Word: corp
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Dates: during 1960-1969
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...year, the legislative branch and the judiciary were unable to agree on ground rules for approving them. The Manufacturers Hanover move, like other mergers of the time, was cleared with three regulatory agencies, the Federal Reserve, the Comptroller of the Currency and the Federal Deposit Insurance Corp. The three agencies, following Congressional dictates set down in the bank merger act of 1960, approved any linkup in which community benefit seemed to outweigh the diminishing of competition. But in 1963, reviewing the case of a Philadelphia merger, the Supreme Court ruled that, regardless of economic benefit, a bank merger could still...
...dividend in a decade-but it came wrapped in mystery. On behalf of an unnamed investor, the venerable Manhattan investment-banking firms of Lehman Bros, and Lazard Freres announced that they would pay $30 a share, $3.25 above the market price, for up to 500,000 shares of Studebaker Corp...
...million pipeline that will carry natural gas 800 miles north from Iran's southern oilfields to the Russian border. At Bandar Shahpur, still others staked out the site for a $100 million petrochemical plant, owned jointly by Iran and the U.S.'s Allied Chemical Corp. Around the clock, workmen were building two new ports on the Persian Gulf ($300 million), a state-owned refinery outside Teheran ($133 million) and, nearby, the giant Latyan Dam ($100 million), which they hope to complete early...
Behind these prime contractors, scores of specialists ranging from Aerojet-General (rocket fuel) to United Aircraft (jet engines) are pursuing prosperity with a diversity of projects. Nine allied countries fly Northrop Corp.'s hot twin-jet F-5 fighter, and the company is developing deep ocean bases for the Navy, building three broadcasting stations in Ethiopia, and teaching budgetary accounting to the Nicaraguan government. Comsat has just placed a $35 million order for 24 satellites with Cleveland-based TRW Inc. Martin Marietta last month won the first production contract, for $12,085,430, for the Walleye glide bomb...
Died. Roy Claire Ingersoll, 81, former president (1950-56) and chairman (1954-61) of Chicago's Borg-Warner Corp., who took the conservative old auto-parts and appliance maker into such varied fields as aerospace and oil-drilling gear, thereby nearly doubling sales to $585 million by 1961, when his son Robert took over the top job; of cancer; in Winnetka...