Word: stocked
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Dates: during 1960-1969
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...also will sell the group of investors $17.5 million in debentures that are convertible into the common stock of Lytton Financial...
Tempting Bait. Equitable, also headed by Wellman, and Mission need more capital, but neither is large enough to raise it easily. Thus they can use the aid of the Lytton holding company, which, thanks to its listing on the New York Stock Exchange, has readier access to Wall Street money. Even so, Wellman had to offer investors some tempting bait. They will pay substantially less than the current market price for the Lytton stock, which closed last week at $11.50 a share...
...year of mammoth mergers, one of the main events came last September when Rochester's Xerox Corp. and Manhattan-based C.I.T. Financial Corp. announced plans for a union. The deal would have involved a swap of Xerox stock then worth $1.5 billion and created a hefty new conglomerate with assets of $4.5 billion. The agreement was based only on a handshake, but Xerox President C. Peter McColough cheerfully predicted that the merger would provide his company with "a much broader base than we now enjoy, enabling us to accelerate our plans in several fields...
...strong and perhaps decisive negative vote from Wall Street. On the basis of tentative financial terms announced by the two companies in September, Xerox was setting the value of C.I.T. at something like $70 a share-a bit rich, in the view of many securities analysts, for a stock that had been trading at around $45 a share...
...last week Xerox's stock had fallen a drastic 18¼ points since the September announcement, costing the company's investors a paper loss of $400 million and reflecting a widespread notion that a link with solid but unspectacular C.I.T. could only tarnish Xerox as a glittering growth stock. At any rate, there were palpable signs of stockholder relief when the deal was finally dropped. In the first day of trading on the New York Stock Exchange after the announcement, Xerox was bid up 6½ points to $277.25 a share...