Posted on 01/30/2006 7:27:26 AM PST by balk
Fairmont finds white knight
By TAVIA GRANT Monday, January 30, 2006 Posted at 7:42 AM EST Globe and Mail Update
Fairmont Hotels & Resorts Inc. agreed to be acquired for $3.9-billion (U.S.) by Saudi Prince Alwaleed bin Talal's Kingdom Hotels International and investment firm Colony Capital, thwarting a takeover attempt by U.S. investor Carl Icahn.
The transaction values the Toronto-based company at $45 a share, 12.5 per cent more than Mr. Icahn's $40-a-share bid in December. Fairmont's board unanimously approved the Saudi offer and continues to recommend shareholders reject Mr. Icahn's offer.
Prince Alwaleed bin Talal bin Addulaziz Alsaud is one of the world's richest people.
.........connecting the dots.................
Charitable activities
Prince Al-Waleed is heavily involved in charitable activities across the Middle-East, Asia and Africa, and is estimated to donate more than $100 million annually to charity. Much of this expenditure is in the field of educational initiatives to bridge gaps between Western and Islamic communities by funding centers of American studies and research in universities in Middle East and centers of Islamic studies in American universities.
In 2001 he offered New York City a donation of $10 million towards relief efforts after the September 11, 2001 attacks. This was rejected by Mayor Rudy Giuliani because he felt that the prince's issuance of a statement that the United States "must address some of the issues that led to such a criminal attack" could be construed as a justification of the terrorist incidents.
No you remember correctly about the Prince's attitudes.
And Giuliani DID give the money back, in one great gesture.
Too bad he doesn't seem to want to run for President.
Because it is attitudes like the one he demonstrated 4 years ago that are the only thing that will save us.
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