Takeover threat scares tech firms
Article Abstract:
Technology firm boardrooms are full of fear and loathing as they consider adopting poison pills and other controversial anti-takeover armor to keep real or imagined predators at bay. Around 1,600 US firms have poison pills, which make hostile bids prohibitively expensive by letting targeted firms give more shares to existing shareholders. While most fledgling technology concerns have not introduced poison pills, the situation is fast changing. Several prominent technology companies have embraced measures to deter hostile takeover bids after seeing their stocks dive 80% or more from their highs.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Two former Cendant execs indicted in earnings scandal
Article Abstract:
Two former executives of Cendant Corp were indicted for staging one of the US' biggest financial scandals. Walter Forbes, Cendant's former chairman, and E Kirk Shelton, a former Exec VP, were charged with manipulating the income of CUC International, a Stamford, CT-based direct marketing firm that merged with Parsipanny-based HFS to form Cendant in 1997. Both face up to 10 years in prison and fines of up to $500,000 if convicted. They also face a lawsuit from the SEC for overstating CUC's revenues by $500 million from 1995 to 1997.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Now apppears to be the best of times for antitrust lawyers
Article Abstract:
The year 2000 is turning out to be the best of times for antitrust lawyers due to increasing regulatory activity by trustbusters in Brussels and Washington. A case in point is Microsoft's efforts to fight the US government's decision to split it into two. Another is the blocking of the merger plans between the Canadian National Railway and Burlington Northern Santa Fe; and WorldCom and Sprint. At the same time, the mergers between United Airlines and US Airways and AOL and Time Warner are undergoing severe scrutiny.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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