Word: mergers
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Dates: during 1950-1959
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Harry Ferguson, 69, waspish, Irish-born inventor of farm machinery who once settled a patent suit against Ford out of court for $9,250,000, resigned as board chairman and director of Massey-Harris-Ferguson, Ltd. of Toronto, Canada, which was formed only last October by the merger of Canada's Massey-Harris Co. and a group of Britain's Harry Ferguson companies. Ferguson announced that he will devote himself to "new inventions-outside the agricultural field" (reportedly a cheap "people's car"). James Duncan, 61, president of Massey-Harris-Ferguson, took over the title of board...
FRENCH AUTO MERGER between Simca and Ford of France will result in the biggest privately owned French auto company, topped only by the government-owned Renault works. Under the deal, Simca will acquire Ford's modern operating plant at Poissy, near Paris, continue to make Ford's small Vedette model...
...runs in all weather. The Air Line Pilots Association (A.F.L.) has sent out strike ballots to 3,500 pilots (one-third of the airline total) flying for American, United and Trans World Airlines, says that its members are flying the long runs only "under threat of discharge." THREE-WAY MERGER of American Woolen Co., Textron Inc. and Bachmann Uxbridge Worsted Corp...
...fallen through. Textron, which recently bought 45% (445,000 shares) of American Woolen's stock, blocked the merger because it felt the price of buying Bachmann Uxbridge was too high...
...AIRLINE MERGER between National and Colonial has been okayed by the Civil Aeronautics Board. Though the two lines have not yet started negotiations, CAB, which earlier approved a plan (later vetoed by President Eisenhower) by Eastern to absorb Colonial (TIME, March 8), said that a merger between Colonial and Eastern's rival, National, would be in the public interest...