Word: mergered
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Dates: during 1920-1929
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Insistent has been the rumor of a merger between Radio Corp. of America and Western Union Telegraph Co. Presidents of both companies have admitted "conversations." denied merger plans. Last week it became apparent that at least one current merger denial was supported by the facts. Abruptly, R.C.A. threw down the gage of battle to Western Union and announced the birth of R.C.A. Communications, Inc., to compete directly with U.S. telegraph companies...
...Banking mergers usually proceed through a long period of surmise, rumor and denial until their final announcement is purely a formality. Sudden, unexpected, however, was last-week's announcement that Bank of America N.A. and Bancamerica, its investment company, were to consolidate with the famed private banking house of Blair & Co. Never before in Manhattan* had a commercial bank merged with an investment bank. That Bank of America was contemplating a merger was common knowledge, but that Blair & Co. would constitute the other half of the combination was indeed a surprise...
Central figures in the merger are Amadeo Peter Giannini (who last year secured control of Bank of America and made his brother Attilio Giannini chairman of its board) and Elisha Walker, leader of Blair & Co. With the acquisition of Blair & Co., Mr. Giannini has given his Bank of America a potent investment banking organization that will secure him an entrance into many an investment syndicate that Bancamerica does not reach. Sensational has been Blair & Co.'s success in recent years, its oil operations having culminated in the organization of the recently formed Petroleum Corp., $100,000,000 oil investment...
Prophets immediately linked Blair, Bank of America and Chase National in a grand merger. But there were no indications whatever that Chase's potent Albert Wiggin contemplated the loss of his identity...
...Merger of Harris Trust & Savings Bank with N.W. Harris & Co., both of Chicago, affords an extra-Manhattan precedent...