Word: merger
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Dates: during 1950-1959
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DEPARTMENT-STORE MERGER will push the Associated Dry Goods chain (1954 sales: $154.4 million) out to the West Coast. Associated, which now owns Manhattan's Lord & Taylor plus stores in Buffalo, Newark, Minneapolis, Baltimore and Louisville, will take over Southern California's J. W. Robinson Co. stores in a cash and stock deal...
...Oscar A. Benson of Minneapolis for his second four-year term as president. Hottest issue of the convention was a proposal made by the United Lutheran Church in America (membership: 2,061,004) that Augustana join with U.L.C.A. in inviting "all Lutheran Church bodies to participate in merger discussions looking toward organic union." The synod voted overwhelmingly to accept...
...AIRCRAFT MERGER TALK between Lockheed and Bell has pushed their stocks up on the New York Stock Exchange. Though both companies say that nothing is imminent, the deal would be a shrewd diversification move for both: Lockheed makes chiefly fixed-wing planes, while Bell is hip-deep in rocket engines, guided missiles, helicopters...
...COAL MERGER between Chicago's Peabody Coal Co. and the Sinclair group of coal companies will form the nation's second biggest commercial producer, right behind the giant Pittsburgh Consolidation Coal Co. Peabody will get the Sinclair group for $34 million, exchange its stock for stock of the eight companies making up the combine. Joint sales: some 22 million tons of bituminous coal annually v. 25 million tons for Pittsburgh Consolidation...
...MERGER CURBS are in the wind at the Federal Trade Commission. Chairman Edward F. Howrey is considering asking Congress for new powers to require all corporations to file preliminary merger plans with the Commission. If the merger appears to violate the Clayton anti-trust act, the Commission will issue a stop-order, pending a court trial...