Word: temco
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...sharpest corporate skirmishes in memory swirled around Milwaukee last week, as Allis-Chalmers Manufacturing Co. found itself under heavy assault. The battle was joined by James Joseph Ling, 44, chairman of Dallas-based Ling-Temco-Vought, who during a nine-day fight for control of the company had eventually made a tender offer valued at $560 million-one of the biggest ever. But by week's end, staid Allis-Chalmers, which is the area's biggest employer, had delivered L-T-V its first defeat-however temporary-in Ling's long takeover history...
...gain last week. Scurry Rainbow Oil rose $9.50 to $43 on rumors of an ore find and reports (later denied) of a tender offer for the company. National Equipment Rental gained $3.13 to $32.50, and LTV Electrosystems, a separately traded subsidiary of the Big Board's Ling-Temco-Vought, jumped...
Nineteen more showed their wares around the field. Gemini Astronauts Michael Collins and David Scott were there along with the 250-seat DC-8-61, largest passenger jet now in scheduled operation. Experimental craft ranged from Ling-Temco-Vought's V/STOL XC-142 to Martin Marietta's Lifting Body, in which astronauts may some day glide back from orbit. In military aviation, the star of the show was General Dynamics' swing-wing F-lll fighter, flown from the U.S. and shown for the first time abroad. No less anxious to unleash a spectacular were the Russians...
...money for the Wilson acquisition, he went to London-with a chip on his shoulder. Sure that he would be scorned as an American-and a Texan, at that-he told representatives of N. M. Rothschild's famed financial house: "I insist that the track record of Ling-Temco-Vought demands respect. Judge this corporation on that record, and I couldn't care less whether I'm personally liked." Rothschild's got the point. Together with Wall Street's Lehman Bros., the British financiers raised the money for Ling to swing the Wilson deal...
Thus, in a single stroke, Ling-Temco-Vought changed the whole mix of its business. Before, it had sold 70% of its products to the Federal Government, and 30% on the civilian market. With Wilson, it will now be 70% civilian, and 30% Government...