MCA stock rides roller coaster on rumor of buyout deal hitch.MCA MCA in full Music Corporation of America Entertainment conglomerate. It was founded in Chicago in 1924 by Jules Stein as a talent agency. In the 1960s it bought Decca Records and Universal Pictures, and today it produces films, music, and television shows. stock rides roller coaster What a bad CD-R disc is often called. See CD-R and underrun. on rumor of buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. deal hitch hitch to fasten by a knot, usually used to describe tying a horse to a post. UNIVERSAL CITY - MCA Inc.'s stock first plummeting and then recovered last week following a rumor that buyout talks with Osaka, Japan-based Matsushita Electric Industrial Co. had been suspended until mid-November. The stock fell as low as $48 a share Oct. 24 following a Nikkei News Service report of the problem, but then rose to $57 a share the following day after Matsushita issued a statement denying that the talks had broken off. "This may have been the first false rumor that we've seen on this deal," said Paul Marsh, an analyst with Bateman Eichler, Hill Richards. The denial was the first comment from either company in several weeks. MCA has refused to comment about the negotiations since admitting that it was holding buyout talks with Matsushita. |
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