Word: mcneilled
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PROXY FIGHT for control of Libby, McNeill & Libby was won by the old management, hands down. Biggest help came from the SEC. In an unusual move, it barred the votes of the independent stockholders group because of "false and misleading statements" and because it did not fully disclose its membership; thus the Libby management's nine-director slate was elected without contest. Meanwhile, the independents filed an appeal to have the ruling set aside...
...Manhattan Financier WALTER W. WEISMANN, 64, chairman of the Aetna Industrial Corp., rocked Chicago's staid, old Libby, McNeill & Libby food-processing firm by claiming that a group of stockholders represented by him owns or controls some 1,500,000 of Libby's 3,600,000 shares of stock. Weismann thought that the company was doing poorly profitwise, asked for changes in the board and a new board chairman. Libby President Charles S. Bridges refused, wrote stockholders that the management was preparing to fight "a raid upon this company." The stockholders' committee that Weismann represented promised...
FROZEN ORANGE-JUICE prices will go up because of the recent cold snap in Florida and pessimism about next year's crop. Two big producers, Birds Eye and Libby, McNeill & Libby, have just boosted wholesale prices 5? per dozen six-oz. cans, and the rest of the industry may follow suit. Retailers are expected to pass on the increase...
...your Jan. 31 "Time Clock," the following item appeared: "Cannery merger may be in the works between Consolidated Foods Corp. and Libby, McNeill & Libby, two of the industry's giants. Combined yearly sales of the two companies, which operate 76 major canneries turning out everything from fish to nuts: $446 million...
...Libby, McNeill & Libby Chicago