October 17, 1987 |
Forstmann Little & Co., which bought the Santa Monica-based Lear Siegler conglomerate earlier this year, said Friday that it has sold three of Lear's remaining aerospace companies, including two in Orange County, to BFM Aerospace Corp. of Santa Ana for $97 million. With the latest sales, Forstmann Little has divested itself of all but two units of Lear's one-time sprawling aerospace empire: Management Services Corp. in Oklahoma City and Power Equipment Corp. in Maple Heights, Ohio.
August 18, 1993
James N. Thayer, retired chief financial officer of Lear Siegler Inc. and a major supporter of UCLA, has died. He was 67. Thayer died Thursday of cancer at St. Johns Medical Center in Santa Monica, UCLA announced. He had been with Santa Monica-based Lear Siegler from 1967 until his retirement in 1987. Then a director of Gibraltar Financial Corp. of Beverly Hills, Thayer was named president and chairman of Gibraltar in 1988.
December 18, 1986 |
Although it failed in both of its attempts to acquire Lear Siegler Inc., the investor group that started the bidding war for the Santa Monica conglomerate two months ago turned a tidy, $46.4-million gross profit for its unsuccessful efforts. Wednesday, two days after AFG Partners withdrew its second bid for tax reasons, the investors soothed their disappointment with a hefty $8.4-million gross profit from the sale of Lear stock it acquired in its latest acquisition attempt.
November 4, 1986 |
The investment group seeking to buy Lear Siegler Inc. stepped up its campaign Monday with a letter to the company's directors seeking the repeal of their anti-takeover measures and a board order to force Lear executives to begin sales negotiations immediately. AFG Partners has amassed a 9.8% stake in Lear Siegler and has been trying for the last week to meet with company executives to negotiate an all-cash purchase of the company for at least $85 per share, or a total of about $1.5 billion.