Word: swap
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Dates: during 1950-1959
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AIRCRAFT MERGER will put Northrop Aircraft, Inc. in helicopter business if talks with Pennsylvania's Vertol Aircraft Corp. succeed. Northrop wants to swap two shares of stock for one (542,100 shares outstanding) of Vertol, add Vertol's growing (1955 sales: $58 million) helicopter business to its F89 interceptor and Snark guided-missile production...
CHEMICAL MERGER will push Union Carbide & Carbon Corp., already one of biggest raw-plastics producers, deeper into consumer fields. In $99 million stock swap, Union Carbide plans to acquire Visking Corp., big producer of cellulose meat casings and polyethylene film (raincoats, containers...
...subject to approval of stockholders) to merge with the American Tractor Corp., which grossed only $5,000,000 last year v. Case's elephantine $95 million, and lists the book value of its stock at a mere $2 a share v. $37 for Case. Yet Case agreed to swap its stock on a basis of one share of American common for one half share of Case common plus one share of preferred stock...
BIGGEST IRON PIPEMAKER, Pittsburgh's A. M. Byers Co. (nine-month net sales: $23 million), will be taken over by Akron's General Tire & Rubber Co., fifth biggest U.S. rubber company. In stock swap after long negotiations, General Tire has acquired about 75% of Byers' stock, will expand production and push it into General's booming plastics business...
...gentleman named Jerzy de Laveaux who lived in the apartment above Mazurkiewicz and possessed, among other things, a 42-lb. solid gold bar, a ten-carat diamond worth $5,000 and perhaps $10.000 in American greenbacks (the standard black-market medium). Mazurkiewicz invited him into the woods to swap currencies, then murdered him and dumped his body in the river...