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Shamrock Investments Acquisition Corp

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BUSINESS
June 4, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
A bidding war broke out for California's second-biggest HMO on Monday, as Health Net drew an unsolicited $200-million takeover bid from a Los Angeles investor group that eclipsed an offer of $108 million made earlier by top management. Meanwhile, Pacific Mutual Life Insurance Co., one of California's largest life insurers, confirmed earlier Monday that it also is discussing a "cooperative venture" with Health Net. But Pacific Mutual, a Newport Beach-based insurer with $9.
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BUSINESS
June 11, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Health Net said Monday that its directors rejected two outside offers to buy the HMO, but not before giant hospital operator Humana Inc. weighed in with a third bid to purchase the Woodland Hills-based concern. A fourth acquisition offer--a controversial $108-million proposal from Health Net Chairman Roger F. Greaves and 31 other company executives--remains the smallest of the bids received but is still favored by the HMO's board.
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BUSINESS
June 11, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Health Net said Monday that its directors rejected two outside offers to buy the HMO, but not before giant hospital operator Humana Inc. weighed in with a third bid to purchase the Woodland Hills-based concern. A fourth acquisition offer--a controversial $108-million proposal from Health Net Chairman Roger F. Greaves and 31 other company executives--remains the smallest of the bids received but is still favored by the HMO's board.
BUSINESS
June 4, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
A bidding war broke out for California's second-biggest HMO on Monday, as Health Net drew an unsolicited $200-million takeover bid from a Los Angeles investor group that eclipsed an offer of $108 million made earlier by top management. Meanwhile, Pacific Mutual Life Insurance Co., one of California's largest life insurers, confirmed earlier Monday that it also is discussing a "cooperative venture" with Health Net. But Pacific Mutual, a Newport Beach-based insurer with $9.
BUSINESS
June 6, 1989 | GEORGE WHITE, Times Staff Writer and
A partnership making a $1.8-billion bid for American Medical International has disclosed how it plans to finance the deal, outlining the cash portion of the bid and revealing commitments from a New York-based takeover specialist and two big investment banks. The announcement ends speculation over whether a group led by Dr. M. Lee Pearce--an AMI director and a major shareholder in the Beverly Hills-based hospital management firm--could attract the financial clout needed to complete a deal.
BUSINESS
June 4, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
A bidding war broke out for Health Net on Monday, as the state's second-largest HMO drew an unsolicited, $200-million takeover bid from a Los Angeles investor group that eclipsed an offer of $108 million made earlier by Health Net's management. Shamrock Investments, a 4-year-old firm that focuses on health-care investments, said it sent a letter to Health Net's management offering $40 million in cash and a $160-million, 14-year note, whose other terms would be negotiated.
BUSINESS
April 15, 1989 | GEORGE WHITE, Times Staff Writer
An investor group including some of the billionaire Bass brothers of Texas warned American Medical International that the group may sue or attempt to take over the company if management fails to take quick action to boost the value of AMI stock. RTF Partners, which holds an 11.6% stake in the Beverly Hills-based hospital management firm, issued the warning in a document filed Friday with the Securities and Exchange Commission. The possible suit would involve AMI management's legal obligation to act in the best interest of shareholders.
BUSINESS
April 20, 1989 | GEORGE WHITE, Times Staff Writer
American Medical International, under pressure from key shareholders to respond to a bid to buy the company, said Wednesday that it will seek other offers. The Beverly Hills hospital management firm decided to encourage others to bid before taking a position on a $24-a-share buyout offer from a group led by Dr. M. Lee Pearce, an AMI director and major shareholder. Pearce and his two partners in Shamrock Investments Acquisition Corp., a Los Angeles group that is unrelated to Roy E. Disney's Shamrock Holdings, joined forces March 23 and offered to buy AMI for $1.7 billion, nearly all in cash.
BUSINESS
March 27, 1989 | KATHRYN HARRIS, Times Staff Writer
American Medical International, under pressure to boost the value of its shares, said its board has received two different proposals--including a plan put forward by a director to take the company private. The director--Dr. M. Lee Pearce, a savvy investor who trained as both a lawyer and physician--has joined with two former AMI executives to propose a leveraged buyout at a price of $24 per share, including cash of $20 to $22.
BUSINESS
June 4, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
A bidding war broke out for Health Net on Monday, as the state's second-largest HMO drew an unsolicited, $200-million takeover bid from a Los Angeles investor group that eclipsed an offer of $108 million made earlier by Health Net's management. Shamrock Investments, a 4-year-old firm that focuses on health-care investments, said it sent a letter to Health Net's management offering $40 million in cash and a $160-million, 14-year note, whose other terms would be negotiated.
BUSINESS
June 6, 1989 | GEORGE WHITE, Times Staff Writer and
A partnership making a $1.8-billion bid for American Medical International has disclosed how it plans to finance the deal, outlining the cash portion of the bid and revealing commitments from a New York-based takeover specialist and two big investment banks. The announcement ends speculation over whether a group led by Dr. M. Lee Pearce--an AMI director and a major shareholder in the Beverly Hills-based hospital management firm--could attract the financial clout needed to complete a deal.
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