Word: mergers
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Dates: during 1970-1979
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...women at Harvard and of Harvard in this sexist society is not merely extrapolation from disconnected experiences. It is consciously taught to us by our "teachers," our predecessors. This year the idea of female inferiority was more clearly articulated than ever before, chiefly because of the issues of merger of Harvard and Radcliffe and equal enrollment of women and men. President Pusey said that we could not have equal enrollment because of our duty to the nation to provide leaders. Last Fall, Dean Watson told me that I was so enthusiastic about merger because I didn't realize how much...
Though the trustbusters are tough, money is tight and stock prices have crashed, the corporate merger movement is far from crippled. There were 2,552 merger announcements in this year's first half, only 9% fewer than during the first six months of 1969. A new obstacle to future mergers, however, has been raised by the top rule-making body of the nation's accounting profession, the Accounting Principles Board...
...board has adopted some controversial proposals designed to make it difficult for merging companies to show an instant increase in their profits by the stroke of an accountant's pen. The most important reforms apply to a popular method of accounting for mergers known as pooling of interests. In pooling, an acquiring company writes the assets of another firm into its books at their original cost rather than their present value. Many conglomerates have later sold off a portion of such assets at a high price and reported the difference between that and the original cost...
Costs of Goodwill. To the dismay of many acquisition-minded corporations, the accountants also tightened the conditions under which pooling may be used at all. From now on, companies may pool their assets only if the common shareholders of the smaller firm in a merger get at least a 10% holding in the merged company. Nor will merging firms be permitted to pool if the combination involves confusing packages of securities like convertible preferred stocks or warrants...
...London investment banking house of S.G. Warburg and four Eu~-ropean banks to form European Hotel Corp. The combine plans $50 million worth of hotels for the neglected low-price end of the market in London, Paris, Rome, Frankfurt, Munich and Zurich. The American challenge last month prompted a merger by two of Britain's hotel giants, Forte's and Trust Houses, into one of Europe's largest operations Complains Chairman Charles Forte: 'Too many people are dashing into the hotel business thinking it's easy money. They poach our top-class men and damage...