October 31, 1985
CPC Acquisition, a wholly owned subsidiary of California investor Paul A. Bilzerian, said the $40 million in additional financing will allow it to exercise its option on the 814,000 shares, or 10%, of Cluett, Peabody's outstanding stock now held by Craig Hall of Dallas. A filing with the Securities and Exchange Commission showed that $30 million of the new funds came from Hall. Meanwhile, U.S. District Judge Leonard B.
May 29, 1989
Restrictions Put on Singer Co.: The firm has been barred from selling any of its assets or paying stock dividends pending a lawsuit about claims that a former subsidiary defrauded the government. The company, named as a co-defendant in a civil suit against its former Link Flight Simulation division, was also ordered not to incur any new debt or make any payments to investor Paul A. Bilzerian, the Florida financier who acquired the company last year. The preliminary injunction was sought by the Justice Department, which last March joined the $231-million lawsuit that had originally been filed by a former Link Flight pricing administrator.
November 28, 1987 |
Investor Paul Bilzerian, whose chances of acquiring Singer Co. for $1.05 billion appear slim because of the company's hostility, is urging that the company be auctioned to the highest bidder, it was disclosed Friday. The Tampa-based investor's $50-a-share bid for Singer was rejected earlier this month and Thursday the company said it was talking to other potential suitors, but not Bilzerian.
October 24, 1985
Cluett, Peabody & Co. said that a federal court in Manhattan has scheduled a hearing for next week on its request that a California investor's effort to buy the apparel maker be blocked. The U.S. District Court in New York also scheduled a hearing on a request by the investor, Paul A. Bilzerian, to block a plan by Cluett, Peabody to buy back 26.4% of its common stock. Both hearings are scheduled for Oct. 30, Cluett, Peabody said. Bilzerian, whose Sacramento-based CPC Acquisition Co.
October 22, 1985 |
Cluett, Peabody & Co. said Monday that its board has rejected a $256-million offer from California investor Paul A. Bilzerian to acquire the apparel concern. The board also executed a "poison pill" provision aimed at thwarting an unwelcome takeover attempt, the firm said. Under the provision, Cluett, Peabody launched an offer to exchange a package of cash, preferred stock and notes valued at $45 a share for up to 2.22 million, or 26.4%, of its 8.4 million total common shares outstanding.
April 12, 1989
Bilzerian Charge Dropped: A federal judge dismissed one of 12 felony counts against Singer Co. Chairman Paul A. Bilzerian but refused to shift the securities fraud trial to Tampa, Fla., where the corporate takeover specialist lives. Bilzerian, 38, is accused of violating securities and tax laws, conspiracy and making false statements in connection with four failed takeover transactions in 1985 and 1986. U.S. District Judge Robert J. Ward dismissed one count of making false disclosure statements in a transaction with Armco Inc. The defense had asked Ward to dismiss all the charges.