November 8, 1985 |
A judge on Thursday extended indefinitely the temporary restraining order that has stalled the payment of about $106 million in compensation to 150 executives of the Signal Cos.
January 24, 1987 |
Fighting back tears, the only lawyer implicated so far in the Dennis B. Levine insider trading scandal was rebuked Friday by U.S. District Judge Robert Sweet as "a symbol of the sickness of our society" and then sentenced to a year and a day in prison. The lawyer, 32-year-old Ilan K. Reich, was also ordered to serve five years probation for helping Levine, the scheme's ringleader, make $742,819 in illegal stock profits.
January 30, 1997 |
With both sides preparing for a takeover battle, ITT Corp. on Wednesday said its board of directors will review Hilton Hotels Corp.'s unsolicited takeover bid next week, while Hilton tried to limit ITT's legal flexibility. ITT, which owns the Sheraton hotel chain and Caesars Palace in Las Vegas, will have a regularly scheduled board meeting Tuesday, where it will "discuss all issues," a company executive said. ITT has said it would respond within 10 days to Hilton's $10.
October 4, 1986 |
Ilan K. Reich, the first lawyer to be drawn into the Dennis B. Levine insider trading scandal, was indicted Friday by a federal grand jury here on charges that he illegally tipped Levine to corporate takeovers before they were public knowledge. Reich, who resigned his partnership in the New York law firm of Wachtell, Lipton, Rosen & Katz in July after learning that he was under government investigation, faces criminal fraud charges.
November 14, 1990 |
Top executives of MCA Inc. and Japan's Matsushita Electric Industrial Co. will meet in face-to-face bargaining here next weekend as acquisition talks between the companies head into what appears to be the home stretch. Both Matsushita President Akio Tanii and MCA Chairman Lew R. Wasserman are expected to attend the sessions, individuals familiar with the talks said.
March 1, 2000 |
Mirage Resorts Inc. on Tuesday rejected as too low a $3.4-billion, unsolicited takeover bid from rival gaming giant MGM Grand Inc. But Mirage left the door open to negotiate a higher offer with MGM Grand, which is controlled by billionaire Kirk Kerkorian. To further ensure that any merger is to Mirage's liking, Mirage adopted a so-called poison pill plan that would make any hostile attack on Mirage prohibitively expensive for the unwanted suitor.
February 14, 2004 |
The man who perfected the art of battling hostile takeovers faces one of his biggest challenges in helping Walt Disney Co. fend off Comcast Corp. In hiring Martin Lipton, 72, Disney not only has recruited the country's preeminent mergers-and-acquisitions defense lawyer, but it also has sent the message that it will fight hard against Comcast's unsolicited bid. "It's a clear signal to Comcast that, 'We're going for the big guy and we're going to fight,' " said John F.
June 5, 2007 |
Rupert Murdoch got his long-awaited audience Monday with representatives of the family that controls Dow Jones & Co., owner of the Wall Street Journal and object of an audacious, $5-billion takeover bid by Murdoch's News Corp. In an afternoon meeting that major Dow Jones shareholder Jim Ottaway Jr. called the "opening tea party," Murdoch, his son James and two other News Corp.
March 19, 2009 |
It looks as if Mark Rachesky, the biggest shareholder in Lions Gate Entertainment Corp., wants to be in the picture. Just as the company is girding for a potential proxy battle with corporate raider Carl Icahn, Rachesky has changed his status to "active" from "passive" investor and says he may seek a board seat.
April 6, 2011 |
Rupert Murdoch's News Corp. completed its $674-million purchase of Shine Group, the London television production company owned by the mogul's daughter Elisabeth Murdoch. The transaction accomplishes Murdoch's goal of bringing back his daughter to the corporate fold a week after her brother James Murdoch was elevated to deputy chief operating officer of News Corp. Rupert Murdoch has long refused to anoint an outright successor, but those plans appear to be accelerating after Murdoch turned 80 last month.