Word: swapping
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...Allen's overtures, began dickering with two other prospective part ners. Undeterred, Allen coolly bought up its stock on the open market, by last February had a commanding 36% interest. The battle of Bunker Hill over, shareholders of the two companies last week approved a $60 million stock swap that made the Idaho company a subsidiary of Gulf Resources...
...cafeteria that thinks like a conglomerate. Over the years, Morrison's has branched into fields ranging from coffeemaking to insurance, with the result that noncafeteria operations accounted for 27% of last year's profits of $1,885,-000. This week, in a $7,600,000 stock-swap deal, the company takes over Memphis-based Admiral Benbow Inn, Inc., which operates a chain of 15 restaurants and ten motels...
City's big stroke was the tentative agreement to acquire Allis-Chalmers. If the stock-swap deal, worth some $366 million at current prices, comes off as planned, one of the nation's longest-running merger dramas will come to an end. Since last summer, the huge farm-and industrial-equipment maker has spurned the courtship of Dallas' LingTemco-Vought, been dropped by General Dynamics and forcefully wrenched from a third merger prospect, Signal Oil. That, reportedly, was the work of Kleiner, Bell & Co., a Beverly Hills brokerage firm, which holds some 15% of Allis-Chalmers stock...
Others see him as more of a Mephisto, who is intent on denying either major challenger a majority of the electoral vote. He could then swap his support for a "covenant"-as he calls it-with the candidate who agrees to advance his policies. Besides the predictable Southern vote, Wallace hopes to get a big chunk of the Goldwater Republican and dissident Democratic vote in the North. Historically, the odds are against his achieving the goal he seeks; only twice has an election been deadlocked and decided by the U.S. House of Representatives. The last: in 1824, when John Quincy...
After German setbacks in early 1943, Hitler offered Stalin a deal to swap Yakov, who had resisted Nazi blandishments to defect to the German cause, for the German field marshal who surrendered at Stalingrad. Stalin turned down the proposal, replying: "You have in your hands not only my son Yakov but millions of my sons. Either you free them all or my son will share their fate." According to his Russian cellmate, it was the news that his father had refused to ransom him that drove Yakov to despair and his suicidal attempt to escape...