October 20, 1998 |
Greyhound Lines Inc. agreed to be acquired by Canada's Laidlaw Inc., North America's largest ambulance and passenger bus company, for about $470 million. Laidlaw, which already owns Greyhound Lines of Canada, will pay $6.50 a share for Dallas-based Greyhound, valuing the stock portion at about $470 million. That's a 33% premium to Greyhound's price of $4.88 on Friday. Laidlaw also will assume $180 million in Greyhound debt. News of the deal sent Greyhound shares up 81 cents, or 17%, to close $5.
August 7, 1998 |
Greyhound Lines Inc. is sometimes called "The Big Dog," but the moniker hasn't always denoted the bus company's logo. It also would have neatly described Greyhound's dismal performance during much of the 1990s. But that's slowly changing. The only nationwide provider of intercity, scheduled bus service, Dallas-based Greyhound is turning the corner, and its rebound is expected to continue into 1999, at least.
June 21, 1998 |
A Greyhound bus crashed into a tractor-trailer parked on a mountainous, rain-slicked roadway early Saturday, killing seven people, including the bus driver, who was on his last trip, his wife and an 8-year-old boy they cared for since infancy. At least 18 others were hurt. The bus bound for Pittsburgh from New York City was carrying 23 people when it veered off the road and slammed into the rig about 130 miles east of Pittsburgh about 4:30 a.m. EDT, State Police Lt. Richard J. Kovalik said.
CALIFORNIA | LOCAL
November 21, 1997 |
The owner of Dad's Liquor won approval this week to continue allowing Greyhound buses to drop off and pick up passengers in front of his store. The Planning Commission agreed 5 to 0 to allow the bus stop at 2421 S. El Camino Real for another three years. Commissioners Joe Oliver and John Tengdin were absent. The bus stop, which accommodates passengers traveling between Los Angeles and San Diego, was established in September 1995, moving from a site in front of Carl's Jr. on El Camino Real.
October 8, 1997 |
Greyhound Lines Inc., pressing hard to capture more Latino travelers, plans to acquire majority ownership of Golden State Inc., a family-owned bus line that mostly operates in the Southwest states. The price was not disclosed. Los Angeles-based Golden State would continue to be run by the Gonzalez family, which started the service with bilingual drivers 15 years ago, Greyhound said. The firm's routes include Los Angeles, Las Vegas, Albuquerque, Denver and Phoenix.
August 27, 1996 |
Greyhound Cuts Fares: The intercity bus operator said fares will be trimmed by up to 46% on trips longer than 1,000 miles in response to anticipated air fare increases. With airlines preparing to resume collecting a 10% federal ticket tax, the price cuts were designed to "get back some of the price initiatives that the airlines stole from us earlier this summer," said Craig Lentzsch, chief executive of Dallas-based Greyhound Lines Inc.