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Stonington Partners Inc

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BUSINESS
July 17, 1997 | (Bloomberg News)
Merisel Inc. said holders of its 12.5% senior notes rejected a recapitalization plan for the troubled computer and software distributor proposed by Stonington Partners Inc. Under the plan, New York-based Stonington would pay $152 million for a 70% stake in the El Segundo-based company. The proposal remains open until Sept. 4.
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BUSINESS
July 16, 1997 | (Bloomberg News)
Merisel Inc. said it has received an offer from Stonington Partners Inc. to invest $152 million for a 70% stake as part of a broader restructuring plan for the computer and software distributor. Merisel said the offer is superior to its own reorganization plan, announced three months ago, because current shareholders would end up with 30% of the company instead of 20%.
BUSINESS
July 17, 1996 | From Times Wire Services
Philip Morris Cos. said Tuesday that its earnings climbed 15% in the second quarter, led by strong profit gains from its industry-leading tobacco business. The maker of Marlboro cigarettes said profits rose from its food business, which has brands like Kraft, Oscar Mayer and Maxwell House. But income slipped at its Miller Brewing business. Overall, Philip Morris earned $1.62 billion, or $1.97 a share, compared with $1.41 billion, or $1.67 a share, a year ago, matching Wall Street estimates.
BUSINESS
May 1, 1996 | GREG MILLER, TIMES STAFF WRITER
As part of an ongoing effort to shed its stodgier business units, Rockwell International Corp. said Tuesday it has signed an agreement to sell its Illinois-based Graphic Systems business, which makes newspaper and commercial printing presses. Under the agreement, Graphic Systems will be sold for about $600 million in cash to a new corporation formed by the New York investment firm Stonington Partners, Rockwell officials said.
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