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Folder 137

Label derived from the City's folder field. The City does not supply document titles.NYC-WTC_000136196–000136390
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NYC 9/11 Public Portal Document

Subj: <ProQuest> Order<356529329> Date: 9/18/2001 1:33:53 PM Eastern Daylight Time From: [email protected] (ProQuest) To: [email protected]

The following article has been sent by a user at NEW YORK PUBLIC LIBRARY via Proquest, an information service of the ProQuest Company

Behind the scenes wrangling preceded Cantor court fight The Investment Dealers' Digest: IDD New York May 13, 1996

Authors: 5sLA f Sh_q SIT d Willoughby, Jack

Volume: 62

Issue: 20

Start Page:

ISSN: 00210080

Subject Terms: Settlements & damages Investment bankers Executives Corporate govemance Case studies

Classification Codes: 9190: US 9110: Company specific/case studies 8130: Investment services 4330: Litigation 2400: Public relations

Geographic Names: US Companies: Company Name: Cantor Fitzgerald & Co Inc DUNS: 04-310-6376

Abstract:

In the few hours of court hearings that preceded a quickly-negotiated settlement on the ownership of Cantor Fitzgerald last week, the waning parties shed light on internal maneuvering that led up to the court battle. Howard Lutnick, president and now managing general partner, revealed an aborted attempt to buy out the Cantor family's stake in mid -1995. The attempt was called Project Omega, and it would have bought out the majority stake owned by B. Gerald Cantor and his wife Iris. Lutnick testified that he and 2 other partners joined in negotiations to buy control of the firm in mid-1995 when Bernie Cantor was not yet critically ill. The 3 partners were willing to pay between $150 million and $175 million to the Cantors and as much as $300 million for control of the firm over time. The terms of the settlement announced Tuesday, stem from the Omega negotiations. TueWey, September 1!, 2001 llmerlu Onllne: Ro10 Page: t

NYC-WTC 000136339

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NYC-WTC_000136339Source: NYC Law Department, mirrored locally

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