July 30, 1988 |
Koppers Co. on Friday announced the collapse of a $660-million deal to sell its chemicals division to a management-led group. The sale would have helped British construction magnate Brian Beazer finance his $1.8-billion purchase of Koppers. Beazer said he was optimistic that other buyers could be found for the chemicals business.
March 22, 1988 |
Britain's Brian C. Beazer said he would settle for only part of Koppers Co., the construction materials and chemicals company that he and Shearson Lehman Hutton Inc. are seeking in a hostile takeover. In a letter that Koppers said its chairman, Charles R. Pullin, received Saturday, Beazer raised his group's offer to $56 per common share, or about $1.6 billion, from $45 a share for the Pittsburgh-based company.
November 5, 1988 |
Beazer PLC, a British-American home-building and construction materials company, said it signed preliminary agreements for the sale of three Koppers Co. units for about $60 million. Buyers' names were not disclosed. The units sold were Koppers International Canada Ltd., a steel culvert pipe manufacturer based in Cambridge, Ontario; Ivy Steel and Wire Co. Inc., a welder wire producer based in Houston, and Meadow Steel Products Inc., a Tampa, Fla.
September 11, 1988 |
Residents realized they were in for trouble when an early morning explosion shook the Koppers Co. wood-treatment plant south of Oroville, pushing up a tower of acrid black smoke that burned their lungs and blistered their skin. When small but unhealthy traces of the toxic material dioxin turned up a few months later in locally produced eggs, chickens and beef, they realized the problem was not going to go away.
May 11, 1988 |
The federal courts have upheld Delaware's takeover law for the second time in recent weeks, further bolstering the ability of target companies to keep unwanted bidders at bay. But because the judges' opinions were issued in preliminary hearings and are subject to further consideration, experts expect the law to be tested further. "An appeal is almost guaranteed," said Robert Heim, a partner in the Philadelphia office of Dechert Price & Rhoads. "This is far from being conclusive."