August 3, 1989 |
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.
June 1, 1989 |
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.
May 18, 1989
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.
May 9, 1989 |
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.
March 14, 1989 |
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.
March 7, 1989
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.