Even old Henry Ford, accustomed as he was to thinking big, would have been impressed by his grandson's latest feat. In one of the largest industrial mergers in U.S. history, Ford Motor Co. last week proposed to buy outright control of Philadelphia's Philco Corp. Terms: one share of Ford for each 4Ā½ shares of Philco common, $101.50 in Ford common (plus cash equal to accrued dividends) for each share of Philco preferred. Estimated cost to Ford: $110 to $120 million.
Provided Justice Department trustbusters do not interveneĀFord did not feel them out...
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