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BUSINESS
May 7, 1997
Republic Industries Inc. has agreed to acquire two solid-waste companies in Southern California and has bought a third in Idaho for a combined $65 million in stock, adding to Chairman Wayne Huizenga's waste-collection business. Consolidated Disposal Service Inc. of Santa Fe Springs collects waste in Los Angeles County, while Bel-Art Environmental Services Inc. serves Long Beach. The acquisitions are part of Republic's strategy to expand its waste business in the West.
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BUSINESS
April 7, 1999
* Century Business Services Inc. said it plans to sell or spin off its insurance units so it can focus on its accounting and human resources services. The Cleveland-based company said it hired investment bank Donaldson, Lufkin & Jenrette to help it divest the units, which had 1998 revenue of $54.5 million. Century, once a unit of auto retailer Republic Industries Inc., has built up its service businesses through a spate of acquisitions in recent years. * Republic Industries Inc.
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BUSINESS
August 13, 1996 | Times Staff and Wire Reports
Western Resources Increases Stake in ADT: The move by the Topeka, Kan.-based energy company may foreshadow an attempt to block Republic Industries Inc.'s planned acquisition of ADT Ltd., North America's largest electronic security company. Western Resources Inc. spent $24.5 million to increase its stake to 24% from 23.1%, according to a filing with the Securities and Exchange Commission. It also said it "may determine to oppose" Republic's bid for ADT but hasn't made a final decision.
BUSINESS
March 4, 1999 | Bloomberg News
Auto retailer Republic Industries Inc. plans a public sale of its remaining stake in trash hauler Republic Services Inc. after failing to get government approval for a tax-free shareholder distribution. Republic Industries expects to sell 112 million common shares of Republic Services, the fourth-largest U.S. trash hauler, in the second quarter.
BUSINESS
April 23, 1998
* Germany's Hoechst agreed to sell its Trevira polyester unit for at least $2.7 billion to Koch Industries Inc., the second-largest privately held company in the U.S., and Grupo Xtra, a private company in Mexico. It did not release details of the sale. * Republic Industries Inc. agreed to buy Driver's Mart Worldwide Inc., a closely held franchiser of used-car superstores, for $40 million in cash, to accelerate the expansion of Republic's AutoNation USA used-car mega-stores.
BUSINESS
June 21, 1997 | Bloomberg News
In the next two years, Republic Industries Inc. may consider spinning off its waste-management and security businesses into a separate public company, Chairman and Co-Chief Executive H. Wayne Huizenga said. Analysts have advised Republic that it could be valued at a higher price by splitting into two companies once its auto-retailing business is better established. Waste management and security are expected to account for more than $1 billion of the Fort Lauderdale, Fla.
BUSINESS
February 13, 1999 | (John O'Dell)
Republic Industries Inc. said Friday that it has acquired the Lew Webb Lexus dealership in Cerritos under an option issued when it purchased the rest of Irvine-based Webb Automotive Group's operations last year for more than $100 million. Separately Friday, Florida-based Republic confirmed its previously reported deal to purchase the bulk of the operations of another major Orange County dealership group, Tustin-based MacPherson Enterprises.
BUSINESS
February 26, 1997
Republic Industries Inc. completed its $2.5-billion acquisition of National Car Rental System Inc. Republic said it will issue stock worth $803 million and assume Minneapolis-based National's $1.7 billion in debt. In early January, the 21.7 million shares it issued were valued at $600 million, but the shares have surged since then. Fort Lauderdale, Fla.-based Republic, led by billionaire H.
BUSINESS
September 4, 1998 | Bloomberg News
Republic Industries Inc. agreed to buy Cross-Continent Auto Retailers Inc. for $187 million in cash and assumed debt in its first purchase of a publicly traded dealership. Republic, the world's largest retailer of cars and trucks, said it will pay $10.70 a share for Amarillo, Texas-based Cross-Continent, a 66% premium to Wednesday's closing price of $6.44, and assume $42 million in debt. The purchase will add dealerships in Colorado, Nevada, Oklahoma and Texas. Fort Lauderdale, Fla.
