r ^c ,M sH/f^v-y/ MERGERS and ACQUISITIONS: 1967-1971 .5^ O s: 1 .<°:x U.S. DEPARTMENT OF COMMERCE If Social and Economic Statistics Administration T BUREAU OF THE CENSUS \ K^ / BUREAU OF THE CENSUS VINCENT P. BARABBA, DIRECTOR Robert L. Hagan, Deputy Director Shirley Kaliek, Acting Associate Director ECONOMIC CENSUSES AND SURVEYS DIVISION Gerald Post, Chief ACKNOWLEDGMENTS This report was completed in the Economic Censuses and Surveys Divi- sion of the Bureau of the Census under the supervision of Thomas A. Thompson, who directed the compilation, tabulation, and final presen- tation of the data. Johnny W. Monaco and Mary E. King contributed significantly in the development of the data in part 1, as did Carol E. Lutz in the editing and analysis of the data in part 2. Debbie S. Barrett and Mildred D. Smith handled the posting of the tables, with assistance from Doris H. Osborne. David Eade, Steven K. Martin, Haydn R. Mearkle, and C. Harvey Monk, Jr. assisted in developing the data in part 1, and Stephan Potemkin of Industry Division provided technical guidance in the development of the data in part 2. David E. Henderson, who has since left the Bureau, was responsible for all publication plan- ning, including preliminary table plans and computer specifications and procedures to be used in developing the data. General staff guidance was provided by Roger Bugenhagen, Assistant Chief of the division. Computer programing was under the supervision of Andrew L. Grieco, Assistant Chief of the division. Herbert S. Isham had primary responsi- bility for the overall design of the computer systems used to generate the data, and Chuck F. Lee was responsible for much of the actual programing. Library of Congress Card No. 72-182372 SUGGESTED CITATION U.S. Bureau of the Census, Mergers and Acquisitions: 1967-1971, ES20(74)-4, U.S. Government Printing Office, Washington, D.C. 20402 1974 For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C, 20402, and U.S. Department of Commerce district offices. Price $5.00 MERGERS and ACQUISITIONS: 1967-1971 Part 1 -Acquisitions by Large Multi-Unit Companies: 1967-1971 Part 2-Acquired Large Manufacturing Establishments: 1968, 1969, 1970 Issued November 1974 U. S. DEPARTMENT OF COMMERCE Frederick B. Dent, Secretary David W. Ferrel, Acting Assistant Secretary '^ for Economic Affairs Social and Economic Statistics Administration ip Edward D. Failor, Administrator BUREAU OF THE CENSUS Vincent P. Barabba, Director Contents Page Introduction 1 STATISTICAL FINDINGS Part 1. Acquisitions by Large Multi-Unit Companies: 1967-1971 3 Tables 1 Selected Statistics for Acquiring Companies and Whole-Company and Partial Acquisitions, by 1967 Industry Category of Acquiring Company, Comparing 1967 Industrial Activities of Acquisitions and Acquiring Companies: 1971 6 2 Selected Statistics for All Acquired Establishments and Establishments of Whole-Company Acquisitions in Each Industry Division in 1967, by 1967 Industry Category of Acquiring Company: 1971 12 3 Employment of Acquiring Companies and Whole-Company and Partial Acquisitions, by 1967 Industry Category of Acquiring Company, Comparing 1967 Industry Categories of Acquisitions and Acquiring ■^ Companies: 1971 28 4 Selected Statistics for Acquiring Companies and Whole-Company and Partial Acquisitions, Cross-Classified by 1967 and 1971 Employment-Size Classes of Acquiring Company: 1971 34 5 Selected Statistics for Whole-Company and Partial Acquisitions, by Establishment 1971 Employment-Size Class and 1967 Industry Division, Comparing 1967 Industrial Activities of Acquisitions and Acquiring Companies: 1971 36 Part 2. Acquired Large Manufacturing Establishments: 1968, 1969, and 1970 39 Tables 1 Selected Statistics for Acquired Large Manufacturing Establishments, by Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970 . . 42 2a Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1968 102 2b Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1969 115 2c Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1970 129 3a Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968 141 3b Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1969 155 3c Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1970 171 Contents — Continued Part 2-Continued Tables 4a Selected Statistics for Large Acquired Manufacturing Establishments in Selected SIC Industries, by the Size Ranking of the Acquiring Company in the Industry: 1968 184 4b Selected Statistics for Large Acquired iVlanufacturing Establishments in Selected SIC Industries, by the Size Ranking of the Acquiring Company in the Industry: 1969 210 4c Selected Statistics for Large Acquired Manufacturing Establishments in Selected SIC Industries, by the Size Ranking of the Acquiring Company in the Industry: 1970 238 APPENDIXES A Technical Notes 265 B Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents 269 C Code Reference List of Manufacturing Industry Combinations Used in Table 1, Part 2, and Their 1967 Census (SIC) Establishment Industry Equivalents 277 D Terms and Concepts 279 Introduction This report on mergers and acquisitions is divided into two parts. Part 1 covers large multi-unit companies (i.e. companies with 2,500 or more employees and more than one establishment) which were within the scope of the 1967 Economic Censuses and which acquired other companies in whole or in part during the period 1968 to 1971. Part 2 covers ownership changes of large manufacturing establishments (i.e. establishments with 250 or more employees) during each of the years 1968, 1969, and 1970. The statistical information contained in this report represents only partial coverage of total domestic merger and acquisition activity during the years in question. For summaries of the findings of this report, see the texts preceding the statistical tables in part 1 and part 2. For technical information concerning the sources and limitations of the data presented in this report, see appendix A. For a glossary of technical expressions, see appendix D. /^ Acquisitions by Large Multi-Unit Companies: 1967-1971 Digitized by tiie Internet Archive in 2012 with funding from LYRASIS IVIembers and Sloan Foundation http://archive.org/details/mergersacquisitiOOunit Acquisitions by Large Multi-Unit Companies: 1967 to 1971 According to the data presented in tables 1-5 of this section, merger and acquisition activity involving large companies during the 1968-71 period was dominated by manufacturing companies. Five hundred and sixty-five of 702 acquiring companies, making up 66 percent of acquiring company establishments and 79 percent of acquiring company employment, were classified in manufacturing. These companies accounted for 78 percent of acquired whole- company employment and 92 percent of partial acquisition employment. On the whole they accounted for 77 percent of all acquired establishments and 80 percent of all acquired employ- ment. These results are closer to those for whole-company acquisi- tions than to those for partial acquisitions because the former accounted for 90 percent of all acquired establishments and 87 percent of all acquired employment. Manufacturing was also the most important activity among acqui- sitions in terms of employment. On the whole, manufacturing establishments made up 24 percent and retail trade establishments 40 percent of all acquired establishments. However, since the acquired manufacturing establishments were larger on the average, 230.1 employees vs. 38.7, they accounted for 60 percent of all acquired employment, with the retail trade establishments account- ing for 17 percent. Retail trade and manufacturing were the only industry divisions in which acquired establishments classified in the same division accounted for a majority of acquired employment. On an employ- ment basis, acquiring companies in manufacturing made 70 percent of their acquisitions among manufacturing establishments, and retail trade acquiring companies made 72 percent of their acquisi- tions among retail trade establishments. In two other divisions, mineral industries and selected services, same-division establish- ments accounted for a plurality of acquired employment. In terms of employment, only 10.5 percent of all acquired estab- lishments were acquired by companies classified in the same enter- prise industry category, and only another 22.6 percent went to companies in other categories having at least one establishment in the same category. By contrast, 55.8 percent of all acquired estab- lishments were acquired by companies having no existing establish- ments in the same category. Considering only establishments of whole-company acquisitions, 9.9 percent went to companies in the same category and 21.8 percent to companies with at least one establishment in the same category, while 57.4 percent went to companies with no establishments in the same category. Establish- ments of partial acquisitions were more closely related to those of their acquiring companies, however, as the corresponding figures for partial acquisitions were 14.6 percent, 27.8 percent, and 45.3 per- cent. Acquired whole companies classified in the same 3-digit industry category as their acquiring companies accounted for only 1 1.8 per- cent of acquired whole-company employment, with acquired com- panies not classified in the same category, but in the same 2-digit major group, accounting for another 9.1 percent. However, 79.1 percent of acquired whole-company employment consisted of acquired companies classified in major groups other than those of their acquiring companies. In the case of partial acquisitions, acquired establishments classified in the same 3-digit category as their acquiring companies again accounted for 14.6 percent of acquired employment, while establishments in other categories within the same 2-digit major group made up 13.2 percent and establishments in other major groups 65.5 percent of the partial acquisition total. Of the 702 large companies making acquisitions during the 1968-71 period, the number having 5,000 or more employees in- creased from 459 in 1967 to 521 in 1971. While at least 31 of the 702 companies had fewer employees in 1971 than in 1967, the increase of 62 in the number having at least 5,000 employees was spread over all size classes in the 5,000-or-more-employees range. The number of acquired establishments and the number of acquired employees per acquiring company both tended to be greater for larger companies than for smaller. For all acquiring companies, the average number of acquired establishments was 25.8 and the aver- age number of acquired employees was 2,336.7, while the overall average number of employees per acquired establishment was 90.5. MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquiring Companies and Whole-Company and Partial Acquisitions, by 1967 Industry Acquiring companies Their 1968-1971 whole-company acquisitions Establishments Establ ishments Establishments in acquiring in s€ condary in wholly Code 1967 enterprise industry category company's 1967 1967 activities new activities of acquiring company Com- ' Estab- Com- Estab- enterprise of acquiring for acquiring lish- Employees lish- Employees category in 1967 company in 1967 company in 1967 panies ments panies ments Estab- Estab- Estab- lish- Employees lish- Employees lish- Employees ments ments ments (a) (b) (c) (d) (e) (f) (g) (h) (i) (J) (k) (1) ALL INDUSTRIES 702 4 2 1 141,014 607 287 16 11,196,208 JJ II HH 2,495 7 5 1 16,305 24 19 3 1,423,521 GG GO EE 1,216 12 12 140,838 FF FF 3,619 2 310,541 CC 8,419 3 3 817,597 EE EE Mineral industries 12A Coal mining 13C Other oil and gas services 14A Nonmetallic minerals mining, n.e.c. 1 304 II 1 2 CC - - 2 CC - - Construction 17 2 996 24 188,444 II 32 1 84 3 6,969 CC 10 1,412 13 2,267 22 3 2,869 CC 15A General building contractors 16B Heavy construction, n.e.c 11 452 133,221 17 28 2,942 4 CC 9 898 12 1,630 17A Plumbing, heating, and air condi t i on inET • .•>..••.•••■.•••••.. 2 227 II 3 42 FF _ _ 1 EE 5 EE 17C Electrical work 1 51 HH 8 8 FF 6 FF 1 CC 1 AA 17H Other special trade contractors... 1 242 II 3 3 EE - - 2 DD 1 CC Manufacturing ■ 565 3 93,182 694 8,863,917 46,188 2,055 13 12,553 148 1,107,138 9,450 303 7 75,676 GG 3,029 4 292,761 DD 6,554 124 614,922 3,795 20A Meatpacking 20B Prepared meats and dressed poultry 1 83 HH - - - - - - - - - 20C Fluid milk 7 2,235 97,070 53 229 17,956 5 504 131 10,287 72 5,741 20D Other dairy products 1 91 HH 1 1 BB - - 1 BB - - 20E Canned fruits and vegetables 3 823 32,836 23 260 5,723 - - 4 CC 245 4,443 20F Other canned and frozen foods 6 2,215 112,270 41 601 24,680 1 DD 25 5,771 503 16,705 20G Prepared feeds for animals and fowls 2 8 985 1,177 JJ 82,908 2 42 347 176 HH 14,726 1 AA 18 2,377 347 141 HH 11,174 20H other grain mill products 201 Bread, cake, and related products 4 1 798 267 42,743 II 14 2 447 4 4,176 CC 2 EE 3 DD 422 2 2,693 CC 20 J Cookies and crackers 20K Sugar 4 488 33,585 21 376 13,934 1 BB 38 GG 293 8,418 20 L Confectionery and related products 3 243 26,372 3 8 FF _ _ 4 EE 3 FF 20M Malt liquors 4 90 17,480 6 24 3,347 _ _ 16 FF 3 FF 20P Bottled soft drinks and flavorings 3 3 2 486 278 507 40,834 17,517 JJ 10 13 6 73 37 152 7,587 2,625 GG 1 2 1 CC BB CC 34 12 FF 1,172 35 12 150 4,928 1,140 GG 20Q 20R Fats and oils ..■ Other food products 21A Tobacco products 7 522 82,139 21 160 14,674 _ _ 16 GG 48 9,864 22A Weaving and finishing mills 20 1,427 333,714 28 51 10,812 3 EE 20 4,090 26 5,888 22B Hosiery mills 4 3 4 4 286 974 99 1,628 47,187 32,891 14,143 80,393 17 8 10 33 127 45 24 135 8,729 3,703 2,845 11,523 4 8 FF 2,816 13 3 57 GG EE 3,011 108 39 15 48 5,012 2,912 2,316 4,861 22E Floor covering mills 22F Yarn and thread mills 23A Men's and boys' suits and coats... 233 Men's and boys' shirts and nightwear 4 3 1 369 262 28 54,968 41,211 HH 25 8 4 89 31 7 12,348 GG EE 5 7 3 FF FF EE 31 19 1 3,904 FF CC 45 5 3 5,571 CC CC 23D Work clothing 23F Blouses and dresses 231 Women's and children's underwear.. 2 129 JJ 11 55 II - - 7 FF 43 HH 23K Miscellaneous apparel and accessories 1 6 FF 1 1 CC 1 CC ~ ~ ~ " 23L Fabricated textile products. n.e.c 1 73 II 1 1 DD - - 1 DD - - 24B Sawmills and planing mills 2 301 JJ 5 23 GG 3 EE 9 FF 4 DD 24C Millwork and related products 2 87 II 1 2 DD - - 2 DD - - 24D Other wood products 2 403 II 8 89 GG - - 60 EE 25 FF 25A Wood household furniture 3 1 42 18 13,627 HH 6 3 8 3 2,067 EE 2 DD 4 FF 4 1 EE CC 25B Upholstered household furniture... 25C Other household furniture 2 183 II 5 8 FF - - 5 FF 2 CC 25D Other furniture and fixtures 2 137 JJ 24 31 GG - - 25 GG 5 FF 26A Pulp, paper, and board 17 2,607 364,401 66 351 47,829 5 GG 109 12,886 171 29,015 26B Paperboard containers and boxes. . . 