Word: mergers
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Dates: during 1970-1979
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...Merger with National nearer
...merger bid is approved, it has enough stock to take immediate control of the company without having to negotiate with other shareholders. Despite its majority holdings, Pan Am, which paid $42 a share, or about $186 million, for the stock, does not control National. Under a CAB dictate, all the contenders must hold their National shares in a nonvoting trust. In addition, Pan Am still has several important hurdles to clear. For example, the CAB must still give Pan Am approval after consulting with the Justice Department about whether the merger violates antitrust laws. Finally, the merger decision must...
...Carter rejected the recommendation. Instead, he gave the route to Dallas-based Braniff Airways in what some critics thought was a blatant political bid for support of his energy program by Texas Congressmen. In short, though Pan Am's position is substantially strengthened by its majority holding, its merger with National is not yet guaranteed...
Formed by a small group of employees after the Three Mile Island accident in April, UCAN has expanded to include students and faculty, and may effect a merger with the Clamshell Alliance, a national antinuclear coalition, this fall, Wattie Taylor, a planning officer for the University and active UCAN member, said yesterday...
...merger proposal is likely to prevail and receive final approval from the White House. The international carrier has routes that dovetail neatly with National's predominantly domestic runs and would probably not encounter antitrust objections...