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By Mark Ribbing and Mark Ribbing,SUN STAFF | January 29, 2000
In a corporate battle that will determine the fate of Rockville biotechnology firm Life Technologies Inc., International Specialty Products Inc. is waging a hostile takeover of Dexter Corp. Dexter, the oldest company on the New York Stock Exchange, has accumulated a 71 percent interest in Life Technologies, one of the players in Maryland's burgeoning biotech sector. Almost all of the rest of Life Technologies is owned by another chemicals and materials company, International Specialty Products Inc. of Wayne, N.J. Dexter and International Security have different ideas of how Life Technologies should be run. The feud is complicated because International Specialty owns 10 percent of Dexter, based in Windsor Locks, Conn.
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BUSINESS
By Natalie Sherman and Lorraine Mirabella, The Baltimore Sun | February 14, 2014
Jos. A. Bank Clothiers said Friday it plans to buy outdoor retailer Eddie Bauer, a move the company said sets a path for long-term growth and analysts said increases Bank's options as it faces a hostile takeover bid by rival Men's Wearhouse. The $825 million cash-and-stock deal would give Hampstead-based Bank a once-proud brand that, under a series of owners and through two bankruptcies, has struggled to evolve from an outfitter to a lifestyle apparel retailer. While Bank seems intent on buying Bauer and remaining independent, some analysts wondered if the proposed deal isn't more about leveraging a larger offer out of Men's Wearhouse.
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BUSINESS
By Kelly Gilbert and Kelly Gilbert,Evening Sun Staff | December 10, 1990
A federal judge in Baltimore today dismissed a suit by American Telephone and Telegraph Co. that aimed to bar NCR Corp. from pursuing litigation to prevent a hostile takeover by the communications company.Judge Frederic N. Smalkin ruled that his court does not have jurisdiction in the suit, filed last Wednesday in U.S. District Court in Baltimore, because AT&T has not actually sought or obtained proxies from NCR stockholders.Proxy acquisition by AT&T could force the court to consider legal issues involving the Maryland Business Combination Act and the state's Control Shares Act, two anti-takeover measures enacted by the General Assembly in 1989.
NEWS
By Mary Carole McCauley, The Baltimore Sun | February 1, 2014
Men's clothing retailer Jos. A. Bank Clothiers Inc. is in talks to acquire the Eddie Bauer chain of stores specializing in outerwear and casual attire, the Wall Street Journal reported Saturday. Such a deal would disrupt the long saga of dueling takeover bids between Bank and rival discount suit clothier Men's Wearhouse Inc. The Wall Street Journal, in reporting the talks, cited people familiar with the matter. Thomas Davies, a spokesman for Hampstead-based Bank declined to comment Saturday.
BUSINESS
By BLOOMBERG NEWS | December 29, 2004
DALLAS - Blockbuster Inc. threatened yesterday to make a $1 billion hostile takeover offer for Hollywood Entertainment Corp. in mid-January after failing to reach an agreement with an earlier bid. Blockbuster demanded access to Hollywood Entertainment's financial reports. Without the documents, the nation's largest movie-rental chain said, it would offer stockholders of its top rival $11.50 a share in cash, or about $700 million, plus the assumption of $300 million in Hollywood debt. Blockbuster said the tender offer would be subject to Hollywood Entertainment's terminating its merger agreement with Leonard Green & Partners LP of Los Angeles.
NEWS
By Suzanne Wooton and Suzanne Wooton,SUN STAFF | October 24, 1996
Norfolk Southern Corp. dramatically upped the bidding for Conrail Inc., topping CSX's recent offer by nearly $1 billion yesterday and threatening to launch a hostile takeover if necessary.While the action was not unexpected, the $9.1 billion all-cash offer was surprisingly hefty, one that pits Conrail stockholders against company executives who insist that a marriage between CSX and Conrail is more desirable.Long considered the most aggressive and well-heeled railroad on the East Coast, Norfolk Southern vowed last week to fight the CSX-Conrail merger that would give those companies control of nearly three-fourths of the freight east of the Mississippi River.
