Word: stocked
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Dates: during 1960-1969
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...current at his Dallas headquarters, Allis-Chalmers had long been targeted as "Company X." Ling liked the way Allis-Chalmers products were "tied to the growth of the economy." The company also has a classic vulnerability to takeover attempts: its officers and directors hold less than 4% of its stock, which is a very small base from which to try to fight an attractive tender offer. Ling himself was in Milwaukee for a quiet look-see in July, and two weeks ago he moved in again...
...suite at the downtown Pfister Hotel than Ling began his performance. Instead of the Big Man from Big D, Jim Ling played the visiting Rotarian. In a telegram to Allis-Chalmers' board, he offered to pay roughly $45 a share for 51% of the company's common stock-then trading at about $35 -if the board would give its O.K. Such politeness hardly suggested a Texas raider, and Ling himself soon ventured out to win the heart and mind of Milwaukee. He phoned Allis-Chalmers directors, then took Roscoe G. Haynie, formerly president of Wilson...
...with a blunt rejection of the L-T-V offer, announced that "shareholders will be far better served" by a possible merger in the works with General Dynamics. Ling, back in Dallas by now, was unfazed. He merely uncorked "Plan B"-a new offer to buy all of the stock for a mix of cash plus two classes of L-T-V shares worth, by LTV's estimate, around $55 per share of Allis-Chalmers' common. Moreover, he promised Stevenson and six other directors spots on LTV's board, said that Allis-Chalmers could retain "existing management...
...figured, was boxed in and liable to all sorts of stockholder suits if it held out. Thumbs Down. Once again the Allis-Chalmers board retired to consider the offer. And once again it emerged with thumbs down. Stevenson cited doubts about the "realizable value" of the stock that L-T-V was offering, pointed again to the talks with his so far silent ally, General Dynamics. This time Allis-Chalmers had more vocal support. Obviously pulling for the home team was Thomas F. Nelson, the Wisconsin State securities division director. On the grounds that L-T-V had not registered...
...Rite-Kit would die." So how about Christmas? It should survive eternally. Katz therefore took his earnings from Rite-Kit, set up Paper-craft. He was willing to innovate; among other things, he helped pioneer the change from flat-folded Christmas wrappings to those sold by the roll. His stock in trade is the traditional design -Santa Claus, the Christmas tree, Donner, Blitzen, etc. This has helped him to become the main supplier of Christmas wrapping paper to tradition-minded giants like Sears, Roebuck...