May 14, 1989 |
Federal Reserve Board Chairman Alan Greenspan said Saturday that he believes the number of leveraged buyouts of companies has started to subside, but a panel of business experts disagreed, contending that many more large companies would be takeover targets. Greenspan expressed his view at a closed-door meeting of the Business Council, a group of 65 top executives of the nation's biggest corporations assembled for their spring meeting here. The Fed chief refused to comment to reporters afterward on leveraged buyouts or on any other topic, especially the moderate 0.4% rise in the producer price index for April that sent the stock market soaring Friday.
October 21, 1988 |
The announcement Thursday that RJR Nabisco's managers may seek to take the giant consumer products company private in the nation's largest takeover quickly rekindled a controversy over the merits of the deals called leveraged buyouts, which have steadily increased over the last decade.
October 4, 1989 |
Labor leaders told a House subcommittee Tuesday that increased foreign investment in U.S. airlines and the heavily leveraged buyouts of air carriers threaten the safety of passengers and the soundness of the air industry. Leaders of two major unions representing more than 90,000 airline employees told the House subcommittee on aviation that leveraged buyouts could force airlines to cut costs, and thereby, corners.
December 11, 1996 |
Big-money corporate leveraged buyouts, which became the symbol of late-1980s greed on Wall Street, are making a dramatic comeback this year. The number of $1-billion-or-bigger LBO transactions--purchases of companies by outside investors, using mostly borrowed money--should reach at least 10 by year's end, worth a total of $14.1 billion, says Buyouts newsletter in New York. That would be the greatest number of billion-dollar deals in any one year since 1989.
July 9, 1988 |
Florida Steel Corp. said its top executives are considering making an offer to take the company private in a leveraged buyout that would be worth about $270 million or more. The company said it had been advised that senior managers were considering making an offer that would give shareholders cash and securities "with terms designed to have an aggregate value approximately in the mid-to-high forties per share." The company has about 6 million shares outstanding.
June 10, 1987
Research Cottrell Inc., a Somerville, N.J., pollution control, engineering and construction company, has agreed to a $293-million leveraged buyout by a group of investors that will include some members of management. The $44-a-share offer by R-C Acquisition Inc. was one of several bids for the company, a spokesman said. R-C Acquisition is made up of Odyssey Partners, the founders of Oppenheimer & Co., the investment banking firm Allen & Co. and First Chicago Venture Capital.