10 709 72,633 18 36 6,487 9 FF 19 4,184 2 AA 26C Other paper products 4 323 58,909 11 24 3,814 1 EE 7 FF 14 1,437 See footnotes at end of table. MERGERS AND ACQUISITIONS Category of Acquiring Company, Comparing 1967 Industrial Activities of Acquisitions and Acquiring Companies: 1971 Their 1968-1971 whole-comoanv rheir 19.68-1971 partial acquisitions acquisitions — continued Establishments Establishments classified as Establishments Establishments Establishments classified as CAO's and auxil- Establishments CAO's and auxil- in acquiring in secondary in wholly Establ ishments in out-of-census- iaries or as company's 1967 1967 activities new activities in out- of-census- iaries or as manufacturers' scope industries in 1967 manufacturers ' of acquiring scope industries Code sales branches Estab- enterprise for acquiring in 1967 sales branches or sales offices lish- Employees category in 1967 company in 1967 company in 1967 or sales offices in 1967 ments in 1967 Estab- lish- Employees Estab- lish- Employees Estab- lish- Employees Estab- lish- Employees Estab- lish- Employees Estab- lish- Employees Estab- lish- Employees ments ments ments ments ments ments ments (m) (n) (o) (p) (q) (r) (s) (t) (u) (v) (w) C U tfl .— f 1968........ . .. 31.4 56.6 12.0 1969 33.9 50.8 15.4 1970 o 43.3 37,8 18.9 In Table E establishments acquired by manufacturing companies having no establishments in the same industry as that of the acquired establishment are divided into three sets. The set con- sisting of establishments acquired by companies with at least one other establishment in the same 3-digit industry group did not exhibit the decreasing trend shown by the other two sets. Table E Percent of acquired establishments acquired by companies having — ft 3 ft ft - 3 5^ m '^ M en stry, . one t grou s-l +-> ment t gr one jor Year c CD F t CO 2 r w) 43 m IjS XI -H j_, Oi 'i % ^ I— 1 •H ^ -a .H 73 ?, -M 't; •^ -^ o •-^ 1 JD 1 0^ -H 2 2 n! cci i «* (D W 0) t, x) ca ,-< s O 1 All esta othe c •H ■H CCj 01 1968 8.6 11.0 10.8 21.7 20.8 14.8 22.1 1969 18.0 1970 16.6 As indicated in Table F, among establishments acquired by com- panies having at least one establishment in the same industry, there was an increase between 1968 and 1970 in the percentage acquired by companies having no establishments in the same geographic division as that of the acquired establishment. However, among establishments acquired by companies whose manufacturing estab- lishments were all classified in other manufacturing industries, there was no such increase. Also, while among companies having at least one establishment in the same industry there was a year to year decrease in the percentage acquired by companies having at least one establishment in the same state, for companies whose manufac- turing establishments were all in other manufacturing industries there was a small increase in this percentage. Table F Percent of acquired establishments acquired by companies having — At least one estab- lishment in same industry and in — All manufacturing establishments in other industries and at least one in — Year aj -p oj +-> 0) E cd CO Different State, but same geographic division o •H "1 .2 2 I % -a si +-> o 1968.. 1969.. 1970 71.0 68.4 65.5 16.1 20.3 14.7 13.0 11.3 19.8 57.0 56.2 60.6 26.1 24.4 22.6 16.7 19.4 16.8 Finally, Table G shows that there was a regular and marked increase from 1968 to 1970 in the percentage of acquired establish- ments acquired by the 9th through the 20th largest companies in the industry of the acquired establishment. It also shows small decreases in the percentages of acquired establishments acquired by the 8 largest companies in the industry and by companies not among the 20 largest in the industry. Table G Percent of acquired estab- lishme nts acquired by — >> >> Year -M CO Sh ■^ Cd ;h ^ en Sh CO OJ -P through est comp n indust CD CD -P Value added do . . . Beverages : Establishments number . Employees do . . . Payroll $1 ,000 . Shipments .do. . . Value added - . -do . . . Cottonseed oil mills: Establishments number . Employees • do , . , Payroll $1,000. Shipments do . . . Value added do . . ^ Soybean oil mills: Establishments number . Employees do . . , Payroll $1,000, Shipments do. ., Value added do . . Vegetable oil mills, except corn, cottonseed, and soybean: Establishments number Employees do . . Payroll $1,000 Shipments do . . Value added do.. Animal and marine fats and oils: Establishments number Employees do.. Payroll $1,000 Shipments do . . Value added ■ do . . Roasted coffee : Establishments .number Employees .do. . Pay r ol 1 $1 , 000 Shipments do . . Value added ^o . . Shortening, table oils, margarine and other edible fats and oils, n.e.c: Establishments .number Employees do . . Payroll $1,000 Shipments do . . Value added do.. Manufactured ice: Establishments k number Employees .do . . Payroll $1,000 Shipments .....do.. Value added do. , - (NA) 12 - 12,000 3,950 - 76,900 21,275 - 619,600 175,504 - 267,800 71,568 10 (NA) 71 4 588 67,600 39,738 23 526 360,500 223,647 101 447 1,992,000 1,208,191 52 040 906,000 567,168 2 (NA) 6 EE 8,700 6,587 (D) 56,400 41,671' (D) 556,300 378,789 (D) 206,400 160,435 2 INA) 9 FT 6,800 5,825 (D) 43,500 37,873 (D) 318,100 282,627 (D) 187,800 172,556 19 (NA) 149 II 222,900 87,880 (D) 1,612,300 762,047 (D) 10,005,000 4,931,066 (D) 5,186,300 2,681,734 _ (NA) _ - 5,400 - - 27,000 - - 359,500 - - 50,700 - . (NA) 6 _ 7,200 2,257 - 53,500 18,339 - 1,995,100 390,132 ~ 266,600 91,547 (NA) - 1,500 - 10,200 - 232,400 - 34,100 - (NA) 1 13,100 DD 93,200 (D) 511,900 (D) 192,700 (D) (NA) 14 16,700 8 175 131,600 66 862 2,126,400 1,053 846 718,500 412 177 (NA) 18 14,800 7 298 119,100 60 072 ,703,100 760 866 460,300 219 851 (NA) _ 6,300 - 32,300 - 84,500 - 64,800 - (NA) 32.9 27.7 28.3 26.7 (NA) 58.8 60.7 62.6 (NA) 75.7 73.9 68.1 77.7 (NA) 85.7 87.1 88.8 91.9 (NA) 39.4 47.3 49.3 51.7 (NA) 31.3 34.3 19.6 34.3 (NAj (d) (D) (D) (NA) 49.0 50.8 (NA) 49.3 50.4 EE (D) (D) (D) DD (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) DD (D) (D) (D) (NA) (D) (D) (D) (D) (D) (D) (D) (D) 16.7 (D) (D) (D) (D) 0.7 (D) (D) (D) (D) See footnotes at end of table. MERGERS AND ACQUISITIONS 47 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All Large establishments in industry All Large establishments in industry Acquired during 1969 Acquired during 1970 estab- lishments Percent of all estab- lishments ' in industry Percent of all Code Percent Percent of all large estab- lishments (d) + (b) Percent Percent in industry Total estab- lishments (b) + (a) Total of all estab- lishments (d) + (a) Total estab- lishments (b) + (a) Total of all estab- lishments (d) + fa) of all estab- lishments (d) ^ (b) (a) (b) (c) (d) (e) (f) (a) (b) (c) (d) 'e) 'f ) 2063 (NA) 13 (NA) - - - (NA) 16 (NA) - - - 12,900 4,651 35.8 - - - 13,000 5,396 41.8 - - - 86,400 27,507 31.7 - - - 86,700 33,490 38.8 - - - 726,600 228,426 34.1 - - - 669,100 297,119 40.9 - - - 275,100 87,722 37.1 236,700 118,177 43.0 2071 (NA) 70 (NA) 6 (NA ) 8.6 (NA) 64 (NA ) 3 (NA) 4.6 69,400 40,736 60.1 2,260 3.3 5.5 67,800 38,803 55.9 FF (D) 'D) 399,900 238,378 63.5 12,677 3.4 5.3 375,400 247,798 62 .0 (d) ID) fD) 2,276,400 1,274,032 61.5 65,533 3.2 5.1 2,072,000 1,314,241 57.7 (D) (D) (D) 1,089,600 580,600 63.3 33,909 3.7 5.8 917,200 627,565 57.6 (d) (D) (D) 2072 (NA) 7 (NA) 1 ' NA ) 14.3 (NA) 7 (NA) - - - 8,400 6,597 78.5 DD (D) (D) 8,400 6,754 80.4 - - - 63,400 46,515 77.1 (D) (D) (D) 60,300 50,761 80.1 - - - 601,500 437,063 72.1 (D) ;d) (D) 606,500 446,451 74 .2 - - - 216,100 170,961 80.6 (D) (D) (D) 212,100 178,081 82.4 2073 (NA ! 9 (NA) 2 (NA ) 22.2 (NA) 9 (NA ) - - - 6,900 6,263 88.2 FF (D) (D) 7,100 6,156 89.2 - - - 50,900 44,516 89.8 (D) (D) (D) 49,600 45,966 90.3 - - - 407,700 344,836 91.3 (D) (D) (D) 377,900 364,554 89.4 - - - 261,700 226,850 94.1 (D) (D) 'D) 241,000 239,752 91.6 208- fNA) 149 (NA) 12 (NA ) 8.1 (NA) 160 ;na) 6 (NA) 3.8 229,600 87,156 38.4 7,232 3.2 8.3 227,100 90,567 39.4 4,609 2.0 5.1 1,862,500 811,673 47.0 65,798 3.8 8.1 1,726,500 891,481 47.9 44,501 2.4 5.0 12,152,700 5,272,001 47.5 475,341 4.3 9.0 11,090,000 5,716,628 47.0 195,433 1.6 3.4 5,926,600 2,862,194 50.4 245,112 4.3 8.6 5,675,900 3,013,302 50.8 94,594 1.6 3.1 2091 (NA) - - - - (NA) - - - - - 4,800 - ^ - - 5,700 - - - - - 28,000 - - - - 31,100 _ - - - - 387,800 - - - - - 375,800 - - - - 84,200 62,400 2092 (NA) 5 (NA) - - - (NA) 6 (NA) - - 8,000 1,970 27.4 - - - 7,200 2,328 29.1 - - - 67,500 15,951 28.1 - - - 56,700 21,854 32.4 - - - 2,609,900 283,282 14.3 - ,- - 1,983,200 392,571 15.0 - - - 381,200 47,426 18.8 252,900 87,949 23.1 2093 (NA) - - _ - ~ (NA)' - - - - - 1,300 - - - -■ - 1,600 - - - - - 13,200 - - - - - 10,500 - - - - - 237,500 - - - - - 220,200 - - - - - 45,900 35,400 2094 (NA) 1 (NA) - - - (NA ) - - - - 12,800 DD (D) - - - 13,100 - - - - 108,100 ■D) (D) - - - 99,500 - - - - - 790,100 (D) (D) - - - 605,700 - - - - 295,700 (D) (D) 229,800 2&95 (NA ) 13 ■ NA) r- - - (NA) 13 (na) - - - 15,900 8,021 46.9 - - - 17,100 8,080 50.8 - - - 138,200 69,969 49.6 ^ - 141,000 74,476 53.9 - - " - 2,405,500 1,079,230 48.8 - - - 2,211,700 1,208,621 50.2 - - - 866,000 477,848 55.5 861,100 515,384 59.5 1 2096- (NA) 17 (NA ) _ _ _ >NA) 15 NA ' - - - 13,400 7,155 49.7 - - - 14,400 6,358 47.4 - - - 120,000 60,331 50.5 - - - 119,500 56,319 46.9 - - - 1,887,500 810,558 47.0 - - - 1,725,200 861,006 45.6 - - - 467,200 242,461 51.3 472,700 238,239 51.0 2097 (NA ) - - - - - (NA) - - - - - 8,500 - - - - - 5,800 - - - - - 47,000 - - - - - 30,600 - - - - - 115,300 - - - - - 82,300 - - - - - 89,800 - - - - - 64,000 - - - - - 48 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estab- lishments in industry Large establishments in industry (b) Percent of all estab- lishments (b) * (a) Acquired In 1968 Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) T (b) (f) Macaroni, spaghetti, vermicelli, and noodles: Establishments number Empl oyees do-. Payrol 1 $1 , 000 Shipments do. . Value added do. . Food Dreparat ions , n.e.c: £,stablishments number Empl oyees do.. Payroll $1 , 000 Shipments do. , Value added do. . Cigarettes : Establishments number Employees do.. Payroll $1 , 000 Shipments do. . Value added do. . Cigars : Establishments number Employees do.. Payroll $1 ,000 Shipments do.. Value added do. . Tobacco (chewing and smoking) and snuff: Establishments number Employees do. . Payroll $1 ,000 Shipments do. . Value added do. . Tobacco stemming and redrying: Establishments number Employees do.. Payroll $1,000 Shipments do. . Value added do. . Broad woven fabric mills, cotton: Establishments number Employees do.. Payroll $1 ,000 Shipments do.. Value added do.. Broad woven fabric mills, man-made fiber and silk: Establishments number Employees do. . Payroll $1 ,000 Shipments do. . Value added do. . Broad woven fabric mills, wool: including dyeing and finishing: Establishments number Employees do.. Payroll $1 ,000 Shipments do. , Value added do. , Narrow fabrics and other smallwares mills: cotton^ wool, silk, and man-made fiber: Establishments number Employees do.. Payrol 1 $1 , 000 Shipments do. . Value added do. . Knitting mills, except knitting mills, n.e.c: Establishments number Empl oyees do.. Payroll $1,000 Shipments , do. . Value added do.. Knitting mills, n.e.c: Establishments number Employees do.. Payroll $1 ,000 Shipments do.. Value added do.. (D) (D) (D) 2 GG (D) nployees do. . Payroll $1,000 Shipments do. . Value added do. . Men 's , youths ' , and boys ' underwear : Establisliments number Employees do.. Payroll $1,000 Shipments do. . Value added do. . Men's, youths', and boys' neckwear: Establishments number Employees do.. Payroll $1,000 Shipments do. . Value added do. . Men's, youths ' , and boys ' separate trousers : Establishments number Employees do.. Payroll $1,000 Shipments do.. Value added do. . Men's, youths', and boys' work clothing: Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do. . Men's, youths', and boys' clothing, n.e.c; Establishments number, Employees do... Payroll $1,000 Shipments do,. Value added do. . DD (D) (D) fD) 2 EE (D) (D) (D) 12 HH fD) (D) (D) (NA) 17,300 1 27 , 300 670,800 287 , 200 fNA) 10,700 55,900 545,500 106,900 (NA) 5,800 29 , 800 107,600 46,000 (NA) 9,300 46,900 178,400 91 .000 fNA") 10,300 61 ,700 278,400 138,200 (NA) 138,500 703,800 2,158,700 1,192,500 20 (NA) II 113,800 (D) 419,600 (D) 1,591,100 (D) 771 , 100 4 (NA) 3,877 10,300 15,415 35,400 50,942 144,200 23,768 71,400 _ (NA) - 7,000 - 36,600 - 124,700 - 63,100 13 (NA) HH 92,400 (D) 361 ,600 (D) 1,304,400 (D) 623,000 25 (NA) II 76,400 (D) 274,800 fD) 1,165,400 (D) 515,300 1 (NA) DD 42,600 (D) 177,000 (D) 657,000 (D) 308,400 19 10,483 81,818 411 ,020 177,854 10 073 53 647 11 785 95 996 6 3 227 16 363 61 948 25 495 3,623 20,027 67,285 35,176 13 5,520 34.609 140,266 81,672 142 89,311 452,737 1,264,515 761,951 137 60,882 220,986 739,248 387,888 14 7,358 25,479 95,540 43,252 2 EE (D) (D) (D) 120 52,720 201,363 681 ,996 350,168 97 41,488 150,799 664,454 273,643 20 7,392 33,355 208,808 85,040 (na) 60.6 64.3 61.3 61.9 (NA) 94.1 96.0 93.8 89.8 (NA) 55.6 54.9 57.6 55.4 (NAl 39.0 42.7 37.7 38.7 fNA) 53.6 56.1 50.4 59. 