Word: swapped
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...Swap...
...Chomping away at his customary cigar. Texaco Inc.'s soft-spoken Chairman Augustus C. Long, 57. prepared to swap $200 million worth of Texaco shares for the TXL Oil Corp.. a crude oil producer with mineral rights on nearly 2.000,000 acres in oil-rich west Texas...
...each Eastern share, now selling at $25.75, American will swap stock and warrants worth $33 at last week's close. American will wind up with 67% of the new company's shares, get 16 seats on the 24-man board...
...history. It broke off coolly polite merger talks with slow-footed Courtaulds, Ltd. (sales: $481 million), Britain's biggest maker of artificial fibers. Faced with stubborn resistance from Courtaulds' board, which is reluctant to be swallowed up, I.C.I, declared a proxy war, publicly offered to swap $560 million worth of its stock for all of Cour taulds' outstanding shares...
...career in the Prudential Insurance Co., knew little about chemicals. But Allied's board decided that the cool, analytical Fisk was the man to put some snap back into their company which for a decade had been falling behind Dow and Monsanto. Last week Fisk announced plans to swap $350 million in Allied stock to acquire Union Texas Natural Gas Corp., a major oil and gas producer whose output will guarantee Allied a supply of crude for its petrochemical business. First venture planned for the merged company: construction of a $40 million to $60 million petrochemical complex near Baton...