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ATandT stock sale drives market to new highs amid growth plan
AT and T offered shareholders the right to buy 12.25 million shares at $100 each, 46 below market, with one new share for every 20 held. NYSE traded 3.375 million shares as AT&T stock hit a new high and the market rose to a record. Proceeds fund a $3.25 billion modernization program for 1964. Also, satellite bids emerged from multiple firms including AT&T and RCA.
MENTIONED IN THIS ARTICLE
Ameri Can: Telephone, & Telegraph Co
New York Stock Exchange
American Telephone
At&t
Communications Satellite Corp
Comepanies
At&t. and
Radio Corp. of ‘America
Thompson Ramo Woolebridge, Inc
International Telephone & Telegraph Corp