Revlon raises bid for Gillette to 5.4 billion cash and stock
Revion Group Inc advances a fifth bid for Gillette in nine months, offering about 5.4 billion in cash and securities. Gillette declines comment and must grant management consent for a formal offer under a prior standstill. Perelman pressures Gillette to meet by September 15 while keeping options open, including a possible shareholder vote.
MENTIONED IN THIS ARTICLE
New York
Revion Group Inc
Gillette Co
Revion
Gillette
Colman M. Mockler Jr
Revlon
New York Stock Exchange
Gillette’s
Ronald O. Perelman
Britain
Pilkington PLC
Dow closes above 2700 as bull market continues
The Dow Jones average rose 15.14 to 2700.57 marking its first close above 2700 with broad gains offset by mixed results across the market. Gillette led active trading while mergers and acquisitions stayed brisk as Revlon proposed a 47 a share cash and stock offer.
MENTIONED IN THIS ARTICLE
Dow
Gillette
Wall Street
Iowa
New York Stock Exchange
Dow Jones
Revlon
Quaker Oats
Weyerhaeuser
Procter & Gamble
W.R. Grace
Raytheon
General Mills
Life Investors
ADT Inc
Hawley Group
Britain
Philips
NV Philips
Netherlands
Merck
Philip Morris
McDonald’s
International Business Machines
NWA
Detroit
Northwest Airlines
NYSE
Exchange
Standard & Poor’s
S&p
Honda plans North America car output rise to 1 million by 1990s
Honda Motor Co aims to boost annual North American car production by 100000 units over three years to reach 1 million cars yearly by the 1990s. A spokesman said no final decision until year end as expansion options are discussed. reports say a second U.S. plant may begin.
MENTIONED IN THIS ARTICLE
Tokyo
Honda Motor Co
Automotive News
Honda
U.S
Nasdaq computer outage delays opening trades
The NASDAQ system fell offline for about 14 minutes at 9:40 a.m. delaying market makers from executing trades after the market opened. Anthony Morea said the cause was unknown and that a backup in Rockville, Maryland may have been used. The outage, a rare event, lasted about 9.5 minutes with a further five minute delay for a fair start.
MENTIONED IN THIS ARTICLE
New York
National Association of Securities Dealers
Nasdaq
New York Stock Exchange
Anthony Morea
Trumbull
Treasury bill yields rise on short and medium terms
The Treasury Department announced that 3 month bills will yield 6.16 percent and 6 month bills 6.42 percent for auctions on 8 17 87. Separately the Federal Reserve reported last week the average yield on one year Treasuries at 6.93 percent, down from 6.96 percent prior week.
MENTIONED IN THIS ARTICLE
Treasury Department
Federal Reserve
Treasury
Factory production at 18 month high in July
U S factories, mines and utilities ran at 80.5 percent of capacity in July, the strongest since January 1986, with non-durable goods leading gains as the dollar slide boosts exports. Analysts say manufacturing is rebounding thanks to lower dollar costs and rising overseas demand.
MENTIONED IN THIS ARTICLE
Norma
Defense Contract Administration Service Management Area
Dcasma
Cedar Rapids
North Central Small Business Council
Washington
America
U.S
John Hagens
Wharton Econometrics
Bala Cynwyd
Hagens
Donald Ratajczak
Georgia State University
Lucky to form new entity to run Eagle stores chain
Lucky Stores Inc announces a tentative agreement with Odyssey Partners to create a new company owning and operating 105 Eagle food stores and related facilities in Illinois Indiana and Iowa. Odyssey would be major owner with Lucky retaining minority stake as unions are to be negotiated before finalization. The move follows Lucky’s 1980s restructuring including Gemco Kragen and Checker sales to fend off a hostile bid.
MENTIONED IN THIS ARTICLE
Dublin
Calif
Lucky Stores Inc
New York
Lucky
Eagle
Illinois
Indiana
Iowa
Judith Decker
John M. Lillie
Odyssey Partners
Odyssey
Lucky Supermarket
Asher B. Edelman
Gemco Discount
Kragen
Checker Auto Parts
Volkswagen Fox prices rise for 1988 models
Volkswagen United States raises base Fox prices by 3.7 percent after tax, averaging 242 dollars per car. Options costs climb about 5.4 percent, or 44 dollars. The two door base goes to 5990, GL four door to 6890, and GL wagon to 6990 from prior figures.
MENTIONED IN THIS ARTICLE
Detroit
Volkswagen United States Inc
Also Mentioned on This Page
Oral-B Laboratories
Iowa City
Perelman
CNW
Chicago
CNW Corp
Chicago and North Western Railroad
West Texas Intermediate
New York Mercantile Exchange
General Motors Corp
Metalworking News
Mark Cocroft
Steve Labrasciano
Quuart-James
Small Business Council
C.R
Norma Kirkley
Cedar Rapids Area
Mody Bills Bills
Tom Megan
Lucky Selling
Eagle Store Chain
Volkswagen
Fox
Midland Financial Savings and Loan
Midland Financial Group
7Th Avenue
Marion
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