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BUSINESS
August 29, 1996 | Times Staff and Wire Reports
Bass Group Creates Investment Fund: Keystone Inc. and Oak Hill Partners Inc. of Lyme, N.H., said they are forming a $1.75-billion investment fund to invest in high-yield securities, bank loans, securities of struggling companies and other instruments. Keystone is run by Texas investor Robert Bass. Chase Manhattan Corp. and Wells Fargo & Co. arranged a $1.2-billion credit line for the fund. The banks have set up a syndicate of 19 banks to finance the credit line.
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BUSINESS
November 5, 1993 | JOHN LIPPMAN, TIMES STAFF WRITER
Southwestern Bell Corp., Cox Enterprises and the Robert M. Bass Group are close to an agreement that would create the nation's third-largest cable TV company, industry sources said Thursday. The deal would be the latest marriage between a cable TV operator and a telephone company as the major players in the telecommunications industry race to realign themselves to pave the way for an anticipated future of interactive television and hundreds of channels.
BUSINESS
February 1, 1989 | From Reuters
The last major independent book publishing company left after a wave of mergers became the center of takeover speculation Tuesday as the Robert M. Bass Group announced that it holds a 5.6% stake in Houghton Mifflin Co. The old-line Boston publisher is considered the only pure book publishing company of any size that is independently owned. It publishes school texts and general-interest books, and owns a valuable back list of titles.
BUSINESS
May 29, 1988 | TOM FURLONG, Times Staff Writer
Robert Muse Bass, the man behind the Robert M. Bass Group, is a baby-faced tycoon with an increasing affinity for high-profile business deals. Part of the well-known billionaire Bass brothers clan of Ft. Worth, Robert Bass has shed the shadow of his older brother, Sid, in recent years and now finds himself compared to corporate takeover artists like Carl C. Icahn and David H. Murdock. Like other private investors of his ilk, Bass loathes public attention.
BUSINESS
March 22, 1989 | KATHRYN HARRIS, Times Staff Writer
The price of Time Inc. shares surged $7.75 in active trading Tuesday, following a published report that the Robert M. Bass Group has accumulated a 2% stake and is considering making an offer for the publishing giant. Late Tuesday, however, a Time official said that Bass is not expected to mount a hostile bid. "That's our very strong view," the executive said. "Whether they have a stock position or not, the final (point is) . . . there is nothing going on."
BUSINESS
September 16, 1988 | TOM FURLONG, Times Staff Writer
Private investor Robert M. Bass went to Capitol Hill Thursday to explain why his offer to buy American Savings & Loan is a good deal for everyone--and why he should not have to testify about it before Congress. The effort marked a rare public appearance for the 40-year-old Texas billionaire, who has developed a deep-seated aversion to publicity. Bass has yet to explain publicly why he wants to buy insolvent American Savings, which is headquartered in Stockton and has offices all over California.
BUSINESS
September 14, 1991 | JAMES BATES, TIMES STAFF WRITER
The remnants of Columbia Savings & Loan, the nation's most profitable thrift when it rode the 1980s junk bond boom, were sold by federal officials Friday to American Savings Bank, putting to rest a failure that will cost taxpayers $1.2 billion. In what amounts to pocket change in the thrift business, American, owned by the Robert M. Bass Group, will assume 20 branches and $794 million in core deposits for a scant $6.1 million.
BUSINESS
January 19, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
The federal Resolution Trust Corp. said Friday that it will seek to renegotiate the 1988 federally assisted sale of American Savings & Loan to the Robert M. Bass Group, as part of a new initiative of the Bush Administration. Bass of Fort Worth, Tex., bought insolvent American Savings in late 1988 with an estimated $2.7 billion in federal assistance. The deal was among a flurry of controversial sales of troubled thrifts in 1988 that critics have said amounted to a federal giveaway.
BUSINESS
May 4, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Majority owners of Freedom Newspapers Inc., worried that dissident shareholder Harry H. Hoiles might align himself with takeover specialist Robert M. Bass, have created a voting block to thwart unwanted suitors for their family operation. The majority shareholders, representing two branches of founder R. C.
BUSINESS
May 4, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Majority owners of Freedom Newspapers Inc., worried that dissident shareholder Harry H. Hoiles may align himself with takeover specialist Robert M. Bass, have created a voting block to thwart unwanted suitors for their family operation. The majority shareholders, representing two families, hired New York merger lawyer Martin Lipton to devise an agreement that votes their shares as a block and essentially prohibits them from selling their stock to anyone but members of the two families.
BUSINESS
April 25, 1990 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
Robert M. Bass Group, owners of American Savings Bank of Stockton, has joined the handful of investors known to be considering offers to buy troubled Great American Bank. Well-placed sources on both sides said Bass Group is "taking a look" at buying the San Diego-based savings and loan, which last week said it faces a possible seizure by regulators unless it can find a buyer or raise $350 million in capital by year-end.
BUSINESS
February 5, 1990 | JAMES BATES, TIMES STAFF WRITER
It owned a foreclosed bordello, a mine that produced a Kitty Litter-like gravel for cats and a collection of securities and loans that at one point were worth a staggering $3 billion less than their original value. In short, American Savings, once the nation's largest savings and loan, up until the end of 1988 was the thrift industry's equivalent of a huge toxic waste dump. It was a mess in need of a mind-boggling clean-up job, with nasty surprises lurking everywhere.
BUSINESS
November 3, 1988 | Associated Press
Anchor Media has purchased Sacramento television station KOVR for $162 million in an unsolicited bid, becoming the station's fourth owner this decade, station officials said. KOVR, an ABC affiliate, is the largest station acquired by Anchor Media, which is based in St. Petersburg, Fla., and owns television and radio stations in four other states. Anchor Media purchased KOVR from Narragansett Capital Inc., which bought the station in 1986 for $104 million.
BUSINESS
August 5, 1988 | TOM FURLONG, Times Staff Writer
State Sen. John Garamendi (D-Walnut Grove) announced Thursday that he is throwing his full support behind a tax bill in the California Legislature designed to pave the way for Texas billionaire Robert M. Bass to buy ailing American Savings & Loan. Garamendi's move follows new assurances from the Robert M. Bass Group that it will not dismember the company's operations in Stockton if the sale goes through. American Savings is based in Stockton and employs about 1,700 people there.
BUSINESS
November 22, 1989 | From Reuters
Robert M. Bass Group, the Texas takeover concern, said Tuesday that it and partners hold 5.9% of embattled Avon Products Inc., and analysts said the stake may put further pressure on the cosmetics firm to merge or be taken over. Avon shares closed up 75 cents at $36.125 in New York Stock Exchange trading. Trading in Avon's shares was heavy, with more than 1 million changing hands, and analysts said the Bass statement could heat up any fight for Avon, which has vowed to stay independent.
BUSINESS
April 7, 1989 | GEORGE WHITE, Times Staff Writer
A partnership including the far-flung Robert M. Bass Group of Ft. Worth and the Shearson Lehman Hutton investment firm on Thursday agreed to acquire 7.5% of Vons Cos. for $38 million. The buyers, operating under the name Acadia Partners, would increase their stake in the El Monte supermarket chain to 8.8% overall and become the company's second-largest shareholder. In a separate, smaller transaction, Vons' biggest shareholder--leveraged buyout specialists Kohlberg Kravis Roberts & Co.
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