Giant Group Ltd

Rally's Hamburgers Inc., a fast-food chain, and Checkers Drive-In Restaurants Inc. called off their proposed combination with Los Angeles-based holding company Giant Group Ltd. The three companies had announced a plan to merge in September. A "definitive merger agreement could not be finalized within the allowed time period," the companies said in a statement. The three firms, which have unsuccessfully tried to combine previously, remain linked.

Giant Group Ltd. agreed to buy an 81% interest in Horizon Fabrics Inc. and Hirschberg Schutz & Co., suppliers of specialty fabrics, ribbons and trims. Giant Group, a Beverly Hills-based investor in the Rally's Hamburger chain, will pay $32.4 million in cash, debt securities and the assumption of certain liabilities for the stake. The remaining 19% will continue to be owned by the senior management and founders of Horizon and Hirschberg, James Cash and Jerry Spitzberg.

A businessman whose company won the right to sell a highly controversial abortion drug in the U.S. filed suit against the company that made his role public. The suit, filed by Joseph Pike in San Diego County Superior Court, accuses Giant Group Ltd. of defamation and of exposing him and his family to threats from anti-abortion groups. In his suit, Pike contends he and NeoGen Industries Inc.

Giant Group Rebuffs Fidelity Takeover Bid: Beverly Hills-based Giant Group Ltd. escalated its war of words against Fidelity National Financial Inc., issuing a fiery letter that flatly rejects the Irvine title company's unsolicited takeover bid. Fidelity National last week offered $49 million in stock for outstanding shares of Giant Group, which owns a 47% stake in the Rally's hamburger chain.

Fidelity National Financial Inc., engaged in a bitter proxy battle for Giant Group Ltd., has accused the Beverly Hills company of delaying its annual shareholders meeting to stall Fidelity's hostile takeover bid. Giant, in turn, accused Fidelity's chairman, William P. Foley II, of causing the delay by refusing to submit to a deposition in a lawsuit it has filed against him and Fidelity on alleged securities violations. Foley and his Irvine title insurance company have countersued.

Giant Group Ltd. escalated its war of words Thursday against Fidelity National Financial Inc., issuing a fiery letter that flatly rejects the Irvine title company's unsolicited takeover bid. Giant Group's decision came a week after Fidelity National offered $49 million in stock for outstanding shares of the Beverly Hills company, which owns a 47% stake in the Rally's hamburger chain. Fidelity National Chairman William P.

Fidelity National Financial Inc. said that a Wednesday deadline set in connection with its unsolicited offer to acquire Giant Group Ltd. failed to generate a response from the Beverly Hills-based company. Giant Group on Wednesday declined to comment on the deadline that Fidelity National set Feb. 15, when it offered to buy Giant Group in exchange for $49 million in Fidelity National stock.

Fidelity National Financial Inc. on Friday fired the first salvo in a potentially bitter proxy battle by declaring its intent to seek all four seats on the board of Beverly Hills-based Giant Group Ltd. The Irvine-based title insurance company in February offered $49 million in its own stock for Giant Group's outstanding shares, but Giant Group and its chairman, Burt Sugarman, rejected the unsolicited bid, flatly stating that the company wasn't for sale.

Giant Group Ltd.--a holding company whose odd mix of assets includes two cement manufacturing firms and the TV production company that gave the world "The Gong Show"--said Monday that it may sell its cement operations. Beverly Hills-based Giant said in a statement that it "has received inquiries from, and is having discussions with third parties relating to the sale" of its cement operations, Giant Cement Co. of Columbia, S.C., and Keystone Cement Co. of Bath, Pa.

A San Diego company with a license to manufacture and distribute the controversial abortion pill RU-486 in the United States surfaced Tuesday to deny allegations in two lawsuits that it attempted to hide the fact that its chief partner is a convicted criminal and disbarred lawyer. Neogen Investors, an investment partnership controlled by Joseph D. Pike of San Diego, also said it will fight any attempts by its business partners to force it to give up rights to the potentially lucrative license.

Skokie, Ill.-based U.S. Robotics Corp. said it will lay off as many as 600 workers, or about 10% of its work force, to cut costs. . . . Richmond, Va.-based Circuit City Stores Inc. said it plans to create a second series of common stock to track the separate performance of its CarMax used- and new-car retail operations. . . . San Francisco-based BankAmerica Corp. plans to cut 80 jobs, or 10% of the work force, in its brokerage unit, BA Investment, mainly by automating administrative duties. . .

Giant Group Ltd. agreed to buy an 81% interest in Horizon Fabrics Inc. and Hirschberg Schutz & Co., suppliers of specialty fabrics, ribbons and trims. Giant Group, a Beverly Hills-based investor in the Rally's Hamburger chain, will pay $32.4 million in cash, debt securities and the assumption of certain liabilities for the stake. The remaining 19% will continue to be owned by the senior management and founders of Horizon and Hirschberg, James Cash and Jerry Spitzberg.

Fidelity National Financial Inc., stymied in another hostile takeover effort, said Monday that it has ended its bid for cash-rich Giant Group Ltd. The halt in the four-month public battle came after Beverly Hills-based Giant Group agreed to buy back at a premium the 14.9% stake that Fidelity had accumulated. The Irvine title insurer also will buy a small portion of a fast-food company in which Giant holds a 48% interest.

Fidelity Ends Giant Bid: Fidelity National Financial Inc., apparently stymied in another hostile takeover effort, said it ended its bid for cash-rich Giant Group Ltd. The halt in the four-month public battle came after Beverly Hills-based Giant Group agreed to buy back at a premium the 14.9% stake that Fidelity had accumulated. The Irvine title insurer will also buy a small portion of a fast-food company in which Giant holds a 48% interest. Fidelity's chairman, William P.

Beverly Hills-based Giant Group Ltd. said Monday that it has withdrawn its plan to increase its 47% stake in Rally's Hamburgers Inc., the Louisville-based fast-food company. Giant Group, the target of an uninvited takeover bid by Irvine-based title insurer Fidelity National Financial Inc., earlier said it planned to increase its holdings to 79.9% by swapping Giant Group preferred stock for Rally's common shares.

Fidelity National Financial Inc., engaged in a bitter proxy battle for Giant Group Ltd., has accused the Beverly Hills company of delaying its annual shareholders meeting to stall Fidelity's hostile takeover bid. Giant, in turn, accused Fidelity's chairman, William P. Foley II, of causing the delay by refusing to submit to a deposition in a lawsuit it has filed against him and Fidelity on alleged securities violations. Foley and his Irvine title insurance company have countersued.

Fidelity National Financial Inc. on Friday fired the first salvo in a potentially bitter proxy battle by declaring its intent to seek all four seats on the board of Beverly Hills-based Giant Group Ltd. The Irvine-based title insurance company in February offered $49 million in its own stock for Giant Group's outstanding shares, but Giant Group and its chairman, Burt Sugarman, rejected the unsolicited bid, flatly stating that the company wasn't for sale.