The Harder They Fall: An Aussie raider's tumble

An Aussie raider's tumble

Robert Holmes a Court, Australia's first billionaire and one of the world's most fearsome corporate raiders, was renowned at home as the Great Acquirer. In the U.S., his targets were the giants USX and Texaco. But when he arrived in his gold-toned Rolls-Royce for a meeting of his corporate shareholders last month in Perth, Holmes a Court, 50, had acquired a new identity: the Great Disposer.

Holmes a Court was not at the meeting to announce yet another daring takeover but to concede the end of his boldest dream. In just eight minutes, the raider crisply laid out plans for his...

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