BUSINESS
By BLOOMBERG NEWS | November 14, 2000
FEDERAL WAY, Wash. - Weyerhaeuser Co. signaled yesterday that it may pursue a hostile takeover of Willamette Industries Inc. after the rival papermaker didn't respond to a $7 billion cash-and-debt acquisition offer. The third-largest forest-products company offered $48 for each share of Willamette, or 38 percent more than Friday's closing price. Weyerhaeuser would assume $1.7 billion in debt. Willamette is reviewing the proposal, said Cathy Dunn, a spokeswoman for the company. Weyerhaeuser said it first proposed combining the companies more than two years ago, and made an offer last week, according to a letter sent by its president and chief executive officer, Steven R. Rogel, to Duane C. McDougall, his counterpart at Willamette.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | February 18, 1998
Directors of Glen Burnie Bancorp yesterday moved to block a hostile takeover by First Mariner Bancorp by voting to issue stockholders rights to purchase additional shares.The defensive step, known as a "poison pill," is designed to make it too costly for First Mariner to take control of the $225 million-asset Bank of Glen Burnie.The move comes after First Mariner's chairman, Edwin F. Hale Sr., the Baltimore shipping executive, sent a letter to Glen Burnie Bancorp's board offering to buy out the bank for about $26 million in cash, or $23.80 a share.
NEWS
November 17, 2003
Laurence A. Tisch, 80, a self-made billionaire investor who took control of CBS in the face of a hostile takeover but whose tenure was marked by accusations that he had tarnished the network's reputation, died of cancer Saturday in New York. Mr. Tisch was chief executive officer and chairman of the board of CBS Inc. from 1986 to 1995, a period when its nightly newscast fell to third place and it lost NFL football to the upstart Fox Network.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | January 25, 1996
Martek Biosciences Corp., the Columbia company developing nutritional products from microalgae, adopted a "poison pill" plan yesterday to protect the company from hostile takeovers.Steve Dubin, Martek's chief financial officer, said the company is not a target of a hostile takeover and does not know of any potential takeover bid. The plan was adopted by Martek's board of directors, he said, so shareholders "would understand the long-term value of the company" and to protect them should a takeover attempt ever occur.
BUSINESS
By Lorraine Mirabella and Natalie Sherman, The Baltimore Sun | December 23, 2013
Just as its offer to buy its rival was rejected, Jos A. Bank Clothiers Inc. spurned a $1.2 billion turn-table acquisition bid by Men's Wearhouse Inc. on Monday, but most observers still believe a merger is inevitable. Responding to Men's Wearhouse's Nov. 26 bid, Bank, which is headquartered in Hampstead, announced that its board determined the proposed $55 per share price "significantly" undervalued the chain and was not in the best interest of shareholders. The retailer, which runs 629 stores in 44 states, also repeated earlier statements that it continues to eye potential acquisitions of its own. "Our board undertook a thorough review and determined that the per share consideration in the proposal made to us by Men's Wearhouse was simply not in the best interest of our shareholders," Robert N. Wildrick, Bank's chairman, said in a statement.
BUSINESS
By Charles Jaffe and Charles Jaffe,MarketWatch | July 24, 2007
It's time to take a look back at a few recent columns that raised questions from investors. Here are some of those questions, answered. A few months back, you wrote about Fidelity merging its Nordic Fund into its Europe Fund, as if the deal was done. It wasn't. Investors voted against it. I was OK with the merger, but now I am worried about what happens if Fidelity has to keep the fund open but doesn't really want to run it any more. Should I be worried? Jonathan, Weymouth, Mass. Fidelity's plan involved less specialization and greater economies of scale.
BUSINESS
By New York Times News Service | December 20, 2006
ATLANTA --Poor pay, long hours, and the contempt of many employees and customers - that pretty much sums up the job of running an airline these days. The only thing worse, for the management masochists who seek these positions, is living in daily fear that the job might be taken away. That's the life of Edward H. Bastian and James M. Whitehurst, the two executives running Delta Air Lines on a day-to-day basis. They both want to become Delta's next chief executive, if the airline is not gobbled up in a hostile takeover.