1 (NA) 64.5 64.3 58.6 63.9 (NA) 53.5 52.7 46.5 50.3 (NA) 71.4 72.0 66.3 60.6 (NA) (D) (D) (D) (D) (NA) 57.1 55.7 52.3 56.2 (NA) 54.3 54.9 57.0 53.1 (NA) 17.4 18.8 31.8 27.6 DD (D) (D) (D) 2,846 13,827 30,103 19,539 7 3,832 14,277 48.103 26,669 BE (D) (D) (D) 7 2,481 9,733 16,589 11 ,652 3 1 ,529 6,278 30,202 1 1 , 504 (NA) (D) (D) (D) (D) (NA) 2.1 2.0 1.4 1.6 (NA) 3.4 3.4 3.0 3.5 (NA) (D) (D) (D) (D) (NA) 2.7 2.7 1.3 1.9 (NA) 2.0 2.3 2.6 2.2 7.7 (D) (D) (D) (D) 3.5 3.2 3.1 2.4 2.6 5.1 6.3 6.5 6.5 6.9 7.1 (D) (D) (D) (D) 5.8 4.7 4.8 2.4 3.3 3.1 3.7 4.2 4.5 4.2 See footnotes at end of table. MERGERS AND ACQUISITIONS 53 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All Large establishments in industry All Large establishments in industry Acquired during 1969 Acquired during 1970 estab- lishments in industry Percent of all estab- lishments in industry Percent of all Pnrto Percent Percent of all large estab- lishments (d) + (b) Percent Percent v-oae Total estab- lishments (b) + (a) Total of all estab- • lishments (d) * (a) Total estab- lishments (b) + (a) Total of all estab- lishments (d) + fa) of all estab- lishments (d) ^ (b) (a) (b) (c) (d) (e) (f) (a) (b) (c) (d) (e) (f) 2295 (NA) 17 (NA) - - - (NA) 18 (NA) - - - 16,000 9,807 61.3 - - - 17,200 9,940 57.8 - - - 123,500 80,964 65.6 - - - 137,000 81,209 59.3 - - - 614,700 399,606 65.0 - - - 677,800 393,665 58.1 - - - 249,000 168,153 67.5 274 , 000 166,612 60.8 2296 (NA) 13 (NA) - - - (NA) 13 (NA) - - - 11,000 10,057 91.4 - - - 10,700 9,479 88.6 - - - 63,100 57,898 91.8 - - - 61,500 54,651 88.9 - - - 631,900 578,104 91.5 - - - 597,100 533,377 89.3 - - - 121,500 105,779 87.1 119,700 105,119 87.8 2297 (NA) 6 (NA) 1 (NA) 16.7 (NA) 4 (NA) - - - 5,400 3,068 56.8 DD (d) (D) 3,900 2,064 52.9 - - - 29,300 16,225 55.4 (D) (D) (D) 23,900 12,559 52.5 - - - 105,300 57,863 55.0 (D) (D) (d) 62,500 29,880 47.8 - - - 46,000 25,402 55.2 (D) (D) (D) 27,400 13,287 48.5 2298 (NA) 7 (NA) - - - (NA) 5 (NA) 1 (NA) 20.0 9,200 3,590 39.0 - - - 7,700 2,925 38.0 DD (D) (D) 50,800 21,389 42.1 - - - 43,800 18,158 41.5 (D) (D) (D) 193,500 69,408 35.9 - - - 149,000 52,104 35.0 (D) (D) (D) 104,800 37,692 36.0 74,100 29,703 40.1 (D) (D) (D) 2299 (NA) 13 (NA) 1 (NA) 7.7 (NA) 11 (NA) - - - 1 1 , 000 5,916 53.8 DD (D) (D) 9,400 4,724 50.3 - - - 65 , 900 36,490 55.4 (D) (D) (D) 66,400 35,843 54.0 - - - 308,500 154,619 50.1 (D) (D) (D) 333,000 144,736 43.5 - - - 146,500 85,712 58.5 (D) (D) (D) 147,900 77,103 52.1 " 2311 (NA) 141 (NA) 2 (NA) 1.4 (NA) 143 (NA) 5 (NA) 3.4 138,500 89,886 64.9 EE (D) (D) 122,400 85,029 69.5 1,944 1.6 2.2 758,600 499,473 65.8 (D) (D) (D) 663,200 462,913 69.8 13, 111 2.0 2.8 2,293,500 1,391 ,304 60.7 (D) (D) (D) 1,912,400 1,283,177 67.1 31 ,947 1.7 2.4 1,259,200 801,412 63.6 (D) (D) (D) 1,034,000 723,663 70.0 16,767 1.6 2.3 2321 (NA) 135 (NA) 7 (NA) 5.2 (NA) 147 (NA) 6 (NA) 4.0 109,200 59,067 54.1 GG (D) (D) 100,500 66,087 65.8 2,983 3.0 4.5 410,700 221,671 54.0 (D) (D) (D) 438,900 257,083 58.6 10,863 2.5 4.2 1,617,100 767,350 47.5 (D) (D) (D) 1,679,400 893,143 53.2 25,968 1.5 2.9 787,600 418,519 53.1 (D) (D) (D) 810,300 483,728 59.7 20,890 2.6 4.3 2322 (NA) 14 (NA) 1 (NA) 7.1 (NA) 14 (NA) 2 (NA) 14.3 10,400 7,358 70.8 FF (D) (D) 9,900 8,027 81.1 FF (D) (D) 41,700 27,321 65.5 (D) (D) (D) 39,200 30,461 77.7 (D) (D) (D) 141,100 90,143 63.9 (D) (D) (D) 160,900 106,310 66.1 (D) (D) (D) 61,100 41,045 67.2 (D) (D) (D) 82,600 58,338 70.6 (D) (D) (D) 2323 (NA) 4 (NA) - - - (NA) 5 (NA) - - - 8,900 1,640 18.4 - - - 8,800 2,360 26.8 - - - 48,600 11,028 22.7 - - - 57,100 17,876 31.3 - - - 186,500 47,542 25.5 - - - 205,300 75,361 36.7 - - - 105,000 32,279 30.7 104,500 43,221 41.4 2327 (NA) 123 (NA) 5 (NA) 4.1 (NA) 131 (NA) 1 (NA) 0.8 95,400 55,674 58.4 2,234 2.3 4.0 98,800 59,667 60.4 DD (D) (D) 385,600 223,278 57.9 9,511 2.5 4.3 423,100 256,687 60.7 (D) (D) (D) 1 ,361,000 774,191 56.9 32,775 2.4 4.2 1,447,400 889,537 61.5 (D) (D) (D) 635,400 383,925 60.4 19,136 3.0 5.0 729,300 442,017 60.6 (D) (D) (D) 2328 (NA) 95 (NA) 12 (NA) 12.6 (NA) 105 (NA) 10 (NA) 9.5 80,000 40,086 50.1 5,424 6.8 13.5 76,400 43,511 57.0 GG (D) (D) 299,300 154,876 51.7 21,016 7.0 13.6 296,900 170,842 57.5 (D) (D) (D) 1,319,700 656,369 49.7 74,650 5.7 11.4 1,367,500 723,633 52.9 (D) (D) (D) 600,700 288,343 48.0 27,791 4.6 9.6 636,000 322,869 50.8 (D) (D) (D) 2329 (NA) 20 (NA) - - - (NA) 26 (NA) 1 (NA) 3.8 40,200 7,746 19.3 - - - 38,800 10,032 25.9 DD (D) (D) 172,100 34,585 20.1 - - - 197,500 44,908 22.7 (D) (D) (D) 676,400 164,169 24.3 - - - 649,100 187,799 28.9 (D) (D) (D) 323,500 71,808 22.2 - - - 323,100 84,138 26.0 (D) (D) (D) 54 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estah.- lishments in Industry (a) Large establishments in industry Percent of all estab- lishments (b) * (a) (c) Acquired in 1968 (d) Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) -r (b) (f) Women's, misses', and juniors' outerwear; Establishments number Employees do. , Payroll $1,000 Shipments do. . Value added do. . Women's, misses', children's, and Infants' underwear and nlghtwear: Establishments number Employees do. . Payroll $1,000 Shipments .do.. Value added do. . Corsets and allied garments: Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added....... do.. Millinery: Establishments number Employees do. , Payroll $1,000 Shipments do. . Value added do. . Hats and caps, except millinery: Establishments number. Employees do. . Payroll $1,000 Shipments do. . Value added do. . Girls', children's, and Infants' dresses, blouses, waists, and shirts; Establishments number Employees do. . Payroll $1,000 Shipments do. .■ Value added do. . Girls', children's, and infants' coats and suits: Establishments number Employees do.. Payroll $1,000 Shipments do. . Value added do. . Girls', children's, and Infants' outerwear, n.e.c: Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do. . Fur goods: Establishments number Employees * do. . Payroll $1,000 Shipments do. . Value added do. . Dress and work gloves, except knit and all-leather: Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do. . Robes and dressing gowns: Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do. . Raincoats and other waterproof outer garments: Establishments number Employees do.. Payroll $1,000 Shipments, do. , Value added do. . 20 7,906 35,873, 135,009 70 , 78 1 12 4,729 20,203 50,613 29,816 1 DD (D) (D) (D) 1 DD (D) (D) (D) 1 DD (D) (D) (D) 4 FF (D) (D) (D) 1 DD (D) (D) (D) (NA) 409,600 1,904,100 6,939,200 3,648,500 (NA) 78,700 315,400 ,214,700 593,200 (NA) 36,200 165,700 733,100 386,300 (NA) 8,300 36,800 114,300 63,100 (NA) 15,000 63,500 194,600 100 , 700 (NA) 34,200 142,500 521,500 253,600 (NA) 10 , 700 48,000 181,600 83,700 (NA) 32,100 127,200 489,500 225,700 (NA) 7,800 61,200 327,300 118,100 (NA) 14,500 54,900 202,800 99,500 (NA) 11,600 44,700 186,300 81,800 (NA) 20,400 91,900 360,300 169,400 153 65,227 289,720 1,152,173 550,586 79 35,085 137,735 474,483 265,447 35 19,573 87,791 388,612 223,731 1 EE (D) (D) (D) 4,033 17,814 53,537 26,383 17 6,761 27,823 93,066 51,220 4 1,170 3,744 7,137 5,342 23 11,721 44,335 146,515 79,313 12 5,263 21,355 67,551 38,167 3 909 2,897 8,833 4,584 12 5,632 25,177 93,456 50,342 (NA) 15.9 15.2 16.6 15.1 (NA) 44.6 43.7 39, ] 44.7 (NA) 54.1 53.0 53.0 57.9 (NA) (D) (D) (D) (D) (NA) 26.9 28. 1 27. 5 26.2 (NA) 19.8 19,5 17.8 20.2 (NA) 10.9 3.9 6.4 (NA) 36.5 34.9 29.9 35.1 (NA) 36.3 38.9 33.3 38.4 (NA) 7.8 6.5 4.7 5.6 (NA) 27.6 27.4 25.9 29.7 7 2,961 11,375 32,578 20,989 3 1,399 5,381 10,937 7,570 1 DD (D) (D) (D) (D) (D) (D) (NA) 0.7 0.6 0.5 0.6 (NA) 1.8 1.7 0.9 1.3 (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) 4.6 4.5 3.9 2.8 3.8 3.8 4.0 3.9 2.3 2.9 12.5 (D) (D) (D) (D) 25.0 (D) (D) (D) (D) See footnotes at end of table. MERGERS AND ACQUISITIONS 55 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- lishments in Industry Large establishments In industry All estab- lishments in industry Large establishments in industry Percent of all Acquired during 1969 Percent of all Acquired during 1970 Code Percent Percent of all large estab- lishments (d) 4 (b) Percent Percent Total estab- lishments (b) 4 (a) Total of all estab- lishments (d) 4 (a) Total estab- lishments (b) 4 (a) Total of all estab- lishments (d) 4 fa) of all estab- lishments (d) 4 (b) (a) (b) (c) (d) (e) (f ) (a) (b) ^ (c) (d) (e) (f ) 233- fNA) 164 (NA) 8 (NA) 4.9 (NA) 154 (NA) 5 (NA) 3.2 420,100 70,262 16.7 2,877 0.7 4.1 410,600 68,096 16.6 2,068 0.5 3.0 2,020,500 323,434 16.0 12,848 0.6 4.0 1,895,800 323,549 17. 1 11,650 0.6 3.6 7,348,700 1,267,957 17.3 58,973 0.8 4.7 7,157,200 1,362,908 19.0 43,458 0.6 3.2 3,599,600 602,400 16.7 25,843 0.7 4.3 3,593,000 642,716 17.9 23,949 0.7 3.7 2341 (NA) 82 (NA) 4 (NA) 4.8 (NA) 87 (NA) 5 (NA) 5.7 78,500 35,351 45.0 1,455 1.9 4.1 82,300 37,377 45.4 1,875 2.3 5.0 331,700 148,398 44.7 6,316 1.9 4.2 352,900 160,677 45.5 8,506 2.4 5.3 1,170,900 507,067 43.3 18,805 1.6 3.7 1,201,200 512,705 42.7 20,871 1.7 4.1 589,600 271,668 46.1 12,641 2. 1 4.6 662,000 318,537 48. 1 9,605 1.5 3.0 2342 (NA) 33 (NA) - - - (NA) 31 (NA) - - - 36,600 19,108 52.2 - - - 33,200 15,918 47.9 - - - 168 , 700 87,497 51.9 - - 159,000 78,850 49.6 - - - 716,300 388,653 54.3 - - 645,700 348,479 54.0 - - - 361,500 214,507 59.3 347,100 196,197 56.5 2351 (NA) 1 (NA) - - - - (NA) 1 (NA) - - - 7,400 EE (D) - - - 3,300 DD (D) - - - 34,600 (D) (D) - - - 16,400 (D) (D) - - - 100,600 (D) (D) - - - 64,400 (D) (D) - - - 56,100 (D) (D) 33,600 (D) (D) 2352 (NA) 9 (NA) - - - (NA) 8 (NA) - - - 14,600 3,804 26. 1 - - - 12,500 3,365 26.9 - - - 67,300 18,098 26.9 - - - 55,100 15,989 29.0 - - - 240,000 64,347 26.8 - - - 169,200 47,543 28. 1 - - - 127,600 38,036 29.8 86,700 25,999 30.0 2361 (NA) 19 (NA) 1 (NA) 5.3 (NA) 19 (NA) - _ _ 37,200 8,898 23.9 DD (D) (D) 35,000 7,784 22.2 - - - 156,400 37,664 24. 1 (D) (D) (D) 145,300 33,307 22.9 - - - 564,700 132,168 23.4 (D) (D) (D) 486,900 103,260 21.2 - - - 271,700 68,602 25.2 (D) (D) (D) 250,400 56,464 22.5 ■ " ' 2363 (NA) 5 (NA) - - - (NA) 4 (NA) - - - 9,800 1,480 15.1 - - - 9,500 1,277 13.4 - - - 46,000 5,348 11.6 - - - 41,900 4,750 11.3 - - - 204,200 18,421 9.0 - - - 163,500 17,644 10,8 - - - 89,000 11,898 13.4 73,800 9,547 12.9 2369 (NA) 19 (NA) 3 (NA) 15.8 (NA) 32 (NA) 1 (NA) 3.1 29,600 9,014 30.5 FF (D) (D) 30,300 14,022 46.3 DD (D) (D) 118,500 34,452 29. 1 (D) (D) (D) 131,400 57,675 43.9 (D) (D) (D) 532,600 108,572 20.4 (D) (D) (D) 476,600 190,507 40.0 (D) (D) (D) 233,200 55,250 23,7 (D) (D) (D) 251,600 109,401 43.5 (D) (D) (D) 2371 (NA) - - " - - (NA) - - - - - 8,100 - - - - 7,000 - - - - 60,800 - - - - - 53,800 - - - - 324,400 - - - - - 271,400 - - - - - 122,800 116,100 2381 (NA) 15 (NA) - - (NA) 16 (NA) - - - 15,700 6,608 42.1 - - - 14,500 6,788 46.8 - - - 63,400 29,616 46.7 - - - 58,700 30,314 51.6 - - - 228,400 92,327 40.4 - - 185,400 86,439 46.6 - - - 111,800 53,877 48.2 ~ 90 , 500 43,494 48.1 2384 (NA) 5 (NA) _ _ _ (NA) 5 (NA) - - - 10,900 1,761 16.2 - - - 10,600 1,663 15.7 - - - 45,900 7,452 16.2 - - - 50,900 6,879 13.5 - - - 216,600 26,061 12.0 - - - 198,800 21,175 10.7 - - _ 108,100 12,600 11.7 - - - 105,900 11,566 10.9 - - - (NA) 15 (NA) " 1 (NA) 6.7 (NA) IS (NA) 2385 21,700 5,823 26. B DD (D) (D) 17,400 6,172 35.5 - - - 100,300 27,696 27.6 (D) (D) (D) 85,900 28,721 33.4 - - - 432,900 113,964 26.3 (D) (D) (D) 345,000 101,208 29.3 - - - 195,900 58,467 29.8 (D) (D) (D) 168,500 53,882 32.0 - - - 56 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estab- lishments in industry (a) Large establishments in industry Percent of all estab- lishments (b) * (a) Acquired in 1968 (d) Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) T (b) it) Leather and sheep lined clothing: Establishments number Employees do . . Payrol 1 $1 , 000 Shipments do. . Value added do , , Apparel belts : Establishments number Employees do . . Payroll $1,000 Shipments do , . Value added do, . Apparel and accessories , n .e .c . : Establ ishments number Employees do . . Payroll $1,000 Shipments do. . Value added do . . Miscellaneous fabricated textile products : Establishments number Employees do . . Payroll $1,000 Shipments do . . Value added do , , Logging camps and logging contractors: Establ Ishments number Employees do . . Payroll $1,000 Shipments do, , Value added do . . Sawmills and planing mills, general: Establ ishments number Employees do , . Payroll $1,000 Shipments do. . Value added do . . Hardwood dimension and flooring mills: Establishments number Employees do . . Payroll $1,000 Shipments do . . Value added do. . Spec ial product sawmills , n .e .c , : Establ ishments number Employees ." do, . Payroll $1,000 Sh ipments do . . Value added do . . Millwork : Establishments number Employees do . . Payroll $1,000 Sh ipments do . , Value added do . , Veneer and plywood : Establ ishments number Employees do . . Payroll $1,000 Shipments do . . Value added do . . Prefabricated wooden buildings and structural members Establ ishments number Employees do . . Payroll $1,000 Shipments do . . Value added do . . Nailed and lock corner wooden boxes and shook: Establishments number Employees do . . Payroll $1,000 Shipments do. . Value added do . . - (NA) - 6,100 - 30,900 - 118,400 ~ 52,700 2 (NA) EE 8,200 (D) 39,400 (D) 144 ,500 (D) 35,100 2 (NA) EE 8,900 (D) 38,300 4,249,600 1,537,284 36.2 44,222 1.0 2.9 1,781,300 607,008 34.1 (D) (D) (D) 1,863,000 567,423 30.5 15,065 0.8 2.7 2411 (NA) 12 (NA) 1 (NA) 8.3 (NA) 13 (NA) - - - 73,500 6,422 8.7 EE (D) (D) 78,700 6.933 8.8 - - - 392,800 53,517 13.6 (D) (D) (D) 402,200 59,865 14.9 - - - 1,900,900 305.893 16.1 (D) (D) (D) 1,838,800 322,331 17.5 - - - 868,300 112,249 12.9 (D) (D) (D) 888, 100 136,507 15.4 2421 (NA) 76 (NA) 7 (NA) 9.2 (NA) 71 (NA) - - - 177,200 39,244 22.1 3,495 2.0 8.9 175,300 37,797 21.6 - - - 1,009,800 276,764 27.4 24,577 2.4 8.9 1,029,500 282,959 27.5 - - - 4 ,400,200 1,016,164 23.1 77,405 1.8 7.6 3,935,700 920,953 23.4 - - - 2,029,800 521,110 25.7 48,987 2.4 9.4 1,734,900 433,259 25.0 2426 (NA) 10 (NA) 1 (NA) 10.0 (NA) 8 (NA) 1 (NA) 12.5 28,600 4,721 16.5 DD (D) (D) 23,300 3,590 15.4 EE (D) (D) 132,900 23,627 17.8 (D) (D) (D) 114,500 18,550 16.2 (D) (D) (D) 447,800 75,257 16.8 (D) (D) (D) 356,700 56,772 15.9 (D) (D) (D) 225,200 40.542 18,0 5 GG (D) (D) (D) 3 312 27 774 129 747 45 398 2 EE (D) (D) (D) 1 FF (D) (D) (D) 2 EE (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) 2.4 2.4 2.6 1.9 (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) 12.5 (D) (D) (D) (D) 6.3 (D) (D) (D) (D) 11.1 (D) (D) (D) (D) 23.8 (D) (D) (D) (D) 3.1 2.7 2.6 2.9 2.1 2.7 (D) (D) (D) (D) 2.9 (D) (D) (D) (D) 4.1 (D) (D) (D) (D) See footnotes at end of table MERGERS AND ACQUISITIONS 61 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 AH estab- lishments Large establishments In industry All estab- lishments in industry Large establishments in industry Percent of all Acquired during 1969 Percent of all Acquired during 1970 Cnrldn Percent Percent of all large estab- lishments (d) 4 (b) Percent Percent L-Ou© in industry Total estab- lishments Total of all estab- Total estab- lishments Total of all estab- of all estab- (b) 4 (a) lishments (d) 4 (a) (b) 4 (a) lishments (d) 4 fa) lishments (d) ^ (b) (a) (b) (c) (d) (e) (f ) (a) (b) (c) (d) (e) (t) 2531 (NA) 19 (NA) 2 (NA) 10.5 (NA) 16 (NA) 2 (NA) 12.5 19,700 10,304 52.3 EE (D) (D) 22,600 8,500 37.6 EE (D) (D) 119,200 77,136 64.7 (D) (D) (D) 149,300 67,247 45.0 (D) (D) (D) 421,900 217,751 51.6 (D) (D) (D) 461,700 184,026 39.9 (D) (D) (D) 249,100 129,820 52.1 (D) (D) (D) 252,500 107 , 087 42.4 (D) (D) (D) 2541 (NA) 8 (NA) - - - (NA) 9 (NA) - - - 30,100 2,779 9.2 - - - 28,000 2,970 10.6 - - - 219,700 21,200 9.6 - - - 216,500 24 , 578 11.4 - - - 638,400 59,208 9.3 - - - 612,500 64 , 546 10.5 - - - 374,300 36,692 9.8 356,700 39,259 11.0 2542 (NA) 19 (NA) - - - (NA) 19 (NA) 1 (NA) 5.3 26 , 500 9,013 34.0 - - - 22,900 8,530 37.2 EE (D) (D) 186,200 68,567 36.8 - - - 164,400 63,030 38.3 (D) (D) (D) 610,400 229,561 37.6 - - - 575,800 221,662 38.5 (D) (D) (D) 351,800 131,549 37.4 ' " " 325,600 128,138 39.4 (D) (D) (D) 2591 (NA) 8 (NA) _ - - (NA) 8 (NA) 1 (NA) 12.5 12,700 6,496 51.1 - - ' 13,600 6,732 49.5 EE (D) (D) 77,400 42,338 54.7 - - - 86,900 46,459 53.5 (D) (D) (D) 301,900 158,353 52.5 - - - 298,100 164,181 55.1 (D) (D) (D) 163,800 94 ,620 57.8 " " _ 164,100 96 , 925 59.1 (D) (D) (D) 2599 (NA) 5 (NA) 1 (NA) 20.0 (NA) 5 (NA) - - - 10,800 1,606 14,9 DD (D) (D) 10,300 1,637 15.9 - - - 70,200 9,566 13.6 (D) (D) (D) 71,600 9,957 13.9 - - - 247,200 28,095 11.4 (D) (D) (D) 210,300 26,462 12.6 - - - 133,600 17,751 13.3 (D) (D) (D) 126,700 15,757 12.4 2611 (NA) 22 (NA) 4 (NA) 18.2 (NA) 