Robins Denies Demand for ‘Perks’ Torpedoed Buyout

A. H. Robins Co., stung by reports that a recent buyout offer fell through after its top executives bargained for lucrative management contracts and “golden parachutes,” denied the reports and insisted Friday that its management had tried to make the buyout work.

Robins President and Chief Executive E. Claiborne Robins Jr. called the reports “anonymous allegations” that are “irresponsible and factually inaccurate. . . . There was never any discussion of executive perks.”

Last week, American Home Products, maker of Dristan and Anacin, withdrew its bid to buy troubled Robins and to compensate victims of the firm’s Dalkon Shield intrauterine device. Monetary claims by victims have forced Robins to seek protection under the U.S. Bankruptcy Code from creditors. American Home Products has not disclosed why it dropped its bid.

Robins’ chief executive also said on Friday that American Home Products officials were told that he and his father, E. Claiborne Robins, chairman, “were willing to do whatever was necessary to facilitate the transaction, including relinquishing their respective positions.”