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Herbert Allen Sr., 88, an Early Specialist in Corporate Takeovers - The New York Times

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Herbert Allen Sr., the financier who with his brother Charles engineered some of the earliest corporate takeovers by Wall Street firms, died on Saturday at his home in Manhattan. He was 88. Mr. Allen, who dropped out of high school to become a stock trader, soon joined the investment firm his brother founded, Allen & Company, where he was a partner for more than 55 years. He also served for a year as chairman of another concern known as Allen & Company, an investment banking firm that has been run by his son, Herbert A. Allen, since 1965. In recent years, Allen & Company has helped put together some of the biggest deals in the media and entertainment industry, including Seagram's purchase of MCA Inc. and Sony's purchase of Columbia Pictures. Advertisement Long before the 1980's, when the technique became famous, the Allen brothers specialized in corporate buyouts, in which investors take over troubled or low-priced companies and try to turn them around. But the Allens did not have to s

Herbert Allen Sr., the financier who with his brother Charles engineered some of the earliest corporate takeovers by Wall Street firms, died on Saturday at his home in Manhattan. He was 88. Mr. Allen, who dropped out of high school to become a stock trader, soon joined the investment firm his brother founded, Allen & Company, where he was a partner for more than 55 years. He also served for a year as chairman of another concern known as Allen & Company, an investment banking firm that has been run by his son, Herbert A. Allen, since 1965. In recent years, Allen & Company has helped put togethe

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