Merrill targets Midland workers with $66-million
Article Abstract:
Merrill Lynch & Co. Inc., a New York-based brokerage firm, will offer a $66-million retainer package as part of a merger proposal with Toronto, Ontario-based financial services firm Midland Walwyn Inc. The retainer package includes a total of C$60 million in stock-based incentives and C$6 million in cash particularly for employees staying with the firm or its affiliates comprising around 140 senior officers and 1,300 other employees. According to Merrill Lynch's preliminary estimate, the elimination of fewer than 100 jobs will be effected as a result of the takeover.
Comment:
Offers a $66-mil retainer package as part of a merger proposal with Toronto, Ontario-based Midland Walwyn Inc
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Culinar selling Drake Bakeries
Article Abstract:
Culinar Inc. of Montreal, Quebec, has agreed to sell Drake Bakeries of Wayne, NJ, to Interstate Bakeries Corp. of Kansas City, MO. Drake Bakeries makes snack cakes, such as Devil Dogs, Ring Dings, Yodels and Yankee Doodle, which generate annual sales of US$115 million in northeastern United States. Drake now holds about 38% of the snack cake category in the northeastern US market. The company's sales have also been boosted by national exposure on US network television programs, such as Seinfield sitcom and Rosie O'Donnell's talk show.
Comment:
Has agreed to sell Drake Bakeries of Wayne, NJ, to Interstate Bakeries of Kansas City, MO
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Onex reaps bonanza from Sky Chefs
Article Abstract:
Onex Corp, a Toronto, Ontario-based investment company, has agreed to sell part of its stake in airline caterer Sky Chefs Inc to Deutsche Lufthansa AG for C$405 million. The deal is the biggest gain Onex has earned on any of its investments, said Onex vice-president Anthony Munk. Onex bought its current stake in Sky Chefs for just C$18 million, a stake that is now worth about $1.3 billion based on the deal with Lufthansa. The transaction leaves Onex and Lufthansa a 47% stake each in Sky Chefs.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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