April 10, 1995 |
Clark Equipment Co., succumbing to a sweetened takeover bid, said Sunday it has agreed to be acquired by Ingersoll-Rand Co. for $1.5 billion. Both companies manufacture a variety of machinery and industrial equipment, an increasingly prosperous business whose improving fortunes were a major factor behind Ingersoll-Rand's decision to pursue the Clark deal. Ingersoll-Rand shocked the market earlier this month when it launched a hostile tender offer for Clark priced at $77 a share, or $1.
September 29, 1990
Diplomatic Front: The exiled emir of Kuwait told President Bush that Iraq is pillaging his country and repopulating it with outsiders, jeopardizing the prospects of restoring the former government even if Iraqi forces withdraw. After the emir's two-hour session at the White House, U.S. officials said the timetable for possible military action against Iraq is shortening.
CALIFORNIA | LOCAL
January 5, 1986 |
Jake Sang was in the wrong place at the wrong time during World War II. When Germany invaded the Soviet Union, Sang was serving in the Russian army. But when Germany neared defeat, Sang was fighting for the Germans. Sang, now credit manager for an FMC Corp. plant near this central California city, didn't have any choice either time. He is a native of Estonia, which in 1940 came under the control of its eastern neighbor, the Soviet Union.
March 10, 1994 |
Raytheon Co., maker of the Patriot missile, is shutting down plants and shedding about 4,400 employees because of the massive cuts in U.S. defense spending, the company said Wednesday. The restructuring will result in a first-quarter, after-tax charge of $162 million, the defense contractor said. About 65% of the charge, which amounts to $1.20 a share, is related to the company's defense business, it said.
July 16, 1999 |
Unova Inc. named Larry D. Brady president and chief operating officer of the Woodland Hills-based industrial technologies company. Effective Aug. 2, Brady will head the company's two main business segments, including the Industrial Automation Systems division, which is among the largest manufacturers of machine tools in North America. Brady will also head the Automated Data Systems unit, which produces data-collection networking technologies.
August 17, 1988 |
An Ohio auto-parts maker has acquired Anaheim's H.S. Watson Co., a 57-year-old firm that manufactures parts for tanks and farm vehicles, company officials said Tuesday. Dana Corp. of Toledo bought the Anaheim company for an undisclosed amount in an all-cash deal finalized Aug. 8. Watson will change its name to Spicer Industrial/Anaheim and become a wholly owned subsidiary of Dana Corp. Officials of both companies said no layoffs are planned at Watson, which has 43 employees.
January 1, 2002 |
Mergers, spinoffs and name changes as the new year arrives--including the return of U.S. Steel as a separate company--again will affect stock listings. U.S. Steel, one of America's economic stalwarts in the mid-20th century, will come back as a stand-alone entity as a result of a tax-free spinoff from USX Corp. USX, which comprised Pittsburgh-based USX-U.S. Steel Group and USX-Marathon Group of Houston, will change its name to Marathon Oil Corp.
February 3, 1991 |
The Army is rushing to inspect hundreds of its long-troubled Bradley Fighting Vehicles, used to carry soldiers into battle, for a faulty transmission that could render them sitting ducks. The defect can limit the vehicles' forward motion to about 10 to 12 m.p.h., far short of the top design speed of 38 m.p.h., according to an Army memo quoted by the Associated Press. The Bradley, built by FMC Corp. in San Jose, was among the most controversial weapons programs of the 1980s.
November 26, 1986 |
Several companies whose shares were identified by federal authorities as the object of illegal trades by stock speculator Ivan F. Boesky are contemplating civil lawsuits against him and some of his associates. Among the corporations reviewing the Securities and Exchange Commission complaint against Boesky for evidence that his trades cost their shareholders money are Enron Corp., the product of a 1985 merger between Houston Natural Gas and Internorth; Coastal Corp.