Word: mergers
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Dates: during 1950-1959
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...RAILWAY MERGER of profitable 1,800-mile Central of Georgia into 5,100-mile St. Louis-San Francisco Railway is being sidetracked by ICC. Examiner found that Frisco acted unlawfully in buying up 56.2% of Central's voting stock for $17 million, because it did not get prior ICC permission. If full ICC board approves, Frisco will be forced to surrender control of Central to triumvirate of Illinois Central, Seaboard, Frisco...
...University has recently been examining, in one from or another, some serious suggestions that Harvard contribute to the Great Life Process. These particular proposals seek neither a total merger with the Radcliffe administration nor an extension of parietal hours. They maintain, instead, that tall oaks from little acorns grow and that Harvard, alone or with other colleges, should drop a little acorn somewhere out West...
...PAPER MERGER of Long-Bell lumber empire with huge International Paper Co. is being challenged by Federal Trade Commission. FTC complains International is already world's biggest papermaker (1955 sales: almost $800 million), would lessen competition, tend to monopoly in Western states by adding Long-Bell, which is second largest lumber producer in Pacific-Northwest, one of top U.S. plywood producers. But deal, with International paying $117 million in stock for Long-Bell, can be halted only if FTC hearing next February produces stop order...
...sales to $108,600,000. Said Mallon: "When we buy a company, we have to consider if the company would be better off in the Dresser family. Would Dresser itself be better, not just bigger, for having added it? Unless two and two make five, nobody gains by the merger...
...AIRCRAFT MERGER will put Northrop Aircraft, Inc. in helicopter business if talks with Pennsylvania's Vertol Aircraft Corp. succeed. Northrop wants to swap two shares of stock for one (542,100 shares outstanding) of Vertol, add Vertol's growing (1955 sales: $58 million) helicopter business to its F89 interceptor and Snark guided-missile production...