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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Why was the partner Groupe Bruxelles Lambert S.A. not happy with Drexel and trying to take it over?
(a) the falling stock price of drexel
(b) the Drexel practice of not paying dividends
(c) Drexel's secret bookkeeping
(d) the Drexel continued support of Mike Milken

2. What did Bergerac and his allies forget in the process of fighting the takeover?
(a) The company was failing during that time.
(b) That Perelman had Minken behind him.
(c) The large cash bids by Pereleman would benefit the shareholders.
(d) That the courts could prevent them from offering a management contract.

3. Who made the contact for Wedvick with Kansa?
(a) Carl Icahn
(b) Fred Joseph
(c) Rodrigo Rocha
(d) Michael Milken

4. What did Grant continue to predict?
(a) a gradual shift from vigilance to recklessness in lending and borrowing
(b) a major acquisition that would stagger the mind
(c) that M&As would revitalize the national economy
(d) the end of leveraged buyouts when everything good was taken over

5. How was Joseph building his diversified team?
(a) by computerizing his entire operation
(b) by taking his time to get the right people together
(c) by training inexpensive novices to learn the business
(d) by hiring people away from other firms for huge salaries

Short Answer Questions

1. How did Perelman acquire Technicolor?

2. Who paid $2-billion for the Metromedia television stations and their assets?

3. What happened to the plan for moving to the Seven World Trade Center?

4. Before Sigoloff switched to Drexel, who was handling his takeover bid for Wickes?

5. How was Drexel being spoken of after the success of so many hostile takeovers?

Short Essay Questions

1. Why did Sanford Sigoloff switch from Salomon Brothers to Drexel when he was acquiring Wickes?

2. Describe the reason for Wedvick's problems with Atlantic Capital.

3. How and why did Milken avoid personal publicity?

4. What role did LTV play in identifying a weakness in the junk market?

5. What was Ronald Perelman's purpose for acquiring Pantry Pride?

6. What were the results of the ongoing investigations of Drexel and Milken?

7. State some of the details about Milken's being investigated for insider trading.

8. How did political connections aid Drexel?

9. Why did Milken play the role of enforcer?

10. What were some of the detractors of LTOs saying about the practice in the 1980s?

(see the answer keys)

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