Word: mergers
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Dates: during 1930-1939
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...Paper Industry at the country home of Mr. George W. Gair, President of the Robert Gair Co., during July of last year and ending with the totally irrelevant acquirement of the Sefton Manufacturing Corp. by the Container Corp. of America, implied that these events indicated an eventual merger of the Robert Gair Co. with the Container Corp. of America. This forecast is the product of a willing imagination, which undeterred by facts, envisions a "U. S. Steel of paperboard companies" rising upon the foundation of this combine...
...paper had been warned not to mention it: the Robert Gair Co. itself refused to give information about an apparently similar meeting last fall; boxboard men in general would give information only upon receiving TIME's promise that their identities would not be disclosed. TIME mentioned a possible merger between the Robert Gair Co. and the Container Corp. of America because several important boxboard men believe it will eventually happen, some insist negotiations have been begun. The present denial is accepted in good faith...
...happening suddenly. At the beginning of last week there were the "big four" banks: Banca Nazionale di Credito, Credito Italiano, Banca di Roma, Banca Commerciale Italiana. Then one evening Italian businessmen picked up their evening papers, were startled to learn that the first two of these planned a merger, that directors would meet to ratify the terms within four days. Although the banks are said to have conceived of the idea all by themselves, admittedly "encouraging and advising" the merger was the Fascist Government which has promoted many an industrial consolidation...
...Kress. Most of the chain stores in the S. H. Kress system are leased. About 35% of them, consisting of 71 stores in 20 states, are leased from John Franklin Corp. In 1927 S. H. Kress & Co. and John Franklin Corp. discussed a merger. Last week John Franklin Corp. proposed to S. H. Kress & Co. terms by which they could acquire the Franklin properties through an exchange of stock. Since S. H. Kress heads both companies it seems likely the terms will be agreeable...
Nimble financiers can build tremendous companies, but just as great as the problems of organization are those of obtaining capable executives. When Cyrus Stephen Eaton (no steelman) last week announced the final details of the merger between his steel companies, the head of the new Republic Steel Corp. was of course Tom Mercer Girdler whom, three months ago, he snatched from the presidency of Jones & Laughlin Steel (TIME, Nov. 4). Last week Jones & Laughlin announced that a man had been obtained to fill the Girdlerless post of presidency. He is George Gordon Crawford, who has been president of Tennessee Coal...