Word: willful
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Dates: during 1950-1959
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STUDEBAKER-PACKARD merger with Oliver Corp. will bring S-P into the farm-equipment business. S-P proposes to buy Oliver for $83 million, giving Oliver stockholders 7/10 of a share of Studebaker-Packard for every share of Oliver, plus $15 per share in cash.
ALLEGHANY FIGHT is heading for showdown after compromise attempts failed. Chairman Allan P. Kirby has withdrawn offer to give Boston Financier Abraham Sonnabend a seat on Allegheny's board, will not extend a second otter to buy 200,000 shares of stock claimed by Sonnabend, and challenges him to...
MILITARY PROCUREMENT will be drastically changed after Jan. 1. The Army will buy all general supplies for the three military services, and the Navy will purchase all industrial materiel.
BRANCH BANKING GROWTH in California has forced famed old Wells Fargo Bank (13 branches) to merge with the bigger American Trust Co. (102 branches). Wells Fargo-American Trust Co. will be eleventh biggest bank in U.S., with deposits of $2.3 billion.
AFRICAN WILDCATTING will be started by Gulf Oil. Gulf has made deal with the Spanish government to spend $7,750,000 seeking oil in Spanish Guinea in the next six years.