Also ...
- Share via
Hilton Hotels Corp. filed legal motions in federal court seeking to halt ITT Corp.’s planned breakup into three companies, a Hilton spokesman said. The filing, made in U.S. District Court in Nevada, is Hilton’s latest move in its six-month, $6.5-billion hostile takeover bid for ITT, the New York-based owner of Sheraton hotels and Caesars casinos. In July, ITT unveiled a comprehensive plan to thwart Hilton’s efforts. It intends to split its operations, buy back stock and refinance debt. ITT also filed a motion in federal court seeking a declaratory judgment against Hilton. Beverly Hills-based Hilton answered ITT’s motion in the filing, which seeks a ruling enjoining ITT from taking any steps to implement the plan. . . . Berkshire Hathaway Inc., the insurance holding company controlled by billionaire investor Warren Buffett, named Ronald L. Olson to its board. Olson, 56, is a senior partner at Munger, Tolles & Olson, a Los Angeles-based law firm. . . . Irwindale-based H.F. Ahmanson & Co. said its chief financial officer, Kevin Twomey, has been given the title of vice chairman.
More to Read
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.