Irwin L Jacobs

Pioneer Corp. said it received an unsolicited takeover offer of $23 a share from Minstar Inc., the company headed by the Minneapolis financier. An investor group led by Jacobs currently owns about 4.6 million shares of Pioneer common stock, or 14% of the 33 million shares outstanding. Under Jacobs' offer, the cost of buying the remaining shares would be $653.2 million. Amarillo-based Pioneer said it was reviewing the offer and planned to call a special board meeting to consider the proposal.

Minstar, a publicly traded company headed by Minneapolis investor Irwin L. Jacobs, said Friday that it has sold its Bekins subsidiary to the Glendale-based moving company's president, Thomas E. Epley, for $66 million. Under the deal, Epley will remain president and hold a majority stake in the company. Minstar, which is to receive $51 million in cash and the balance in notes, will retain a 40% interest in Bekins, Epley said.

Avon Products Inc.'s directors on Thursday spurned investor Irwin L. Jacobs' $2.85-billion takeover proposal and reiterated their belief that the cosmetics giant should remain independent. The move, the latest in a string of rejections the direct sales company has doled out to unwanted suitors, had been expected. But speaking from his headquarters in Minneapolis, Jacobs said he would take Avon Chairman and Chief Executive James E.

Avon Products Inc., fighting to head off a possible takeover bid, filed a federal lawsuit Wednesday seeking a court order preventing Amway Corp. and Minneapolis investor Irwin L. Jacobs from acquiring more Avon stock. The lawsuit was the New York-based cosmetic firm's first reaction to a Securities and Exchange Commission filing by Jacobs and Amway, a direct seller of personal and home products. In the filing, Jacobs and Amway said they have acquired 10.3% of Avon's stock and formed an alliance called A/J Partnership.

A group led by Minneapolis investor Irwin L. Jacobs and Minnesota Twins owner Carl R. Pohlad has increased its ownership in Columbia Savings & Loan to 8.62%, according to a recent filing with the Securities & Exchange Commission. The investors said the stock was bought for "investment purposes only," adding they may "attempt to dispose of shares or purchase additional shares in the open market, in privately negotiated transactions or otherwise." Columbia Savings is the California thrift that has made a nationwide reputation by investing heavily in "junk bonds," which are high-yield, high-risk debt securities.

A group led by Minneapolis investor Irwin L. Jacobs announced Friday a long-anticipated proposal to buy Shaklee Corp., a marketer of foods, vitamins and personal care products, in a deal valuing the company at $528 million. Jacobs has been steadily buying shares in San Francisco-based Shaklee, and his investment group already holds close to 15% of the company's 13.2 million outstanding shares. In response, Shaklee has taken steps to prevent a possible takeover attempt.

Minneapolis investor Irwin L. Jacobs is proposing a $2.85-billion takeover of Avon Products, a 103-year-old cosmetics giant that has rejected two other recent buyout offers. Avon said Wednesday that it had received a letter from Jacobs late Tuesday requesting a meeting to negotiate an all-cash deal. James E. Preston, Avon's chairman, said the company's board would discuss Jacobs' letter at a regularly scheduled board meeting today.

Avon Products Inc.'s directors on Thursday spurned investor Irwin L. Jacobs' $2.85-billion takeover proposal and reiterated their belief that the cosmetics giant should remain independent. The move, the latest in a string of rejections the direct sales company has doled out to unwanted suitors, had been expected. But speaking from his headquarters in Minneapolis, Jacobs said he would take Avon Chairman and Chief Executive James E.

Shaklee Corp., the personal-care products company that for months has been trying to fend off corporate raider Irwin L. Jacobs, on Monday made an end run around its hostile bidder by accepting a $395-million buyout offer from Japan's Yamanouchi Pharmaceuticals Co. Jacobs, signaling the likely end of the takeover battle, said he would not submit a new offer.

