Advertisement
YOU ARE HERE: LAT HomeCollectionsEsmark
IN THE NEWS

Esmark

MORE STORIES ABOUT:
BUSINESS
December 8, 1988 | Associated Press
Donald P. Kelly, former chairman of Beatrice Co. and a near-legendary deal maker, has formed a new limited partnership designed to acquire businesses that can be bought for as much as $1 billion. The investment firm Salomon Inc. will be a permanent partner to D. P. Kelly & Associates, arranging financing and finding investors for Kelly's new pursuits, Kelly said Tuesday. "We provide the managerial skills," Kelly said. "We don't have to worry about where we're going to get the equity.
Advertisement
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
October 2, 1985 | NANCY RIVERA, Times Staff Writer
Beatrice Cos. said Tuesday that it is selling four businesses, including its Avis rental car and Danskin bodywear units, as part of an ongoing restructuring designed to turn the Chicago-based company into "the premier worldwide marketer of food and consumer products." William W. Granger Jr., Beatrice chairman and chief executive, said in a statement that a "thorough review" of Beatrice's businesses led the company to determine that "shareholder value will be enhanced most" by selling Avis Inc.
BUSINESS
October 17, 1985 | NANCY YOSHIHARA, Times Staff Writer
Beatrice Cos. on Wednesday became the latest food company on Wall Street to be the target of a takeover attempt when the New York investment firm of Kohlberg, Kravis, Roberts disclosed plans to offer $45 a share, or a total of $4.9 billion, to acquire the Chicago-based company. Kohlberg, Kravis, which specializes in leveraged buy-outs, said it would make a written buy-out proposal of $45 a share in cash and securities.
BUSINESS
May 18, 1996 | JOHN O'DELL, TIMES STAFF WRITER
Hunt-Wesson Inc. said Friday that it will close its historic Hunt Foods tomato processing plant in Fullerton, one of Southern California's largest remaining food canneries, laying off 325 full-time workers and eliminating 450 seasonal canning jobs. The 62-year-old Fullerton plant was the late billionaire Norton Simon's first food-processing business, which he grew into the multibillion-dollar Hunt-Wesson powerhouse.
BUSINESS
November 15, 1985 | NANCY YOSHIHARA, Times Staff Writer
Beatrice Cos. agreed on Thursday to be acquired by the investment firm of Kohlberg Kravis Roberts & Co. in a deal valued at $6 billion--the largest leveraged buy-out in history. The Chicago-based food and consumer products company entered a definitive agreement after New York-based KKR sweetened its offer, raising it to $50 a share--$43 in cash and $7 in preferred stock--from its previous offer of $47 a share in cash and securities.
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
October 3, 1985 | From Staff and Wire Reports
Unilever on Wednesday officially ended its effort to take over Richardson-Vicks, expressing disappointment but saying that Procter & Gamble's offer of $69 a share, or $1.2 billion, is too high a price. Unilever, the giant Anglo-Dutch company that managed to accumulate only 100,000 shares--barely half a percent--of Richardson-Vicks' stock during a monthlong attempt at a hostile takeover, also said it has ended a lawsuit against Richardson-Vicks' defenses.
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.
Los Angeles Times Articles
|