Word: murchisons
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PROXY WAR will be fought by Clint Murchison Jr. and his brother John for control of the Alleghany Corp., the holding company that controls the New York Central and Investors Diversified Services, world's largest group of mutual funds (assets: $3 billion). Murchisons were ousted from I.D.S. board by Alleghany forces, but hope to reverse setback by taking over Alleghany in which they control a potential 20% of the outstanding common stock...
From the directors of Investors Diversified Services, the nation's largest group of mutual funds (assets: $3 billion), came a terse announcement: a special meeting of stockholders was going to be convened to remove Clint W. Murchison Jr. and his brother John from the board. The reason for this action, explained the directors of the group, which is controlled by Alleghany Corp., was that the Murchisons refused "to cooperate with the company's finance and law committee...
...Were the Murchisons considering a proxy fight for control of Alleghany Corp.? Said John Murchison last week: "You don't just consider a proxy fight. Either...
...Said he: "I've had experience in road construction and furniture manufacturing, and there's a lot in common between those two and oil. They all use heavy machinery." That seemed to satisfy investors anxious to get in with a possible challenger to oil-rich Clint Murchison. Williams soon collected more than $800,000 from some 100 to 300 investors, much of it from "people my daddy knew...
...badly ailing Capital Airlines last week there was a management shake-up that may well be the first in a series of steps toward merger. Out as general counsel and chairman of Capital's executive committee went Charles Murchison, the line's biggest stockholder (80,532 shares), who had hoped to become boss. In as board chairman went Aviation Trouble-shooter Thomas D. Neelands Jr., 57, longtime member of Capital's board (1948-58) and Wall Street investment banker, who has won a reputation as the man to find the money to save an airline...