Word: ince
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Dates: during 1960-1969
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...part of a continuing expansion in the publishing field, Time Inc. last week announced an agreement to purchase Little, Brown & Co., one of the oldest U.S. book publishers. Little, Brown's 64 stockholders will receive 170,000 shares of Time Inc. stock (current value: about $16.5 million) in a tax-free transaction. "We are delighted to be joining forces with so highly respected a firm as Little, Brown," said Time Inc. President James A. Linen. "We have no doubt whatsoever that in its new association with Time Inc., Little, Brown will continue to make increasingly important contributions...
...changes in management planned; Arthur H. Thornhill Jr. will remain as president. Little, Brown will also continue to issue some 35 books a year jointly with the Atlantic Monthly Press, which publishes the Atlantic Monthly magazine. "We are confident," said Thornhill, "that this affiliation with Time Inc. will enable us to expand our publishing operations and meet the increased professional and general demands for materials of all kinds...
...ship built by Ishikawajima-Harima Heavy Industries Co. (IHI), last week had to be eased prematurely down the ways in Yokohama with upper portions of her towering hull unfinished. When completed, the new tanker, made in Japan for the U.S.'s National Bulk Carriers, Inc., will pack an incredible 2.2 million barrels of crude oil on her route from the Persian Gulf to Ireland, via the Cape of Good Hope. By building her, at a cost of $20 million, IHI in fact broke the record it set itself in 1966 with the 209,000-ton Idemitsu Maru...
...boards of 29 companies, and in 1928 launched Goldman Sachs Trading Corp.-a mutual fund which cost its holders close to $300 million when the price plummeted from $232 to $1.75 per share. Catchings resigned, later headed Muzak Corp. and retired last year as president of Concord Fund, Inc...
When two companies agree to merge and then the deal falls through, neither side is likely to be very happy about it. Last week, after International Telephone & Telegraph Corp. called off its proposed get-together with American Broadcasting Companies, Inc., the reaction was not at all usual: sighs of relief were audible in the front offices of both companies...