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Shearson Lehman Hutton Holdings Inc

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BUSINESS
May 2, 1989
Scherer to Go Private: R. P. Scherer Corp., a leading maker of gelatin capsules for drugs, medicines and vitamins, said it will go private in a leveraged buyout. The company did not price the transaction but sources close to Scherer valued it at $440 million. Scherer will be acquired by RPS Corp., a vehicle formed by investment bank Shearson Lehman Hutton Holdings Inc. Scherer, based in Troy, Mich., said it decided Sept. 30 to seek a buyer for the company. Sealed bids were opened last Wednesday and negotiations with Shearson led to Monday's deal.
BUSINESS
May 4, 1989
Mike Madden, former investment banking chief for Kidder, Peabody & Co., was named a senior managing director in investment banking at Shearson Lehman Hutton Holdings Inc. Madden resigned from Kidder in early February, along with two other senior investment bankers, less than two weeks after General Electric Co. asserted full control over Kidder, of which it owns 80%. General Electric put a young GE executive, Michael Carpenter, in charge of the securities...
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