Word: mergers
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Dates: during 1950-1959
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...Merger of Ideas. Heritage was started by Publisher James Parton, 42, onetime TIME, Inc. and New York Herald Tribune staffer, in collaboration with the Society of American Historians and the American Association for State and Local History. Both the groups had consulted Parton, a publishing consultant, about a history periodical. He persuaded them to pool their learning and capital, helped them raise $68.000 to get started. They decided to accept no advertising, sell single copies only through bookstores, put their product in hard covers...
...Roebuck & Co. On the last day of trading, Sears's directors announced a three-for-one stock split and a dividend boost; in seven minutes Sears stock shot up 6½ points to 117, nearly 43 points above the year's low. In chemicals, stockholders approved a merger between Lion Oil Co. and Monsanto Chemical Co., sent the big chemical company up 2¼ points to 50 ⅜ In autos, giant General Motors jumped | of a point to 143⅞ when its stockholders put final approval on the-three-for-one stock split announced two months ago. Chrysler...
...stock was selling for under $40 when the Goodkind group started to buy. Thus Colt's was forced to pay out $6,500,000 to buy out the Goodkind group and others. Colt's tried to diversify, but was unable to recover and looked around for merger possibilities. Colt's directors approached Silberstein, and he offered $7,200,000 for the company (through an exchange of Colt's stock for shares in Silberstein's Penn-Texas). By the deal, Silberstein gets a cash reserve of more than...
...COAL GIANT will be created by the merger of Cyrus Eaton's West Kentucky Coal Co. with the Nashville Coal Co. West Kentucky will pay $16 million for Nashville, thus become the nation's No. 3 independent coal producer after Pittsburgh Consolidation and Peabody Coal...
Deal's Off. In Beckley, W. Va., Moonshiner Major Lilly hailed a truck belonging to another home whisky brewer, wondered aloud if the driver's boss would be interested in a profitable business merger, was arrested on the spot by the driver, a Treasury agent, who was taking the truck to town to impound...