ITT Hartford deal remains unsettled after divestments
ITT’s effort to acquire Hartford Fire Insurance Co. faces ongoing issues despite selling five units including Avis to American Express for 120 million. IRS reversed a tax-free exchange ruling, threatening about 17,000 Hartford shareholders with a 35 million capital gains bill, with ITT planning court action and potential shareholder refunds if the IRS decision changes.
MENTIONED IN THIS ARTICLE
Avis
Justice Department
ITT
Ormer Hartford
IRS
Toddlers 2-Pc Cotton Knit Short Sets in Boys and Girls Styles
Lightweight cotton knit two piece short sets for toddlers offered in boys and girls styles. Set includes short sleeve top and matching shorts in assorted colors sized for young children.
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Hartford
New York
International Telephone & Telegraph Corp
Hartford Fire Insurance Co
Department of Justice
American Express Co
Avis, Inc
Internal Revenue Service
Heidi
Dacron
ZePel
McAlpin
New Tor
Brookford Linen
Brookford