BUSINESS
March 4, 1999 | Bloomberg News
Auto retailer Republic Industries Inc. plans a public sale of its remaining stake in trash hauler Republic Services Inc. after failing to get government approval for a tax-free shareholder distribution. Republic Industries expects to sell 112 million common shares of Republic Services, the fourth-largest U.S. trash hauler, in the second quarter.
BUSINESS
February 24, 1999 | JOHN O'DELL, TIMES STAFF WRITER
The nation's two largest operators of used-car superstores appear to be tossing in the towel on their narrow strategy of killing the competition with size and service instead of price. CarMax Group said Tuesday that it will delay expansion of its superstores into the Los Angeles area until next year as it tests a new strategy of opening smaller stores in other metropolitan markets.
BUSINESS
February 13, 1999 | (John O'Dell)
Republic Industries Inc. said Friday that it has acquired the Lew Webb Lexus dealership in Cerritos under an option issued when it purchased the rest of Irvine-based Webb Automotive Group's operations last year for more than $100 million. Separately Friday, Florida-based Republic confirmed its previously reported deal to purchase the bulk of the operations of another major Orange County dealership group, Tustin-based MacPherson Enterprises.
BUSINESS
February 12, 1999 | JOHN O'DELL, TIMES STAFF WRITER
Veteran Orange County auto dealer Joe MacPherson confirmed Thursday that he has agreed to sell most of the dealerships in his Tustin-based MacPherson Enterprises chain to Republic Industries Inc. MacPherson said that he will retain ownership of his Toyota dealership and a new Chevrolet dealership he is building in the nascent Foothill Ranch auto mall.
BUSINESS
February 11, 1999 | JOHN O'DELL, TIMES STAFF WRITER
Megadealer Republic Industries Inc., moving to further expand its hefty Southern California new-car network, has agreed to buy most of Tustin-based MacPherson Enterprises' dealerships, sources said Wednesday. The deal to buy Southern California's eighth-largest auto chain would solidify Republic's position as the largest new-car dealer in Orange County by adding MacPherson's leasing business and its Ford, Chevrolet, Mazda and Infiniti franchises to the 11 dealerships it already owns here.
BUSINESS
December 15, 1998 | DONALD W. NAUSS, TIMES STAFF WRITER
Reflecting the rapid changes roiling the auto retailing industry, Republic Industries on Monday acquired 31 new-car franchises but warned of lower earnings, and General Motors Corp.'s Saturn unit formed an independent company to protect its dealer network from competitors such as Republic. Republic, the nation's largest car dealer, paid $230 million in cash to acquire 10 dealer groups in five states, including 13 franchises in California.
BUSINESS
December 5, 1998 | DONALD W. NAUSS, TIMES STAFF WRITER
Republic Industries, the nation's top car dealer, on Friday hired Sears' marketing chief in an effort to pump some life into its strategy of transforming its AutoNation USA car empire into the first national auto retailing brand. John Costello, who helped create "The Softer Side of Sears" campaign that revitalized the nation's No. 2 retailer, will become president of Republic overseeing marketing as well as car retailing and rental car operations. "John Costello is the best marketer in the U.S.
BUSINESS
September 4, 1998 | Bloomberg News
Republic Industries Inc. agreed to buy Cross-Continent Auto Retailers Inc. for $187 million in cash and assumed debt in its first purchase of a publicly traded dealership. Republic, the world's largest retailer of cars and trucks, said it will pay $10.70 a share for Amarillo, Texas-based Cross-Continent, a 66% premium to Wednesday's closing price of $6.44, and assume $42 million in debt. The purchase will add dealerships in Colorado, Nevada, Oklahoma and Texas. Fort Lauderdale, Fla.
BUSINESS
August 26, 1998
* America Online Inc. said it posted a software fix for an instant-messaging flaw that allows members to send messages that overload and crash other users' computer systems. The technique, called "punting," lets users send dense text and information that freezes and crashes recipients' computer systems. The problem is not widespread, and the company's new AOL 4.0 version software remedies it, the online service said. * * Kellogg Co.
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