Word: divested
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Washington's first big salvo against conglomerate corporations came only last month. It was fired by the Justice Department, which announced plans for an antitrust suit to divest Ling-Temco-Vought of its controlling interest in Jones & Laughlin Steel. Last week, "multimarket" companies, as they prefer to be called, quavered again as the Federal Trade Commission took aim at a merger by another big concern, Los Angeles-based Litton Industries...
...securities, including debentures and warrants. Last week the trustbusters threatened to seek an injunction against the tender offer, but the company negotiated an unusual pretrial compromise. Under its terms, LTV will be able to buy up additional stock. Should the Government win its case, however, LTV promised to divest itself entirely of J. & L. shares. Meanwhile, Ling and two of his representatives will resign from J. & L.'s 16-man board...
...modern mythology, like Grass or Berryman, that resonates within the being of a modern person. Part of the unacceptability of the classical myths as metaphor for modern life seems to stem from their very inaccessibility to most people, who are first not scholars, and second, are simply unable to divest themselves of the bewildering multiplicity of systems, of artifical organizations that direct our lives, serve as metaphors for themselves and are extra-human. Bergman reveals those human realities--love, doubt, shame--that have been so sadly buried in complexity, yet in a context comprehensible to any modern person who thinks...
Last week it fell 7¾ points to close at 299¾. Doubtless the legal news will over shadow Wall Street's perennial glamour stock for some time. But there could be a benefit. In the event that IBM has to divest itself of some business, it would do so by creating a new company and distributing shares to IBM stockholders...
...management was running the company, TWA's new president, Charles Tillinghast Jr. (TIME cover, July 22, 1966), engaged in a bit of preemptive warfare. TWA hit Hughes with a suit that asked $115 million in damages (the amount was increased later), and demanded that Hughes be forced to divest himself of his holdings in the airline that he had built from a middling carrier in 1939 to a major airline. Hughes hit back with a countersuit charging that Tillinghast and the lenders were conspiring to dispossess him of his property...