23 (NA) - - - 15,400 12,984 84.3 FF (D) (D) 15,600 13,796 88.4 - - - 147,600 127,448 86.3 (D) (D) (D) 160,200 144,416 90.1 - - - 854,300 700,754 82.0 (D) (D) (D) 960,300 832,602 86.7 - - - 382,400 317,191 82.9 (D) (D) (D) 452,100 420,936 93.1 2621 (NA) 158 (NA) 10 (NA) 6.3 (NA) 158 (NA) 3 (NA) 1.8 141,300 123,778 87.6 4,529 3.2 3.6 137,800 121,482 88.2 FF (D) (D) 1,280,600 1,130,542 88.3 40,911 3.2 3.6 1,301,300 1,159,437 89.1 (D) (D) (D) 5,620,300 4,834,530 86.0 195,134 3.5 4.0 5,674,000 4,941,491 87.1 (D) (D) (D) 2,676,800 2,317,629 86.6 97 , 938 3.7 4.2 2,651,900 2,349,971 88.6 (D) (D) (D) 2631 (NA) 74 (NA) 5 (NA) 6.7 (NA) 73 (NA) 2 (NA) 2.7 67,900 47,708 70.3 FF (D) (D) 67,000 47,598 71.0 EE (D) (D) 604,400 441,996 73.1 (D) (D) (D) 639,700 465,110 72.7 (D) (D) (D) 3,370,500 2,594,544 77.0 (D) (D) (D) 3,388,600 2,587,211 76.4 (D) (D) (D) 1,658,800 1,304 ,770 78.7 (D) (D) (D) 1,648,800 1,276,109 77.4 (D) (D) (D) 2641 (NA) 34 (NA) 2 (NA) 5.9 (NA) 31 (NA) 1 (NA) 3.2 35,700 21,682 60.7 FF (D) (D) 38,800 22,090 56.9 EE (D) (D) 290,700 186,772 64.2 (D) (D) (D) 319,200 188,958 59.2 (D) (D) (D) 1,522,500 1,019,778 67.0 (D) (D) (D) 1,724 ,600 1,023,767 59.4 (D) (D) (D) 700,300 538.451 76.9 (D) (D) (D) 832,700 535,558 64.3 (D) (D) (D) 2642 (NA) 20 (NA) - - - (NA) 17 (NA) 1 (NA) 5.9 23,500 7,836 33.3 - - _ 23,400 6,877 29.4 EE (D) (D) 164,600 55,761 33.9 - - - 177,900 52,408 29.5 (D) (D) (D) 552,100 179,530 32.5 - - - 572,900 167,138 29.2 (D) (D) (D) 307,100 97 , 056 31.6 318,900 92,418 29.0 (D) (D) (D) 2643 (NA) 50 (NA) 2 (NA) 4.0 (NA) 50 (NA) - - - 49,900 24 ,139 48.4 EE (D) (D) 53,400 24,506 45.9 - - - 325,000 167,431 51.5 (D) (D) (D) 347,300 174,559 50.3 - - - 1,574,100 773,790 49.2 (D) (D) (D) 1,702,700 823,124 48.3 - - 679,600 347,837 51.2 (D) (D) (D) 712,600 355,111 49.8 2644 (NA) - - - - - (NA) 1 (NA) - - - 2,100 - - - - - 2,400 DD (D) - - - 16,300 - - - - - 17,600 (D) (D) - - - 52,600 - - - - - 53,400 (D) (D) - - - 31,700 - - - - - 29,300 (D) (D) - - 62 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estab- lishments in Industry Large establishments in industry Percent of all estab- lishments (b) + (a) (c) Acquired in 1968 Percent of all estab- lishments (d) r (a) (e) Percent of all large estab- lishments (d) T (b) if) Die cut paper and paperboard and cardboard: Establishments number. Employees i • .do. . . Payroll $1 , 000 . Shipments do. . . Value added do. . . Pressed and molded pulp goods: Establishments number. Employees do... Payroll $1 , 000 . Shipanents do. . . Value added do... Sanitary paper products : Establishments number. Employees do... Payroll $1,000. Shiponents do. . . Value added do. . . Converted paper and paperboard products , n.e .c . : Establishments number. Employees do. . . Payroll $1 ,000. Shiiments do. . . Value added do... Folding paperboard boxes : Establishments number . Employees do . . . Payroll $1,000. Shipments do . . . Value added do . . . Set-up paperboard boxes; Establishments number. Employees do. . . Payroll $1 ,000. Shipments do. . . Value added do. . . Corrugated and solid fiber boxes: Establishments number. Employees do... Payroll $1 , 000 . Shipments do. . . Value added do. . . Sanitary, food containers; Establishments number. Employees do. . . Payrol 1 $1 , 000 . Shipments do. . . Value added do. . . Fiber cans, tubes, drums, and similar products: Establishments number, Employees do. . . Payroll $1 , 000 , Shipments do. . . Value added do. . Building paper and building board mills: Establ-ishments number, Employees do. . Payroll $1 ,000 Shipments do. . Value added do. . Newspapers: publishing, publishing and printing: Establishments number Employees » do.. Payroll $1,000 Shipments do. . Value added do . . Periodicals: publishing, publishing and printing: Establishments number Employees do. . Payroll $1 ,000 Shipments do. . Value added do. . 1 DD (D) DD (D) (D) (D) 3 1,507 8,925 53,756 42,879 7 2,727 19,782 73,889 33,629 7 2,366 20,386 79,919 38,184 6,066 37,226 149,689 93,099 DD (D) (D) (D) 3 1,971 15,941 86,724 51,986 27 17,792 149,870 380,173 288 , 186 7 4,654 47,791 188,939 138,013 (NA) 19,400 133,000 558,000 263,700 (na) 7,000 49,300 168,000 110,500 (NA) 23 , 300 172,500 1,437,200 619,300 (NA) 33,200 200,100 837,400 438,500 (NA) 49,800 346,800 1,340,200 643,700 (NA) 20,600 101,400 284,800 158,000 (NA) 101,200 731,300 3,240,000 1,306,000 (NA) 34,800 220,700 1,150,500 541,300 (NA) 16 , 200 107,900 421,300 204 , 700 (NA) 11,900 87,200 382,300 206,100 (NA) 331,200 2,363,100 6,321,700 4,601,200 (NA) 83,300 685,700 3,221,100 2,005,100 13 6,266 48,295 183,228 99,111 3,643 27,010 90,848 62,467 27 16,818 129,554 1,126,143 498,935 18 11,298 71,527 296,200 170,074 44 17,972 132,758 550,736 256,187 5 1,733 10,246 29,546 17,319 73 23,925 184,314 746,919 317,456 32 21,492 139,185 653,682 354,202 5,233 39,669 97,705 53,419 11 6,475 48,667 208,027 121,185 218 183,946 1,468,685 4,023,761 2,823,094 49 48,033 414,822 2,178,094 1,282,341 (NA) 32.3 36.3 32.8 37.6 (NA) 52.0 54.8 54.1 56.5 (NA) 72.2 75.1 78.4 80.6 (NA) 34.0 35.7 35.4 38.8 (NA) 36.1 38.3 41.1 39.8 (NA) 8.4 10.1 10.4 11.0 (NA 23.6 25.2 23.1 24.3 (NA) 61.8 63.1 56.8 65.4 (NA) 32.3 36.8 23.2 26.1 (NA) 54.4 55.8 54.4 58.8 (NA) 55.5 62.2 63.6 61.4 (NA) 57.7 60.5 67.6 64.0 2 EE (D) (D) (D) 1 DD (D) (D) (D) 2 FF (D) (D) (D) EE (D) (D) (D) 6,932 57,858 145,851 109,157 4 3,602 36,103 146,925 104,872 (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) ■(D) (D) (D) (NA) (D) (D) (D) (D) (NA) 2.1 2.4 2.3 2.4 (NA) 4.3 5.3 4.6 5.2 .1.1 (D) (D) (D) (D) 1.4 (D) (D) (D) (D) 6.3 (D) (D) (D) (D) 9.1 (D) (D) (D) (D) 3.7 3.8 3.9 3.6 3.9 8.2 7.5 8.7 6.7 8.2 See footnotes at end of table. MERGERS AND ACQUISITIONS 63 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- Large establishments in industry All estab- Large establishments in industry Acquired during 1969 Acquired during 1970 Code Percent Percent lishments Percent lishments in of all Percent ot all in of all Percent Percent Total estab- of all Total estab- of all of all industry lishments (b) ■» (a) Total estab- lishments (d) + (a) large estab- lishments (d) 4 (b) industry lishments (b) 4 (a) Total estab- lishments (d) 4 fa) estab- lishments (d) * (b) (a) (b) (c) (d) (e) (f) (a) (b) (c) (d) (e) 'f ) 2645 (NA) 14 (NA) - - - (NA) 13 (NA) - - - 18,700 6,564 35.1 - - " 17,800 5,787 32.5 - - - 133,000 50,574 38.0 - - 132,300 49,066 37.1 - - - 546,400 186,354 34.1 - - - 597,000 176,681 29.6 - - - 258,500 92,146 35.6 ~ 260,800 92,906 35.6 2646 (NA) 8 (NA) - - - (NA) 8 (NA) 1 (NA) 12.5 6,700 GG (D) - - - 6,300 3,662 58.1 DD (D) (D) 49,400 (D) (D) - - - 49,500 28,751 53.1 (D) (D) (D) 161,400 (D) (D) _ - - 160,100 89,017 55.6 (D) (D) (D) 107,400 (D) (D) " 103,000 59,755 58.0 (D) (D) (D) 2647 (NA) 30 (NA) 1 (NA) 3.3 (NA) 31 (NA) - - - 25,500 19,401 76.1 DD (D) (D) 24,700 19,330 78.3 - - - 200,500 157,830 78.7 (D) (D) (D) 205,500 165,890 80.7 - - - 1,624,200 1,306,217 80.4 (D) (D) (D) 1,659,100 1,371,248 82.7 - - - 724,100 603,275 83.3 (D) fD) (D) 762,300 637,456 83.6 2649 (NA) 23 (NA) - - - (NA) 25 (NA) 1 (NA) 4.0 35,200 12,873 36.6 _ - - 33,200 12,840 38.7 EE \A ° 222,800 83,011 37.3 _ - - 206,300 88,743 43.0 (D) (D) (D) 975,600 355,441 36.4 - - - 890,400 374,139 42.0 (D) (D) (D) 512,700 200,255 39.1 " ■ 456,200 213,498 46.8 (D) (D) (D) 2651 (NA) 53 (NA) 5 (NA) 9.4 (NA) 44 (NA) 2 (NA) (D) 4.5 52,100 21,135 40.6 FF (D) (D) 47,800 18,369 38.4 EE (D) (D) (D) (D) 372,200 163,559 43.9 (D) (D) (D) 364,000 147,139 40.4 (d) (D) (D) (D) 1,407,100 674,124 47.9 (D) (D) (D) 1,361,200 585,648 43.0 (D) 685,600 323,089 47.1 (D) (D) (D) 638,500 256,483 40.2 (D) 2652 (NA) 5 (NA) _ _ - (NA) 5 (NA) - - - 21,500 1,759 8.2 - - - 21,800 1,650 7.6 - - - 104,000 11,428 11.0 - - - 117,100 11,616 9.9 - - - 282,300 33,625 11.9 - - - 324,600 33,878 10.4 - - - 159,400 19,849 12.5 ' " 214,700 20,573 9.6 2653 (NA) 73 (NA) 5 (NA) 6.8 (NA) 60 (NA) 1 (NA) 1.7 105,700 23,622 22.3 FF (D) (D) 104,300 19,268 18.5 DD (D) (D) 802,400 192,882 24.0 (D) (D) (D) 822,100 158,466 19.3 (D) (D) (D) 3,492,900 761,208 21.8 (D) (D) (D) 3,508,300 612,388 17.5 (D) (D) (D) 1,413,100 326,193 23.1 (D) (D) (D) 1,458,600 261,899 18.0 (D) (D) (D) 2654 (NA) 33 (NA) 6 (NA) 18.1 (NA) 35 (NA) - - - 33 , 900 21,810 64.3 HH (D) (D) 34,200 22,756 66.5 - - - 223,900 147,196 65.7 (D) (D) (D) 244,400 160,462 65.7 - - - 1,149,100 655,676 57.1 (D) (D) (D) 1,226,400 690,938 56.3 - - - 538,700 353,276 65.6 (D) (D) (D) 567,600 366,134 64.5 2655 (NA) 9 (NA) 1 (na) 11.1 (NA) 8 (NA) - - - 16,400 5,525 33.7 DD (D) (D) 16,300 4,887 30.0 - - - 115,800 42,717 36.9 (D) (D) (D) 118,000 39,069 33.1 - - - 449,500 102,949 22.9 (D) (D) (D) 458,300 93,444 20.4 - - - 221,200 56,081 25.4 (D) (D) (D) 217,400 49,453 22.7 2661 (NA) 11 (NA) 1 (NA) 9.1 (NA) 11 (NA) 1 (NA) 9.1 12,500 6,902 55.2 EE (D) (D) 11,800 6,245 52.9 DD (D) (D) 98,900 55,763 56.4 (D) (D) (D) 98,700 51,249 51.9 (D) (D) (D) 418,600 225,357 53.8 (D) (D) (D) 396,800 194,528 49.0 (D) (D) (D) 226,200 127,672 56.4 (D) (D) (D) 205,000 103,591 50.5 (D) (D) (D) 2711 (NA) 221 (NA) 12 (NA) 5.4 (NA) 243 (NA) 7 (NA) 2.8 354,400 188,738 53.3 6,340 1.8 3.3 350,600 197,234 56.3 4,520 1.3 2.2 2,579,000 1,621,640 62.9 49,616 1.9 3.0 2,771,000 1,799,289 64.9 42,396 1.5 2.3 6,752,400 4,429,976 65.6 132,023 2.0 2.9 6 , 990 , 900 4,665,715 66.7 102,299 1.5 2.1 4 , 978 , 700 3,162,716 63.5 101,048 2.0 3.1 5,213,600 3,362,911 64.5 77,981 1.5 2.3 2721 (NA) 49 (NA) 2 (NA) 4.1 (NA) 49 (NA) 1 (NA) 2.0 84,800 49,427 58.3 EE (D) (D) 76,900 45,237 58.8 DD (D) (D) 723,900 437,760 60.5 (D) (D) (D) 691,300 444,003 64.2 (D) (D) (D) 3,419,900 2,193,472 64.1 (D) (D) (D) 3,157,900 2,136,330 67.7 (D) (D) (D) 2,075,100 1,288,067 62.1 (D) (D) (D) 1,930,600 1,258,847 65.2 (D) (D) (D) 64 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and Item AH large estab- lishments acquired during 1968-1970 All estab- lishments In industry (a) Large establishments in industry (b) Percent of all estab- lishments (b) * (a) Acquired in 1968 (d) Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) T (b) (f) Books: publishing, publishing and printing: Establishments number Employees do.. Payroll $1,000 Shi pment s do.. Value added do. . Book printing: Establishments ....• number Employees do.. Payroll $1,000 Shipments do. . Value added .do. . Miscellaneous publishing: Establishments number Employees do. . Payroll $1 ,000 Shipments do.. Value added do. . Commercial printing, except lithographic: Establishments number Employees do. . Payroll $1,000 Shipments do.. Value added do.. Commercial printing, lithographic: Establishments number Employees do.. Payroll $1 ,000 Shipments do.. Value added do.. Engraving and plate printing: Establishments number Employees do.. Payroll $1,000 Shipments do.. Value added do.. Manifold business forms:* Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do.. Greeting card publishing: Establishments number Employees do. . Payroll $1,000 Shipments do.. Value added do. . Blankbooks, loose leaf binders and devices: Establishments ■•...• niunber Employees.. do.. Payroll $1 ,000 Shipments do. . Value added do. . Bookbinding and related work: Establishments number Employees do. . Payroll $1 ,000 Shipments do. . Value added do.. Typesetting: Establishments number Employees .do. . Payroll $1,000 Shipments do. . Value added do. . Photoengraving: Establishments number Employees do. . Payroll $1 ,000 Shipments do. . Value added do. . See footnotes at end of table. 3,878 32,496 134,553 88,7g8 6 4,816 34,188 73,233 52,689 (D) (D) (D) 10 HH (D) CD) (D) CD) CD) CD) CD) CD) CD) 1 DD CD) CD) CD) CD) CD) CD) CD) CD) CD) 1,500 9,451 19,246 13,666 1 DD CD) CD) CD) CNA) 53,000 404,900 2,204,100 1,436,200 (NA) 46,100 336,700 877,800 589,200 CNA) 32,500 219,300 630,200 412,600 CNA) 168,700 1,233,100 3,407,500 2,024,900 CNA) 152,000 1,221,500 3,453,600 2,095,400 CNA) 9,400 65,700 181,300 133,900 CNA) 35,500 262,600 ,032,000 607,300 CNA) 27,700 159,600 624,500 449,600 CNA) 24,600 141,600 439,000 274,300 CNA) 30,100 166,200 343,900 264,800 CNA) 26,500 227,800 387,100 327,000 CNA) 13,400 131,900 247,100 199,300 49 33,413 273,900 1,390,410 948,545 32 23,171 156,665 398,554 278,555 27 17,623 124,335 355,346 243,769 74 54,832 462,083 1,140,837 687,799 64 31,893 261,864 727,116 459,198 CD) CD) CD) 28 12,877 100,814 359,834 224,693 18 19,594 106,193 474,411 341,282 18 8,481 54,263 151,400 100,968 10 4,794 26,423 63,544 44,598 5 1,698 13,469 21,381 17,569 1 DD CD) CD) CD) CNA) 63.0 67.6 63.1 66.0 CNA) 50.3 46.5 45.4 47.3 CNA) 54.2 56.7 56.4 59.1 (NA) 32.5 37.5 33.5 34.0 CNA) 21.0 21.4 21.1 21.9 (NA) (D) CD) (D) (D) (NA) 36.3 38.4 34.9 37.0 (NA) 70.7 66.5 76.0 75.9 CNA) 34.5 38.3 34.5 36.8 CNA) 15.9 15.9 18.5 16.8 CNA) 6.4 5.9 5.5 5.4 CNA) CD) CD) CD) CD) 2 EE (D) CD) CD) CD) CD) CD) FF CD) CD) CD) 1 EE CD) CD) CD) 1,412 13,959 39,009 26,201 CD) CD) CD) 3 1 316 8 772 ,487 2 624 1 DD CD) CD) (D) CNA) CD) (D) (D) (D) (NA) CD) CD) CD) CD) CNA) CD) CD) CD) CD) CNA) CD) CD) CD) CD) (NA) 0.9 1.1 1.1 1.3 (NA) (D) (D) CD) CD) CNA) 5.3 6.2 4.7 4.6 CNA) (D) (D) (D) (D) 4.1 (D) CD) (D) CD) 3.1 CD) CD) CD) CD) 14.8 CD) CD) (D) (D) 1.4 (D) CD) CD) (D) 4.7 4.4 5.3 5.4 5.7 3.6 (D) CD) CD) CD) 16.7 15.5 16.2 13.5 12.5 10.0 CD) CD) CD) CD) MERGERS AND ACQUISITIONS 65 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- lishments in industry Large establishments in industry All estab- lishments in industry Large establishments in industry Acquired during 1969 Acquired during 1970 Code Percent of all Percent Percent of all large estab- lishments (d) * (b) Percent of all Percent Percent Total estab- lishments Total of all estab- Total estab- lishments Total of all estab- of all estab- (b) + (a) lishments (d) + (a) (b) + (a) lishments (d) + fa) lishments (d) i (b) (a) (b) (c) (d) (e) (f ) (a) (b) (c) (d) (e) 'f) 2731 (NA) 51 (NA) 3 (NA) 5.9 (NA) 51 (NA) 2 (NA) 3.9 54,000 36,529 67.6 1,684 3.1 4.6 55,700 36,999 66.4 FF (D) (D) 437,500 315,351 72.1 14,574 3.3 4.6 479,300 339,295 70.8 (D) (D) (D) 2,267,600 1,536,490 67.8 66,755 2.9 4.3 2,437,300 1,609,431 66.0 (D) (D) (D) 1,500,000 1,077,514 71.8 44,749 3.0 4.2 1,703,900 1,113,941 65.4 (D) (D) (D) 2732 (NA) 33 (NA) 2 (NA) 6.1 (NA) 38 (NA) 3 (NA) 7.8 45,200 24,673 54.6 FF (D) (D) 47,000 27,763 59.1 GG (D) (D) 343,400 181,853 53.0 (D) (D) (D) 365,700 209,039 57.2 (D) (D) (D) 917,100 458,428 50.0 (D) (D) (D) 939,300 524,649 55.9 (D) (D) (D) 602,700 321,083 53.3 (D) (D) (D) 617,600 352,308 57.0 (D) (0) (D) 2741 (NA) 30 (NA) 3 (NA) 10.0 (NA) 30 (NA) - - - 34,400 20,089 58.4 FF (D) (D) 33,600 20,013 59.6 - - - 236,600 147,485 62.3 (D) (D) (D) 251,700 154,611 61.4 - - 667,800 412,649 61.8 (D) (D) (D) 724,900 447,529 61.7 - - _ 451,200 292,564 64.8 (D) (D) (D) 518,400 317,129 61.2 ' " ' 2751 (NA) 73 (NA) 9 (NA) 12.3 (NA) 76 (NA) - - - 173,500 54,316 31.3 4,803 2.8 8.8 176,800 53,707 30.4 - - - 1,323,100 