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Northrop to Acquire Hallicrafters Assets in Exchange Deal
Northrop and Hallicrafters shareholders approve a plan where Hallicrafters assets are exchanged for Northrop preferred stock. The deal guarantees $1.45 annual dividends, redemption after 1971 at $35, with conversion into Northrop common after 1969 within set price bounds. The exchange values roughly 8.1 Hallicrafters shares per Northrop preferred and 5.6 Hallicrafters shares per Northrop share for public holders.
MENTIONED IN THIS ARTICLE
Hawthorne, Calif
Northrop Corporation
Hallicrafters Company
Northrop
Northrop Common
Hallicrafters
Halligan
Chicago