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Santa Anita Operating Co

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BUSINESS
June 21, 1993 | From Times Staff and Wire Reports
Santa Anita Cos. Plans Real Estate Trust: The investment trust and racetrack operator said it will spin off apartments and industrial properties into a new real estate trust and raise at least $60 million through public sales of common shares. It said the money will be used to pay debts and make new property investments in California and Texas. Stock in Santa Anita Realty Enterprises and Santa Anita Operating Co.
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BUSINESS
April 14, 1997 | AMY HARMON, TIMES STAFF WRITER
Santa Anita Cos., owner of the landmark Arcadia racetrack, said Sunday that it agreed to merge with Meditrust, a health-care real estate investment trust, in a deal valued at about $383 million. Santa Anita Chairman William Baker said the deal would allow the track to continue operating as a racing facility.
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SPORTS
February 12, 1993 | BILL CHRISTINE
Bob Strub resigned Thursday as chief executive officer of the Santa Anita Operating Co. and is being succeeded by Stephen F. Keller. Strub, 74, will remain as chairman and chief executive officer of the Los Angeles Turf Club, which conducts racing at the Arcadia track as a subsidiary of Santa Anita Operating. Strub also will continue as chairman of Santa Anita Operating. "It was my recommendation this morning that I resign," Strub said.
BUSINESS
April 2, 1997 | (James F. Peltz)
Santa Anita Cos. said it paid $4 million, plus $500,000 in expenses, to Colony Capital Inc. because their previously announced strategic alliance was terminated. The alliance, first announced last August, was effectively scrapped in January when Arcadia-based Santa Anita decided to entertain other offers seeking control of the racetrack and real estate concern. Colony, a Los Angeles-based real estate company, later joined with Koll Co.
BUSINESS
October 28, 1996 | DEBORA VRANA, TIMES STAFF WRITER
In the latest salvo in the bidding war for control of the Santa Anita Cos., executives at the famed racetrack operator on Sunday reaffirmed a deal with a Los Angeles-based firm, saying a rival bid was incomplete. Santa Anita said it will need more information to evaluate a bid made in early October from a group that includes Apollo Advisors in New York, led by former Drexel Burnham Lambert dealmaker Leon Black and Newport Beach real estate mogul Donald M. Koll.
BUSINESS
August 20, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
Santa Anita Cos. agreed Monday to sell a 45% stake to a Los Angeles real estate firm in a move that presages a wholesale reconsideration of its development plans in Arcadia and elsewhere. The buyer is Colony Capital Inc., which has extensive development holdings in Hawaii and throughout the U.S. Colony would pay $138 million for its stake in a series of complex transactions over two years. The deal, which amounts to $15 a share, requires shareholder approval.
BUSINESS
September 7, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
Is Santa Anita Cos. stacking the odds against its stockholders? That's what some holders asserted Friday, after Santa Anita revised its agreement for a Los Angeles real estate firm to invest $138 million in Santa Anita in exchange for a 45% stake in the company. The firm is Colony Capital Inc., whose chief executive, Thomas J. Barrack Jr., is also a Santa Anita director.
BUSINESS
April 14, 1997 | AMY HARMON, TIMES STAFF WRITER
Santa Anita Cos., owner of the landmark Arcadia racetrack, said Sunday that it agreed to merge with Meditrust, a health-care real estate investment trust, in a deal valued at about $383 million. Santa Anita Chairman William Baker said the deal would allow the track to continue operating as a racing facility.
BUSINESS
March 29, 1997 | JAMES F. PELTZ, TIMES STAFF WRITER
The tortuous chase for control of Santa Anita Cos. took another wide turn Friday when the only bidding group with a publicly announced offer said it has pulled out of the contest. The group--consisting of real estate specialists Koll Co. of Newport Beach, Colony Capital Inc. of Los Angeles and Apollo Real Estate Advisors in New York--made good on an ultimatum in which it threatened to withdraw unless it struck a deal with Santa Anita by the close of business Friday.
BUSINESS
October 10, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
A bidding war for control of Santa Anita Cos. erupted Wednesday as a group including Newport Beach real estate mogul Donald M. Koll offered to buy 55% of the famed racetrack operator as part of a complex deal valued at more than $180 million. Koll teamed up with Apollo Advisors in New York to make the bid, which calls for a cash dividend payment of $14 a share to existing Santa Anita shareholders. Apollo is run by former Drexel Burnham Lambert deal maker Leon Black.
