Word: greatamerica
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...handful of communal farmers were the only inhabitants of the 120-acre area of thicket and coconut groves 20 miles south of Mexico's swank Acapulco resort on the Pacific. Then in 1968, Dallas multimillionaire Troy V. (for Victor) Post, newly enriched by the sale of his Greatamerica Corp. to Ling-Temco-Vought for $500 million, brought his genius and fortune to bear on the wasteland. Before long he had transformed it into an earthly paradise, a resort complete with a luxury hotel and detached villas, two of the world's best golf courses, an Olympic-size swimming...
...only emphasized LTV's mounting difficulties. Early this year Troy V. Post, a Dallas insurance millionaire and longtime patron of Ling's, began agitating for a radical shake-up in the conglomerate. A collector of antique clocks as well as modern corporations, Post merged his holding company, Greatamerica Corp., with LTV in 1968. In return for their shares, Greatamerica stockholders got a package of LTV debentures and stock warrants; but each $1,000 debenture is now worth only $150. LTV's stock plunged from around $100 a share at the time of the acquisition...
...million in sales last year. And this year "the Ling Dynasty," as L-T-V is sometimes called, has loomed even larger. In March a surprise Ling tender offer hauled Chicago's Wilson & Co. into the fold. Early this month, Ling announced a plan to take over Greatamerica Corp., the Dallas-based bank, insurance and airline (Braniff) combine controlled by his longtime ally, Troy Post. If Ling could take Allis-Chalmers in hand L-T-V bid fair to quickly become a $3 billion company...
...rebuffed a tender takeover attempt by Genesco, Maxey Jarman's shoe-and-clothing combine, after two court fights and a bitter exchange of public recriminations. Most often, the best defense is to reach for a friendlier hand. Battling a tender takeover by Texan Troy V. Post's Greatamerica Corp., an insurance-banking-airline combine, Cleveland's chemical and paint-making Glidden Co. last month hurriedly negotiated a merger with SCM Corp. On top of that, Glidden won a temporary court order blocking the tender, withdrawing that suit only after Greatamerica agreed to let Glidden buy back most...
...Greatamerica Corp., a Dallas-based insurance and banking combine controlling assets of more than $2 billion, which blandly described its spectacular 1964 Braniff Airways takeover as "a limited departure from our general goals," suddenly departed again-much to the shock of Cleveland's Glidden Co. Without warning, Glidden was hit with a Greatamerica tender seeking to buy 54% of Glidden's stock for $30 a share, or $107 million all told. Texan Troy V. Post, Greatamerica's president, was not saying why he wanted the comfortably prosperous (1966 sales: $352 million) food, chemical and paint company...