Oil: A Lure for Pure

"We expect 1964 to be a difficult year," admitted Pure Oil Co. President Robert L. Milligan recently. He was more prescient than he suspected. Last week Pure Oil's board faced the difficult question of what to do about an attempt by a group of celebrated outsiders to buy the 50-year-old company for a walloping $700 million. Milligan and his managers are understandably apprehensive. The mechanics of the transaction are intricate, and how many of Pure Oil's present managers would stay on is uncertain.

High-Note Trio. For six months, reports of heavy secret purchases and...

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