Word: mergers
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...said Baronne Alix de Rothschild last week as, in her capacity as mayor of the little Norman village of Reux, she prepared to wed her son David, 31, to Italian Heiress Olimpia Aldobrandini, 18. After the public town-hall ceremony and a religious service, the megamillion merger was to be toasted by the pick of tout Paris, many of them brought to the baronne's cháteau by special train. Solving such problems as whether to serve Pol Roger or Moët et Chandon (solution: serve both) and the arrangement of bushels of country flowers...
...years ago about antitrust cases that came before the Supreme Court, Justice Potter Stewart grumbled: "The sole consistency that I can find is that . . . the Government always wins." His implication was that the high court's liberal majority, then headed by Earl Warren, would strike down any corporate merger that federal trustbusters challenged on any grounds at all. Lately, however, the court, now including four conservative judges appointed by President Nixon, among them Chief Justice Warren Burger, has been shifting to a considerably more permissive view of mergers...
...Enough. The Department of Justice is expected to look into possible antitrust violations. In 1969 John Mitchell, then Attorney General, announced that the department "may very well oppose any merger among the top 200 manufacturing firms or firms of comparable size in other industries." Since Mobil is the seventh largest industrial firm by sales and Marcor the fourth biggest general retailer by assets, a merger between them would seem to fall squarely within the Mitchell guideline...
Issues quite apart from race now divide the two denominations. The Northern church, the 2.8-million-member United Presbyterian Church in the U.S.A., is three times the size of the Southern denomination, the 900,000member Presbyterian Church in the U.S. Many Southerners feel that in a merger they could be swallowed up by the Northerners, who are both less conservative in doctrine and more committed to social action. The reunion plan reflects this liberalism. At their ordination, for example, Southern Presbyterian ministers would no longer be required to accept the Bible as "the infallible rule of faith and practice...
...section has had great success. In 1967 Lazard Partner Stanley De J. Osborne arranged the merger with McDonnell Aircraft that kept Douglas Aircraft from going under; later, Partner Howard S. Kniffin helped Boise Cascade spin off a number of enterprises in mobile homes and chemicals that were doing little for it but lose money. Meyer, still active at 75, last week headed off a threatened proxy fight at the Signal Cos. (shipping, Mack trucks, radio stations, the California Angels baseball team) by getting an Italian investment group to buy a major interest...