Word: thorntons
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Dates: during 1960-1969
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...management right? 3) Is the price right? One company that seemed made to measure was well-managed and profitable Diebold, Inc., the nation's largest manufacturer of banking equipment, with 1965 sales of $77 million from safes, depositories, pneumatic tubes, etc. Last week, after Litton Chairman Charles B. Thornton and Diebold President Raymond Koontz agreed on a swap of stock worth about $93 million, Litton announced a "preliminary" deal to absorb Diebold...
...Thornton anticipates a big expansion in the banking business; with Diebold locked in, a Litton salesman will be able to outfit a whole bank, from typewriter to vault. For its part, Diebold expects to use Litton's broad technology and fat treasury to expand. Under the terms of the deal, Litton will not have to dilute its common stock; it plans to exchange 1,118,000 "participating preference" shares for Diebold's 2,601,000 common shares. Though the preference shares are convertible into Litton common on a one-for-one basis, Diebold investors will be induced...
...continues to expand in many other fields. Last week it bought the Institute of Computer Management, a school for computer programmers-of which Litton needs a considerable number. It is also examining 40 to 50 vastly varied firms, including Wilson Marine Transit and other Great Lakes shipping lines. Says Thornton: "We never sit still-before or after a merger...
...other two twirlers who are very much in the picture are sophomore Bob Lincoln and junior Paul Thornton, who pitched three innings apiece in Harvard's 1-0 shutout of Florida Southern last Thursday...
...fifth polished off Florida Southern on April 6, 3-3. A day later, Jim McCandlish, Bob Lincoln, and Paul Thornton pitched three innings each in a tight 1-0 shutout as the Crimson swept the Florida Southern series...