September 12, 1989 |
Los Angeles financier Burt Sugarman agreed Monday to buy Aspen Airways, a 35-year-old airline serving Colorado's ski resorts. The price was not disclosed, but industry analysts estimated that the airline, which operates under the name United Express, was worth about $50 million. "It's a unique franchise, a very interesting airline," Sugarman said in a telephone interview Monday.
February 16, 1996 |
Title insurance company executive William P. Foley II on Thursday made an unsolicited $49-million bid for Giant Group Ltd., setting the stage for what may be a proxy fight with Beverly Hills businessman Burt Sugarman. Foley's offer intensifies an already bitter confrontation between two Southern California businessmen, each of whom is known to have a penchant for bruising proxy battles. Foley has acquired 14.75% of Giant Group's outstanding shares in recent months.
December 20, 1988 |
Foiled in a $1.6-billion takeover attempt on Media General last spring, Beverly Hills entrepreneur Burt Sugarman agreed Monday to sell back to the newspaper firm a 10% stake under his control. Publicly traded Giant Group Ltd. and Barris Industries, which are controlled by Sugarman, are to receive $44 million in cash and a paper mill in Pomona for their 2.8 million shares of Media General Class A common stock. The joint announcement put the value of the transaction at about $100 million.
April 30, 1996 |
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.
November 24, 1987 |
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.
March 1, 1988 |
Industrialist and Hollywood producer Burt Sugarman fired the opening salvo Monday in what may become a protracted battle for Media General, a family controlled newspaper and television empire based in Richmond, Va. Sugarman, who has already accumulated slightly less than 10% of Media General's publicly traded common stock, proposed a $1.8-billion merger with two public companies that he controls, Barris Industries Inc. and Giant Group Ltd. But he drew a quick rebuff.
April 7, 1988 |
Hollywood producer Burt Sugarman, intensifying his bid to take over Media General, launched a legal attack Wednesday on the proxy statement put out by the management of the newspaper and television concern for its May 20 stockholder meeting. Sugarman's investment group asked a federal judge in Richmond, Va., to bar the voting of management's proxies at the meeting, at which he expects to contest the reelection of three directors. Media General Chairman D.
July 19, 1991 |
Independent producer and corporate investor Burt Sugarman agreed Thursday to pay nearly $620,000 to settle charges by the Securities and Exchange Commission that he violated securities laws when he neglected to reveal his plans to take over a hamburger chain. Without admitting or denying wrongdoing, Sugarman agreed to pay $556,522, representing money that was saved on the stock purchases by Giant Group, a publicly traded company that Sugarman controls.
March 30, 1990 |
An Irish company that operates one of the world's largest paper and packaging operations has announced a multimillion-dollar deal to purchase Beverly-Hills based Giant Group's newsprint and recycling companies in Pomona. Jefferson Smurfit Group, of Dublin, signed a letter of intent to buy all of the outstanding stock of Golden State Newsprint Co. and Pacific Recycling Co. for $95 million in cash. The purchase is scheduled to be completed during the next three months after regulatory approvals.
November 6, 1996 |
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.