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NEWS
April 26, 1988
C. M. (Max) Hoover, 68, who as chairman of the Roper Corp. oversaw a restructuring of the appliance manufacturer. Hoover joined Roper in 1961 and was elected chairman and chief executive officer in 1967. He retired as CEO in 1985 but stayed on as chairman. During his tenure as chief executive, he restructured Roper's manufacturing facilities and built it into the largest manufacturer of lawn-mowing equipment and the nation's third-largest maker of electric and gas ranges.
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NEWS
April 26, 1988
C. M. (Max) Hoover, 68, who as chairman of the Roper Corp. oversaw a restructuring of the appliance manufacturer. Hoover joined Roper in 1961 and was elected chairman and chief executive officer in 1967. He retired as CEO in 1985 but stayed on as chairman. During his tenure as chief executive, he restructured Roper's manufacturing facilities and built it into the largest manufacturer of lawn-mowing equipment and the nation's third-largest maker of electric and gas ranges.
BUSINESS
April 2, 1988 | Associated Press
The battle to acquire Roper Corp. appeared to be over with the announcement that Whirlpool Corp. was ending its bid, allowing General Electric Co. to proceed unopposed with a $507.6-million offer. A spokesman for GE said the Fairfield, Conn.-based company would extend its offer until 5 p.m. Monday. But Robert Cook, chairman of Augusta-based Roper, indicated that he expected the deal to go through quickly and smoothly. "I'd say it's over," Cook said.
BUSINESS
March 8, 1988 | Associated Press
General Electric on Monday announced a $423-million cash tender offer for all outstanding shares of Roper Corp., which last month signed a merger agreement with Whirlpool Corp., a GE competitor in the major appliance field. The GE offer is $45 a share, or $423 million, for Roper's 9.4 million common shares outstanding. GE topped Whirlpool's bid of $37.50 a share, or $352.5 million. Analysts applauded GE's attempt to one-up a competitor in the major appliance field.
BUSINESS
March 30, 1988 | Associated Press
Roper Corp.'s directors changed sides Tuesday in the takeover fight for the appliance manufacturer, saying stockholders should sell to General Electric Co. instead of Whirlpool Corp. Roper's board determined that GE's $508-million tender offer was clearly superior to Whirlpool's $470-million bid, the company said in withdrawing a recommendation of Whirlpool made March 18. "Discussions with Whirlpool . . .
BUSINESS
April 2, 1988 | Associated Press
The battle to acquire Roper Corp. appeared to be over with the announcement that Whirlpool Corp. was ending its bid, allowing General Electric Co. to proceed unopposed with a $507.6-million offer. A spokesman for GE said the Fairfield, Conn.-based company would extend its offer until 5 p.m. Monday. But Robert Cook, chairman of Augusta-based Roper, indicated that he expected the deal to go through quickly and smoothly. "I'd say it's over," Cook said.
BUSINESS
March 22, 1988 | LINDA WILLIAMS, Times Staff Writer
A battle over the kitchen stove heated up Monday as General Electric Co. and Whirlpool Corp. continued to slug it out for control of an important manufacturer of gas and electric ranges. The fight for Roper, which makes Kenmore ranges for Sears, got nastier and more expensive as GE increased its bid to $507.6 million and filed lawsuits to stop rival Whirlpool from acquiring the Augusta, Ga.-based appliance maker.
BUSINESS
March 8, 1988 | From Times Wire Services
Takeover news and speculation provided most of the excitement in an otherwise quiet, drifting stock market session Monday. Analysts said the general market was held back by new doubts about the outlook for interest rates. The Dow Jones index of 30 industrials slipped 1.49 to 2,056.37. Advancing issues outnumbered declines by about 8 to 7 on the New York Stock Exchange. Big Board volume came to 152.58 million shares, down from 201.41 million in the previous session.
BUSINESS
March 30, 1988 | Associated Press
Roper Corp.'s directors changed sides Tuesday in the takeover fight for the appliance manufacturer, saying stockholders should sell to General Electric Co. instead of Whirlpool Corp. Roper's board determined that GE's $508-million tender offer was clearly superior to Whirlpool's $470-million bid, the company said in withdrawing a recommendation of Whirlpool made March 18. "Discussions with Whirlpool . . .
BUSINESS
March 22, 1988 | LINDA WILLIAMS, Times Staff Writer
A battle over the kitchen stove heated up Monday as General Electric Co. and Whirlpool Corp. continued to slug it out for control of an important manufacturer of gas and electric ranges. The fight for Roper, which makes Kenmore ranges for Sears, got nastier and more expensive as GE increased its bid to $507.6 million and filed lawsuits to stop rival Whirlpool from acquiring the Augusta, Ga.-based appliance maker.
BUSINESS
March 8, 1988 | Associated Press
General Electric on Monday announced a $423-million cash tender offer for all outstanding shares of Roper Corp., which last month signed a merger agreement with Whirlpool Corp., a GE competitor in the major appliance field. The GE offer is $45 a share, or $423 million, for Roper's 9.4 million common shares outstanding. GE topped Whirlpool's bid of $37.50 a share, or $352.5 million. Analysts applauded GE's attempt to one-up a competitor in the major appliance field.
NEWS
March 7, 1988 | Times Wire Services
Mobil Corp., the nation's second-largest oil company, announced today that it has finally decided the fate of its Montgomery Ward & Co. subsidiary and will sell the Chicago-based retailer to the unit's management for about $3.8 billion. Meanwhile, General Electric Co. launched a surprise $45-a-share tender offer for appliance maker Roper Corp. that eclipses the $37.50-a-share offer from Whirlpool that Roper had already accepted, giving a sharp lift to its shares.
BUSINESS
August 19, 1988 | From Reuters
Whirlpool Corp. said Thursday that it would buy a majority stake in the large-appliance division of NV Philips of the Netherlands for $470 million, making it the world's largest appliance manufacturer. Whirlpool said it will acquire a 53% stake in a new joint venture that will manufacture and market major appliances under the Philips brand name. Whirlpool said the purchase will make it the world leader in the industry, with annual sales of about $6 billion.
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