Word: schoenhofen
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Dates: during 1970-1979
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Most important, perhaps, Marcor Chairman Leo Schoenhofen reacted coolly. In a terse ten-line statement, he said: "Marcor's management is not in a position to reach any judgment regarding the proposal." Marcor was formed in 1968 largely for the purpose of fending off takeover bids. The managements of Montgomery Ward and Container were both fearful of such attempts, so they agreed to merge into a company big enough to be beyond the reach of most takeover types, while keeping the managements separate. The arrangement has worked well: last year, Marcor's sales rose 21% and its profits...
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