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By Kristine Henry and Kristine Henry,SUN STAFF | August 20, 1999
Analysts say it's too soon to know just what Bethlehem Steel Corp.'s new major investors have in store for the company, but one thing appears certain: They won't be passive bystanders.Alfred Kingsley and Gary Duberstein -- the principals of Greenway Partners LP, which with its affiliates recently acquired 5.6 percent of Bethlehem -- are students of Carl Icahn, the corporate raider who gained notoriety in the 1980s for his hostile takeover of Trans World Airlines.Duberstein was Icahn's general counsel for eight years.
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BUSINESS
March 9, 2010
ATLANTIC CITY, N.J. - It took more than two years, nearly $12 million in fees to lawyers and others and a billionaire's bargain-basement bid, but the Tropicana Casino and Resort has been salvaged by its sale to Carl Icahn. The $200 million deal completed Monday marks the investor's return to Atlantic City, the nation's second-largest gambling market, and ends one of the most tortured casino sales in U.S. history. Icahn bought the casino out of bankruptcy for 80 percent less than what it was expected to fetch before the recession hit. A previous deal to sell the Tropicana to Baltimore-based Cordish Cos. fell through.
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BUSINESS
March 9, 2010
ATLANTIC CITY, N.J. - It took more than two years, nearly $12 million in fees to lawyers and others and a billionaire's bargain-basement bid, but the Tropicana Casino and Resort has been salvaged by its sale to Carl Icahn. The $200 million deal completed Monday marks the investor's return to Atlantic City, the nation's second-largest gambling market, and ends one of the most tortured casino sales in U.S. history. Icahn bought the casino out of bankruptcy for 80 percent less than what it was expected to fetch before the recession hit. A previous deal to sell the Tropicana to Baltimore-based Cordish Cos. fell through.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | August 20, 1999
Analysts say it's too soon to know just what Bethlehem Steel Corp.'s new major investors have in store for the company, but one thing appears certain: They won't be passive bystanders.Alfred Kingsley and Gary Duberstein -- the principals of Greenway Partners LP, which with its affiliates recently acquired 5.6 percent of Bethlehem -- are students of Carl Icahn, the corporate raider who gained notoriety in the 1980s for his hostile takeover of Trans World Airlines.Duberstein was Icahn's general counsel for eight years.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 15, 2013
With a shareholder vote just days away, T. Rowe Price, one of Dell Inc.'s major investors, reaffirmed its opposition to a $24.4 billion buyout offer for the personal computer manufacturer. "We continue to believe the proposed buyout does not reflect the value of Dell and we do not intend to support the offer as put forward," Brian Rogers, Price chairman and chief investment officer, said in a statement Monday. The Baltimore-based money manager owned 71.8 million shares, or 4.03 percent of Dell, at the end of March, Morningstar reports.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | May 15, 1997
NEW YORK -- Bondholders fighting Marvel Entertainment Group's plan to merge with Toy Biz Inc. and emerge from bankruptcy won a round in court yesterday when a federal judge ruled that the bondholders could take control of the 80 percent stake in Marvel stock that secured the bonds.The ruling will not take effect until May 23, however, giving Marvel time to appeal.The fight over Marvel, the comic book and sports card company, pits Marvel's board and bank lenders against the bondholders, led by Carl Icahn.
BUSINESS
By BLOOMBERG NEWS | April 11, 2001
WASHINGTON - Carl Icahn, who is seeking board control at Visx Inc., said he will try to auction off the biggest maker of lasers for vision-correction surgery for at least $32 a share, if his slate of directors is elected. Icahn, a financier with a 9.9 percent stake in Visx, is pushing to oust the Santa Clara, Calif.-based company's board at its annual meeting May 4. He has said the bigger goal is to sell Visx to a larger company. Visx has urged its shareholders to re-elect the current directors.
BUSINESS
By JULIUS WESTHEIMER | June 2, 1999
HERE ARE SOME of the smartest ways to increase value from your investments: "Although cyclical `value' stocks are unpopular, many are good values these days," says contrarian David Dreman. "Investing in companies with low price-earnings ratios is the smartest way to go.""Sure, tax-free municipal bonds are confusing, but get to know them. They provide safety -- especially in a `nosebleed' market like this one, and you'll never share your profits with Uncle Sam." (Working Woman)"Find companies that raise payouts frequently.
BUSINESS
By Bloomberg Business News | May 15, 1993
MOUNT KISCO, N.Y. -- Financier Carl Icahn made a $1.18 billion cash buyout offer yesterday for E-II Holdings Inc., the maker of Samsonite luggage, McGregor menswear and Culligan water treatment equipment.Mr. Icahn, the former owner of Trans World Airlines Inc., said he has the financing and is willing to put up a $50 million nonrefundable deposit.Mr. Icahn previously has been snubbed in his attempt to buy the company by financing a competing reorganization plan. E-II has been operating under Chapter 11 protection since July 1992.
BUSINESS
By Kristine Henry and By Kristine Henry,SUN STAFF | September 23, 2001
Alfonso Fanjul Jr. was barely out of college in the fall of 1959 when he and several attorneys sat nervously at a conference table in his company's headquarters waiting for Fidel Castro's men to arrive. The soldiers, who had overthrown dictator Fulgencio Batista, were coming to announce the fate of the sugar business that Fanjul's great-grandfather had started in Cuba more than a century earlier. Even though private property was being confiscated all around him and his family had fled the country, Fanjul believed he could save the business.
BUSINESS
January 5, 1993
Icahn expected to quit TWAAfter making the final installment of a $200 million loan to Trans World Airlines, Carl Icahn is expected to resign as early as today from TWA, the only big-name company the takeover strategist ever bought.Mr. Icahn's loan, his promise to help fund TWA's pension plans and his resignation are part of an agreement that will allow the airline to complete its sale to creditors and employees.4 Japanese brokerages probedFederal stock market regulators are reportedly preparing legal action against the U.S. subsidiaries of Japan's four largest brokerage houses, according to a published report yesterday.
BUSINESS
December 31, 1992
TWA cleared to leave bankruptcyA judge approved an agreement between Trans World Airlines Chairman Carl Icahn and one of TWA's biggest creditors, clearing the way for the airline to emerge from bankruptcy.The settlement yesterday with the Pension Benefit Guaranty Corp., the federal agency that backs workers' pensions, ends a dispute over under-funded pension plans that had been the last major obstacle to TWA's reorganization. As part of the reorganization, ownership of TWA will shift from Mr. Icahn to the airline's creditors and unions.
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