Word: antitrusters
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...corporate wedding: the nation's seventh and 17th largest banks were merging into Manufacturers Hanover Trust, which, with $6 billion in assets, almost overnight became the U.S.'s fourth biggest bank. The marriage was hardly consummated, however, before a federal judge ordered divorce proceedings on grounds of antitrust violation. Bankers were faced with the staggering project of unraveling 135 merged offices and a million depositors. Last week, after five years of uncertainty, the marriage was saved. The counselor who did it: the U.S. Congress, which passed a bank-merger bill specifying the terms of acceptable new mergers...
...other nine teams in the National League with illegally and monopolistically conspiring to deprive Milwaukee of its major-league franchise. The state also filed a separate suit in federal court, arguing that the U.S. Supreme Court should override its previous decisions exempting big-league ball from the Sherman Antitrust...
Transamerica was set up in 1928 by A. P. Giannini as a vehicle to expand his California-dominating Bank of America across the U.S. The company beat an antitrust suit in court, but Giannini later decided to divorce Transamerica from the bank anyway. By 1956, the separated company had built itself into a holding company that controlled 23 banks in eleven Western states, had also spread out into insurance and a few other fields. Congress ended all that with a law (aimed particularly at Transamerica) that forced the company either to get out of banking or cease all its other...
...leave competitors in a cloud of suds. The Federal Trade Commission feels, in fact, that the distance between P. & G. and its rivals has grown too great. In a case about to be decided in court, it charges that P. & G. has violated the bounds of the Clayton Antitrust Act by competing too aggressively. The charge has put the hard-driving salesmen of P. & G. in a quandary: How can their company continue to grow if it is already big enough to be anticompetitive...
...Edison has used its expropriation cash to move into electronics and heavy machinery, but most strongly into chemicals, where it has become Montecatini's principal rival. The merged company would no longer have to worry about that kind of competition, nor, because of Italy's easy antitrust laws, about facing monopoly charges...