Mergers: Struggle for Sinclair

Acquisitive as his company is, President David N. Judelson has insisted that Gulf & Western Industries wanted no part of any corporation "where the management doesn't welcome our entrance." On that basis, Gulf & Western agreed last month to sell its 33% interest in Allis-Chalmers Manufacturing Co., which had resisted the very idea of a merger. That done, Gulf & Western promptly showed that its policy can change along with the prize. Last week the company was involved in a struggle to acquire Sinclair Oil, which vowed to "vigorously oppose" the move...

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