January 21, 1992
Nestle U.S.A. Inc. in Glendale terminated talks to acquire the Eskimo Pie Corp. unit of Reynolds Metals Co. after the companies could not agree on terms. As a result, Reynolds said it plans a public offering of its 84% stake in Eskimo Pie, a maker of ice cream products. Both Reynolds and Eskimo Pie are based in Richmond, Va. The remaining 16% of Eskimo Pie is owned by a Reynolds charitable trust and public investors. Nestle U.S.A. controls the American operations of Nestle S.A.
December 31, 1997 |
Pittsburgh-based Aluminum Co. of America scrapped plans to acquire an Alabama aluminum rolling mill from Reynolds Metals Co. after the Justice Department sued to block the $250-million sale on antitrust concerns. In a letter to Richmond, Va.-based Reynolds Metals, Alcoa Chairman and Chief Executive Paul O'Neill said the letter of intent the two companies signed in April is "no longer operative."
December 1, 1987 |
Reynolds Metals Co. announced Monday that it has signed a $1.1-billion loan agreement designed to refinance two major term loans as part of an ongoing cost-reduction program. The company also said it is calling for redemption on Jan. 4 of all of its outstanding first mortgage bonds. The bonds will be redeemed with general corporate funds.
August 17, 1999 |
Alcoa Inc. said Monday that it planned to launch a hostile $4.2-billion bid for rival Reynolds Metals Co., which rejected a friendly cash-and-stock offer. Pittsburgh-based Alcoa, the world's largest producer of aluminum, said it will launch a cash tender offer this week for Reynolds' 64.4 million outstanding shares, seek to remove the company's anti-takeover defense and try to oust its 11-member board. The move came a day after Richmond, Va.-based Reynolds, the No.
October 15, 1991
Nestle USA Inc. in Glendale is negotiating to buy Eskimo Pie Corp. from Reynolds Metals Co., which owns 84% of the ice cream company. Potential terms were not disclosed. Reynolds, the nation's second-largest aluminum concern and the maker of such consumer products as Reynolds Wrap foil, said it wants to sell Eskimo Pie to focus only on aluminum and related businesses. Both Reynolds, which had sales of $6.1 billion last year, and Eskimo Pie are based in Richmond, Va.
August 14, 1999 |
Reynolds Metals Co. got an all-cash takeover offer from a small investment firm, Michigan Avenue Partners, that rivals a half-cash, half-stock offer from Alcoa Inc., the investment firm said. The value of the offer for North America's No. 3 aluminum producer wasn't disclosed, though Chicago-based Michigan Avenue Partners said its offer beats the Alcoa bid. Alcoa valued its offer at $5.6 billion, without providing additional details. At $65 a share, the deal would be worth only $4.