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Article: Bankers: Lauder's bid for Africa-Israel bound to fail
- Article from:
- Jerusalem Post
- Article date:
- November 7, 1996
- Author:
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GALIT LIPKIS BECK
Jerusalem Post
11-07-1996
THE Ronald Lauder-Bear Stearns group's bid in the Africa-Israel Investments tender is bound to be dismissed, thus leaving parent company Bank Leumi with only two effective bidders in the tender for the 62-year-old holding company, a source close to the negotiations said yesterday.
US business tycoon Ronald Lauder, in partnership with New York investment bank Bear Stearns, submitted a bid subject to conditions that are not included in the transaction document, said the source. The two other groups competing for the investment consortium, Lev Leviev and a South African investment group, submitted bids significantly higher than the $330 million ...