495,412 37.4 45,901 3.5 9.3 1,382,200 514,292 37.2 - - _ 3,604,200 1,217,016 33.8 97,576 2.7 8.0 3,726,800 1,282,600 34.4 - - - 2,159,300 734,780 34.0 67,925 3.1 9.2 2,253,100 766,975 34.0 " ' " 2752 (NA) 72 (NA) 7 (NA) 9.7 (NA) 73 (NA) 1 (NA) 1.4 159,800 36,118 22.6 4,076 2.6 11.3 172,700 38,764 22.4 FF (D) (D) 1,357,600 314,433 23.2 35,172 2.6 11.2 1,504,200 345,334 23.0 (D) (D) (D) 3,860,700 899,507 23.3 93,546 2.4 10.4 4,155,100 951,511 22.9 (D) (D) (D) 2,382,300 552,246 23.2 57,892 2.4 10.5 2,546,100 571,266 22.4 (D) (D) (D) 2753 (NA) 1 (NA) - - - (NA) 1 (NA) 1 (NA) 100.0 10,100 EE (D) - - - 8,200 EE (D) EE (D) (D) 82,700 (D) (D) - - - 65,200 (D) (D) (D) (D) (D) 214,900 (D) (D) - - - 164,300 (D) (D) (D) (D) (D) 150,300 (D) (D) 130,000 - (D) (D) (D) (D) (D) 2761 (NA) 28 (NA) - - - (NA) 31 (NA) - - - 38,000 13,355 35.1 _ - - 38,300 13,554 35.4 - - - 294,600 107,884 36.6 - - - 306,600 111,950 36.5 - - - 1,167,200 388,761 33.3 - - - 1,233,200 417,981 33.9 - - - 676,200 240,264 35.5 ' 709,700 254,165 35.8 2771 (NA) 20 (NA) 1 (NA) 5.0 (NA) 19 (NA) - - - 28,200 19,706 69.9 EE (D) (D) 24,700 19,444 78.7 - - - 160,200 110,944 69.3 (D) (D) (D) 159,700 129,659 81.2 - - - 613,300 501,956 81.8 (D) (D) (D) 659,600 557,448 84.5 - - - 422,500 363,802 86.1 (D) (D) (D) 449,500 394,582 87.8 2782 (NA) 18 (NA) 2 (NA) 11.1 (NA) 15 (NA) - - - 24,200 8,498 35.1 EE (D) (D) 24 , 500 7,617 31.1 - - - 145,700 56,066 38.5 (D) (D) (D) 155,100 51,988 33.5 - - - 446,400 159,508 35.7 (D) (D) (D) 461,500 158,239 34.3 - - - 286,100 106,605 37.3 (D) (D) (D) 292,500 103,566 35.4 2789 (NA) 10 (NA) 2 (NA) 20.0 (NA) 12 (NA) - - - 31,200 4,591 14.7 FF (D) (D) 28,100 4,975 17.7 - - - 185,400 26,738 14.4 (D) (D) (D) 169,700 28,439 16.8 - - - 381,600 63,074 16.5 (D) (D) (D) 353,300 65,226 18.5 - - - 293,300 45,644 15.6 (D) (D) (D) 274,200 48,584 17.7 2791 (NA) 5 (NA) _ - - (NA) 5 (NA) 1 (NA) 20.0 27,100 1,644 6.1 - - - 29,500 1,489 5.0 DD (D) (D) 239,100 13,752 5.8 - - - 275,800 14,461 5.2 (D) (D) (D) 411,600 21,789 5.3 _ _ - 462,900 20,182 4.4 (D) (D) (D) 361,300 17,877 4.9 403,500 17,881 4.4 (D) (D) (D) 2793 (NA) 1 (NA) -- - - (NA) 1 (NA) - - - 13 , 800 DD (D) - - - 11,300 DD (D) - - - 150,400 (D) (D) - - - 118,200 (D) (D) - - - 274,600 (D) (D) - - - 219,100 (D) (D) - - - 222,300 (D) (D) - - - 180,500 (D) (D) - - - 66 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estab- lishments in industry (a) Large establishments in industry Perc^tit of all estab- lishments (b) * (a; Acquired In 1968 Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) T (b) (f) Electrotyping and stereotyping: Establishments number E>nployees do. . Payroll $1,000 Shipments c .do, , Value added do.. Alkalies and chlorine: Establishments number. Employees do... Payroll $1,000. Shipments do. . . Value added do... Industrial gases: Establishments number Employees do.. Payroll $1,000 Shipments do.. Value added. .do. . Cyclic intermediates, dyes, organic pigments flakes and toners), and cyclic (coal tar) crudes: Establishments number Employees do.. Payroll $1,000 Shipments do. . Value added do. . Inorganic pi^ents: Establishments number. Employees ..do... Payroll $1,000. Shipments do... Value added do. . . Industrial organic chemicals, n.e.c.j Establishments number. Employees do. . . Payroll $1,000. Shipments do. . . Value added do. . . Industrial inorganic chemicals, n.e.c: Establishments number Employees do. . Payroll. $1,000 Shipments do. . Value added do.. Plastics materials and synthetic resins, synthetic rub ber, synthetic and other man-made fibers, except glass: Establishment number Qnployees do.. Payroll $1,000 Shipments do.. Value added do. . Biological products: Establishments number E>nployees do.. Payroll $1,000 Shipments ..do.. Value added do. . Medicinal chemicals and botanical products: Establishments number Employees do.. Payroll $1,000 Shipments do. , Value added do. . Pharmaceutical preparations: Establishments number Qnployees do. . Payroll $1,000 Shipments do. . Value added do.. Soap and other detergents, except specialty cleaners Establishments number Employees do.. Payroll $1, 000 Shipments do. . Value added do. . 1 DD (D) (D) (D) 5 HH (D) (D) (D) 5 2,649 26,667 111,787 75,675 13 II (D) (D) (D) 1 DD (D) (D) (D) 8 HH (D) (D) (D) 1 EE (D) (D) (D) (NA) 3,400 31,500 67,400 52,400 (NA) 17,500 145,800 714,600 390,300 (NA) 9,800 79,900 679,200 493,100 (NA) 30,300 267,000 1,723,500 777,200 (NA) 13,000 104,700 622,800 357,500 (NA) 95,200 915,200 6,848,000 3,742,800 (NA) 80,100 680,000 4,323,400 2,257,300 (NA) 180,100 1,440,100 8,364,000 4,562,200 (NA) 8,100 60,000 179,400 127,700 (NA) 8,900 74,300 464,700 255,900 (NA) 104,300 888,000 5,114,400 4,056,200 (NA) 30,600 252,300 2,813,000 1,532,800 14 13,789 114,897 470,143 270,158 (D) (D) (D) 28 21,729 196,850 1,142,287 548,432 15 9,022 76,294 412,484 261,304 85 82,941 782,519 5,550,164 3,121,403 74 55,544 497,313 2,482,593 1,445,435 119 150,115 1,240,816 6,676,832 3,879,829 10 5,262 42,577 112,139 79,857 6 5,293 46,672 256,584 167,649 80 87,793 780,176 4,512,456 3,686,206 26 16,860 157,446 1,998,240 1,081,058 (NA) 78.8 78.8 65.8 69.2 (NA) (D) (D) (D) (D) (NA) 71.7 73.7 66.3 70.6 (NA) 69.4 72.9 66.2 73.1 (NA) 87.1 85.5 81.0 83.4 (NA) 69.3 73.1 57.4 64.0 (NA) 83.4 86.2 79.8 85.0 (NA) 65.0 71.0 62.5 62.5 (NA) 59.5 62.8 55.2 65.5 (NA) 84.2 87.9 88.2 90.9 (NA) 55.1 62.4 71.0 70.5 1 FF (D) (D) (D) 3 2,287 19,842 102,096 41,692 (NA) (D) (D) (D) (D) (NA) 1.3 1.4 1.2 0.9 1.4 (D) (D) (D) (D) 2.5 1.5 1.6 1.5 1.1 See footnotes at end of table. MERGERS AND ACQUISITIONS b7 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All Large establishments in industry All Large establishments in Industry Acquired during 1969 Acquired during 1970 estab- lishments m industry Percent of all estab- lishments in industry Percent of all Code Percent Percent of all large estab- lishments (d) + (b) Percent Percent Total estab- lishments Total of all estab- Total estab- lishments Total of all estab- of all estab- (b) 4 (a) lishments (d) + (a) (b) + (a) lishments (d) + (a) lishments (d) * (b) (a) (b) (c) (d) (e) (f ) (a) (b) (c) (d) (e) (f) 2794 (NA) - - - - - (NA) - - _ - - 3,300 - - - ~ - 3,200 - - - - - 31,200 - - - - 24,100 - - - _ - 68,800 - - - - - 54,900 - _ _ - _ 53,600 42,100 " " " 2812 (NA) 14 (NA) 1 (NA) 7.1 (NA) 13 (NA) - - _ 16,200 13,096 80.8 DD (D) (D) 14,700 11,767 80.0 - - _ 146,000 118,713 81.3 (D) (D) (D) 141,300 114,078 80.7 _ _ _ 705,400 485,120 68.8 (D) (D) (D) 660,300 466,824 70.7 - _ _ 382,700 272,866 71.3 (D) (D) (D) 360,200 256,231 71.1 " " " 2813 (NA) 2 (NA) - - - (NA) 2 (NA) - - - 9,800 EE (D) - - - 8,400 FF (D) - - - 83,400 (D) (D) - - - 72,200 (D) (D) - _ _ 704,700 (D) (D) - - - 665,000 (D) (D) - - - 509,700 (D) (D) 485,300 (D) (D) 2815 (NA) 27 (NA) _ _ _ (NA) 27 (NA) _ _ _ 31,100 21,754 69.9 - - - 30,200 20,450 67.7 - - - 291,700 211,136 72.4 - - - 293,500 206,099 70.2 - - - 1,847,900 1,122,415 60.7 - - - 1,792,200 1,089,961 60.8 _ _ _ 880,600 551,030 62.6 ~ ~ ~ 860,000 536,018 62.3 - - - 2816 (NA) 16 (NA) - - - (NA) 16 (NA) - - - 13,400 9,586 71.5 - - - 13,400 9,584 71.5 - - - 116,800 88,554 75.8 - - 122,900 92,309 75.1 - - _ 658,500 451,387 68.5 - - . - 635,200 412,796 65.0 - - _ 368,200 284,088 77.2 " ~ 332,700 250,756 75.4 ~ " ~ 2818 (NA) 84 (NA) 2 (NA) 2.4 (NA) 81 (NA) 3 (NA) 3.7 103,900 84,169 81.0 GO (D) (D) 101,900 81,120 79.6 5,691 5.6 7.0 1,026,000 838,473 81.7 (D) (D) (D) 1,070,600 872,660 81.5 51,989 4.9 5.9 7,383,000 5,570,234 75.4 (D) (D) (D) 7,373,800 5,582,950 75.7 152,192 2.1 2.7 4,077,500 3,173,905 77.8 (D) (D) (0) 3,974,900 3,137,420 78.9 115,714 2.9 3.6 2819 (NA) 79 (NA) 2 (NA) 2.5 (NA) 76 (NA) 2 (NA) 2.6 85,800 58,123 67.7 EE (D) (D) 83,600 56,577 67.7 EE (D) (D) 791,600 560,241 70.8 (D) (D) (D) 809,300 566,218 70.0 (D) (D) (D) 4,625,900 2,657,973 57.5 (D) (D) (D) 4,768,700 2,845,235 59.7 (D) (D) (D) 2,499,100 1,554,088 62.2 (D) (D) (D) 2,608,000 1,786,305 68.5 (D) (D) (D) 282- (NA) 131 (NA) 7 (NA) 5.3 (NA) 133 (NA) 3 (NA) 2.3 186,000 160,841 86.5 HH (D) (D) 187,400 157,111 83.8 2,776 1.5 1.8 1,559,100 1,354,880 86.9 (D) (D) (D) 1,625,100 1,388,093 85.4 21,638 1.3 1.6 8,744,400 7,309,317 83.6 (D) (D) (D) 8,785,700 7,039,931 80.1 101,736 1.2 1.4 4,717,900 4,131,872 87.6 (D) (D) (D) 4,630,000 3,837,494 82.9 36,626 0.8 1.0 2831 (NA) 11 (NA) - - - (NA) 11 (NA) - - - 8,600 5,687 66.1 - - - 9,100 5,907 64.9 - - - 66,900 47,662 71.2 - - - 78,000 54,248 69.5 - - - 213,300 135,933 63.7 - _ - 236,700 150,069 63.4 - - - 147,700 87,292 59.1 " 163,900 99,244 60.6 " 2833 (NA) 7 (NA) - - - (NA) 8 (NA) 1 (NA) 12.5 9,000 5,586 62.1 - - - 9,900 6,093 61.5 DD (D) (D) 79,800 51,245 64.2 _ - - 93,600 61,938 66.2 (D) (D) (D) 485,500 294,678 60.7 - - - 528,300 294,110 55.7 (D) (D) (D) 261,700 184,314 70.4 291,900 173,067 59.3 (D) (D) (D) 2834 (NA) 82 (NA) 4 (NA) 4.8 (NA) 82 (NA) 4 (NA) 4.8 107,900 91,268 84.6 HH (D) (D) 111,700 91,144 81.6 2,020 1.8 2.2 995,800 887,468 89.1 (0) (D) (D) 1,134,600 987,232 87.0 21,198 1.9 2.1 5,529,000 5,035,133 91.1 (D) (D) (D) 6,027,800 5,232,373 86.8 70,263 1.2 1.3 4,343,400 4,103,374 94.5 (D) (D) (0) 4,748,100 4,196,069 88.4 58,300 1.2 1.3 2841 (NA) 26 (NA) 1 (NA) 3.8 (NA) 28 (NA) - - - 30,700 16,876 55.0 EE (D) (D) 31,100 18,126 58.3 - - - 268,500 168,300 62.7 (D) (D) (D) 284,000 192,312 67.7 - - - 2,886,600 2,078,381 72.0 (D) (D) (D) 2,988,700 2,175,816 72.8 - - - 1,545,400 1,111,258 71.9 (D) (D) (D) 1,659,900 1,191,077 71.8 - - - 68 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and Item AH large estab- lishmenvs acquired during 1968-1970 All estab- lishments In • Industry (a) Large establishments in industry (b) Percent of all estab- lishments (b) * (a) (c) Acquired In 1968 (d) Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) T (b) (f) Specialty cleaning, polishing, and sanitation preparations, except soap and detergents: Establishments number Employees do . . Payroll $1,000 Shipments do . . Value added do . . Surface active agents, finishing agents, sulfonated oils and assistants: Establishments number Employees do . . Payroll $1,000 Sh ipments do . . Value added do . . Perfumes, cosmetics, and other toilet preparations: Establishments number Employees do . . Payroll $1,000 Shipments do . . Value added do . . Paints, varnishes, lacquers, enamels, and allied products : Establishments number Employees do . . Payroll $1,000 Shipments do . , Value added do . . Gum and wood chemicals: Establ ishments number Employees do. . Payroll $1,000 Shipments do. . Value added do . . Fertilizers ; Establ ishments number Employees do, . Payroll $1 ,000 Shipments do . . Value added do . . Fertilizers, mixing only: Establishments number Employees do . . Payroll $1,000 Shipments do , . Value added do . . Agricultural pesticides, and other agricultural chemicals, n.e.c.: Establishments number Employees do . . Payroll $1,000 Sh ipments do . . Value added do . . Adhesives and gelatin: Establ ishments number Employees do . . Payroll $1,000 Shipments do . . Value added do . . Explos Ives : Establishments number Employees do . . Payroll $1,000 Sh ipments do , . Value added do, . Printing ink: Establishments number Employees do.. Payroll $1,000 Sh ipments do . . Value added do . . Carbon black: Establishments number Employees do . . Payroll $1,000 Shipments do . . Value added do . . (D) (D) (D) 1 DD (D) (D) (D) nployees do... Payroll $1,000. Shipments do. . . Value added do... Lubricating oils and greases: Establishments number. li^ployees do.,. Payroll $1,000, Shipments do, , , Value added do... Products of petroleum and coal, n.e.c: Establishments number. Dnployees do... Payroll $1,000. Shipments do... Value added do, . . Tires and inner tubes: Establishments number . Employees do... Payroll $1,000. Shipments do... Value added do. . . Rubber footwear : Establishments number . Employees do... Payroll $1,000. Shipments do... Value added do... Reclaimed rubber: Establishments number. Employees do... Payroll $1,000. Shipments do... Value added do. . . Fabricated rubber products, n.e.c: Establishments number . Employees do.,. Payroll $1,000, , Shipments do,,,< Value added do, , , , Miscellaneous plastics products: Establishments number, . Bnployees do, , , , Payroll $1,000. . Shipments do..., Value added ,do,,,. Leather tanning and finishing: Establishments number, . Employees do.,,. Payroll $1,000, , Shipments do.,,. Value added do,.., See footnotes at end of table. 2 FF (D) (D) (D) (D) (D) (D) 1 DD (D) (D) (D) (D) (D) (D) 17 10,942 71,092 226,301 126,957 38 17,132 118,407 345,442 206,694 5 FF (D) (D) (D) (NA) 35,300 262,000 1,570,500 842,200 (NA) 107,300 1,028,300 21,395,000 4,797,000 (NA) 12,500 95,300 641,900 259,800 (NA) 13,700 101,500 633,100 234,600 (NA) 7,400 61,200 507,800 219,800 (NA) 1,100 7,500 84,500 26,900 (NA) 98,500 915,800 ,268,700 ,101,600 (NA) 30,400 155,800 443,900 253,200 (NA) 1,700 13,300 48,300 26,000 (NA) 144,100 1 , 007 , 000 3,397,400 1,902,800 (NA) 274,500 1,662,700 6,394,900 2,569,300 (NA) 31,700 198,200 883,000 354,200 22 11,090 86,563 487,880 287,727 111 88,023 856,825 17,618,968 3,997,400 DD (D) (D) 6 2,713 22,437 108,172 48,606 2 EE (D) (D) (D) 58 93,055 877,911 4,042,093 2,000,428 29 26,671 138,503 395,473 228,441 2 EE (D) (D) (D) 133 99,494 716,966 2,272,302 1,296,889 196 97,174, 639,917 2,372,968 1,386,504 29 11,582 80,812 319,448 131,377 (NA) 31,4 33,0 31.1 34.2 (NA) 82.0 83.3 82.4 83.3 (NA) (D) (D) (D) (D) (NA) 19.8 22.1 17.1 20.7 (NA) (D) (D) (D) (D) (NA) 94.5 95.9 94,7 95,2 fNA) 87,7 88.9 89.1 90.2 (NA) (D) (D) (D) (D) (NA) 69,0 71.2 66.9 68.2 (NA) 35.4 38.5 37.1 54.0 (NA) 36.5 40.8 36.2 37.1 (D) (D) (D) 1 DD (D) (D) (D) (D) (D) (D) 6 3,593 22,381 66,082 44,743 12 5,468 35,565 107,921 69,684 1 DD (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) 2.5 2.2 1.9 2.4 (NA) 2,0 2,1 1,7 2.7 (NA) (D) (D) (D) (D) 4.5 (D) (D) (D) (D) 0,9 (D) (D) (D) (D) 1.7 (D) (D) (D) (D) 4.5 3.6 3.1 2,9 3.5 6.1 5.6 5,6 4.5 5.0 3,4 (D) (D) (D) (D) I MERGERS AND ACQUISITIONS 71 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- lishments Large establishments In industry All estab- lishments in industry Large establishments in industry Percent of all Acquired during 1969 Percent of all Acquired during 1970 PriHai Percent Percent of all large estab- lishments (d) 4 (b) Percent Percent uoa© in industry Total estab- lishments Total of all estab- Total estab- lishments Total of all estab- of all estab- (b) 4 (a) lishments (d) + (a) (b) + (a) lishments (d) -f fa) lishments (d) •;. (b) (a) (b) (c) - (d) (e) (f ) (a) (b) (c) (d) (e) 't) 2899 (NA) 22 (NA) - - - (NA) 20 (NA) 1 (NA) 5.0 34,900 11,469 32.9 - - ■ - 35,400 10,630 30.0 EE (D) (D) 275,300 95,931 34.8 - - - 293,200 90,400 30.8 (D) (D) (D) 1,557,000 558,684 35.9 - - - 1,663,400 431,989 26.0 (D) (D) (D) 771,400 322,220 41.8 901,700 232,336 25.8 (D) (D) (D) 2911 (NA) 110 (NA) 5 (NA) 4.5 (NA) 