Word: buy-out
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Dates: during 1967-1967
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Apparently unbothered by the Supreme Court's latest merger ruling, last week the board of Cleveland-based Stouffer Foods Corp. approved Litton Industries' buy-out offer of about $100 million. For Litton, which annually sells over a billion dollars' worth of products ranging from ships to space components, the Stouffer acquisition marks a second venture into consumer goods. The first was The Royal McBee typewriter company, which the sprawling West Coast company picked...