Word: perlman
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...Streeters doubted whether the Central offer was good enough to gain control of the B. & O. But it seemed good enough to block the C. & O.'s effort to get 80% of the B. & O. stock-and blocking the C. & O. is New York Central President Alfred E. Perlman's immediate objective. If a major proxy fight ensues, the much-wooed B. & O. stockholders will be in a position to pick and choose-or to force the Central and C. & O. to talk compromise terms with one another. Railroadmen felt that the two competitors might not really...
...hustle. The C. & O. has already hired Merrill Lynch, Pierce, Fenner & Smith to solicit B. & O. stockholders to accept its offer. The C. & O. will exchange one share of its common (worth about $63) for each if shares of B. & O. common or each share of B. & O. preferred. Perlman said his road is in a position "to make a better offer...
...held by Swiss banking interests, and the better growth possibilities of the Central, Wall Street believes that it will be hard for the C. & O. to acquire the 80% it needs for a tax-free stock trade. It would be especially difficult if the Central board goes along with Perlman's view that about...
...stock should be bought by interests friendly to the Central. Perlman says all he wants is an equal interest with...
...Perlman may have a hard time getting the C. & O. to accept him. In its application to the ICC to merge with...