109 (NA) 8 (NA) 7.3 107,700 88,321 82.0 2,745 2.5 3.1 108,500 89,974 82.9 5,394 5.0 5.9 1,087,500 910,709 83.7 26,902 2.5 2.9 1,148,700 969,668 84.4 58,258 5.1 6.0 22,470,000 18,521,473 82.4 606,019 2.7 3.2 22,737,900 18,685,094 82.2 1,153,897 5.1 6.1 4,945,600 4,115,159 83.2 116,666 2.4 2.8 4,561,000 3,746,421 82.1 181,752 4.0 4.8 2951 (NA) 2 (NA) - - - (NA) 2 (NA) - - - 11,600 EE (D) - - - 13,300 EE (D) - - - 97,900 (D) (D) - - - 118,100 (D) (D) - - - 650,200 (D) (D) - - - 745,800 (D) (D) - - - 270,700 (D) (D) 326,100 (D) (D) 2952 (NA) 6 - - - ~ (NA) 4 (NA) - - - 14,100 2,711 - - - 14,800 2,060 13.9 - - - 111,300 23,525 - - - 114,800 17,968 15.7 _ _ _ 676,100 108,697 - - _ - 689,900 80,653 11.7 _ _ - 263,100 48,962 260,900 39,711 15.2 2992 (NA) 2 (NA) - - - (NA) 1 (NA) - - - 7,200 EE (D) - - - 7,800 DD (D) - - - 62,500 (D) (D) - - - 75,000 (D) (D) - - - 514,500 (D) (D) - - - 553,500 (D) (D) - - - 211,800 (D) (D) 255,200 (D) (D) 2999 (NA) _ - - - - (NA) - - - _ - 1,300 _ - - - - 1,500 - - - - - 8,700 - - - - - 10,900 - - - - 100,600 - - _ - - 119,000 - - - - 33,400 40,700 3011 (NA) 62 (NA) - - - (NA) 65 (NA) - - 102,800 98,150 95.5 - - - 103,200 98,194 95.1 - - - 1,002,900 968,978 96.6 - - - 969,400 931,912 96.1 - - 4,716,800 4,494,918 95.3 - - - 4,587,200 4,379,222 95.5 - - - 2,300,200 2,215,066 96.3 2,364,600 2,275,634 96.2 _ 3021 (NA) 35 (NA) 1 (NA) 2.9 (NA) 31 (NA) 1 (NA) 3.2 29,200 26,855 92.0 EE (D) (D) 29,500 25,151 85.3 EE (D) (D) 153,100 141,233 92.2 (D) (D) (D) 164,800 141,908 86.1 (D) (D) (D) 466,900 425,227 91.1 (D) (D) (D) 515,000 435,063 84.5 (D) (D) (D) 278,900 254,559 91.3 (D) (D) (D) 285,100 248,274 87.1 (D) (D) (D) 3031 (NA) 2 (NA) - - - (NA) 2 (NA) - - - 1,600 EE (D) - - - 1,600 EE (D) - - - 12,500 (D) (D) - - - 11,800 (D) (D) - - - 44,800 (D) (D) - - - 41,400 (D) (D) - - - 22,300 (D) (D) " " " 18,800 (D) (D) ' 3069 (NA) 133 (NA) 6 (NA) 4.5 (NA) 120 (NA) 5 (NA) 4.1 146,300 100,146 68.5 3,651 2.5 3.6 129,100 89,873 69.6 3,698 2.9 4.1 1,054,800 750,563 71.2 24,415 2.3 3.3 990,700 706,234 71.3 24,206 2.5 3.4 3,513,300 2,344,531 66.7 74,885 2.1 3.2 3,251,400 2,158,568 66.4 85,334 2.6 3.9 1,997,800 1,378,678 69.0 51,311 2.6 3.7 1,835,800 1,235,345 67.3 30,903 1.7 2.5 3079 (NA) 218 (NA) 16 (NA) 7.3 (NA) 190 (NA) 10 (NA) 5.3 290,100 105,373 36.3 6,836 2.4 6.4 284,200 92,574 32.6 4,828 1.7 5.2 1,816,300 715,592 39.4 43,910 2.4 6.1 1,858,000 661,180 35.6 38,932 2.1 5.9 6,986,600 2,614,591 37.4 126,574 1.8 4.8 6,992,800 2,429,575 34.7 110,947 1.6 4.6 3,896,100 1,534,579 39.4 74,250 1.9 4.8 3,955,200 1,423,028 36.0 62,760 1.6 4.4 3111 (NA) 23 (NA) - - - (NA) 22 (NA) 4 (NA) 18.2 28,900 9,413 32.6 - - - 23,700 8,243 34.8 1,192 5.0 14.5 188,500 69,473 36.9 _ _ _ 169,200 62,549 37.0 8,483 5.0 13.6 860,100 276,809 32.2 - - - 793,300 248,239 31.3 37,692 4.8 15.2 317,200 111,485 35.1 - - - 318,400 110,990 34.9 16,423 5.2 14.8 72 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item Industrial leather belting and packing: Establishments number Employees do. . Payroll $1 ,000 Shipments do. . Value added do. . Boot and shoe cut stock and findings: Establishments number Employees do.. Payroll $1 ,000 Shipments do.. Value added do.. Footwear, except house slippers and rubber footwear: Establishments number Employees do. . Payroll $1,000 Shipments do.. Value added do. . House slippers: Establishments number Employees do.. Payroll $1,000 Shipments do . . Value added do.. Leather gloves and mittens: Establishments number Employees do.. Payroll $1 ,000 Shipments do. . Value added do.. Luggage: Establishments number Employees do.. Payrol I $1 , 000 Shipments do. . Value added do. . Women's handbags and purses: Establishments number Employees do. . Payroll $1 ,000 Shipments do.. Value added do.. Personal leather goods, except women's handbags and purses: Establishments number Employees do.. Payroll $1,000 Shipments do.. Value added do. . Leather goods, n.e.c. Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do. . Flat glass; Establishments .number Employees do. . Payroll $1,000 Shipments do. , Value added • do.. Glass containers: Establishments number Employees do.. Payrol 1 $1 , 000 Shipments do.. Value added do. . Pressed and blown glass and glassware, n.e.c: Establishments number Employees do. . Payroll $1,000 Shipments do.. Value added do. . See footnotes at end of table. All large estab- lishments acquired during 1968-1970 44 20,363 99,128 278,189 162,600 1 DD (D) (D) (D) 7 2,274 9,941 31,332 17,052 1 DD CD) (D) (D) (D) (D) (D) 1 DD (D) (D) (D) 1 DD (D) (D) CD) 13 9,536 68,838 206,724 137,808 2 FF CD) CD) CD) All estab- lishments in industry Cna) 2,700 16,400 51,700 30,700 CNA) 13,800 62,200 261,700 122,100 CNA) 203,800 923,400 3,031,600 1,727,600 CNA) 11,700 53 , 900 171,400 90,300 CNA) 6,300 23,700 95,600 39,400 CNA) 19,800 93 , 800 329,000 187,800 (NA) 26,000 120,200 361,900 199,700 CNA) 12,600 62,400 197,500 115,600 CNA) 6,100 26 , 900 97,000 45,600 CNA) 21,900 194,800 674,200 474,500 CNA) 64,000 436,100 1,412,800 905,000 CNA) 44,500 291,300 984,700 721,700 Large establishments in industry 3 FF CD) CD) CD) 361 153,361 709,535 2,359,664 1,343,515 12 4,389 21,673 68,106 40,640 CD) CD) CD) 12 8 730 44 478 164 841 100 394 12 4 629 21 794 64 679 34 194 7 4,554 25,025 76,842 46,648 2 EE CD) CD) CD) 24 20,955 187,988 650,319 464,036 91 59,663 406,723 1,306,248 847,464 49 36,886 247,071 860,464 633,371 Percent of all estab- lishments (b) * (a) (c) CNA) CD) CD) CD) CD) CNA) 75.3 76.8 77.8 77.8 CNA) 37.5 40.2 39.7 45.0 CNA) CD) CD) CD) CD) (NA) 44.1 47.4 50.1 53.5 CNA) 17.8 18.1 17.9 17.1 CNA) 36.1 40.1 38.9 40.4 CNA) CD) CD) CD) CD) CNA) 95.7 96.5 96.5 97.8 CNA) 93.2 93.3 92.5 93.6 CNA) 82.9 84.8 87.4 87.8 Acquired in 1968 (d) 13 5,990 27,291 76,304 43,664 CD) (D) (D) CD) CD) CD) EE CD) CD) CD) Percent of all estab- lishments (d) f (a) (e) CNA) 2.9 3.0 2.5 2.5 (NA) CD) CD) CD) CD) CNA) CD) (D) CD) CD) CNA) CD) CD) CD) CD) Percent of all large estab- lishments (d) T (b) (f) 3.6 3.9 3.8 3.2 3.2 25.0 CD) CD) CD) CD) 1.1 CD) CD) CD) CD) 2.0 CD) CD) CD) CD) MERGERS AND ACQUISITIONS 73 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- lishments Large establishments in Industry All estab- lishments in industry Large establishments in industry Percent of all Acquired during 19S9 Percent of all Acquired during 1970 Code Percent Percent of all large estab- lishments (d) + (b) Percent Percent in Industry Total estab- lishments Total of all estab- ■ Total estab- lishments Total of all estab- of all estab- (b) + (a) lishments (d) 4 (a) (b) + (a) lishments (d) 4 fa) lishments (d) 4 (b) (a) (b) (c) (d) (e) (f ) (a) (b) (c) (d) (e) (f ) 3121 (NA) 2 (NA) - - - (NA) 2 (NA) - - - 2,500 FF (D) - - - 2,100 DD (D) - - - 16,900 (D) (D) - - - 15,100 (D) (D) - _ _ 56,100 (D) (D) - - - 50,400 (D) (D) - - _ 34,000 (0) (D) 30,200 (D) (D) " 3131 (NA) - - - - - (NA) 2 (NA) - - - 16,600 - - - - - 12,500 EE (D) _ _ _ 65,500 - - - - - 64 , 300 (D) .(D) - - - 269,400 - - - - - 247,000 (D) (D) - - - 120,800 110,400 (D) (D) 3141 (NA) 347 (NA) 19 (NA) 5.5 (NA) 326 (NA) 12 (NA) 3.7 199,100 146,350 73.5 8,796 4.4 6.0 181,600 136,858 75.4 5,577 3.1 4.1 934,600 704,933 75.4 44,479 4.8 6.3 901,400 684,830 76.0 27,358 3.0 4.0 3,067,000 2,329,151 75.9 125,793 4.1 5.4 2,972,800 2,283,048 76.8 76,092 2.6 3.3 1,750,400 1,344,697 76.8 75,661 4.3 5.6 1,658,300 1,268,869 76.5 43,275 2.6 3.4 3142 (NA) 12 (NA) 1 (NA) 8.3 (NA) 14 (NA) - - - 11,500 4,376 38.1 DD (D) (D) 11,300 5,348 47.3 - - - 54,400 22,782 41.9 (D) (D) (D) 54,100 28,168 52.1 _ _ . 179,000 75,634 42.3 (D) (D) (D) 175,300 90,930 51.9 - - 99,100 47,031 47.5 (D) (D) (D) 101,100 56,767 56.1 ' 3151 (NA) 2 (NA) - - - (NA) 1 (NA) - - - 6,000 EE (D) - - - 5,400 DD (D) - - - 23,200 (D) (D) - - - 21,600 (D) (D) - - - 91,800 (D) (D) - _ - 96,400 (D) (D) - - - 35,500 (D) (D) 46,900 (D) (D) 3161 (NA) 14 (NA) 3 (NA) 21.4 NA ' 5 .9 1 5 , 300 10,285 67.2 - - - 15,000 10,137 67.6 DD ,0 ' D ^ 123,800 85,230 51.4 - - - 125,500 88,432 70.5 D ' vD ' D ' 539,700 374,021 69.3 - - - 524 , 900 376,368 71 .7 a'' D ' , D ' 315,500 214,245 67.9 302,600 216,857 71.7 iD' >Dl D ' 3297 NA , 13 'NA) - - - INA ) 13 vNA ) - - - 9 , 400 5,420 57.7 - - - 9,900 5,359 54 .1 - _ - 77,400 44,967 58.1 - - - 84,200 46,846 55.6 - - _ 347,500 176,956 50 .9 - - - :i5:t,H00 173,567 49.1 - - - 185,800 97 , 930 52.7 1 99 , 200 93,651 47.0 3299 NA J 1 'NA) - - (NA) 1 vV,\) - - - 4,600 DO '») - - - 4,200 DO U'^ - - - 28,600 '"/ '!)) - - - 29,900 vD> ^u) - - - 101,600 ) - - - 78 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establishments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estab- lishments in industry (a) Large establishments in industry Percent of all estab- lishments (b) 4 (a: (c) Acquired In 1968 (d) Percent of all estab- lishments (d) T (a) (e) Percent of all large estab- lishments (d) T (b) (f) Blast furnaces, steel works, and rolling and finishing mills : Establishments number. Employees » do. . . Payroll $1,000. Shipments do. . . Value added do. . . Gray iron foundries : Establishments number. Employees do... Payroll $1,000. Shipments do. . . Value added do... Malleable iron foundries: Establishments number. Employees do... Payroll $1 , 000 . Shipments , , do. . , Value added do. . . Steel foundries : Establishments number. Empl oyees do... Payroll $1,000. Shipments do. . . Value added do... Primary smelting and refining of copper; Establishments number. Employees do... Payroll $1,000. Shipments do. . . Value added do. . . Primary smelting and refining of lead: Establishments number. Employees do. . . Payrol 1 $1 , 000 . Shipments do, . . Value added do. . . Primary smelting and refining of zinc: Establishments number. Employees do. . . Payroll $1,000. Shipments do. . . Value added do. . . Primary production of aluminum: Establishments number. Employees do. . . Payroll $1 ,000. Shipments do. . . Value added do. . . Primary smelting and refining of nonferrous metals , n.e.c. : Establishments number. Employees do . . . Payroll $1 ,000 . Shipments do. . . Value added do . . . Secondary smelting and refining of nonferrous metals: Establishments number. Empl ovees do . . . Payroll $1,000. Shipments do. . . Value added do. . . Rolling, drawing, and extruding of nonferrous metals: Establishments number. Employees do, . . Payroll $1 , 000 , Shipments do. . , Value added do . . . Aluminum castings: Establishments number, Empl oyees do . . . Payroll $1,000 Shipments do. . Value added do. . . 52 74,476 689,695 2,924,112 1,248,548 (D) (D) (D) EE (D) (D) $1,000, Shipments do,,. Value added do,.. Watches, clocks, clockwork operated devices, and parts except watchcases: Establishments .,, number Employees do,. Payroll $1,000 Shipments do . , Value added do , , Watchcases : Establishments number Employees ,.... .•,.,do.. Payroll $1,000 Shipments • do.. Value added , . , , do , , Jewelry, precious metal: Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do , . Jewelers* findings and materials; Establishments number Employees do.. Payroll $1,000 Shipments do.. Value added do. . Lapidary work: Establishments. ,,,, number Employees do, , Payrol 1 , $1 , 000 Shipments do,. Value added , do,. See footnotes at end of table. 6 5,151 34,157 100,262 70,544 2 EE (D) (D) (D) EE (D) (D) (D) 2 EE (D) (D) (D) (D) (D) (D) (D) (D) (D) FF (D) (D) (D) 6,025 40,347 133,021 70,501 (D) (D) (D) FF (D) (D) (D) (NA) 32,800 229,300 673,100 463,800 (NA) 22,200 182,200 433,400 298,500 (NA) 23,700 152,600 510,300 334,900 (NA) 38,800 257,100 963,200 608,200 (NA) 10,800 73,500 245,800 153,600 (NA) 24 , 200 143,500 438,300 299,100 (NA) 90,400 822,000 3,915,100 2,561,200 (NA) 35,100 206,900 833,400 439,300 (NA) 3,900 23,400 63,800 41,400 (NA) 32,300 213,700 884,700 420,300 (NA) 5,500 32,800 153,500 60,600 (NA) 1,800 11,400 99,400 30,000 27 30,493 214,803 604,363 415,004 17 14,256 125,054 293,648 201,712 22 11,514 79,004 268,950 172,719 30 20,316 141,509 543,946 353,633 12 5,573 37,281 119,744 86,332 21 16,125 97,879 290,4 79 214,006 46 77,943 737,327 3,612,167 2,353,743 29 29,362 176,211 730,100 357,810 4 2,200 12,664 32,458 21,855 16 8,613 56,739 170,412 110,517 2 EE (D) (D) (D) (NA) 93.0 93.7 89.8 89.5 (NA) 64.2 68.6 67.8 67.6 (NA) 48.6 51.8 52.7 51.6 (NA) 52.4 55.0 56,5 58,1 (NA) 51,6 50.7 48,7 36,2 (NA) 66,6 68,2 66,3 71,5 (NA) 86,2 89,7 92,3 91,9 (NA) 83,7 85,2 82,6 81,5 (NA) 56,4 54,1 50,9 52,8 (NA) 26,7 26,6 19,3 26,3 (NA) (D) (D) (D) (D) 3 2,677 17,434 50,845 37,046 DD (D) (D) (D) 1 DD (D) (D) (D) 2 EE (D) (D) (D) 3 1 682 8 039 24 745 13 288 DD (D) (D) (D) (NA) 8.2 7,6 7,6 8,0 (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) 4,8 3.9 2,8 3,0 (NA) (D) (D) (D) (D) 11.1 8.8 8.1 8,4 8,9 4,5 (D) (D) (D) (D) 3.3 (D) (D) (D) 4.3 (D) (D) (D) (D) 10.3 5.7 4.6 3,4 3,7 25.0 (D) (D (D) (D) MERGERS AND ACQUISITIONS 97 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All Large establishments in Industry All Large establishments in industry Acquir ed during 1969 Acquired during 1970 estab- estab- Code Percent Percent lishments Percent lishments In of all Percent of all in of all Percent Percent Total estab- of all Total estab- of all of all Industry lishments (b) + (a) Total estab- • lishments large estab- lishments Industry lishments (b) t (a) Total estab- lishments estab- lishments (d) 4 (b) (d) + (a) (d) 4 nployees do. . Payroll $1,000 Shipments do. . Value added do.. Games and toys, except dolls and children' s vehicles Establishments number Qnployees do. . Payroll $1,000 Shipments do. . Value added do.. Dolls: Establishments number Qnployees do.. Payroll $1,000 Shipments do. . Value added do. . Children's vehicles, except bicycles: Establishments number Qnployees do.. Payroll $1,000 Shipments do. . Value added c . » do. . Sporting and athletic goods, n.e.c: Establishments number Employees .» do. , Payroll $1,000 Shipments do. . Value added do. . Pens, pen points, fountain pens, ball point pens, mechanical pencils, and parts: Establishments number Employees do.. Payroll..' $1,000 Shipments .do. . Value added do.. Lead pencils, crayons, and artists' materials: Establishments number Employees do.. Payroll $1,000 Shipments do.. Value added do. . Marking devices: Establlshinents number Employees do.. Payroll $1,000 Shipments do. . Value added do. . Carbon paper and inked ribbons : Establishments number Employees do. . Payroll $1,000 Shipments do. . Value added do.. Costume Jewelry and costume novelties, except precious metal: Establishments number Qnployees do.. Payroll $1,000 Shipments do. . Value added do. , Feathers, plumes, and artificial flowers: Establishments number Bnployees .do. . Payroll $1,000 Shipments do. . Value added do. . 