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BUSINESS
July 10, 2007 | From Reuters
Private equity firm Carlyle Group said Monday it would buy aircraft and auto parts maker Sequa Corp. for $2 billion. The $175-a-share offer amounts to a 54% premium to the stock's most recent closing price. Including debt, the deal is worth $2.7 billion. New York-based Sequa said the estate of founder Norman Alexander and related entities, which hold about 54% of the company, have agreed to vote in favor of the transaction. Alexander died in December.
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BUSINESS
May 6, 2003 | From Bloomberg News
GenCorp Inc., a maker of automotive and aerospace components, agreed Monday to buy Sequa Corp.'s rocket propulsion unit for about $133 million in cash to capture more business in the defense and space industries. Sequa's Atlantic Research Corp., which makes solid-rocket propulsion systems, gas generators and auxiliary rocket motors, had sales of about $150 million in 2002. GenCorp, headquartered in Rancho Cordova, Calif., will combine the assets of Gainesville, Va.
BUSINESS
July 10, 2007 | From Reuters
Private equity firm Carlyle Group said Monday it would buy aircraft and auto parts maker Sequa Corp. for $2 billion. The $175-a-share offer amounts to a 54% premium to the stock's most recent closing price. Including debt, the deal is worth $2.7 billion. New York-based Sequa said the estate of founder Norman Alexander and related entities, which hold about 54% of the company, have agreed to vote in favor of the transaction. Alexander died in December.
BUSINESS
May 6, 2003 | From Bloomberg News
GenCorp Inc., a maker of automotive and aerospace components, agreed Monday to buy Sequa Corp.'s rocket propulsion unit for about $133 million in cash to capture more business in the defense and space industries. Sequa's Atlantic Research Corp., which makes solid-rocket propulsion systems, gas generators and auxiliary rocket motors, had sales of about $150 million in 2002. GenCorp, headquartered in Rancho Cordova, Calif., will combine the assets of Gainesville, Va.
BUSINESS
August 14, 1990
Perceptronics in Woodland Hills said it expects to be awarded two subcontracts totaling $7.4 million for its production of simulators for tank and missile gunnery training. One subcontract is with Loral Fairchild Systems and calls for delivery of up to 320 antitank missile training simulators over about 14 months. The other, with the Kollsman division of Sequa Corp., is for four tank-training simulators and related equipment to be delivered in 12 months, Perceptronics said.
BUSINESS
January 19, 1993
Special Devices Inc., a Newhall maker of explosive devices such as those used for triggering car air bags, said its fiscal fourth-quarter profit slipped 10% from a year earlier despite a 28% sales gain. In the quarter that ended Oct. 31, Special Devices' net income fell to $443,000 from $491,000 a year earlier. The year-ago results included a pro forma income-tax adjustment because Special Devices completed its initial public stock offering in August, 1991.
BUSINESS
October 4, 1995 | From Associated Press
In court documents unsealed Tuesday, Procter & Gamble Co. alleged that Bankers Trust New York Corp. defrauded P&G and eight other customers, causing them to lose hundreds of millions of dollars. The 750-page documents are the most detailed account of the company's dealings with Bankers Trust to be made public. They paint a picture of greedy and deceptive practices.
BUSINESS
September 23, 1988 | Associated Press
The number of giant profitable corporations that legally paid no federal income tax was cut by more than half last year, according to a new study, but backers of the landmark 1986 tax overhaul said Thursday that the figure may never drop to zero.
CALIFORNIA | LOCAL
October 27, 1987 | JENIFER WARREN, Times Staff Writer
George T. Straza, the flamboyant former jet parts manufacturer convicted of defrauding a government contractor by double-dealing in engine components, was sentenced Monday to three years in prison and fined $239,400. Also sentenced by U.S. District Judge Leland C. Nielsen was Alice Skinner of Lakeside, Straza's former personal secretary at the now-defunct Jet Air Inc. in El Cajon.
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