When Phelps Dodge Corp. set out with cash in its pockets to woo and master rich, independent United Verde Copper Co. of Arizona (TIME, Feb. 18), most people thought it was the only suitor. Last week it was learned that there was another. American Smelting & Refining, which Simon Guggenheim took over from his brother Daniel in 1919 and built into one of the world's biggest non-ferrous metal smelters & refiners, had bought a big block of stock in United Verde earlier than Phelps Dodge. Last week in Manhattan the two suitors rushed to...
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