2 (NA) EE 14,700 (D) 98,000 (D) 354,100 (D) 205,900 11 (NA) 4 334 23,700 31 116 146,800 98 068 455,500 51 339 248,800 12 (NA) HH 58,900 (D) 296,900 (D) 1,246,000 (D) 726,900 (NA) - 12,300 - 51,500 - 168,300 - 85,800 (NA) - 4,400 - 23,700 - 100,300 - 48,200 6 (NA) 1 842 48,500 11 318 261,600 39 541 975,400 25 914 530,600 4 (NA) 1 341 11,800 6 730 64,800 26 114 221,000 15 759 149,600 1 (NA) EE 7,800 (D) 45,200 (D) 165,200 (D) 82,400 . (NA) - 8,800 - 57,700 _ 150,000 - 97,600 (NA) - 6,000 - 41,800 - 208,400 - 89,300 4 (NA) 1 519 22,300 7 280 113,200 32 204 398,400 21 395 231,800 (NA) _ 5,200 _ 21,600 - 91,600 - 44,600 13 9,351 66,580 242,365 141,782 28 15,062 94,589 308,685 159,542 46 38,030 197,240 832,673 502,218 6 2,084 9,303 38,602 19,731 6 2,665 15,044 61,548 31,281 39 18,846 110,271 383,087 209,058 14 8,227 49,145 151,776 113,340 3,808 23,874 82,410 42,358 5 1,584 11,438 26,832 15,555 5 1,633 10,929 50,217 22,922 14 7,421 46,717 149,532 94,309 (NA) 63.6 67.9 68.4 68.9 (NA) 63.6 64.4 67.8 64.1 (NA) 64.6 66.4 66.8 69.1 (NA) 16.9 18.1 22.9 23.0 (NA) 60.6 63.5 61.4 64.9 (NA) 38.9 42.2 39.3 39.4 (NA) 69.7 75.8 68.7 75.8 (NA) 48.8 52.8 49.9 51.4 (NA) 18.0 19.8 17.9 15.9 (NA) 27.2 26.1 24.1 25.7 (NA) 33.3 41.3 37.5 40.7 2 EE (D) (D) (D) 5 2 153 12 737 60 220 34 068 1 DD (D) (D) (D) 2 EE (D) (D) (D) 1 EE (D) (D) (D) 2 EE (D) (D) (D) (NA) (D) (D) (D) (NA) 3.7 4.3 4.8 4.7 (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) (NA) (D) (D) (D) (D) 7.1 (D) (D) (D) (D) 10.9 5.7 6.5 7.2 6.8 2.6 (D) (D) (D) (D) 14.3 (D) (D) (D) (D) 12.5 (D) (D) (D) (D) 14.3 (D) (D) (D) (D) See footnotes at end of table. MERGERS AND ACQUISITIONS 99 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- lishments in industry Large establishments in industry All estab- lishments in industry Large establishments in industry Percent of all Acquired during 1969 Percent of all Acquired during 1970 Code Percent Percent of all large estab- lishments (d) + (b) Percent Percent Total estab- lishments (b) + (a) Total of all estab- lishments (d) + (a) Total estab- lishments (b) 4 (a) Total of all estab- lishments (d) + (a) of all estab- lishments (d) i (b) (a) (b) (c) (d) (e) (f) (a) (b) (c) (d) (e) (t) 3914 (NA) 10 (NA) 1 (NA) 10.0 (NA) 10 (NA) 1 (NA) 10.0 14 , 900 8,475 56.9 DD (D) (D) 12,700 7,486 58.9 DD (D) (D) 102,800 63,015 61.3 (D) (D) (D) 89,600 56,837 63.4 (D) (D) (D) 369,800 228,069 61.7 (D) (D) (D) 316,100 199,253 63.0 (D) (D) (D) 216,200 134,122 62.0 (D) (D) (D) 169,200 102,112 60.3 (D) (D) (D) 3931 (NA) 27 (NA) 4 (NA) 14.8 (NA) 25 (NA) 5 (NA) 20.0 24,500 14,657 59.8 FF (D) (D) 21,100 12,700 60.2 2,299 10.9 18.1 154,600 97,863 63.3 (D) (D) (D) 142,100 85,893 60.4 17,181 12.1 20.0 497,300 306,229 61.6 (D) (D) (D) 478,900 276,019 57.6 56,870 11.9 20.6 279,100 172,963 62.0 (D) (D) (D) 265,100 146,168 55.1 29,934 11.3 20.5 3941 (NA) 47 l-NA) 5 (NA) 10.6 (NA) 49 (NA) 2 (NA) 4.1 60,500 39,741 65.7 3,360 5.6 8.5 59,600 38,875 65.2 EE (D) (D) 327,700 227,684 69.5 20,007 6.1 8.8 345,600 243,909 70.6 (D) (D) (D) 1,376,600 963,297 70.0 84,827 6.2 , 8.8 1,483,400 1,050,870 70.8 (D) (D) (D) 784,400 576,476 73.5 50,578 6.4 8.8 858,600 614,119 71.5 (D) (D) (DJ 3942 (NA) 7 (NA) - - - (NA) 7 (NA) - - - 11,200 2,590 23.1 - - - 9,300 2,545 27.4 - - - 47,100 11,816 25.1 - - - 44,100 11,835 26.8 - - - 164,200 41,679 25.4 - - — 169,900 39,040 23.0 - - - 80,300 18,835 23.5 87,300 21,239 24.3 3943 (NA) 6 (NA) - - - (NA) 6 (NA) - - - 4,700 2,765 58.8 - - - 5,000 2,592 51.8 - - - 26,300 16,453 62.6 - - - 30,400 16,590 54.6 - - - 110,100 66,547 60.4 - - - 122,100 69,215 56.7 - - - 50,200 32,643 65.0 ** ~ " 57,600 35,091 60.9 ' ~ " 3949 (NA) 39 (NA) 2 (NA) 5.1 (NA) 37 (NA) 3 (NA) 8.1 48,900 19,989 40.9 EE (D) (D) 44,500 17,334 39.0 EE (D) (D) 273,500 118,848 43.5 (D) (D) (D) 257,700 111,777 43.4 (D) (D) (D) 1,008,000 404,023 40.1 (D) (D) (D) 949,500 393,652 41.5 (D) (D) (D) 536,700 232,456 43.3 (D) (D) (D) 507,900 224,872 44.3 (D) (D) (D) 3951 (NA) 12 (NA) 1 (NA) 8.3 (NA) 11 (NA) 1 (NA) 9.1 12,300 7,696 62.6 DD (D) (D) 11,400 6,905 60.6 DD (D) (D) 72,900 50,150 68.8 (D) (D) (D) 69,900 47,630 68.1 (D) (D) (D) 247,700 157,124 63.4 (D) (D) (D) 243,500 149,692 61.5 (D) (D) (D) 160,100 114,581 71.6 (D) (D) (D) 172,000 112,352 65.3 (D) (D) (D) 3952 (NA) 9 (NA) - - - (NA) 9 (NA) - - - 8,100 4,031 49.8 - - - 7,500 3,760 50.1 - - - 49,100 27,668 56.4 - - - 44,400 25,386 57.2 - - - 172,700 98,096 56.8 - - - 172,800 95,317 55.2 - - - 88,900 54,961 61.8 ■ " " 89,200 52,997 59.4 3953 (NA) 4 (NA) - - - (NA) 4 (NA) - - - 9,300 1,227 13.2 - - - 10,400 1,163 11.2 - - - 64,200 8,606 13.4 - - - 68,600 8,933 13.0 - - - 174,500 25,389 14.5 - _ - 185,900 24,659 13.3 - - - 113,500 14,664 12.9 ■" ~ ~ 123,900 15,071 12.2 ~ ~ 3955 (NA) 4 (NA) - - - (NA) 6 (NA) - - - 6,400 1,434 22.4 - - - 6,300 1,894 30.1 - - - 45,800 9,735 21.3 - - - 44,300 12,737 28.8 - ~ - 223,800 44,484 19.9 _ _ - 228,100 58,391 25.6 - - 100,600 21,018 20.9 " " 108,800 29,306 26.9 3961 (NA) 16 (NA) 2 (NA) 12.5 (NA) 18 (NA) - _ - 23,500 8,071 34.3 EE (D) (D) 23,100 9,156 39.6 - _ - 117,800 51,454 43.7 (D) (D) (D) 133,300 16,989 46.5 - - 413,000 164,651 39.9 (D) (D) (D) 447,200 207,826 46.5 - - 237,400 104,886 44.2 (D) (D) (D) 268,000 129,378 48.3 3962 (NA) - - - - - (NA) - - - - - 4,900 - - - - - 3,800 - - - - - 21,600 - - - - - 19,900 - - - - - 92,700 - - - - - 82,900 - - - - - 46,500 - - - - - 45,400 - - - - - 100 MERGERS AND ACQUISITIONS Table 1. Selected Statistics for Acquired Large Manufacturing Establisliments, by SIC industry classification and item All large estab- lishments acquired during 1968-1970 All estab- lishments In industry (a) Large establishments in industry (b) Percent of all estab- lishments (b) + (a) (c) Acquired in 1968 Percent of all estab- lishments (d) r (a) (e) Percent of all large estab- lishments (d) T (b) (f) Buttons : Establishments number Employees do.. Payroll $1,000 Shipments do. . Value added do.. Needles , pins , hooks and eyes, and similar notions : Establishments number . Employees , do... Payroll $1,000. Shipments do. . . Value added do. . . Miscellaneous manufacturing industries: Establishments number Employees do.. Payroll $1,000 Shipnents do. . Value added do.. - (NA) - 5,000 - 27,900 - 94,500 - 53,000 12 (NA) HH 20,400 (D) 111,800 (D) 429,700 (D) 251,100 10 (NA) GG 145,500 (D) 861,700 (D) 2,828,300 (D) 1,649,900 20 9,878 54,804 203,598 126,913 75 33,449 212,697 823,976 495,784 (NA) 48.4 49.0 47.4 50.5 (NA) 23.0 24.7 29.1 30.0 6 GG (D) (D) (D) 4 1,425 12,716 40,619 18,539 (NA) (D) (D) (D) (D) (NA) 1.0 1.5 1.4 1.1 30.0 (D) (D) (D) (D) 5.3 4.3 6.0 4.9 3.7 Note: Detail may not add to totals due to independent rounding. Data for employment companies. The employment size range is indicated by one of the following symbols: Less than 20 employees 20 to 99 employees 100 to 249 employees 250 to 499 employees EE - 500 to 999 employees FF - 1,000 to 2,499 employees GG - 2,500 to 4,999 employees HH - 5,000 to 9,999 employees ire withheld to avoid disclosing tigures for individual II - 10,000 to 24,999 employees JJ - 25,000 to 49,999 employees KK - 50,000 to 99,999 employees LL - 100,000 employees or more - Represents (D) Withheld (Z) Less tha (NA) Not ava n.e.c. Not < ^Data items other SIC's on figures for individual companies, n one-tenth of 1 percent, liable. Isewhere classified. are zero because establishments engaged in this activity are typically engaged in related activities as well and are classified in that basis. MERGERS AND ACQUISITIONS 101 Their SIC Industry Classification and Year of Acquisition: 1968, 1969, 1970— Continued 1969 1970 All estab- lishments Large establishments in industry All estab- lishments in Industry Large establishments in industry Percent of all Acquired during 1969 Percent of all Acquired during 1970 Code Percent Percent of all large estab- lishments (d) + (b) Percent Percent industry Total estab- lishments (b) + (a) Total of all estab- lishments (d) * (a) Total estab- lishments (b) + (a) Total of all estab- lishments (d) + (a) of all estab- lishments (d) * (b) (a) (b) (c) (d) (e) (f) fa) (b) (c) ''') m (e) 'f ) 3963 (NA) - - - - - (NA) 1 (NA) - - - 4,600 - - - - 4,900 DD (D) - - - 28,500 - - - - - 27,800 (D) (D) - - - 99,100 - - _ - - 95 , 100 (D) (D) - - - 53,500 51,500 (D) (D) 3964 (NA) 22 (NA) 6 (NA) 27.3 (NA) 20 (NA) - - - 20,400 10,832 53.1 3,846 18.9 35.5 21,600 11,619 53.8 - - - 116,500 61,676 52.9 24,154 20.7 39.2 134,500 74,416 55.3 - - - 444,700 215,631 48.5 74,631 16.8 34.6 531.400 272,699 51.3 - - - 248,300 137,197 55.4 46,995 18.9 34.3 315,000 174,530 55.4 399- (NA) 72 (NA) 5 (NA) 6.9 (NA) 74 (NA) 1 (NA) 1.4 150,400 33,679 22.4 2,059 1.4 6.1 148,400 34,659 23.4 DD (D) (D) 915,100 224,944 24.6 15,609 1.7 6.9 946,900 235,075 24.8 (D) (D) (D) 3,084,600 847,403 27.5 124,328 4.0 14.7 3,127,100 895,494 28.6 (D) (D) (D) 1,790,900 485,204 27.1 57,044 3.2 11.8 1,835,200 516,435 28.1 (D) (D) (D) 102 MERGERS AND ACQUISITIONS Table 2d. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1968 SIC industry classification of acquired establishments ^ All est ab- lishinents (a) All large estab- lishments in industry (b) All large acquired estab- lishments in industry Establishments acquired by companies having- Af least 1 other estab- lishment in same 4-digit industry No es tablish in sajne- 4-digit industry but at least 1 other estab- lishment in same 3-digit industry group (e) 3-digit group but at least 1 other estab- ishment in same 2-digit major group All other manufac- turing estab- lishments in other manufac- turing major groups (g) All other estab- lishments in non- manufac- turing industries (h) At least 1 other establishment in same industry as a perc en t age of al 1 - - Large estab- lishments in industry (d)-{b) (i) Large acquired estab- lishments in industry (d)-(c) ALL MANUFACTURING: Establishments. , Employees Guided missiles and space vehicles, completely assembled : Establishments Employees Ammunition , except for Establishments Employees small arms, n.e.c. : Small arms: Establishments . Employees Ordnance and accessories, Establishments Employees Meatpacking plants: Establishments . . . Employees Sausages and other prepared neat products : Establishments Employees Poultry and small game dressing and packing , wholesale : Establishments Employees Cheese , natural and processed ; Establishments Employees Condensed and evaporated mi Ik : Establishments Employees Fluid milk: Establishments . Employees Canned fruits, vegetables, and jellies: Establishments Employees preserves , jams , Pickled fruits and vegetables; vegetable sauces and seasonings; salad dressings: Establishments Employees Fresh or frozen packaged fish and sea Establishments Employees Frozen fruits, fruit juices, vegetables, and specialties: Establishments Employees Prepared feeds for animals and fowls : Establishments Employees Wet corn milling: Establishments . Employees Bread and other bakery products , cookies and crackers : Establishments Employees (NA) 18,775,500 (NA) 213,900 (NA) 131,300 (NA) 19,5 00 (NA) (NA) (NA) 169,100 (NA) 5 2,900 (NA) 86 ,000 54,000 (NA) 45,200 (NA) 34,400 (NA) 173,500 (NA) 159,800 (NA) 28,200 (NA) 24,200 (NA) 31,200 (NA) 16,200 (NA) 103,900 (NA) 8 5,800 (NA) 74 ,000 (NA) 29 ,300 (NA) 70 ,200 (NA) 107 ,900 (NA) 30,700 (NA) 19,700 (NA) 6,000 51 36,529 33 24,673 30 20,089 73 54,316 72 36,118 20 19,706 18 8 498 10 4 591 14 13 096 84 169 79 58 123 62 50 581 16 29 027 34 69 651 82 91 268 26 16,876 15 6,427 4 1,830 3 1,684 9 4,803 5 ,211 1 DD 3.9 (D) 5.5 (D) 6.9 8.9 5.6 (D) 1.2 50.0 (D) (D) 1.3 50.0 (D) (D) 66.7 (D) 44.4 (D) 71.4 78.8 50.0 ■ (D) See footnotes at end of table. MERGERS AND ACQUISITIONS 121 Table 2b. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1969— Continued SIC industry classification of acquired establishments All est ab- 1 ishments in industry All large estab- lishments in industry All large acquired estab- lishment; in industry Est ablishmenls acquired by companies having- At least 1 other estab- lishment in same 4-digit industry (d) No establishments in same — 4-digit industry but at least 1 other estab- lishment in same 3-digit industry group (e) 3-digit group but at least 1 other estab- lishment in same 2-digit major group (f) All other manufac- turing estab- lishments in other manufac- turing major groups (g) All other estab- lishments in non- manufac- turing industries !h) At least 1 other establishment in same industry as a perc en t age of al 1 - Large estab- lishments in industry (d)^(b) (1) Large acquired estab- lishments in industry (d)-(c) Perfumes , cosmetics , and other toilet preparations : Establishments Employees Paints , varnishes , lacquers , enamels , and allied products: Establishments Employees Fertilizers: Establishments Employees Petroleum refining: Establishments Employees Rubber footwear: Establishments Employees , Fabricated rubber products, n.e.c: Establishments Employees Miscellaneous plastics products : Establishments Employees , Footwear, except house slippers and rubber footwear: Establishments Employees House slippers : Establishments Employees Luggage: Establishments Employees Women' s handbags and purses : Establishments Employees Personal leather goods , except women' s handbags and purses: Establishments Employees Leather goods, n.e.c: Establishments Employees Flat glass: Establishments Employees Glass containers : Establishments Employees Vitreous china plumbing fixtures and china and earthenware fittings and bathroom accessories : Establishments Employees Concrete products, except block and brick: Establishments Employees Ready-mixed concrete: Establishments Employees (NA) 47,300 (NA) 66,600 (NA) 16,600 (NA) 107,700 (NA) 29,200 (NA) 146,300 (NA) 290,100 (NA) 12,300 (NA) 5,700 (NA) 22,000 (NA) 71,500 (NA) 9,600 (NA) 60,100 (NA) 75,300 49 32,236 54 21,165 14 6,461 110 88,321 35 26,855 133 100,146 218 105,373 (NA) 347 199,100 146 350 (NA) 12 11,500 4 376 (NA) 14 22,200 9 236 (NA) 11 25,900 4 322 17 6,926 10 3,846 7 3,404 5 2,745 6 3,651 16 6,836 9 4,999 1 DD 3 845 1 DD 24 21,077 1 DD 97 68,668 9 6,674 10 4,377 19 12 7 96 6,191 1 DD - 3 EE - 3 2,615 3.6 (D) 2.9 (D) 1.5 (D) 4.6 4.2 3.5 4.2 4.2 (D) 6.2 (D) 20.0 (D) 14.3 (D) See footnotes at end of table. 122 MERGERS AND ACQUISITIONS Table 2b. