"Pioneer of The Hostile Takeover"
He was said by Forbes magazine to "have the arrogance of a banana republic dictator" and by the New York Times to be the "dean of the corporate takeover". The Economist said, after he died, "he was a pioneer of the hostile takeover of a public company. He was dismissive of the convention previously observed that a takeover should have the agreement of the existing board. He would spot a company whose assets he judged were undervalued, gain control and milk it. Some bits would be sold off, others would be closed. Previously unconsidered treasures, such as the employees' pension fund, would be raided and reinvested in Mr Posner's other companies." Posner was a maverick player in the world of corporate finance. Many of his dealings were alleged to be illegal and he was closely watched by the Securities and Exchange Commission from the mid-1980s on.
Read more about this topic: Victor Posner
Famous quotes containing the words pioneer of, pioneer, hostile and/or takeover:
“New pioneer of days and ways, be gone.
Hunt out your own or make your own alone.
Go down the street.”
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“Mead had studied for the ministry, but had lost his faith and took great delight in blasphemy. Capt. Charles H. Frady, pioneer missionary, held a meeting here and brought Mead back into the fold. He then became so devout that, one Sunday, when he happened upon a swimming party, he shot at the people in the river, and threatened to kill anyone he again caught desecrating the Sabbath.”
—For the State of Nebraska, U.S. public relief program (1935-1943)
“There is nothing more poetic and terrible than the skyscrapers’ battle with the heavens that cover them. Snow, rain, and mist highlight, drench, or conceal the vast towers, but those towers, hostile to mystery and blind to any sort of play, shear off the rain’s tresses and shine their three thousand swords through the soft swan of the fog.”
—Federico García Lorca (1898–1936)
“A poet is a combination of an instrument and a human being in one person, with the former gradually taking over the latter. The sensation of this takeover is responsible for timbre; the realization of it, for destiny.”
—Joseph Brodsky (b. 1940)