Irwin A. Jacobs may launch a tender offer for Borg.
- Share via
The financier intensified his takeover efforts by saying he would make a tender offer to Borg-Warner shareholders if a friendly deal could not be arranged. “We just want to move ahead,” Jacobs said. “I’ve had some conversations with (Borg-Warner Chairman Clarence Johnson) yes, but I’ve received nothing in response to our bid.” A group led by Jacobs proposed on Nov. 24 to take control of the Chicago-based firm for $43 to $48 a share, or up to $3.8 billion. The group controls a 12.44% stake in the company.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
