Word: tenderness
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Dates: during 1970-1979
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Last week Flom showed some of the qualities that have made him the undisputed "King of the Takeovers." In a bold move, American Express sued McGraw-Hill for libel and "publicly disseminating false and misleading statements designed to induce McGraw-Hill shareholders to reject American Express's tender offer." Attackers do not expect to be loved, but they rarely sue for libel. The 22-page complaint was aimed at silencing Harold McGraw, the publishing company's chief, who earlier in the week took out ads harshly attacking American Express, its chairman, James Robinson, and its president, Roger Morley...
...odds do not seem good for McGraw-Hill's management. In tender offers over the past ten years, the target company has been acquired 85% of the time either by the initial aggressor or by another bidder. Even Lipton, who with his pale, bland face and dark shapeless suits looks like an ambitious bank clerk, admits: "Cash offers are rarely defeated." Two years ago, he fended off Congoleum Corp.'s cash offer for Universal Leaf Tobacco. Says a Wall Street merger and acquisition specialist: "Marty tied Congoleum up for over eight months in the courts...
...following night the weary Crimson fell 8-3 to Minnesota-Duluth, as Harvard let a 2-2 score at the end of the first period balloon in its disfavor. Burke, who despite his tender age is establishing himself as the legitimate gunner for this team, popped all three tallies for the icemen, giving him six for the three vacation games and ten for the first half of the season...
Only in the climactic maternal confrontation, which should be unbearably tender, does Howard falter. Tears wet his cheeks, but he does not really seem to weep. Perhaps this is because Audley's Volumnia is like a stage mother who has pushed her son into the limelight, not nurtured him for later glory...
Maura Costin, whose Harvard swimming career has been an endless sequence of injuries, feels healthy again but she said last night that she has changed to new events to avoid putting strain on her tender back. Costin will stick to "mainly sprints"--the 100-yd. butterfly and the 200-yd. freestyle for instance...