Business: Bid and Battle for a Publisher

With a hoard of cash, American Express aims at McGraw-Hill

In the great takeover race of the past few years, American Express has been left at the starting gate. The financial and travel conglomerate has made offers for Philadelphia Life Insurance Co., Walt Disney Productions and Book-of-the-Month Club, only to be turned down or outbid. It has also sounded out others but received a polite no. Amexco's young, aggressive management is not about to give up. Faced with heating competition for its dominance of credit cards and traveler's checks, the company is looking for...

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