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BUSINESS
January 18, 1992 | From Times Staff and Wire Reports
Lockheed, Martin Marietta May Bid for LTV Units: Martin Marietta Corp. and Lockheed Corp. are "moving toward" making a bid of more than $350 million for LTV Corp.'s aerospace and defense business, according to a story in the Wall Street Journal. Quoting unnamed sources close to the negotiations, the Journal said the pair would run the LTV operations as a 50-50 joint venture if their bid was successful.
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BUSINESS
November 27, 2009 | Bloomberg News
Beijing Automotive Industry Holding Co., Merbanco Inc. and Renco Group Inc. have made approaches about General Motors Co.'s Saab unit after the collapse of a sale to Koenigsegg Group, two people familiar with the situation said. No written proposals have been submitted, and any new bids or other options for the Swedish unit will be reviewed by Detroit-based GM's board at a meeting next week, said one of the people, who asked not to be identified because the discussions are confidential.
BUSINESS
June 23, 1988 | Associated Press
A federal judge ruled Wednesday that a government agency can't force the financially ailing LTV Corp. to reassume more than $2 billion in pension obligations simply because a new labor contract restored previously cut benefits. "Since the agency's decision is not sustainable on the administrative record, the appropriate remedy is to vacate the restoration decision (giving back responsibility for the pensions to LTV)," ruled U.S. District Judge Robert W. Sweet, sitting in New York.
BUSINESS
August 11, 2004 | From Bloomberg News
Billionaire financier Ronald O. Perelman is adding the Hummer sport utility vehicle to his stable of holdings. Perelman's MacAndrews & Forbes Holdings Inc. is forming a joint venture with Renco Group Inc. to own AM General, which makes the Hummer for General Motors Corp., the companies said Tuesday. Terms weren't disclosed.
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