Whether the merger or sale of stock was part of a strategy to prevent an unfriendly takeover
was not a consideration in determining tax deductibility.
34 (1992), at first glance, appeared to involve an unfriendly takeover
that would allow clarification on the applicability of INDOPCO.
After fighting legal and public relations battles for more than two months against an unfriendly takeover
bid by Grand Metropolitan P.L.C., the Pillsbury Company threw in the towel on December 18.
Announcing the three-company agreement at a press conference, Nippon Steel Executive Vice President Nobuyoshi Fujiwara said the accord will mark ''a great step forward'' toward defense against unfriendly takeover
In 1974 he merged Lane with the larger but deeply troubled Peoples Drug Stores, saving the Washington, D.C.-based retailer from an unfriendly takeover
in June as a step to defend itself from an unfriendly takeover
. If a hostile buyer acquires a stake of more than 20 percent in TBS, Nikko Principal could convert all the warrants into TBS shares and become the broadcaster's biggest shareholder with a 21.2 percent interest.
At that point, Eckerd chairman and chief executive officer Stew Turley, concerned that the drug chain he headed was about to fall victim to an unfriendly takeover
, approached Oesterreicher about the possibility of Penney heading off that takeover by buying Eckerd instead.
With the management buyout scheme aimed at discouraging an unfriendly takeover
, World plans to delist its stock possibly in November.
The buyout, if successful, will turn World into a privately owned company as a step to discourage an unfriendly takeover
In the process he saved Washington, D.C.-based Peoples from an unfriendly takeover
Among the accomplishments that Turley remembers most vividly is his battle, in 1985, to save Eckerd from an unfriendly takeover
, a battle that ended with the 1986 leveraged buyout that took the public company private.
In the process, he saved Peoples from an unfriendly takeover
by another chain drug executive.