Retail Industry
Industry: Email Alert RSS FeedGoldsmith in hostile $21B takeover offer for B.A.T. (James Goldsmith, retail conglomerate B.A.T. Industries PLC)
Daily News Record, July, 1989 by Fallon, James
GOLDSMITH IN HOSTILE $21B TAKEOVER OFFER FOR B.A.T.
LONDON (FNS) -- Marshall Field's, Saks Fifth Avenue and Ivey's would go on the selling block if Sir James Goldsmith's hostile 13 billion pound ($21.19 billion) takeover bid for B.A.T. Industries PLC were successful.
Goldsmith said Tuesday he plans to dispose of all of B.A.T.'s non-core tobacco businesses, which include retailing, financial services and paper. Goldsmith is making the all-paper, leveraged offer for the group through the newly-created Hoylake Investments Ltd., a subsidiary of Anglo Group PLC. It is Britain's largest-ever takeover bid.
Hoylake's investors include Goldsmith's General Oriental Investments Ltd.; RIT Capital Holdings Ltd., and subsidiaries and associates of J....
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