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Panavision Inc

May 14, 2002 | Bloomberg News
A judge rejected billionaire Ronald Perelman's proposed $14.75-million settlement of investor lawsuits over the sale of his stake in movie camera maker Panavision Inc. Delaware Chancery Court Judge Leo Strine ruled that the agreement shortchanged investors in Perelman-controlled licorice maker M&F Worldwide Corp. M&F's board bought Perelman's Panavision shares for $128 million in April 2001. Strine said the amount of the settlement wasn't enough to justify dropping the suits.
November 26, 1996
Panavision Inc., the Woodland Hills maker of motion picture camera systems, raised $59.5 million in its initial public offering. The company sold 3.5 million shares of common stock for $17 apiece, within its expected price range of $16 to $18 a share. In its first day of trading on the New York Stock Exchange on Thursday, Panavision's stock closed at $20 a share. Panavision plans to use the proceeds from the stock sale to repay debt, for working capital and general corporate purposes.
May 27, 1997
Panavision Inc. saw its net income more than double in its first quarter while its revenues climbed by 24%. The Woodland Hills-based camera equipment concern posted net income of $3.5 million in the quarter that ended March 31, compared to $1.2 million in the same period a year earlier. Revenues in the latest quarter rose to $31.2 million, up from $25.2 million. The company attributed its improved results in part to its acquisition of Lee Lighting last July.
October 2, 2002 | Bloomberg News
COURTS * M&F Worldwide Inc. won a judge's approval to settle a lawsuit challenging the fairness of the company's $128-million purchase of billionaire Ronald Perelman's stake in movie camera maker Panavision Inc. Licorice processor M&F and controlling director Perelman were sued in Delaware Chancery Court in 2000 by shareholders who said the financier was selling his 83% stake in Panavision to get rid of an under-performing investment.
April 25, 2006 | From Bloomberg News
Shares of Panavision Inc., a maker of movie cameras, more than doubled after co-Chairman Ronald O. Perelman offered to buy the portion of the company that he didn't already own. In a letter to Panavision's board, Perelman's MacAndrews & Forbes Holdings Inc. offered $8 a share in cash for Woodland Hills-based Panavision, the company said in a government filing.
December 19, 1997 | Bloomberg News
Ronald Perelman's Mafco Holdings Inc. will become the controlling shareholder of motion-picture camera maker Panavision Inc., based in Woodland Hills, when Warburg, Pincus Capital Co. sells its stake in the investment. Under the agreement, Panavision shareholders will swap as much as 88% of their individual holdings for $27 a share in cash, and venture capital firm Warburg Pincus will swap 88% of its shares for $26.50 a share in cash and vote all its shares in favor of the transaction.
August 10, 1999
Panavision Inc., Woodland Hills, reported a net loss of $7.7 million for the second quarter ended June 30, compared with a $56.6 million loss for the like quarter last year. Revenues were $47.2 million, up from $46 million last year. Panavision, the world's leading supplier of precision movie cameras, has been losing money for the last five quarters. The downturn in feature film production this year has definitely hurt the company, said Joe Page, chief administrative officer.
September 24, 1996
Panavision Inc., the Woodland Hills company that has dominated the movie camera business for decades, plans to go public. In a registration statement filed with the Securities and Exchange Commission, Panavision said it plans to raise about $69 million in its initial public offering. A company spokesman said the number of shares to be offered for sale and the proposed price of those shares has not been determined.
January 15, 2002 | From Bloomberg News
M&F Worldwide Corp. officials paid about $200 million more than they should have for financier Ronald Perelman's majority stake in movie camera maker Panavision Inc., an investment analyst testified. Executives at M&F, in which Perelman owns a 35% stake, agreed to pay $190 million for his 83% of Panavision last year. Shareholders who sued over the purchase said it was engineered to bail the billionaire financier out of a bad investment.
Panavision Inc. never met a camera problem it didn't try to solve. Take the upcoming motion picture "Titanic." Panavision engineers got together with the movie makers and designed a deep-sea camera especially for the film. But now, the motion picture camera company, a Hollywood staple for four decades, is navigating into unfamiliar and possibly treacherous waters as it prepares to sell its shares to the public for the first time.
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