Word: merger
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Dates: during 1950-1959
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...BOWLING MERGER is in the works between Brunswick-Balke-Collender, biggest in the field, and Detroit's Murray Corp., which recently got out of the auto-body business. Brunswick has developed an automatic pin setter, and Murray Corp. wants to buy control of the company to make...
OLIN MATHIESON CHEMICAL Corp., fifth biggest in the U.S. (1954 sales: $450 million), will soon get into the sodium phosphate (used in detergents) field if a merger deal works out. Olin is dickering to take over phosphatemaker Blockson Chemical Co. (1954 sales: $29 million), possibly by acquiring a controlling interest in 1,000,000 shares (of a total 1,500,000 outstanding) of Blockson stock owned by President Louis Block and his family...
...customers over the world the Chase Manhattan Bank last week printed 125,000 blotters showing a cartoon of two honeymooners driving off in a car tagged, "Just Merged!" It was the bank's way of telling the public that the merger of the Chase National Bank (No. 3 in the U.S.) and the Bank of the Manhattan Co. (No. 15) had the official blessing of stockholders and the New York State superintendent of banks. Thus Chase Manhattan, with $7.5 billion in resources, became the biggest bank in New York City and second biggest in the U.S. (after California...
Last week another New York City bank completed a merger. National City Bank of New York ($6.3 billion in resources) took over the $713 million First National Bank, changed its name to the First National City Bank of New York, thus became the nation's third biggest...
...Cullman Brothers, Inc., director and chairman of the executive committee of Philip Morris & Co., Ltd., Inc.; in Manhattan. Cullman added Benson & Hedges to the family interests in 1941, built up B. & H.'s Parliament brand into the first nationally known filter cigarette. In 1953 he negotiated a merger with Philip Morris...