Resisting Hostile Takeovers: The Case of Gillette

Overview

Written by the first woman director of the Gillette Company, this is an exciting first-hand account of Gillette's successful fight against four hostile takeover efforts during the late 1980s. After a brief, insightful history of the company and the growth of its world-famous products—Gillette razors and blades; Braun coffee machines and electric razors; Oral-B toothbrushes; Paper Mate, Waterman, and Parker pens; and cosmetics—the author tells the inside story of Ronald Perelman's three attempts and the Coniston ...

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Overview

Written by the first woman director of the Gillette Company, this is an exciting first-hand account of Gillette's successful fight against four hostile takeover efforts during the late 1980s. After a brief, insightful history of the company and the growth of its world-famous products—Gillette razors and blades; Braun coffee machines and electric razors; Oral-B toothbrushes; Paper Mate, Waterman, and Parker pens; and cosmetics—the author tells the inside story of Ronald Perelman's three attempts and the Coniston Partners' one attempt to take over Gillette. Ricardo-Campbell, who chaired Gillette's Finance Committee during this period, provides a fascinating look at the ensuing proxy battles and other intricate financial maneuvers. Combining academic theory and first-hand experience in its discussion of topics such as greenmail and poison pills, this work also features such world-renowned corporate figures as Warren Buffett, Joe Flom, and Eric Gleacher.

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Editorial Reviews

Booknews
The first woman director of the Gillette Company and chair of its Finance Committee at the time, Ricardo-Campbell (economics, Stanford U) recounts the inside story of fending off four efforts to take over the company during the late 1980s. She describes the proxy battles and financial maneuvers and explains such aspects as greenmail and poison pills. The self-defense lessons she learned could be used by other directors, and do not assume a large supply of razor blades at hand. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9780275958305
  • Publisher: Greenwood Publishing Group, Incorporated
  • Publication date: 10/28/1997
  • Pages: 272
  • Product dimensions: 6.30 (w) x 9.30 (h) x 1.10 (d)

Meet the Author

RITA RICARDO-CAMPBELL is Senior Fellow Emerita at the Hoover Institution, Stanford University.

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Table of Contents

Acknowledgments
Abbreviations
1 Introduction 1
2 November 1986: In Play 11
3 The Gillette Company: Brief History 45
4 The Takeover Climate: Poison Pills, Junk Bonds, Stock Price, Industrial Espionage(?), Insider Knowledge 83
5 The Restructuring of Gillette 107
6 Hot Summer: Unsolicited Bids of 1987 125
7 A Target 143
8 Proxy Contest and Legal Outcome 165
9 Proxy Fight Overhang 191
10 In Retrospect 217
Bibliography 235
Index 247
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