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This case, an appeal from a decision of the Delaware Chancery Court, involved a proposed merger between Viacom and Paramount Communications; as part of the merger agreement, Paramount agreed to an array of defensive measures, including a no-shop provision, $100 million termination fee and a lock-up option on approximately 20% of Paramount’s common stock.
On July 12, 1993, QVC offered to acquire Home Shopping in a stock swap valued at about $1.1 billion, but talks faltered when QVC pursued a bid for Paramount in fall 1993. [19] Liberty Media Corp. held a controlling interest in the St. Petersburg, Florida-based Home Shopping Network along with their share of QVC.
Joseph Segel. Joseph Myron Segel (January 9, 1931 – December 21, 2019) was an American entrepreneur. He was the founder of over 20 American companies, most notably QVC, an American television network, and the Franklin Mint, a producer of mail-order collectibles. Segel was named to the Direct Marketing Association 's Hall of Fame in 1993. [1]
In May 2023, Qurate Retail Group's stock was facing a delisting from the Nasdaq if share prices are unable to rebound, as their stock has declined over 80% over the past year. [27] To avoid delisting, Qurate Retail announced the sale of Zulily to Regent, L.P. [ 28 ] In October 2023, CreditRiskMonitor reported that Qurate Retail Group was ...
Liberty Media's Discovery Channel and QVC continued to do well, but the newer projects had problems and the company's stock price dropped by half. If AT&T agreed to spin off Liberty Media, new deals such as a possible News Corp. purchase of DirecTV would be easier because AT&T would no longer require federal approval to complete such deals. [ 27 ]
Then, Paramount made an offer to all the shareholders of $200 per share (up from an initial $175). Time shares had been trading at $120. Time shares had been trading at $120. Time had a range of defenses, including a staggered board, a 50-day notice period for any shareholder motion, and a poison pill plan with a 15% trigger.
Less than a week following Pantry Pride's $56.25 offer, it struck a deal with Forstmann pursuant to which Forstmann would pay $57.25 per share conditioned on its receipt of a lock-up option to purchase one of Revlon's important business divisions at a discounted price should another acquirer secure 40% or more of Revlon's outstanding stock, a ...
The $33 billion deal, based on a $54 per share price for Bell Atlantic stock, would have been the largest in American telecommunications history, the resulting company serving one in four cable TV customers. But it fell apart for many reasons, including declining stock prices for both companies.