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BUSINESS
October 15, 1992 | From Times Staff and Wire Reports
Xerox to Sell Money Unit: Xerox Financial Services Inc. said it has agreed to sell its money management business to a company formed by a private investment firm and the unit's management for about $360 million. The deal to sell Xerox's Van Kampen Merritt Cos. Inc. unit to a company formed by Clayton Dubilier & Rice Inc. was reached late Tuesday night, said Barbara McNear, a spokeswoman for Xerox.
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BUSINESS
October 15, 1992 | From Times Staff and Wire Reports
Xerox to Sell Money Unit: Xerox Financial Services Inc. said it has agreed to sell its money management business to a company formed by a private investment firm and the unit's management for about $360 million. The deal to sell Xerox's Van Kampen Merritt Cos. Inc. unit to a company formed by Clayton Dubilier & Rice Inc. was reached late Tuesday night, said Barbara McNear, a spokeswoman for Xerox.
BUSINESS
September 12, 1989 | PATRICE APODACA, Times Staff Writer
Syncor International Corp.'s rejection of a $77-million buyout bid last week apparently closed the door to a possible change of control at the Chatsworth firm in the near future. In rejecting the $7.57-a-share offer from the Lisle, Ill.-based investment banking firm Van Kampen Merritt, Syncor said it was not for sale and denied Van Kampen Merritt's claim that it had discussed the possibility of a sale with Syncor.
BUSINESS
September 12, 1989 | PATRICE APODACA, Times Staff Writer
Syncor International Corp.'s rejection of a $77-million buyout bid last week apparently closed the door to a possible change of control at the Chatsworth firm in the near future. In rejecting the $7.57-a-share offer from the Lisle, Ill.-based investment banking firm Van Kampen Merritt, Syncor said it was not for sale and denied Van Kampen Merritt's claim that it had discussed the possibility of a sale with Syncor.
BUSINESS
September 5, 1989
A Lisle, Ill., investment bank Friday submitted an offer worth about $77 million to buy Syncor International Corp., the Chatsworth distributor of radiopharmaceuticals. Van Kampen Merritt, the investment bank, said it was making the $7.57-per-share bid on behalf of an unnamed client. Dee Carrington, vice president for home care at Syncor, said the company's board would evaluate the offer. The offer expires Thursday.
BUSINESS
June 11, 1988 | Bill Sing
Unit investment trusts, a convenient way for small investors to buy diversified portfolios of municipal bonds or other fixed-income securities, are enjoying a sales boomlet. Thanks to higher yields on these mutual fund cousins--and an investor flight to quality following the October stock market debacle--sales of unit trusts rose to $4.3 billion in the first four months of this year, up 13% from the same period a year ago.
BUSINESS
November 7, 1989
Syncor International Corp., a Chatsworth operator of high-tech pharmacy service centers, said it adopted a shareholder rights plan--a common takeover defense often referred to as a "poison pill." The company said the plan is designed to ensure that its stockholders get a fair price for their shares should the company be the target of a hostile takeover attempt. But it said the move was not in response to any specific takeover threat.
BUSINESS
January 31, 1986
Xerox posted a 1985 fourth-quarter profit of $156 million, reversing a net loss of $12 million for the same period of 1984. The worldwide office machine and information systems conglomerate said Thursday that revenue for the three months totaled $2.52 billion, a 5% increase from the year-earlier quarter's $2.4 billion. For the year, Xerox said its net earnings rose to $475 million from $290 million in 1984.
BUSINESS
April 11, 1989 | From Associated Press
Bond prices were flat Monday, reflecting reluctance of traders to speculate on the direction of interest rates before the release of government economic reports at the end of the week. The Treasury's key 30-year bond finished unchanged, while its yield remained at 9.11%. The Commerce Department on Thursday will reveal figures on March retail sales. Government reports are scheduled for Friday on the merchandise trade deficit for February, wholesale prices for March, industrial production and factory use for March, and business inventories for February.
BUSINESS
July 6, 1992 | From Associated Press
Municipal bondholders may well be the most resilient investors around, returning to the market even after they were bounced out. Many bond buyers were left scrambling for new investments last week as state and local governments redeemed as much as $8 billion in municipal bonds before their maturities. The record early redemptions of bond principal, known as "calls," were a shock to investors accustomed to earning 10% or more on tax-free bonds issued a decade ago.
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