Texas Federal Board Meets to Consider Takeover Bids

American Banker, April 9, 1984 | Go to article overview

Texas Federal Board Meets to Consider Takeover Bids


DALLAS -- Texas Federal Financial Corp., the second largest savings association in Dallas, held a special all-day board meeting Friday to consider bids for its takeover.

Texas Federal halted trading in its stock Thursday at 11:16 a.m. to announce that it expected to receive at least several takeover offers. The stock closed at an all time high of $36 -- up $2.13 a share -- on Thursday in over-the-counter trading.

In a prepared statement, Texas Federal President Joel T. Williams 3d said that the company "is engaged in discussions with several companies regarding the possible acquisition of Texas Federal."

Last Thursday, Mr. Williams said that Texas Federal expected to receive one of more offers for acquisition "as a result of its discussions."

Mr. Williams declined to name his company' suitors. But financial industry analysts said that two prime candidates are Dallas businessman H.R. (Bum) Bright, and Tracy Taylor, president of Watson & Taylor Cos., a Dallas real estate developer.

Mr. Taylor, the son of Dallas Mayor Starke Taylor, declined to comment. "I've heard my name is out there, but I should not make any comment," he said.

However, at seminar on land investment held last Tuesday at Southern Methodist University, Mr. Taylor said his company was actively pursuing the purchase of one or more savings and loan associations. Because S&Ls are active in real estate financing, Mr. Taylor said a thrift would compliment the operations of a development company.

With assets of $1.4 billion, Texas Federal is the holding company that owns Texas Federal Savings & Loan Association, as well as three title companies -- Hexter-Fair Title Co., Lawyers Title Agency Inc. of Denton, and Tarrant Title Co. of Fort Worth.

Texas Federal Savings & Loan has 37 branches and six loan origination offices, primarily in Dallas, Houston, Austin, and San Antonio.

During the last two years, Texas Federal has opened minibranches in grocery stores in both Houston and Austin. The association also operates 53 automated teller machines through the statewide Mpact network.

Texas Federal, the seventh largest S&L in Texas, has been the object of much takeover speculation since Mr. Bright made an offer for the association in mid-February. Texas Federal officials rejected Mr. Bright's offer of $65 million in cash, or $32.75 a share, as "totally inadequate."

Early Friday, Mr. Bright, a general partner of the Dallas Cowboys ownership group, said he made another offer for Texas Federal, but gave no further details. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Texas Federal Board Meets to Consider Takeover Bids
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.