September 3, 1994 |
A bidding war for Western Union Financial Services Inc. heated up Friday as rival suitors for the world's largest money-transfer business raised the stakes to nearly $1 billion. Buyout specialist Forstmann Little & Co. sweetened its offer to $970 million for Western Union, a financially ailing unit of New Valley Corp. New Valley has been in Chapter 11 bankruptcy protection since March, 1993. First Financial Management Corp.
February 28, 2001
* Kenneth Cole Productions Inc. reported a 32% rise in fourth-quarter earnings to $11.3 million, or 52 cents a share, but the apparel retailer said it expects profit to fall well short of analysts' forecasts for the current year. Revenue increased 17% to $110 million. The company said it expects to earn $1.85 a share in 2001, rather than the $2.17-a-share average estimate of analysts polled by First Call, blaming a difficult retailing environment amid a slowing U.S. economy. * Campbell Soup Co.
February 7, 2004 |
The Justice Department has opened a civil antitrust investigation of Western Union Financial Services, the money-transfer subsidiary of First Data Corp. The government has demanded information about contracts between Western Union, which runs the world's largest consumer money transfer network, and its independent agents, First Data said. Denver-based First Data said Western Union's contract practices "reflect common industry norms." First Data rose 38 cents to $38.88 on the NYSE.
June 16, 1994 |
New Valley Accepts Higher Bid for Western Union: Less than a week after announcing plans to sell its Western Union subsidiary to First Data Corp., New Valley Corp. reneged and agreed to sell the unit to Forstmann Little & Co. for more money. Forstmann Little, a leading New York-based leveraged buyout firm, is buying the world's largest money-wiring service for $650 million in cash and the assumption of its pension liabilities, the companies said. Last Thursday, Paramus, N.J.
September 5, 1993 |
El Rescate, a nonprofit group that provides social and legal assistance to Central Americans, is launching a monthlong campaign this week to re-register Salvadorans who previously signed up for temporary protected status with the Immigration and Naturalization Service.