Resisting Hostile Takeovers: The Case of Gillette [Hardcover]

Rita Ricardo-Campbell (Author)

Book Description

Publication Date: October 30, 1997 | ISBN-10: 0275958302 | ISBN-13: 978-0275958305

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.

Editorial Reviews

Review

“Resisting Hostile Takeovers is an insider's first-hand narrative of a significant event in contemporary business history... The book takes the reader into the Gillette boardroom and presents the human emotion and drama of corporate economic warfare. For the business economist, there is nothing like it in the literature.... we are given insight into the dilemmas the author faced when reconciling policy decisions driven by general economic theory versus choices that are mandated by specific business situations.... The book allows the rest of us to share a part of the excitement, drama, and personal experiences of a fellow business economist who was an active participant in this interesting story.”–Business Economics

“[This book] is must reading for business executives and students of American business history. With her detailed understanding of Gillette's history from its founding in 1901, through the Great Depression, World War II, the oil crises of the 1970s, the hostile takeover attempts of the 1980s and the more friendly bids in the 1990s, Professor Ricardo-Campbell captures the essential features of the American corporate experience in the 20th century. This superb volume will also serve as a valuable educational resource, as it underscores the importance of courageous leadership, the need for continual product innovation and diversification, and the importance of risk in today's global business environment.”–William E. Simon Former Secretary of the Treasury

“Ricardo-Campbell has succeeded in making a takeover battle and the boardroom deliberations come alive. Perhaps the most important contribution of the book is that she revised the normal approach. Rather than starting with a theory or conclusion that she wanted to prove, Ricardo-Campbell analyzed the events and then followed the findings wherever they led.”– Murray Weidenbaum Former Chairman Council of Economic Advisors

About the Author

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

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Product Details

• Hardcover: 272 pages
• Publisher: Praeger Publishers (October 30, 1997)
• Language: English
• ISBN-10: 0275958302
• ISBN-13: 978-0275958305
• Product Dimensions: 9.2 x 6.1 x 1.3 inches
• Shipping Weight: 12.8 ounces (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,342,616 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

4.0 out of 5 stars worth reading, December 25, 2003

By 

Sangwoo Kim (Seoul, Korea) - See all my reviews

This review is from: Resisting Hostile Takeovers: The Case of Gillette (Hardcover)

I believe Resisting Hostile Takeovers is worth reading though I don't completely agree with Ms.Ricardo-Campbell's writing style. This book discusses two events Gillette had experiened through 1986 and 1988: hostile hakeover attempt and proxy battle. The author, as economist, very concisely details the major issues arising in the takeover battle such as business decision rule, antigreenmail, proxy battle, anti-takeover legislation etc. Caution is required, however, since this book is written from a board member's viewpoint and there are relatively not much about how managements and other legal and financial advisors reacted to the threats.

1 of 2 people found the following review helpful:

5.0 out of 5 stars an excellent , detailed account, September 25, 1999

By 

[e-mail] (Thomasville, Georgia, USA) - See all my reviews

This review is from: Resisting Hostile Takeovers: The Case of Gillette (Hardcover)

This excellent thesis has great credibility because it was written by someone who was actually in the game and not on the sidelines looking in. The detail is such that it could also serve as a text on the subject of takeovers. This book serves as a testament that even the some of the best managers(Gillette) should and will be constantly challenged ( if need be by outsiders like Perelman, etc) to increase shareholder value.

0 of 1 people found the following review helpful:

5.0 out of 5 stars Taking the outsider in, December 12, 1997

By 

Alexander HALACEK (Leoben Österreich) - See all my reviews

This review is from: Resisting Hostile Takeovers: The Case of Gillette (Hardcover)

Well, perhaps not many students find takeover sories interesting. Perhaps,... But for an insight into real business problems, the Gillettte story is one of the very best. It shows that women may be better managers (even in a razor company), provides a fresh written perspective, and should be considered as a wounderful learing example for further geneations.