Triangle Industries
Strategic Concepts & Mechanics
Primary Evidence
"Drexel clients—in addition to Triangle Industries—would make bids for companies, all backed by Milken’s junk bonds. Mesa Petroleum, with a net worth of $ 500 million, would go for Unocal. Lorimar, with a net worth of $ 105 million, would offer $ 1 billion for Multimedia. Sir James Goldsmith would make a bid for Crown Zellerbach Corporation for $ 1.1 billion. Golden Nugget, with a net worth of $ 230 million, would go for Hilton Hotels for about $ 1.8 billion. And Farley Industries, with earnings of $ 6 million, would go for Northwest Industries, for about $ 1.4 billion. Other bids would take longer to germinate—but they would turn out to be the most fruitful of all."
"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"
"Drexel clients—in addition to Triangle Industries—would make bids for companies, all backed by Milken’s junk bonds. Mesa Petroleum, with a net worth of $500 million, would go for Unocal. Lorimar, with a net worth of $105 million, would offer $1 billion for Multimedia. Sir James Goldsmith would make a bid for Crown Zellerbach Corporation for $1.1 billion. Golden Nugget, with a net worth of $230 million, would go for Hilton Hotels for about $1.8 billion. And Farley Industries, with earnings of $6 million, would go for Northwest Industries, for about $1.4 billion. Other bids would take longer to germinate—but they would turn out to be the most fruitful of all."
"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"