Sunbeam unveils turnaround strategy

Article Abstract:

Sunbeam Corp., which has been plagued in that past year by plummeting stock prices, has announced a new strategy to reverse the company's dismal performance record and eliminate a huge inventory stockpile. The company, which will decentralized its operations, has discarded the plans of former chairman, Albert J. Dunlap. The company's management will be divided into three major sectors, outdoor leisure, international, and household products. The company's new chairman, Jerry W. Levin, has also made several additions to its management team.

Comment:

Has announced a new strategy to reverse the company's dismal performance record

Strategy & planning

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Perelman strengthens Sunbeam grip in accord

Article Abstract:

Sunbeam Corp. announced that Ronald O. Perelman's MacAndrews & Forbes Holdings Inc. had reached an agreement to forego any claims it might have had against the firm, as a result of MacAndrews selling of an 82% share in Coleman Co. to Sunbeam. MacAndrews in exchange, will be awarded five-year warrants that will permit it to acquire an additional 23 million shares in Sunbeam for $7 each.

Comment:

MacAndrews & Forbes Holdings Inc. agrees to forego any claims it might have had against Sunbeam

Diversified Companies, Asset sales & divestitures, Acquisitions & mergers, MacAndrews and Forbes Holdings Inc.

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