Deals: A Grand Finale for Flick

A Grand Finale for Flick

Friedrich Karl Flick is the reclusive West German owner of a $4 billion industrial empire, a steel, chemical and paper manufacturer that has been controlled by his family for 77 years. His father Friedrich Flick was convicted at Nuremberg of war crimes and served five years in jail before his death in 1972. Last week Flick, 58, announced that he will sell his company to Deutsche Bank. "The decision has been difficult for me," he said. The sale price was estimated to be about $2 billion, which makes it the largest takeover in West German history. Deutsche Bank immediately announced that...

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