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J P Stevens Co Inc

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BUSINESS
April 26, 1988 | Associated Press
J. P. Stevens & Co. has agreed to be acquired for $1.22 billion by West Point-Pepperell Inc., which plans to split the textile giant's assets with a partner and a rival bidder. Pepperell, which made its bid in conjunction with NTC Group, said Monday that it will pay $68.50 in cash for each of Stevens' 17.8 million shares outstanding under terms of deal forged over the weekend. The West Point, Ga.
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BUSINESS
April 23, 1988 | Associated Press
J. P. Stevens & Co. said Friday that it rejected a $1.22-billion takeover offer from rival bidders whose joint buyout proposal includes splitting the textile giant's assets among them. A special committee of Stevens' board informed fabric maker West Point-Pepperell Inc. and the investment firm Odyssey Partners that their joint $68.50-a-share cash proposal was unacceptable in its present form.
BUSINESS
April 23, 1988 | Associated Press
J. P. Stevens & Co. said Friday that it rejected a $1.22-billion takeover offer from rival bidders whose joint buyout proposal includes splitting the textile giant's assets among them. A special committee of Stevens' board informed fabric maker West Point-Pepperell Inc. and the investment firm Odyssey Partners that their joint $68.50-a-share cash proposal was unacceptable in its present form.
BUSINESS
April 26, 1988 | Associated Press
J. P. Stevens & Co. has agreed to be acquired for $1.22 billion by West Point-Pepperell Inc., which plans to split the textile giant's assets with a partner and a rival bidder. Pepperell, which made its bid in conjunction with NTC Group, said Monday that it will pay $68.50 in cash for each of Stevens' 17.8 million shares outstanding under terms of deal forged over the weekend. The West Point, Ga.
BUSINESS
March 2, 1988 | Associated Press
A bidding war erupted for textile giant J. P. Stevens & Co. on Tuesday, with rival West Point-Pepperell Inc. offering to buy the company for about $867 million in cash and a management-led group jumping its cash and securities offer to about $850 million. Stevens also disclosed that it had received a third, unidentified offer. Stevens' stock closed up $6.25 a share at $54.50 on the New York Stock Exchange. West Point-Pepperell was unchanged at $30.50 a share.
BUSINESS
March 15, 1988 | Associated Press
J. P. Stevens & Co., a leading producer of designer towels, linens and other textiles, accepted a nearly $1-billion cash buyout bid from a private investment group Monday, spurning offers from its own management and rival West Point-Pepperell Inc. Analysts called the deal with the New York investment firm Odyssey Partners fair, although some said they thought the bidding could continue. In active trading on the New York Stock Exchange, Stevens' stock jumped $5.375 a share to close at $61.
BUSINESS
April 12, 1988 | From Reuters
Bidding for textile giant J. P. Stevens & Co. escalated past the $1-billion mark on Monday, as Stevens's competitor West Point-Pepperell Inc. and investment firm Odyssey Partners both sweetened their competing offers. Odyssey raised its bid to $1.22 billion late Monday from its earlier offer of $990 million. Earlier in the day, West Point had announced a $1.19-billion bid. The new offers had been expected by Wall Street, where Stevens shares closed at $66.50, up 50 cents.
BUSINESS
April 12, 1988 | From Reuters
Bidding for textile giant J. P. Stevens & Co. escalated past the $1-billion mark on Monday, as Stevens's competitor West Point-Pepperell Inc. and investment firm Odyssey Partners both sweetened their competing offers. Odyssey raised its bid to $1.22 billion late Monday from its earlier offer of $990 million. Earlier in the day, West Point had announced a $1.19-billion bid. The new offers had been expected by Wall Street, where Stevens shares closed at $66.50, up 50 cents.
BUSINESS
March 15, 1988 | Associated Press
J. P. Stevens & Co., a leading producer of designer towels, linens and other textiles, accepted a nearly $1-billion cash buyout bid from a private investment group Monday, spurning offers from its own management and rival West Point-Pepperell Inc. Analysts called the deal with the New York investment firm Odyssey Partners fair, although some said they thought the bidding could continue. In active trading on the New York Stock Exchange, Stevens' stock jumped $5.375 a share to close at $61.
BUSINESS
March 2, 1988 | Associated Press
A bidding war erupted for textile giant J. P. Stevens & Co. on Tuesday, with rival West Point-Pepperell Inc. offering to buy the company for about $867 million in cash and a management-led group jumping its cash and securities offer to about $850 million. Stevens also disclosed that it had received a third, unidentified offer. Stevens' stock closed up $6.25 a share at $54.50 on the New York Stock Exchange. West Point-Pepperell was unchanged at $30.50 a share.
BUSINESS
February 9, 1988 | Associated Press
A management-led group is offering to buy J. P. Stevens & Co. for $666.5 million, the company said Monday, but the textile giant's stock soared on speculation that higher bids would emerge. The management group said it would pay $38 in cash plus debt securities it valued at $5 for each of Stevens' 15.5 million outstanding common shares, the company announced. In nationwide trading of New York Stock Exchange-listed issues, Stevens soared $12.25 to close at $45.625 a share.
BUSINESS
February 9, 1988 | Associated Press
A management-led group is offering to buy J. P. Stevens & Co. for $666.5 million, the company said Monday, but the textile giant's stock soared on speculation that higher bids would emerge. The management group said it would pay $38 in cash plus debt securities it valued at $5 for each of Stevens' 15.5 million outstanding common shares, the company announced. In nationwide trading of New York Stock Exchange-listed issues, Stevens soared $12.25 to close at $45.625 a share.
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