Advertisement
YOU ARE HERE: LAT HomeCollectionsScm Corp
IN THE NEWS

Scm Corp

FEATURED ARTICLES
ARTICLES BY DATE
BUSINESS
April 27, 1989 | From Times Wire Services
Shares of copier giant Xerox Corp. jumped in heavy trading Wednesday on talk that it might be a takeover target of British conglomerate Hanson PLC. Xerox stock rose $2.50 to $67.50 on volume of more than 1.3 million shares on the New York Stock Exchange. Wall Street analysts said Xerox could be vulnerable to a takeover by Hanson or another firm that might break up its diversified businesses, which range from insurance to stock brokerage, plus its well-known business machines.
Advertisement
BUSINESS
August 26, 1985
In taking the action, SCM Corp.'s directors said the $755-million bid from the British conglomerate was inadequate and instructed management to work with investment bankers Goldman, Sachs to explore ways of maximizing the company's value to shareholders, including a possible leveraged buy-out. The board said it believed that "there could be a much better deal for its stockholders, employees and all other members of the SCM family."
BUSINESS
October 16, 1985
Officials of SCM Corp. and a buy-out group led by Merrill Lynch agreed to delay the deal, in which Merrill Lynch would at least obtain SCM's profitable pigments and Durkee frozen food lines for $430 million. That sale, previously scheduled for next Monday, now would take place Oct. 28. U.S.
BUSINESS
September 5, 1985
The company said in a filing with the SEC that the $70-per-share leveraged buy-out bid by Merrill Lynch Capital Markets and senior members of SCM Corp.'s management will be canceled if the offer isn't raised within five days. SCM said the offer must at least match the competing $72-per-share offer by British conglomerate Hanson Trust. Separately, financier Ivan F. Boesky said he spent $57.5 million to buy 864,900 shares of the diversified firm, or 8.
BUSINESS
September 16, 1985 | From Reuters
Hanson Trust PLC was indefinitely barred by a federal court on Saturday from acquiring any more shares in SCM Corp. or exercising voting rights of shares acquired after it withdrew its tender for SCM. SCM, which has an agreement with Merrill Lynch and Co., to be acquired at $74 a share, or a total of $917.6 million, sought the restraining order on grounds that Hanson illegally and secretly acquired a large amount of SCM stock after ending a $72-a-share bid. The ruling, by U.S.
BUSINESS
April 27, 1989 | From Times Wire Services
Shares of copier giant Xerox Corp. jumped in heavy trading Wednesday on talk that it might be a takeover target of British conglomerate Hanson PLC. Xerox stock rose $2.50 to $67.50 on volume of more than 1.3 million shares on the New York Stock Exchange. Wall Street analysts said Xerox could be vulnerable to a takeover by Hanson or another firm that might break up its diversified businesses, which range from insurance to stock brokerage, plus its well-known business machines.
BUSINESS
January 10, 1986 | Associated Press
Hanson Trust PLC, having won a bitter fight to acquire SCM Corp., turned its sights across the Atlantic on Thursday to pursue its $2.8 billion hostile takeover of Imperial Group PLC of Britain. SCM, a New York-based maker of chemicals, coatings and office equipment, agreed Wednesday night to transfer control after Hanson, a London-based conglomerate, acquired more than 72 percent of SCM's stock. Hanson forged ahead with its $75-a-share, $927.
BUSINESS
January 10, 1986 | Associated Press
Hanson Trust PLC, having won a bitter fight to acquire SCM Corp., turned its sights across the Atlantic on Thursday to pursue its $2.8 billion hostile takeover of Imperial Group PLC of Britain. SCM, a New York-based maker of chemicals, coatings and office equipment, agreed Wednesday night to transfer control after Hanson, a London-based conglomerate, acquired more than 72 percent of SCM's stock. Hanson forged ahead with its $75-a-share, $927.
BUSINESS
October 16, 1985
Officials of SCM Corp. and a buy-out group led by Merrill Lynch agreed to delay the deal, in which Merrill Lynch would at least obtain SCM's profitable pigments and Durkee frozen food lines for $430 million. That sale, previously scheduled for next Monday, now would take place Oct. 28. U.S.
BUSINESS
September 16, 1985 | From Reuters
Hanson Trust PLC was indefinitely barred by a federal court on Saturday from acquiring any more shares in SCM Corp. or exercising voting rights of shares acquired after it withdrew its tender for SCM. SCM, which has an agreement with Merrill Lynch and Co., to be acquired at $74 a share, or a total of $917.6 million, sought the restraining order on grounds that Hanson illegally and secretly acquired a large amount of SCM stock after ending a $72-a-share bid. The ruling, by U.S.
BUSINESS
September 5, 1985
The company said in a filing with the SEC that the $70-per-share leveraged buy-out bid by Merrill Lynch Capital Markets and senior members of SCM Corp.'s management will be canceled if the offer isn't raised within five days. SCM said the offer must at least match the competing $72-per-share offer by British conglomerate Hanson Trust. Separately, financier Ivan F. Boesky said he spent $57.5 million to buy 864,900 shares of the diversified firm, or 8.
BUSINESS
August 26, 1985
In taking the action, SCM Corp.'s directors said the $755-million bid from the British conglomerate was inadequate and instructed management to work with investment bankers Goldman, Sachs to explore ways of maximizing the company's value to shareholders, including a possible leveraged buy-out. The board said it believed that "there could be a much better deal for its stockholders, employees and all other members of the SCM family."
BUSINESS
August 20, 1986
Durkee, which makes flavor enhancers such as spices and sauce and gravy mixes, was a subsidiary of SCM Corp., which was purchased last March by a London conglomerate, Hanson Trust, for $930 million. Since then, Hanson has recouped the SCM purchase price by selling various SCM units, including Durkee to Reckitt & Colman, a British food group. Last week Hanson sold SCM's Glidden paint and resins division.
Los Angeles Times Articles
|