Farm Equipment - White tried to buyout Allis?

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White tried to buyout Allis?

Printed From: Unofficial Allis
Category: Allis Chalmers
Forum Name: Farm Equipment
Forum Description: everything about Allis-Chalmers farm equipment
URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=11913
Printed Date: 30 Jan 2025 at 2:39am
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Topic: White tried to buyout Allis?

Posted By: Austin(WI)
Subject: White tried to buyout Allis?
Date Posted: 04 May 2010 at 11:09am

I was reading in old news clippings on google that White had attempted to buy out Allis-Chalmers back in the late 60's early 70's....what was this all about. Never heard about this.

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"Better By Design"

Replies:

Posted By: DougG
Date Posted: 04 May 2010 at 4:56pm

Austin, you need to get the book- An Industrial Heritage- its a book on ALLIS CHALMERS explaining the company as a whole ; from the beginning to 1977; in the late 60,s AC was a good company to own as they had alot going on and were profitable ; a few other companies tried to take them over by the stock buying process ; majority share 51% ;it started in 67 with Ling-Temco-Vought; When AC heard about the take over attempt, they then began talking merger with General Dynamics to kinda shake things up; AC,s board turned down LTV ,s offer and Ltv didnt press the issue because it was thought that the merger had to happen -NOW-and AC was bucking so it would be a long drawn out affair, General Dynamics talk ended as they wouldnt pay what AC stock was worth, but AC was in for a wild ride now as other firms took notice , and it seemed AC would merge with the -right- partner ;then Signal, Oil+Gas and AC talked but it fell through, here are others who explored the takeover - Kleiner, Bell+ Co, City Investing ,then Gulf Western tried to take AC over but AC would only agree to a - friendly- merger ; Gulf Western wanted them and was gonna change it all; Then David Scott came into AC and Scott was,nt about to see ALLIS CHALMERS taken over or merging, The fight was on and Gulf Western gave up to sell there stock to WHITE CONSOLIDATED INDUSTRIES [ I think White Motor Co is the farm equipment manufacters] White Consoladated were the ones who really tried to get ALLIS by takeover in 68 + 69; ALLIS and White were in court, the government was involved, and the the AC annual board meeting were postponed 17 times because of the fight involved, and White had enough shares to vote ; The US Court of Appeals , and Federal Trade Commission was involved and the FTC stopped White from voting ; White still kept there stock for a year then sold them to Solomon Bros and the stock was diviede up to investors ;then in 1970 the merger talk stopped, but ALLIS was in bad shape as it took alot of money to fight all this and they had the best lawyers money could buy ; at a wooping cost !!! Scott got AC on track for a while but we know how it ended; Allis and Deutz actually talked merger of the farm equipment business in 1977 , but they held out to long and lost it all !!!!

Posted By: DougG
Date Posted: 04 May 2010 at 5:13pm

Google White Consolodated Industries - it tells that companies history and White Motors is a part or a branch of this operation; very interesting !!!

Posted By: Sam T-Ga
Date Posted: 04 May 2010 at 5:15pm

After Allis was building the 8000's they were working on a deal to sell them to Massey. Massey had a dealer meeting out west to introduce them to the dealers, the 8000's painted and decaled Massey colors were on trucks at a truck stop out the edge of town and the deal fell through the night before. The trucks went back the West Allis and Massey had a very disappointing meeting for their dealers. They were told they were going to have new line of big tractors and only thing they could show them were the old ones. Sam T-Ga.