April 19, 1989
A group led by LA Partners L.P. of New York, has reduced its stake in UAL Corp., the Chicago-based parent of United Airlines, from 5.51% to 4%, or 849,435 common shares. The group, which also includes LA International Ltd., sold a total of 310,300 UAL shares between March 31 and April 14 for from $117.25 to $120 each, according to a filing with the Securities and Exchange Commission. Several principals in LA Partners, including Paul E. Tierney Jr., are also involved with Coniston Partners, the group bidding to acquire TW Services.
October 27, 1989 |
Jitters in the junk bond market have forced the investment group that agreed to buy TW Services, which owns Denny's coffee shops, to reduce the amount of these high-yield, high-risk bonds involved in financing the deal. New York-based Coniston Partners postponed the sale of $1.1 billion worth of junk bonds to be issued as a part of its takeover of TW, which also owns the Hardee's and El Pollo Loco fast food chains and a 42% interest in Winchell's Donut Houses.
January 28, 1988 |
Allegis Corp.'s largest stockholder says the company's new management wants to renege on a promised $3-billion payout to shareholders, but some experts said Wednesday that they believe that Allegis will fulfill its pledge. Coniston Partners, a New York investment firm with a 14% stake in the Chicago-based parent of United Airlines, threatened in a letter to Allegis' board to renew a proxy battle for control of the company if the directors reduce the size of the previously announced payout.
October 29, 1988 |
Coniston Partners, which launched a tender offer to acquire food service giant TW Services Inc., said Friday that it would sell off the company's small health-services operations if the deal is successful. The operation, which employs about 4,100 people, reported revenue of $100 million last year. It is a very small part of TW's overall operations, which include the Denny's and Hardee's restaurant chains.
October 19, 1990 |
The embattled parent of United Airlines on Thursday made peace with its largest shareholder, effectively ending a 15-month takeover siege. UAL Corp. said two principals from shareholder Coniston Partners will join its board. In return, New York money manager Coniston will not sell shares "in any major block" and will not buy shares "to any material extent" for 2 1/2 years. The surprise agreement prevents Coniston, which owns 11.
May 8, 1985 |
The chairman of Storer Communications predicted Tuesday that shareholders would end up reelecting a majority of the current board of directors and keep control of the embattled company out of the hands of dissident stockholders. But Augustus K. Oliver, general partner for New York-based Coniston Partners, which wants Storer sold and liquidated, said, "There's no question we'll get significant representation."