Word: mergers
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Dates: during 1950-1959
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...Team. At first glance, the merger is a strange one. For years, Mathieson's chief business has been in basic chemicals, Squibb's in consumer products. But following the lead of American Cyanamid, which is now cashing in on antibiotics, Nichols thinks the Squibb merger makes sense and fits neatly into his aggressive expansion policies...
...boom, White piled up $32 million in profits for the Lackawanna in ten years. He also chalked up a $9,300,000 paper profit on $3,800,000 worth of Nickel Plate Railroad stock he had bought for the railroad in the hope of a merger...
...past ten years, leaders of the Congregational Christian Churches (membership: 1,250,000) have talked about a merger with the Evangelical & Reformed Church (membership: 800,000). But Congregationalists are by definition devoted to the principle of parish autonomy; some of them fear that this principle would be watered down in any union. In 1949 the members of Brooklyn's Cadman Memorial Church went to court over the merger problem, arguing that individual congregations could not be forced to abide by a general church decision. Cadman Memorial is now trying to get the New York state court of appeals...
...Claremont, Calif, one day last week, delegates to the Congregationalists' biennial general council nonetheless met for another discussion of the proposed union. After a debate that lasted far into the night, they voted 964 to 55 "to continue to look forward" to a merger, appointed a committee to work out details with Reformed Church leaders. But they agreed to go slow until the merger argument has been threshed out in the courts...
...Minneapolis, the Evangelical Lutheran Church (membership: 872,000) voted approval of a merger with the other four churches in the American Lutheran Conference (American Lutheran Church, United Evangelical Lutheran Church, Augustana Evangelical Lutheran Church, Lutheran Free Church). Actual union, warned Church President Johan A. Aasgaard, may take a dozen years more...