Nelson Peltz
Strategic Concepts & Mechanics
Primary Evidence
"T. Boone Pickens, Carl Icahn, Irwin Jacobs, Sir James Goldsmith, Oscar Wyatt, Saul Steinberg, Ivan Boesky, Carl Lindner, the Belzbergs—and lesser lights about to shine, such as Nelson Peltz, Ronald Perelman, William Farley."
"Nelson Peltz’s grand plan was to use Flagstaff as a vehicle for acquisitions by doing stock swaps. “But the stock never really performed, so we couldn’t use it for acquisitions,” said May. “Instead, we did acquisitions for debt. This was, of course, before Milken. So we were limited to bank debt, which was keyed to standard ratios. If we had a twenty-million net worth, we couldn’t borrow a hundred million.” In 1975, Flagstaff bought 51 percent of Coffee-Mat, a maker of vending machines for beverages and snacks, and the following year it acquired the rest of the company."
"T. Boone Pickens, Carl Icahn, Irwin Jacobs, Sir James Goldsmith, Oscar Wyatt, Saul Steinberg, Ivan Boesky, Carl Lindner, the Belzbergs—and lesser lights about to shine, such as Nelson Peltz, Ronald Perelman, William Farley."
"Nelson Peltz’s grand plan was to use Flagstaff as a vehicle for acquisitions by doing stock swaps. “But the stock never really performed, so we couldn’t use it for acquisitions,” said May. “Instead, we did acquisitions for debt. This was, of course, before Milken. So we were limited to bank debt, which was keyed to standard ratios. If we had a twenty-million net worth, we couldn’t borrow a hundred million.” In 1975, Flagstaff bought 51 percent of Coffee-Mat, a maker of vending machines for beverages and snacks, and the following year it acquired the rest of the company."
"NELSON PELTZ went through the four days of the Predators’ Ball, as he would later say, as a “nervous wreck.” Peltz, who had a track record in business that can be described as lackluster, saw National Can as the opportunity of a lifetime. He had run his family’s frozen-food business, expanding it through acquisitions and then selling it in the midseventies; it later went bankrupt. Peltz had struggled for years, been close to broke, finally managed in 1982 to acquire with Peter May a controlling block of Triangle Industries, which he intended to leverage up as his vehicle for acquisitions. Until now, nothing had worked. And he"
"Nelson Peltz"