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BUSINESS
June 18, 1996 | Times Staff and Wire Reports
SunAmerica Buys 33% Stake in Danskin: The L.A.-based financial services company also warned that it may seek the authority to purchase more shares in New York-based Danskin Inc. SunAmerica Inc. acquired the Danskin stake from Esmark Inc. through a foreclosure sale, according to a Schedule 13D filed with the Securities and Exchange Commission. SunAmerica, a creditor of the bankrupt Esmark, purchased 2.01 million Danskin shares for $3 each, or a total of $6.03 million.
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BUSINESS
June 18, 1996 | Times Staff and Wire Reports
SunAmerica Buys 33% Stake in Danskin: The L.A.-based financial services company also warned that it may seek the authority to purchase more shares in New York-based Danskin Inc. SunAmerica Inc. acquired the Danskin stake from Esmark Inc. through a foreclosure sale, according to a Schedule 13D filed with the Securities and Exchange Commission. SunAmerica, a creditor of the bankrupt Esmark, purchased 2.01 million Danskin shares for $3 each, or a total of $6.03 million.
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NEWS
October 1, 1985 | Associated Press
Beatrice Cos. said today that it plans to sell its Avis Inc. car rental agency and three other businesses as it continues to pare the debt from its 1984 acquisition of Esmark Inc. Avis, the nation's second-largest car-rental agency, posted a profit of $68 million for Beatrice in the second quarter. Beatrice said it also plans to sell Danskin, which makes clothing such as leotards and tights; Pennaco Hosiery, and International Jensen.
BUSINESS
February 17, 1988
Susan Richter has been named president of Dance France, a bodywear fashion firm in New York. Richter previously was general manager and vice president. She became chief executive in 1986 when Dance France was acquired by Esmark Apparel Inc., which also owns Danskin, Repetto and Pennaco Hosiery.
BUSINESS
November 8, 1985
A group of Avis Inc. licensees and Wesray Corp., a private investment firm, are considering a joint bid to acquire Avis from Beatrice Cos., Wesray said. Beatrice, the Chicago-based conglomerate, put the rental car subsidiary and three smaller units on the block last month. The proceeds were to help pare Beatrice's heavy debt load following its $2.7-billion acquisition last year of Esmark Inc., a transaction that included Avis.
BUSINESS
June 10, 1986 | MARTHA GROVES, Times Staff Writer
Beatrice Cos. said Monday that it has agreed in principle to sell Esmark Inc., the parent company of Danskin and of Pennaco hosiery, to an investor group organized by Hero & Co., a private New York investment banking firm. Terms of the sale were not disclosed. Esmark's knitwear group includes such well-known brands as Danskin body wear and Round the Clock and Givenchy hosiery. The group has combined revenue of about $100 million, Beatrice said.
BUSINESS
August 6, 1985 | Times Wire Services
After a year of retirement, 66-year-old William W. Granger Jr. was back at work Monday as the newly named chairman and chief executive of Beatrice Cos., meeting with company employees and attempting to smooth the internal squabbles that led to the surprise ouster Saturday of the controversial James L. Dutt.
BUSINESS
March 22, 2008 | From the Associated Press
A Russian steelmaker run by one of the world's richest men announced Friday that it would buy a Maryland steel mill from a company run by a rival billionaire for hundreds of millions of dollars less than once sought. Russian steelmaker OAO Severstal, run by Alexei Modashov, said it had agreed to buy the Sparrows Point plant from ArcelorMittal, run by billionaire Lakshmi Mittal, for $810 million. ArcelorMittal was formed when the Dutch firm Mittal Steel acquired Arcelor of Luxembourg.
BUSINESS
October 30, 1985 | Associated Press
A New York investment banking firm said Tuesday that it has added $218 million in securities to its offer to buy Beatrice Cos. and take the food and consumer products company private. Kohlberg Kravis Roberts & Co. said it raised its offer to $47 for each share of Beatrice common stock from its previous offer of $45 a share to total more than $5 billion. With 109 million common shares outstanding, Beatrice would fetch $5.
BUSINESS
April 11, 1985 | Associated Press
Northwest Industries agreed Wednesday to merge with a division of a privately held Chicago-based corporation in a $1.4-billion transaction that will see Northwest's Lone Star Steel subsidiary spun off into a separate, publicly held corporation. Northwest said the merger would follow a tender offer to be made by Farley Metals, a division of Farley Industries, which is a privately held metals- and industrial-equipment manufacturer. Farley has agreed to pay $50 a share for up to 15.
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