Word: murchison
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Dates: during 1960-1969
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...would return. Last week it was clear that Kirby was on his way to regaining control of Alleghany, a holding company that controls not only the giant New York Central but Minneapolis' Investors Diversified Services, the nation's largest mutual fund complex (assets: $4.1 billion). For John Murchison, 41, and his brother Clint Jr., 39, the Texas wheeler-dealers who unseated Kirby, Alleghany and Kirby had proved too much to handle. Their relief at getting out balanced any regrets that they had about losing...
Against a Brick Wall. Kirby, who owns 35% of Alleghany shares, blocked the Murchisons' plans at every turn. Last December, explaining that "I'm tired of hitting my head against a brick wall," John Murchison sold a huge block of the Murchison shares to Minneapolis Merchant Berlin Gamble, 65, who then replaced John as Alleghany president and tried to make peace with Kirby. Kirby would have none of it. Caught in the middle, Gamble had no place to go but out, so he agreed to sell his 1,500,000 shares to Murray Lincoln, the president of Nationwide...
...profitless Handridge Oil Corp., which was controlled by Chairman Guterma and Las Vegas Gamblers Samuel Garfield and Irving Pasternak. Terms: 575,000 new shares of United Dye, worth $18 million, for 575,000 shares of Handridge, whose assets had been bought from Texas Wheeler-Dealers John and Clint Murchison Jr. for a mere $519,000. Remarkably, this deal was approved with a minimum of investigation by the New York Stock Exchange...
...holdings, Post created a company whose title is fitted to his horizons: Greatamerica Corp. Its assets of $900 million make it the U.S.'s biggest life insurance holding company. Currently, it embraces American Life, Franklin Life, Gulf Life (whose control Post bought from Fellow Texans Clint and John Murchison for $17.5 million) and a company with the lapel-clutching name of Amicable Life...
...Onto the board of New York's embattled Alleghany Corp. went Bertin Clyde Gamble, 64, the ex-Minnesota farm boy who heads the $140 million-a-year Gamble-Skogmo merchandising chain. Gamble, who recently bought 1,500,000 shares of Alleghany stock from Texas wheeler-dealers John Murchison and his brother Clint Jr., could yet emerge as the big winner in the feud between the Murchisons and New Jersey Financier Allan P. Kirby, who still owns 33% of Alleghany's common. Like Kirby and the Murchisons, Gamble is interested in Alleghany because it owns 47% of Minneapolis...