CORPORATIONS: Going Down, Please

For a month the battle between two billion-dollar manufacturing giants raged in boardrooms, courts and newspaper financial columns. Then overnight last week one of the nation's bitterest takeover struggles ended. Otis Elevator Co., the world's leading manufacturer of elevators and escalators, stopped fighting a bid from United Technologies Corp. (formerly United Aircraft), the world's largest builder of aircraft engines, to buy all shares tendered to it by Otis stockholders. By week's end, when the offer expired, United claimed that it had bought more than half of Otis' 8.1 million outstanding common...

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