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Jack Eckerd Corp

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BUSINESS
September 24, 1991 | From Times Wire Services
Drugstore chain Jack Eckerd Corp. is trying once again to acquire its bankrupt brethren, Revco D.S., with an enhanced bid that would create a new, publicly held firm. Under the offer, Eckerd will issue nearly $970 million in debt securities to buy Revco. Privately held Eckerd also plans to issue about 200 million shares of stock and set aside the proceeds to retire some of the debt.
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BUSINESS
January 11, 1992 | From Times Staff and Wire Reports
Eckerd Says Revco Creditors Back Its Offer: Jack Eckerd Corp. says Revco creditors are backing its sweetened offer for financially troubled Revco D. S. Inc. U.S. Bankruptcy Judge Harold White of Akron, Ohio, called a hearing for Monday to review the bidding for the drug store chain. Eckerd sweetened its offer for Revco on Thursday, hours after another Revco suitor, Rite Aid Corp., withdrew its bid, saying the price was too high.
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BUSINESS
June 7, 1985
The Clearwater, Fla.-based company, which operates more than 1,500 drugstores, said it isn't for sale and doesn't welcome "the secret accumulation of stock" by Dart Group. Dart Group owns about 5% of Jack Eckerd stock. Landover, Md.-based Dart said that, between May 21 and May 28, it had purchased 1.884 million shares of Eckerd at between $22.625 and $27.125 a share.
BUSINESS
September 24, 1991 | From Times Wire Services
Drugstore chain Jack Eckerd Corp. is trying once again to acquire its bankrupt brethren, Revco D.S., with an enhanced bid that would create a new, publicly held firm. Under the offer, Eckerd will issue nearly $970 million in debt securities to buy Revco. Privately held Eckerd also plans to issue about 200 million shares of stock and set aside the proceeds to retire some of the debt.
BUSINESS
January 1, 1992 | From Times Staff and Wire Reports
Rite Aid Boosts Revco Bid: Rite Aid Corp. has sweetened its offer for rival drugstore chain Revco DS Inc. for the second time in a month. Rite Aid, trying to win approval from creditors for its plan to buy Twinsburg, Ohio-based Revco, which is operating out of bankruptcy court, said it boosted the cash portion of its offer by $18.5 million to about $538 million. Rite Aid said its total offer is now worth $730 million, including stock and assumed liabilities.
BUSINESS
July 4, 1985
The Fort Worth-based company said it agreed in principle to purchase the inventory and fixed assets of American Home Video, a unit of Jack Eckerd Corp. of Clearwater, Fla., for an undisclosed amount of cash. The purchase should add $150 million to $200 million to Tandy's projected $2.8 billion in revenue for the fiscal year ending June 30, 1986.
BUSINESS
January 6, 1992 | From Times Staff and Wire Reports
Plan to Revive Revco Approved: Creditors of Revco D.S. Inc. have approved a management-backed proposal to reorganize the drugstore chain, clearing the way for the plan's confirmation, Revco announced. The plan was one of three competing proposals. Revco, which operates 1,150 drug stores in 10 states, filed for Chapter 11 bankruptcy court protection in July, 1988, when it failed to make an interest payment on $800 million of high-yield junk bonds.
BUSINESS
June 5, 1990 | From Times Wire Services
Revco D. S. Inc., formerly the nation's largest drugstore chain, announced plans today to sell 220 stores in five states to the Jack Eckerd Corp. of Clearwater, Fla. The purchase price for the stores in Texas, Florida, Mississippi, Louisiana and Oklahoma was not disclosed, but it will be revealed in federal bankruptcy court filings during the next few weeks. Revco has been under federal bankruptcy protection since July, 1988. It operates more than 1,800 stores in 27 states. On Jan.
BUSINESS
June 7, 1985
The Clearwater, Fla.-based company, which operates more than 1,500 drugstores, said it isn't for sale and doesn't welcome "the secret accumulation of stock" by Dart Group. Dart Group owns about 5% of Jack Eckerd stock. Landover, Md.-based Dart said that, between May 21 and May 28, it had purchased 1.884 million shares of Eckerd at between $22.625 and $27.125 a share.
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