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Ron Perelman
Ron Perelman, one of the wealthiest men in America, sits down for his first ever Q&A.
Marvin R. Shanken
From the Print Edition:
Ron Perelman, Spring 95
(continued from page 16)
Shanken: And did you make a profit on the sale?
Perelman: Yes.
Shanken: A substantial profit?
Perelman: I don't remember what it was. It was in excess of $50 million.
Shanken: What was it? They wanted to remain independent, or they didn't want Ron Perelman?
Perelman: I think they wanted to remain independent. I think that who took them out of their independent status was far less significant than...
Shanken: Who did?
Perelman: Nobody did. They never did the deal with Ralston Purina, and they just started performing up to the levels that we thought all along they could perform at and they ultimately did a deal with Warren Buffett. They did a preferred with Warren Buffett, who gave them the money to pay back the banks for the stock they bought from us, and then they took Buffett out. A brilliant deal for Buffett.
Shanken: At what point did you start doing business with Drexel? Early on?
Perelman: Definitely. Probably 1980.
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