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Merger: The Exclusive Inside Story of the Bendix-Martin Marietta Takeover War
By Peter F. Hartz 
2000/01 - Beard Books 1893122336 - Paperback - Reprint - 369 pp. US$34.95 A fascinating inside look into one of the most exciting takeover struggles in corporate industry and the colorful figures involved in it. Publisher Comments William Agee, the youngest man ever to head one of the top 100 American corporations, seemed unstoppable. He took over Bendix, an aerospace, automotive, and industrial firm, determined to diversify the company out of the automotive industry. He sold off a few Bendix units, got some cash together, and began to look for acquisitions. Then Agee's relationship with Mary Cunningham burst into the news. Agee had promoted Cunningham from his executive assistant to vice president, to the outrage of other Bendix employees. Their affair, replete with power, brains, youth, good looks, charm, denial, and deceit, fascinated the American public. Agee turned to acquisition as soon as the gossip died down. A failed attempt to acquire RCA left him more determined than ever, and he set his sights on Martin-Marietta, an undervalued gem in the 1982 market slump. Thus began an all-out war of tenders and countertenders, egoism and conceit, half-truths and dissimulation, and sudden alliances and last-minute court decisions. The author, son of a long-time Bendix director, had unique access to the participants, notes, and documents involved in the takeover war.
Review by Gail Owens Hoelscher Then Agee's relationship with Mary Cunningham burst into the news. Agee had promoted Cunningham from his executive assistant to vice president, to the outrage of other Bendix employees. Their affair, replete with power, brains, youth, good looks, charm, denial, and deceit, fascinated the American public. Cunningham was forced to leave Bendix to work for Seagrams, with the entire country wondering just how well she would do. The two divorced their respective spouses and married soon thereafter. To the chagrin of many, Cunningham continued to play a pivotal role in Bendix affairs. Eager to regain his standing, Agee turned to acquisition as soon as the gossip died down. A failed attempt to acquire RCA left him more determined than ever. He then set his sights on Martin-Marietta, an undervalued gem in the 1982 stock market slump. Thus began an all-out war of tenders and countertenders, egoism and conceit, half-truths and dissimulation, and sudden alliances and last-minute court decisions. This is an exciting and detailed account of the war's scuffles, skirmishes, and battles. The author, son of a long-time Bendix director, was able to interview some of the major participants who most likely would have refused the requests of other authors. Some gave him access to personal notes from the various proceedings. His knowledge of not only the details of the deal, but the personalities of the many and varied players is reflected in the extensive dialogue that is woven throughout the narrative account. In addition, it is obvious that Hartz thoroughly researched the legal and other documents involved in the takeover war, as well as news reports and press releases. He explains the complicated legal maneuverings very clearly, all the while keeping the reader entertained with the personal lives and thoughts of the players. For example, in the Epilogue to the book, Hartz notes that in 1982, Bill Agee and Mary Cunningham were named that year's Most Intriguing Couple by People magazine, noting that the photo that appeared "provoked howls of derision in the business community" because "the couple was pictured in their bedroom with Mary wearing a cable knit sweater sitting on the edge of the bed. Bill was on his knees before her, holding her hands." People love this book. The New York Times Book Review said, "Aggression and treachery, hairbreadth escapes and last-minute reversals, `white knights' and 'shark repellents' - all of these and more can be found in the true-life adventure of the BendixMartin Marietta merger war." The Wall Street Journal said "Merger brims with tension, authentic-sounding dialogue and insider detail." From Business Week:
 Peter F.
Hartz was born in Toronto, Canada in 1953. He moved to the United States in 1964
and has become a naturalized citizen. He graduated from Colgate University in
1975 and received his Master's in Writing from Brown University in 1977. Peter
F. Hartz lives with his wife Kathy and sons Matthew and Christopher in Toluca
Lake, California. Photo from the back cover.
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