August 23, 1988 |
Lear Siegler Holdings has sold its automotive parts subsidiary to the subsidiary's management and Kidder, Peabody & Co. in a $500-million leveraged buyout. Forstmann Little & Co., which has sold a number of Lear Siegler units since it acquired the conglomerate for $2.1 billion last year, agreed late Friday to sell Lear Siegler Seating Corp., which produces automobile seats.
March 24, 1988 |
In a harsh condemnation of the Reagan Administration's refusal to implement provisions of a 1984 law designed to enhance competition in government contracting, a federal appeals court on Wednesday upheld both the law and a lower court decision that had accused the President of "judicial gamesmanship" in refusing to enforce it. The U.S.
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 1, 1987 |
Lear Siegler said Friday that it has agreed to sell two of its aerospace divisions to General Electric Co. of London for $205 million as part of the Santa Monica company's continuing divestiture of operations following a buyout early this year by Forstmann Little. The two divisions--Lear Siegler Astronics of Santa Monica and Developmental Sciences of Ontario--had estimated pretax earnings of $15 million on sales of $124.8 million for the fiscal year ending June 30.