TYCOONS: Big Man on the Big Board

Texas Oilman Clint W. Murchison, who likes nothing better than a big, complicated deal, last week stepped into a real brain-twister. In the process, the big wheeler-dealer hoped to get his first listing on the New York Stock Exchange.

In Pittsburgh, the money-losing (first-half loss: $414,511) Follansbee Steel Corp. announced a two-way deal to dispose of both its corporate shell (i.e., big-board listing and cash) and its physical assets to two separate groups, one headed by Murchison and the other by Manhattan Machine-Tool Maker Frederick W. Richmond. For some $9,000,000 cash, Richmond...

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