May 2, 2006 |
Aramark Corp.'s shares soared yesterday after the Philadelphia food-service company received a $5.8 billion cash buyout offer led by chairman and chief executive officer Joseph Neubauer. Neubauer and a group of private-equity firms offered $32.00 a share, a 14 percent premium over Friday's close of $28.11. Aramark's publicly traded class B shares zoomed past the offer price to close yesterday at $33.90 a share - a 20.6 percent, or $5.79, gain from Friday. "The offer seems a bit low to us," Morgan Stanley analyst Christopher P. Gutek said in a note to investors.
May 1, 1986 |
The board of directors of the Philadelphia Orchestra Association, once the bastion of the bluest of the region's blue bloods, is a different animal these days. Gone are many of the representatives of traditional orchestra families. In their places are men and women with the kind of corporate connections that once might have produced a shudder within Philadelphia's established upper crust. Just this year, developer Ronald I. Rubin; Harvey Lamm, chairman of Subaru of America Inc.; George Ross of Goldman Sachs & Co., and Edward A. Montgomery of Mellon Bank were voted on to the board.
February 7, 2013 |
The planned sale of computer company Dell Inc. to founder Michael Dell , buyout firm Silver Lake Partners , Microsoft, and other financiers marks the end of a couple of familiar periods at the busy junction of dollars and data. The sale price, $24.4 billion, sounds like a lot; at $13 and change a share, it's a premium for a stock that's been slipping down toward single digits. But it's less than a quarter of the $100 billion-plus (up to $58 a share) that Dell was worth in the late 1990s and mid-2000s, back when its personal computers and laptops were flying from factories and bets on Dell's prospects were the hottest contracts, drawing put and call orders for the jostling bright-jacketed traders on the basement floor of the Philadelphia Stock Exchange , which held the Dell monopoly by grace of the national stock-options cartel.
December 14, 2013 |
NEW YORK - When Eric J. Foss, Aramark's chief executive, huddled for about 20 minutes Thursday morning with traders on the floor of the New York Stock Exchange waiting for the first trade of the Philadelphia company's new shares, that may well have been the longest break he's had in the last week and a half. Foss and other Aramark executives have been to nine cities in the last eight days, meeting with more than 200 institutional investors to drum up interest in Aramark, which was going public for the third time.
April 26, 1998 |
Time has run out on Aramark Corp.'s controversial plan to convert itself into one of the nation's biggest companies wholly owned by its bosses and workers. Officials of the Philadelphia multinational were mum last week on the prospects for resuscitating the plan, which was struck down by a Delaware judge in February. Aramark initially appealed. But in papers filed with the Securities and Exchange Commission earlier this month, Aramark acknowledged it has abandoned the plan "in its current form," and dropped its legal proceedings.
August 9, 2006 |
A $6.3 billion bid to put Aramark Corp., one of Philadelphia's biggest companies, in the hands of private investors led by chairman Joseph Neubauer has been approved by the company's directors. Aramark, which got its start in 1936 as a seller of peanuts, is now known for selling food in venues such as Citizens Bank Park and Lincoln Financial Field, and for operating hotels and restaurants in national parks. This marks the second time that the company, led by Neubauer since 1983, has moved to take itself off the stock market.
May 11, 2012 |
IN THE REGION Insider trading charged The U.S. Attorney in Philadelphia charged Timothy McGee, of Philadelphia, with insider trading, saying that McGee learned of the pending acquisition of Bala Cynwyd insurer Philadelphia Consolidated Holding Corp. by Tokio Marine from a Philadelphia Consolidated executive McGee knew through Alcoholics Anonymous. The two-count indictment of McGee, 48, alleges that he made $292,000 from illegal trades. The indictment also alleges that McGee tipped a friend to the pending sale of Philadelphia Consolidated.
April 12, 1993 |
"Hey, I'm gonna go hang out with Gracie," exclaimed Joseph Neubauer as he broke away from an entourage of ARA Services Inc. executives to dart behind a food-service counter in an ARA-run cafeteria. Grace Bland, beef carver and rotisserie operator, giggled indulgently, scolded ARA's chief executive officer for getting in her way, and then posed with him for a photo. This particular byplay, on a tour of an ARA-managed corporate cafeteria, may have been just staged-for-the-media foolishness.
October 29, 2003 |
William Leonard, 55, was named chief executive yesterday of Aramark Corp., the Philadelphia-based global food and facilities-management firm where he has worked for 21 years. When he takes over in January, he will become only the fourth CEO in the company's 44 years, succeeding Joseph Neubauer, 62, who has held the office since 1984. There will not be a lot of changes, Leonard said. "Joe and I think alike at work. . . . After work, we're as different as night and day. . . . He's symphony and opera.
July 19, 1999 |
Compensation in the most recent fiscal year for which data are available of selected corporate officers at Philadelphia-area companies required to report this information to the SEC. Total includes salary, bonus, restricted stock awards, incentive plan payouts and, for executives marked with an asterisk, profits from options granted in previous years. The key to the position abbreviations is on the next page. NAME TITLE TOTAL A.C. Moore Arts & Crafts, Blackwood, Retail Jack Parker CEO 300,000 Rex Rambo COO 300,000 Patricia A. Parker EVP 215,000 Leslie H. Gordon CFO 207,000 William Kaplan Ch 150,000 Acrodyne Communications, Blue Bell, Communications equipment A. Robert Mancuso CEO 150,000 Daniel D. Traynor GM 126,500 Timothy P. Hulick VP 113,000 Advanta, Spring House, Financial services Dennis Alter CEO 10,293,590 Olaf Olafsson P 7,446,171 William A. Rosoff VCh 6,842,081 Philip M. Browne CFO 1,959,704 Charles H. Podowski CEO/S 722,072 Airgas, Radnor, Distribution Herman Knieling GP 939,019 Peter McCausland CEO 550,000 William A. Rice Jr. COO 285,356 Ted R. Schulte VP 273,390 Samuel H. Goldstein CIO 225,000 Air Products & Chemicals, Allentown, Chemicals Harold A. Wagner CEO 4,301,191 Joseph J. Kaminski EVP 1,908,765 John P. Jones 3d COO 1,678,040 James H. Agger GC 1,588,988 Robert E. Gadomski EVP 1,514,937 Alliance...