Minneapolis investor Irwin L. Jacobs is proposing a $2.85-billion takeover of Avon Products, a 103-year-old cosmetics giant that has rejected two other recent buyout offers. Avon said Wednesday that it had received a letter from Jacobs late Tuesday requesting a meeting to negotiate an all-cash deal. James E. Preston, Avon's chairman, said the company's board would discuss Jacobs' letter at a regularly scheduled board meeting today.

A group led by Minneapolis investor Irwin L. Jacobs and Minnesota Twins owner Carl R. Pohlad has increased its ownership in Columbia Savings & Loan to 8.62%, according to a recent filing with the Securities & Exchange Commission. The investors said the stock was bought for "investment purposes only," adding they may "attempt to dispose of shares or purchase additional shares in the open market, in privately negotiated transactions or otherwise." Columbia Savings is the California thrift that has made a nationwide reputation by investing heavily in "junk bonds," which are high-yield, high-risk debt securities.

In other City Western League games: Clairemont 10, Kearny 1--Oscar Sanchez was two for three with a home run, a double and four RBIs for the Chieftains (13-12, 9-6). Rafael Miramontes (7-4) was the winner. Kearny finished 4-22, 2-13. University City 6, La Jolla 0--Ray Hooper (2-3) pitched a two-hitter for University City (8-17, 6-9). La Jolla finished 5-20, 2-13. City Central League Crawford 8, Christian 1--No. 4 Crawford (22-4, 14-1) set a section single-season record by scoring 252 runs, topping the 250 scored by Granite Hills in 1987.

Avon Products Inc., fighting to head off a possible takeover bid, filed a federal lawsuit Wednesday seeking a court order preventing Amway Corp. and Minneapolis investor Irwin L. Jacobs from acquiring more Avon stock. The lawsuit was the New York-based cosmetic firm's first reaction to a Securities and Exchange Commission filing by Jacobs and Amway, a direct seller of personal and home products. In the filing, Jacobs and Amway said they have acquired 10.3% of Avon's stock and formed an alliance called A/J Partnership.

Shaklee Corp., the personal-care products company that for months has been trying to fend off corporate raider Irwin L. Jacobs, on Monday made an end run around its hostile bidder by accepting a $395-million buyout offer from Japan's Yamanouchi Pharmaceuticals Co. Jacobs, signaling the likely end of the takeover battle, said he would not submit a new offer.

I fully agree with Richard Rodriguez ("Baiting Religion, American Style," Editorial Page, Feb. 25) for saying what the American Muslims have been saying all along. He said, "To reiterate blasphemy through a microphone seems to me a provocation. I do believe that American writers believe that they are protesting censorship. But should one not question the propriety of giving further offense to Islam?" Rushdie has written a blasphemous book and has committed a grave folly. He now realizes it.

Irwin L. Jacobs, a corporate raider who hasn't been doing much raiding since last October's crash, sought to put his own corporate house in order Thursday, when he announced a plan to take Minstar Inc., the core of his holdings, private. Jacobs, a Minneapolis financier sometimes criticized for starting moves to buy companies and then selling his stake at a profit, already owns a majority of Minstar's stock, which is traded over the counter.

A group led by Minneapolis investor Irwin L. Jacobs announced Friday a long-anticipated proposal to buy Shaklee Corp., a marketer of foods, vitamins and personal care products, in a deal valuing the company at $528 million. Jacobs has been steadily buying shares in San Francisco-based Shaklee, and his investment group already holds close to 15% of the company's 13.2 million outstanding shares. In response, Shaklee has taken steps to prevent a possible takeover attempt.

Responding to word that corporate raider Irwin Jacobs has accumulated more than 6% of its stock, San Francisco-based Shaklee said Wednesday that it has toughened its anti-takeover defenses. Shaklee, which sells vitamins and household and personal-care items through a direct sales network, said its directors amended a shareholder rights provision that makes it even more difficult to launch a hostile takeover attempt.