Corporations: Taking & Offering Stock

Moving its annual meeting into the Southwest for the first time, IBM last week gathered its stockholders in Houston. The news they heard from the world's leading computer maker was more than big enough to suit the occasion. Chairman Thomas J. Watson Jr. first announced that the company is about to split its stock for the tenth time, this time on a 3-2 basis. Moreover, announced Watson, IBM next month will issue another 1,300,000 shares worth $350 million, will give stockholders first opportunity to buy them. The offering will be the largest...

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