BUSINESS
March 29, 1997 | JAMES F. PELTZ, TIMES STAFF WRITER
The tortuous chase for control of Santa Anita Cos. took another wide turn Friday when the only bidding group with a publicly announced offer said it has pulled out of the contest. The group--consisting of real estate specialists Koll Co. of Newport Beach, Colony Capital Inc. of Los Angeles and Apollo Real Estate Advisors in New York--made good on an ultimatum in which it threatened to withdraw unless it struck a deal with Santa Anita by the close of business Friday.
BUSINESS
December 26, 1996 | DENISE GELLENE, TIMES STAFF WRITER
'Tis the season: The owners of Santa Anita Park have sent 27,000 Arcadia residents four free passes each to attend events at the famous racetrack. The move comes after Santa Anita shelved a plan to build an entertainment complex at the track in the face of stiff community opposition. But track marketing manager Craig Dado said the freebies aren't intended to win local support. "It's our way of saying thank you to the people of Arcadia," he said. Friday: Workplace
BUSINESS
November 13, 1996
Apollo Real Estate Advisors II, an investment group that includes financier Leon Black and Newport Beach real estate mogul Donald Koll, raised its stake in Santa Anita Cos. to 8.5% from 7%. Santa Anita, which owns and operates the Santa Anita racetrack, is actually two enterprises whose shares are "paired" on the NYSE. Apollo, which last month offered to buy a 55% of Santa Anita, purchased 163,400 paired shares at $19.50 to $25.28 each. Santa Anita lost 12.5 cents to close at $26.25.
BUSINESS
October 28, 1996 | DEBORA VRANA, TIMES STAFF WRITER
In the latest salvo in the bidding war for control of the Santa Anita Cos., executives at the famed racetrack operator on Sunday reaffirmed a deal with a Los Angeles-based firm, saying a rival bid was incomplete. Santa Anita said it will need more information to evaluate a bid made in early October from a group that includes Apollo Advisors in New York, led by former Drexel Burnham Lambert dealmaker Leon Black and Newport Beach real estate mogul Donald M. Koll.
BUSINESS
October 10, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
A bidding war for control of Santa Anita Cos. erupted Wednesday as a group including Newport Beach real estate mogul Donald M. Koll offered to buy 55% of the famed racetrack operator as part of a complex deal valued at more than $180 million. Koll teamed up with Apollo Advisors in New York to make the bid, which calls for a cash dividend payment of $14 a share to existing Santa Anita shareholders. Apollo is run by former Drexel Burnham Lambert deal maker Leon Black.
BUSINESS
September 7, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
Is Santa Anita Cos. stacking the odds against its stockholders? That's what some holders asserted Friday, after Santa Anita revised its agreement for a Los Angeles real estate firm to invest $138 million in Santa Anita in exchange for a 45% stake in the company. The firm is Colony Capital Inc., whose chief executive, Thomas J. Barrack Jr., is also a Santa Anita director.
BUSINESS
December 26, 1996 | DENISE GELLENE, TIMES STAFF WRITER
'Tis the season: The owners of Santa Anita Park have sent 27,000 Arcadia residents four free passes each to attend events at the famous racetrack. The move comes after Santa Anita shelved a plan to build an entertainment complex at the track in the face of stiff community opposition. But track marketing manager Craig Dado said the freebies aren't intended to win local support. "It's our way of saying thank you to the people of Arcadia," he said. Friday: Workplace
BUSINESS
August 20, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
Santa Anita Cos. agreed Monday to sell a 45% stake to a Los Angeles real estate firm in a move that presages a wholesale reconsideration of its development plans in Arcadia and elsewhere. The buyer is Colony Capital Inc., which has extensive development holdings in Hawaii and throughout the U.S. Colony would pay $138 million for its stake in a series of complex transactions over two years. The deal, which amounts to $15 a share, requires shareholder approval.
BUSINESS
June 2, 1995 | Times Staff and Wire Reports
Santa Anita Cos. to Sell 3 Million Shares: The Arcadia-based racetrack operator and real estate developer said it plans to use the proceeds from the sale of common stock to reduce debt and finance a portion of a proposed entertainment and retail development adjoining the Santa Anita Racetrack.
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