sepoctpreview1987

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With some modifications, the sound tracks from the commercials were made into radio commercials. Ads based on the theme of the TV commercials are available in positive for black & white magazine or newspaper ads, or in reverse for use with a background color.

~enito m~m

""

J:pmgpeople, it all comes down to you. United WayIt brings out the best in all of us.

This world is not helpless. When you help. United WayIt brings out the best in all of us.

45


Buyer RepresentationUnilateral Tender Offers In a perfKt wortd, acquisitions would always be friendly, nepU.ted tranuctions. But the reality Is

tt...t a Hrlous buyer can propose a full, fair price ftHachl.npofcontrol, andcanupenda&raatdaal

ofUma, effortandpatlencetonecotllteafrlendly acqufsltion.butstlllbeunsuccassfui. SmlthBamay Is committed to maklncavery effort to achieve neaoUated acquisitions. However, the mana&• mant and Board of Olrecton of an acquisition candidate may dedlna to consider a transaction that would result In a loss of autonomy. In other situations, the tara:•t'• manqamant may Intend to acquire th.tr company In a ~verasad buyout. In either case, a detannlnad buyer hu no attarnatlva means to achlevalts objedfvas and

~forced

to

''

makaafonnaloffardlrectlytothatarset'ssharehotden. ln such casas, Smith S.may remains fully commlttltd to our dlants by provldlnJ••pert flnandaladvlceandactlnJ&Sdaalerman&Jar foranunsolidtedtenderoffer. lnthep.astthreeyears, SmlthBarneyhassucceufvlly advised our dlents u dealer manacer and flnandaladvlsot' In consummatinc three of four acqulsltionsthrouchunllateraltenderoffers. lnexecvtln&theMtranuctions, weanalyzeddefenslve stratecles availAble to the tarcet company. Weldentff~d

prospective whtte lcnlchts and eumlned their

flnandaland manacertal resourcu. Since the prklns ofauniiAteraltenderoffer lsuswallythemcst lmportantfactorforsuccess, apreclsevaluatlonls CI"IKIAI. After commen<:ln& a unilAteral tender offer, thelceyobjectfvelstoforcethetarsettoneptiatea frtendty rnet'IJer areement provldlnc for a successful acquisition on alone-term basis. Smith Iamey's skill and experience In these neptiatlonsasslst our d~nts

In reachlnc amkablesetttements.

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72

Communication Arts September/October 1987


ARMANDO TESTA

Apple, greeting card, 1974. Breakfast Island, greeting card, 1986. Right: Poster for Amnesty International, 1975. Nel Castello di Kafka, 1983, 28x40. Poster for an exhibition with a specified theme: Kafka's portrait (on the centennial of his birth). Pecunia, 1983, 28x40. Poster for an exhibition of graphic humor. "The Italian lira is always worth less and less:¡ Magia, 1984, 28x40. Poster for an exhibition devoted to magic, a dark and compact threedimensional form done with a brush.

84

Communication Arts September/October 1987


1-ta Claus is com-in' to towwwwwwn.

GREET! ~ FR

He's mak-ing a list

1 Au

and check-ing it twice,

U

I i\L\DSf

Gon-na find out

who's naught-y and nice,

San-ta Claus is com-in' to towwww

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