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unusual facts about Buyout


1992 Tennessee Volunteers football team

By the end of the season, the university bought-out the remainder of Majors' contract, and on November 29, Fulmer was named as the Volunteers' new head coach effective after the Hall of Fame Bowl.


Aramark

In 1983, Joseph Neubauer was elected CEO of ARA Services and a year later, in 1984, Neubauer led a group of executives to fend off a hostile takeover bid by coordinating a management buyout.

Blackboard Inc.

Though previously a public company, following its 2011 buyout by Providence Equity Partners Blackboard now operates as a private company.

Bryan Harsin

Because Malzahn and his predecessor Hugh Freeze left after just one season in Jonesboro, Harsin's contract at Arkansas State included a $1.75 million buyout clause.

Crandon mine

However, after Kennecott's buyout by Rio Tinto Zinc, and the governorship of the pro-business Tommy Thompson, the mine was allowed to open in face of the opposition, and operated from 1993 to 1997.

Ed Wilson

After acquiring Tribune Company in a leveraged buyout in April 2007, Sam Zell hired Wilson as president of Tribune Broadcasting in February 2008 as part of a new management team led by Randy Michaels.

Fair and Equitable Tobacco Reform Act

The main component of the Fair and Equitable Tobacco Reform Act is the Tobacco Transition Payment Program (TTPP, otherwise known as the "Tobacco Buyout"), which was formalized by the United States Department of Agriculture in February 2005.

The Tobacco Buyout ended all aspects of the federal tobacco marketing quota and price support loan programs that were established by the Agricultural Adjustment Act in 1938.

Freddy Spaghetti

When Leslie complains to city planner Mark (Paul Schneider) about her situation, she learns he has taken a buyout and plans to join a construction company, partially in response to Ann (Rashida Jones) having broken up with him.

Friday the 13th mini-crash

The UAL deal unraveled because the Association of Flight Attendants pulled out of the deal when management, in negotiations over an Employee Stock Ownership Plan (ESOP) designed to fund the leveraged buyout, refused to agree to terms equivalent to those negotiated with other labor groups.

Grandy's

A buyout of Saga by Marriott Corporation led to a sell off of the Grandy's chain, along with other concepts owned by Saga, to American Restaurant Group.

ITV Westcountry

During the summer of 1996, Westcountry prepared to float the company on the stock market, which resulted in HTV, United News & Media, Carlton Communications and Canwest bidding to buyout Westcountry.

J.D. Strong

Strong has worked with northern Ottawa County officials on a massive buyout assistance program to relocate families and businesses from the nation’s most hazardous Superfund Site—the Tar Creek Superfund Site in Picher, Oklahoma.

J.W. Childs Associates

The company is headquartered in Waltham, Massachusetts and was founded in 1995 by longtime buyout investor John W. Childs, who had previously been the number two partner at large-cap Boston-based private equity firm Thomas H. Lee Partners.

Jamie Byng

When Canongate was on the verge of bankruptcy in 1994, Byng, then in his mid-20s, instigated a buyout, aided by his business partner Hugh Andrew, his stepfather (former BBC chairman Sir Christopher Bland) and then father-in-law (co-chairman of the multinational investment bank Salomon Smith Barney).

Kevin Bermeister

In 1992, Bermeister and Mark Dyne successfully led a management buyout, together with Sega Enterprises, to form Sega Ozisoft Pty Limited representing exclusively the world's largest video game publisher.

Martin Greenberg

Greenberg and O'Conner clashed about the direction of the press, causing Greenberg to leave, taking the rights to The Carnelian Cube by L. Sprague de Camp and Fletcher Pratt as his buyout fee.

Merrow Sewing Machine Company

2004: Charlie Merrow and Owen Merrow great grandsons of Lena Bryant (and great nephews to Joseph B. Merrow) with their father Robert Merrow, organize a buyout of the Merrow Machine Company and move its headquarters to Wareham, Massachusetts, changing its name to The Merrow Sewing Machine Company.

Private equity

By the end of the 1980s the excesses of the buyout market were beginning to show, with the bankruptcy of several large buyouts including Robert Campeau's 1988 buyout of Federated Department Stores, the 1986 buyout of the Revco drug stores, Walter Industries, FEB Trucking and Eaton Leonard.

Private equity in the 1990s

By the end of the 1980s the excesses of the buyout market were beginning to show, with the bankruptcy of several large buyouts including Robert Campeau's 1988 buyout of Federated Department Stores, the 1986 buyout of the Revco drug stores, Walter Industries, FEB Trucking and Eaton Leonard.

Scott Foresman

Scott, Foresman became a public corporation and was listed on the New York Stock Exchange, but the company was taken private in a leveraged buyout in 1985.

Victrex

The company was established in 1993 by way of a management buyout of the PEEK polymer business of Imperial Chemical Industries plc.

VSNL International Canada

After the American buyout, the head office was in Reston, Virginia.

Yates's

When 30% of the Yates Group company shares were owned by the Dickson and Yates family, in June 2004 the company had a management buyout (MBO) offer funded by GI Partners.

Zoran Planinić

In the summer of 2006, Planinić and the New Jersey Nets agreed to a buyout, in which he was sent back to Europe to spend the season with TAU Cerámica of the Spanish ACB League, a team that also featured talented NBA prospect Tiago Splitter.


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