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Jim Walter Corp

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BUSINESS
January 9, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Four days before the start of the new decade, a court clerk in Tampa, Fla., stamped and filed a foot-thick batch of bankruptcy petitions from a local building materials and resources company, and a chapter in business history quietly ended. The company was Hillsborough Holdings, and its bankruptcy pleading Dec. 27 signaled the end of the era in which its owners, the great buyout firm of Kohlberg Kravis Roberts & Co., stood as a symbol of invincibility for all the financial world.
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BUSINESS
January 9, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Four days before the start of the new decade, a court clerk in Tampa, Fla., stamped and filed a foot-thick batch of bankruptcy petitions from a local building materials and resources company, and a chapter in business history quietly ended. The company was Hillsborough Holdings, and its bankruptcy pleading Dec. 27 signaled the end of the era in which its owners, the great buyout firm of Kohlberg Kravis Roberts & Co., stood as a symbol of invincibility for all the financial world.
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BUSINESS
July 17, 1987 | Associated Press
Stock in Jim Walter Corp. soared Thursday after the diversified company said it would consider a $50-a-share cash buyout offer from the New York investment partnership Kohlberg Kravis Roberts & Co. After a delayed opening, Jim Walter shares jumped $12.50 to $58 in heavy New York Stock Exchange trading, topping the KKR offer and indicating that investors were speculating that a higher bid might emerge.
BUSINESS
August 14, 1987 | Associated Press
Jim Walter Corp., one of the nation's largest home builders, will be taken private in a sweetened $2.43-billion leveraged buyout led by the New York investment firm Kohlberg Kravis Roberts & Co., the company said Thursday. The $60-a-share bid topped KKR's earlier proposal of $50 a share, worth about $2.03 billion, made in mid-July. At that time, industry analysts speculated that the initial offer was too low, and Wall Street responded by pushing the stock of Tampa, Fla.
BUSINESS
December 28, 1989 | From Associated Press
A company owned by leveraged buyout specialists filed for Chapter 11 bankruptcy protection Wednesday after bondholders rejected a restructuring plan. Hillsborough Holdings Corp.'s filing in U.S. Bankruptcy Court in Tampa marks the first Kohlberg Kravis private holding to seek bankruptcy protection, and was closely watched in the junk-bond market that has financed such costly takeovers. New York-based Kohlberg Kravis formed Hillsborough last year as part of its $2.
BUSINESS
July 29, 1987 | From Times Wire Services
Spurred by strength in a handful of its components, the Dow Jones average of 30 industrial stocks jumped to a record high Tuesday as the stock market again confounded the skepticism that has greeted many of its recent advances. The closely watched index closed at 2,519.77, up 25.83 points from Monday and well above its previous record of 2,510.04, set July 17.
BUSINESS
December 21, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Marking a new travail for top buyout firm Kohlberg Kravis Roberts & Co., Hillsborough Holdings said Wednesday that it may be forced into bankruptcy court if can't soon renegotiate its $624 million in junk bond debt. Hillsborough--a building materials company called Jim Walter Corp. until it was bought by KKR two years ago for $2.
BUSINESS
August 14, 1987 | Associated Press
Jim Walter Corp., one of the nation's largest home builders, will be taken private in a sweetened $2.43-billion leveraged buyout led by the New York investment firm Kohlberg Kravis Roberts & Co., the company said Thursday. The $60-a-share bid topped KKR's earlier proposal of $50 a share, worth about $2.03 billion, made in mid-July. At that time, industry analysts speculated that the initial offer was too low, and Wall Street responded by pushing the stock of Tampa, Fla.
BUSINESS
July 17, 1987 | Associated Press
Stock in Jim Walter Corp. soared Thursday after the diversified company said it would consider a $50-a-share cash buyout offer from the New York investment partnership Kohlberg Kravis Roberts & Co. After a delayed opening, Jim Walter shares jumped $12.50 to $58 in heavy New York Stock Exchange trading, topping the KKR offer and indicating that investors were speculating that a higher bid might emerge.
BUSINESS
October 26, 1988 | SCOT J. PALTROW, Times Staff Writer
The record $20.3-billion bid for RJR Nabisco announced Monday by any standard would seem a shocking leap in the size of corporate buyouts. But for Kohlberg Kravis Roberts & Co., the leveraged buyout firm that made the bid, it is merely the logical next step in a succession of ever bigger deals, beginning back in the mid-1970s. KKR is credited with inventing the big leveraged buyout, in which companies are taken private with borrowed funds and paid off from the acquired company's own cash flow.
BUSINESS
January 14, 1988 | DENISE GELLENE, Times Staff Writer
B.A.T. Industries, the giant British tobacco conglomerate that owns Marshall Field and Saks Fifth Avenue among other U.S. companies, Wednesday offered $4.2 billion for Farmers Group, a major fire and casualty insurer in California and the West. The offer by B.A.T. (originally British-American Tobacco) is the most dramatic evidence yet that U.S. firms are now seen as a bargain by foreign companies, because of the precipitous drop in the dollar's value.
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