NEWS
By JOANN KLIMKIEWICZ and JOANN KLIMKIEWICZ,HARTFORD COURANT | July 30, 2006
The video clip opens with the school's mascot logo bouncing across the screen before a saccharine female voice states plainly, "The University of Kentucky Wildcats." Out rolls a montage of cheering fans, a waving mascot and an ecstatic basketball player scoring - all interspersed with shots of smiling children decked in Kentucky blue and cuddling Wildcat stuffed animals. "Basketball," the voice-over coos. This is Team Baby Entertainment, a line of sports-themed DVDs meant to start collegiate fans young - that is, before they can even wrap their tiny mouths around the words "go team!"
BUSINESS
By BLOOMBERG NEWS | December 29, 2004
DALLAS - Blockbuster Inc. threatened yesterday to make a $1 billion hostile takeover offer for Hollywood Entertainment Corp. in mid-January after failing to reach an agreement with an earlier bid. Blockbuster demanded access to Hollywood Entertainment's financial reports. Without the documents, the nation's largest movie-rental chain said, it would offer stockholders of its top rival $11.50 a share in cash, or about $700 million, plus the assumption of $300 million in Hollywood debt. Blockbuster said the tender offer would be subject to Hollywood Entertainment's terminating its merger agreement with Leonard Green & Partners LP of Los Angeles.
NEWS
November 17, 2003
Laurence A. Tisch, 80, a self-made billionaire investor who took control of CBS in the face of a hostile takeover but whose tenure was marked by accusations that he had tarnished the network's reputation, died of cancer Saturday in New York. Mr. Tisch was chief executive officer and chairman of the board of CBS Inc. from 1986 to 1995, a period when its nightly newscast fell to third place and it lost NFL football to the upstart Fox Network.
BUSINESS
By Kelly Gilbert and Kelly Gilbert,Evening Sun Staff | December 11, 1990
U.S. District Judge Frederic N. Smalkin in Baltimore has dismissed a suit by American Telephone and Telegraph Co. that aimed to bar NCR Corp. from pursuing litigation to prevent a hostile takeover by the communications company.Smalkin ruled yesterday that his court does not have jurisdiction in the suit, filed here last Wednesday, because AT&T has not actually sought or obtained enough proxies from NCR stockholders to start a proxy fight over the proposed takeover.Proxy acquisition by AT&T could result in another request for the court to consider legal issues involving the Maryland Business Combination Act and the state's Control Shares Act, two 1989 antitakeover laws.
BUSINESS
By Graeme Browning | December 11, 1990
American Telephone and Telegraph Co. lost the first legal skirmish yesterday in its hostile takeover bid for NCR Corp., but experts on Maryland's anti-takeover laws say more battles may be forming over the issue in the courts.Judge Frederic N. Smalkin dismissed yesterday a lawsuit brought by AT&T against NCR last week in U.S. District Court here. The suit challenged NCR's attempt to use Maryland takeover laws to prevent the acquisition, but Judge Smalkin said his court lacked jurisdiction.
BUSINESS
By Alex Pham and Alex Pham,SPECIAL TO THE SUN | July 3, 2003
PeopleSoft Inc. executives yesterday hailed preliminary quarterly profits, which beat Wall Street's expectations, as a sign that the company is flourishing despite uncertainty created by Oracle Corp.'s $6.3 billion hostile takeover bid. Analysts said PeopleSoft's better-than-expected second- quarter results might also force Oracle to either raise its tender offer from the current $19.50 a share or abandon the bid. "If Oracle is serious, they should come back to the table with a higher bid," said David Hilal, analyst with investment firm Friedman Billings & Ramsey Co. "They need to get it to $21 or $22 a share to get interest from PeopleSoft shareholders at this point."
BUSINESS
By BLOOMBERG NEWS | April 27, 2002
CLEVELAND - TRW Inc., fighting a $12.2 billion hostile bid from larger defense contractor Northrop Grumman Corp., said yesterday that it has signed confidentiality agreements with "several" unnamed parties interested in buying the company. The agreements give potential suitors access to detailed company information. TRW, in a statement, again urged shareholders to vote against a proposal that would allow Northrop to start buying TRW shares. Shareholders are scheduled to act on the Northrop plan at a meeting scheduled for Friday.
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