March 22, 1989 |
Los Angeles investor Marvin Davis and Prudential Insurance Co. of America said Tuesday they have agreed to acquire Spectradyne, the nation's largest supplier of cable television systems to hotels, from investment groups led by Texas billionaire Robert M. Bass. The companies valued the deal at $635 million, but only $60 million of that amount is for the common stock of the company. The remainder involves Davis and Prudential assuming Spectradyne's debt and dividend payments on preferred stock.
May 16, 1987 |
Investor Marvin Davis said Friday he has dropped his offer to buy Texas-based Spectradyne Inc., the nation's largest supplier of cable television and pay-per-view movies for hotels. In a short statement Friday, Spectradyne, which is based in Richardson, Tex., said it had been evaluating acquisition proposals from two unidentified parties and is continuing talks with one of them. Speculation on Wall Street centered on Washington-based Communications Satellite Corp. as a possible buyer.
May 8, 1987
The Denver businessman offered $321.9 million to acquire the remaining shares of Spectradyne Inc., the nation's largest supplier of pay-per-view movie systems to hotels. Davis made his $37-per-share offer for the rest of the company's outstanding common shares after the market closed. Earlier this week, Davis disclosed in Securities and Exchange Commission filings that he had acquired 7.3% of Spectradyne, based in Richardson, Tex. Spectradyne's stock closed at $40.