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BUSINESS
August 30, 2006 | From Bloomberg News
Riviera Holdings Corp., owner of casinos in Nevada and Colorado, said its shareholders had voted down a $211-million buyout offer from Riv Acquisition Holdings Inc. The $17-a-share proposal required 60% of shares voted in favor to be approved, Riviera said in a filing with the Securities and Exchange Commission. The company's flagship property is Riviera Hotel & Casino in Las Vegas.
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BUSINESS
March 27, 2007 | From Bloomberg News
Riviera Holdings Corp., owner of a casino on the Las Vegas Strip, received a $336.5-million buyout offer from a group of investors including Barry Sternlicht and Robert F.X. Sillerman. Sternlicht, founder of Starwood Hotels & Resorts Worldwide Inc., and Sillerman, owner of the "American Idol" television show and Elvis Presley's estate, offered $27 a share in cash, according to a Securities and Exchange Commission filing Monday.
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BUSINESS
April 11, 2006 | From Reuters
A big investor in Riviera Holdings Corp. said it would vote against a buyout of the casino operator for $17 a share. Riviera agreed last week to be bought by Riv Acquisition Holdings Inc., a private investment group, for about $211.5 million in cash. Riv Acquisition also agreed to assume or repay $215 million in the casino company's debt. D.E. Shaw Group, which holds about 1.
BUSINESS
August 30, 2006 | From Bloomberg News
Riviera Holdings Corp., owner of casinos in Nevada and Colorado, said its shareholders had voted down a $211-million buyout offer from Riv Acquisition Holdings Inc. The $17-a-share proposal required 60% of shares voted in favor to be approved, Riviera said in a filing with the Securities and Exchange Commission. The company's flagship property is Riviera Hotel & Casino in Las Vegas.
BUSINESS
March 27, 2007 | From Bloomberg News
Riviera Holdings Corp., owner of a casino on the Las Vegas Strip, received a $336.5-million buyout offer from a group of investors including Barry Sternlicht and Robert F.X. Sillerman. Sternlicht, founder of Starwood Hotels & Resorts Worldwide Inc., and Sillerman, owner of the "American Idol" television show and Elvis Presley's estate, offered $27 a share in cash, according to a Securities and Exchange Commission filing Monday.
BUSINESS
April 13, 2006 | From the Associated Press
A major shareholder of casino operator Riviera Holdings Corp. said that an offer to buy the company for $17 a share was too low and that it would vote against the deal. "We don't think this is the right price," said Marc Sole, senior vice president of New York investment firm D.E. Shaw & Co., whose group of affiliated firms holds a 9.9% stake in Las Vegas-based Riviera. "If this deal fails and if there's no other bid forthcoming, so be it," he said Wednesday. D.E.
BUSINESS
May 12, 2007 | From Times Wire Services
Casino company Riviera Holdings Corp., which had rebuffed a takeover bid from investors including Barry Sternlicht, said it had received a buyout offer of $373.9 million from a group led by Ian Bruce Eichner and Dune Capital Management.
BUSINESS
April 1, 2009 | Times Wire Reports
Casino operator Riviera Holdings Corp. says it will miss a roughly $4-million interest payment and may be headed into bankruptcy. The owner of the Riviera hotel-casino in Las Vegas and the Riviera Black Hawk in Colorado says it can't make a payment due Monday on its $245-million credit facility. Riviera Holdings reported a net loss of $12.7 million for the fourth quarter of 2008, or $1.02 per share. It lost $6.1 million, or $0.50 per share, in the same period in 2007. Revenue was down 24%, to $36 million.
BUSINESS
April 7, 2006 | From Reuters
A group of private investors has agreed to buy hotel-casino operator Riviera Holdings Corp. for $211.5 million, with an eye on the company's Las Vegas Strip property, the company said Thursday. The investment group, Riv Acquisition Holdings Inc., will pay $17 a share. Shares of Las Vegas-based Riviera rose 80 cents Thursday to $18.94.
BUSINESS
December 14, 2006 | From the Associated Press
Bidders seeking to take over casino operator Riviera Holdings Corp. have withdrawn their offer after they were unable to persuade shareholders to sell for $21 a share, real estate developer Ian Bruce Eichner said Wednesday. Eichner and a member of New York-based D.E. Shaw Group last month offered to take the company private for $262.5 million, but the share price promptly shot above $21 on speculation that a higher bid would emerge.
BUSINESS
April 13, 2006 | From the Associated Press
A major shareholder of casino operator Riviera Holdings Corp. said that an offer to buy the company for $17 a share was too low and that it would vote against the deal. "We don't think this is the right price," said Marc Sole, senior vice president of New York investment firm D.E. Shaw & Co., whose group of affiliated firms holds a 9.9% stake in Las Vegas-based Riviera. "If this deal fails and if there's no other bid forthcoming, so be it," he said Wednesday. D.E.
BUSINESS
April 11, 2006 | From Reuters
A big investor in Riviera Holdings Corp. said it would vote against a buyout of the casino operator for $17 a share. Riviera agreed last week to be bought by Riv Acquisition Holdings Inc., a private investment group, for about $211.5 million in cash. Riv Acquisition also agreed to assume or repay $215 million in the casino company's debt. D.E. Shaw Group, which holds about 1.
BUSINESS
July 11, 1995 | From Bloomberg Business News
Tomima Edmark used her head before investing her money. Like other inventors, the woman behind the Topsy Tail hair tool turned a patent into profit. The former International Business Machines Corp. saleswoman dreamed up the hair device that flips a ponytail inside out while standing in line with her mother to see a movie. She made a prototype that night and filed for a patent two months later, adding it to her patented clothes hanger and place settings.
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