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1969 — Continued SIC industry classification of acquired establishments ts All estab- lishmi in industry (a) All large estab- lishments in industry (b) AH large acquired estab- lishment; in industry (c) Establishments acquired by companies having- At least 1 other estab- lishment in . same 4-dlgit industry (d) No establ ishments in same — 4-digit industry but at least 1 other estab- lishment in same 3-digit industry group (e) 3-digit group but at least 1 other estab- lishment in same 2-digit major group (f) All other manufac- turing estab- lishments in other manufac- turing major groups (g) All ther tab- hments non- nuf ac- uring ustries At least establis same indu. percen tag 1 other hment in stry as a of all-- Large estab- lishments in industry (d)^(b) Large acquired estab- lishments in industry {d)-(c) Cut stone and stone products : Establishments Employees Abrasive products: Establishments. . Employees Asbestos products : Establishments. . Employees Blast furnaces (including coke ovens), steel works, and rolling mills: Establishments Employees Electrometallurgical products: Establishments Employees Steel wire drawing and steel nails and spikes : Establishments EmployGGS Cold rolled steel sheet, strip, and bars: Establishments Employees Steel pipe and tubes : Establishments Employees Gray iron foundries: Establishments Employees Malleable iron foundries: Establishments Employees Steel foundries: Establishments, Employees Primary smelting and refining of lead: Establishments Employees Primary smelting and refining of zinc: Establishments Employees Primary smelting and refining of nonferrous metals, n.e.c. : Establishments Employees Rolling, drawing , and extruding of aluminum: Establishments Employees Rolling, drawing, and extruding of nonferrous metals, except copper and aluminum: Establishments Employees Drawing and insulating of nonferrous wire : Establishments Employees Aluminum castings : Establishments. . . Employees (NA) 15 ,900 (NA) 31 ,900 (NA) 23 ,200 (NA) 535,100 (NA) 10,500 (NA) 28,900 (NA) 18,700 (NA) 27,400 (NA) 144,100 (NA) 23,500 (NA) 68,600 (NA) 3,600 (NA) J, 900 (NA) 8,400 (NA) 67 , 900 (NA) 21 ,200 (NA) 67 ,900 (NA) 48 ,400 7 2 965 21 16 513 26 13 772 174 528,174 16 8,826 32 16,087 30 15,000 37 17,871 120 92,004 28 17,606 79 48,137 5 2,050 13 8,665 52 54,955 19 14,347 79 46,527 39 20,007 10 14,052 2,220 3 1,727 4 1,289 10 7,155 5 7,146 5 6,906 3 ,915 4.8 (D) 6.3 (D) 3.3 (D) 2.7 (D) 3.6 (D) 2.5 (D) 12.5 (D) 3.8 (D) 1.3 (D) See footnotes at end of table. MERGERS AND ACQUISITIONS 123 Table 2b Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1969— Continued SIC industry classification of acquired establishments All est ab- lishments in industry (a) All large estab- lishments in industry (b) All large acquired estab- lishment; in industry (c) Establishments acquired by companies having At least 1 other estab- 1 isliment in same 4-digit industry (d) No establ ishments in same — 4-digit industry but at least 1 other estab- lishment in same 3-digit industry group (e) 3-digit group but at least 1 other estab- lishment in same 2-digit major group (f) All other manufac- turing estab- lishments in other manufac- turing major groups (r) All other estab- lishments in non- manufac- turing industries (h) At least 1 other establ ishment in same industry as a per c en tage of all- Large estab- lishments in industry (d)-(b) Large acquired estab- lishments in industry {d)-(c) Nonferrous castings, n.e.c. : Establishments Employees Iron and steel forgings : Establishments Employees Nonferrous forgings : Establishments , Employees , Metal cans: Establishments , Employees , Hand and edge tools, except machine tools and hand saws: Establishments , Employees , , Hardware , n.e.c: Establishments Employees , Enamel iron and metal sanitary ware: Establishments , Employees , Plumbing fixture fittings and trim (brass goods) : Establishments Employees Heating equipment , except electric : Establishments , Employees , Fabricated structural steel : Establishments. , . , Employees , Metal doors , sash , frames , molding , and trim: Establishments , Employees , Fabricated plate work (boiler shops) : Establishments , Employees Sheet metal work : Establishments Employees Miscellaneous metal work: Establishments , Employees , Screw machine products: Establishments Employees , Bolts, nuts, screws, rivets and washers: Establishments , Employees , Metal stampings : Establishments Employees , Electroplating, plating, polishing, anodizing and coloring : Establishments , Employees , Miscellaneous fabricated wire products: Establishments Employees (NA) 25,600 (a) All large estab- 1 ishments in industry {b} All large acquired estab- lishment; in industry Establishments acquired by companies having — At least 1 other estab- lishment in same 4-digi t industry (d) No establishments in same-- 4-digit industry but at least 1 other estab- lishment in same 3-digit industry group (e) 3-digit group but at least 1 other estab- lishment in same 2-digit maj or group (f) All other manufac- turing estab- lishments in other manufac- turing major groups (g) All other estab- lishments in non- manufac- turing industries dO At least 1 other establishment in same Indus try as a percentage of all-- Large estab- 1 ishments in i ndustry (d)-(b) Large acquired estab- lishments in industry Farm machinery and equipment: Establishments Employees Construction machinery and equipment: Establishments Employees Mining machinery and equ ipment , except oil field machinery and equipment : Establishments Employees Oil field machinery and equipment: Establishments Employees Conveyors and conveying equipment: Establishments Employees Industrial trucks, and stackers: Establishments. . Employees tractors, trailers. Machine tools, metal cutting types: Establishments Employees Machine tools , metal forming types : Establishments Employees Special dies and tools, die sets, jigs and fixtures: Establishments Employees Machine tool accessories and measui devices: Establ ishments Employees mg Metalworking machinery , except machine tools; and power driven hand tools: Establishments Employees Printing trades machinery and equipment : Establishments Employees Pumps , air and gas compressors , equipment ; Establishments Employees and pumping Mechanical power transmission equipment, except ball and roller bearings: Establishments Employees Typewriters: Establishments Employees Electronic computing equipment: Establishments Employees Calculating and accounting machines, electronic computing equipment: Establishments Employees Office machines, n.e.c: Establishments Employees (NA) 81 124,600 75,595 (NA) 98 131,100 108,662 (NA) 22,200 (NA) 38,800 (NA) 28,400 (NA) 27 , 900 (NA) 71,200 (NA) 28,600 (NA) 112,700 (NA) 52,300 (NA) 46,500 (NA) 27,300 (NA) 80,500 (NA) 52,400 (NA) 19,200 (NA) 145,700 (NA) 32,300 (NA) 21,500 20 14,457 2 (}G 36 25,314 4 2,204 27 12,916 1 EE 22 18 093 65 51 000 29 17 633 26 14,211 44 23,222 49 31 519 29 16 45 2 81 59,439 53 33,230 12 18,738 20 16,872 2,585 1.2 100.0 (D) (D) 3.1 60.0 (D) (D) 2.8 (D) 3.1 (D) 2.3 (D) 2.0 (D) 1.2 (D) 2.2 (D) 25.0 (D) 100.0 (D) 66.7 (D) 100.0 (D) 50.0 (D) 20.0 (D) 40.0 (D) See footnotes at end of table. 138 MERGERS AND ACQUISITIONS Table 2c. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1970 — Continued SIC industry classification of acquired establishments^ All estab- lishments in industry (a) All large estab- lishments in industry (b) All large acquired estab- lishment; in industry (c) Establishments acquired by companies having- At least 1 other estab- lishment in same 4-digit industry No establishments in same — 4-digit industry but at least 1 oth-er estab- lishment in same 3-digit industry group (e) 3-digit group but at least 1 other estab- lishment in same 2-digit major group (f) All other manufac- turing estab- lishments in other manufac- turing major groups (g) All other estab- lishments in non- manufac- turing industries (h) At least 1 other establishment in same industry as a percentage of all — Large estab- lishments in industry (d)^(b) (i) Large acquired estab- lishments in industry (d)^(c) Air conditioning equipment and commercial and industrial refrigeration machinery and equipment : Establishments , Employees Service industry machines, n.e.c: Establishments , Employees , . , Miscellaneous machinery , except electrical ; Establishments , Employees , Electric measuring instruments and test equipment : Establishments , Employees , Power, distribution , and specialty transformers : Establishments , Employees , Switchgear and switchboard apparatus : Establishments , Employees , Motors and generators : Establishments , Employees Industrial controls : Establishments , Employees , Household cooking equipment: Establishments Employees Electric housewares and fans: Establishments Employees Household appliances, n.e.c: Establishments Employees Lighting fixtures : Establishments ■, , Employees Current-carrying wiring devices: Establishments Employees Noncurrent-carrying wiring devices : Establishments Employees Radio and television receiving sets, except communication types: Establishments Employees Telephone and telegraph apparatus: Establ ishments Employees Radio television transmitting, signaling, and detection equipment and apparatus: Establishments Employees Transmitting, industrial, and special purpose electron tubes: Establishments , Employees (NA) 116,700 (NA) 22,200 (NA) 189,600 (NA) 59 , 100 (NA) 50,000 (NA) 67,600 (NA) 105,200 (NA) 48,100 (NA) 21,200 (NA) 49 , 500 (NA) 14,600 (NA) 68.400 (NA) 44,100 (NA) 26 , 500 (Nrt) 90,000 (NA) 155,600 (NA) 389,700 (NA) 16,800 97 91,453 20 8,470 52 37,356 44 38,290 72 78,291 41 150,591 231 334,611 22 15,684 6 3,972 35 41,707 1 DD 69 49,172 1 3 498 104 86,345 1 4 458 37 37,954 1 DD 21 17,978 1 EE 66 40,677 2 FF 17 11,492 1 EE 55 31,229 1 4 488 39 30,741 1 3 530 34 18,785 1 4 803 6 4,094 1 2.1 E (D) 5.0 - (D) 1 1.9 E (D) 1.4 (D) 2.7 (D) 3.0 (D) 1.8 (D) 1.4 (D) 2.4 (D) 0.9 (D) See footnotes at end of table. MERGERS AND ACQUISITIONS 139 Table 2c. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Comparison to the Industry Classification of the Acquiring Company*s Establishments: 1970— Continued SIC industry classification of acquired establishments All estab- 1 ishments in industry (a) All large estab- lishments in industry (b) All large acquired estab- lishment; in industry (c) Establishments acquired by companies having- At least 1 other estab- lishment in s am e 4-digit industry No establ ishments in same — 4-digit industry but at least 1 other estab- lishment in same 3-digit industry group (e) 3-digit group but at leas t 1 other estab- 1 ishment in same 2-digit major group (f) All other manufac- turing estab- lishments in other manufac- turing major groups (g) All other estab- lishments in non- manufac- turing industries At leas es tabli same ind percent 1 other shment in us try as a of all-- Large estab- lishment; in industry (d)f(b) Large acquired estab- lishments in industry (d)-{c) (J) Semiconductors and related devices : Establishments Employees Electronic components and accessories , Establishments . Employees Primary batteries , Establishments . . Employees dry and wet: Electrical equipment for internal combustion engines: Establishments Employees Motor vehicles : Establishments, Employees Truck and bus bodies: Establishments Employees Motor vehicle parts and accessories: Establishments Empl oyees Truck trailers (full): Establishments Employees Aircraft: Establishments. Employees Aircraft engines and engine parts: Establishments Empl oyees Aircraft parts and auxiliary equipment, n.e.c . : Establishments Empl oyees Shipbuilding and repairing: Establishments <, Employees , Boat building and repairing: Establishments Employees Railroad and street cars : Establishments Employees Motorcycles, bicycles, and parts: Establishments Employees Trailer coaches: Establishments . Employees Mechanical measuring and controlling Instruments, except automatic temperature controls : Establishments Empl oyees Automatic temperature controls: Establishments Employees (NA) 87,600 (NA) (NA) (NA) 130,200 (NA) 30,600 (NA) (NA) (NA) 14,000 (NA) 76,400 (NA) 72,000 (NA) 31,600 48 79,674 (NA) 185 217,000 126,184 (NA) 16 9,400 7,755 (NA) 39 52,800 42 580 (NA) 88 (NA) 295 149 (NA) 26 35,500 15 733 (NA) 237 356,800 306 639 (NA) 31 22,700 15 966 (NA) 42 320,200 316 205 (NA) 64 163,800 152 655 93 129,782 69 119,003 15 5,925 33 33,854 10 9.617 26 10,058 63 51,484 23 28 , 489 3 2,707 6 2,188 9 5,760 4.9 4.6 12.5 (D) 2.3 (D) 0.8 (D) 1.1 (D) 3.0 (D) 10.0 (D) 3.8 (D) 1.6 (D) 52.9 60.0 100.0 (D) 66.7 (D) 25.0 (D) 50.0 (D) 100.0 (D) 50.0 (D) 16.7 (D) 50.0 (D) See footnotes at end of table. 140 MERGERS AND ACQUISITION? Table 2c. Number of Large Acquired Manufacturing Establishments and Tlieir Employment in Selected SIC industries, by Comparison to the Industry Classification of the Acquiring Company's Establishments: 1970— Continued Establishments acquired by companies \\ aving — No establishments At least 1 other All in same — All establishment in All All All large large At least 4-digit 3-diglt manufac- other percentage of all — estab- lishments in industry acquired estab- lishments in industry industry but at least 1 other estab- lishment group but at least 1 other estab- lishment Code SIC industry classification of acquired establishments ' lishments in industry estab- lishment in same 4-diglt industry estab- lishments in other manufac- turing estab- lishments in non- manufac- turing industries Large estab- lishments in Large acquired estab- lishments in in same 3-digit industry in same 2-digit major major groups industry (d)^(b) industry (d)^(c) group group (a) (b) (c) (d) (e) (f) (g) (h) (1) (j) 3831 Optical instruments and lenses: (NA) 18,400 15 10,401 1 DD - - 1 DD ~ ~ - _ 3842 Orthopedic, prosthetic, and surgical appliances and supplies: (NA) 38 1 _ _ _ _ 1 _ _ 4 1 , 300 26,084 DD _ _ _ _ DD _ 3851 Ophthalmic goods: (NA) 27,000 21 16,607 1 DD 1 DD - - - - 4,8 (d) 100.0 (D) 3871 Watches, clocks, clockwork operated devices, and parts except watchcases: (NA) 30 1 _ - 1 _ _ _ _ 32,200 27,312 EE " " EE ' _ 3911 Jewelry, precious metal: (NA) 34,100 20 8,909 1 DD " - " ~ 1 DD ~ _ _ 3914 Silverware, plated ware, and stainless steel ware: Establishments (NA) 10 1 _ _ - _ 1 - - 12,700 7,486 DD _ _ _ _ DD _ _ 3931 Musical instruments; (NA) 25 5 _ - _ 5 - - - 21,100 12,700 2,299 _ _ _ 2,299 _ _ _ 3941 Games and toys, except dolls and children's vehicles: (NA) 49 2 _ - 1 1 - - - 59,600 38,875 EE _ _ DD DD - - - 3949 Sporting and athletic goods, n. e. c. : (NA) 37 3 _ _ - 2 1 - - 44,500 17,334 EE _ _ _ EE DD _ _ 3951 Pens, pen points, fountain pens, ball point pens, mechanical pencils, and parts: (NA) 11,400 11 6,905 1 DD - - " 1 DD " " - - 3991 Brooms and brushes: (NA) 18,300 13 1 1 _ _ _ _ 7.7 100.0 5,643 DD DD - - - - (D) (D) Note: Detail may not add to totals due to independent rounding. Data for employment are withheld to avoid disclosing figures for individual The employment size range is indicated by one of the following symbols: AA - Less than 20 employees BB - 20 to 99 employees CC - 100 to 249 employees DD - 250 to 499 employees EE - 500 to 999 employees FF - 1,000 to 2,499 employees GG - 2,500 to 4,999 employees HH - 5,000 to 9,999 employees - Represents zero. (D) Withheld to avoid disclosing figures for individual companies. (Z) Less than one-tenth of 1 percent. (NA) Not available, n.e.c. Not elsewhere classified. 'sic industries included are only those in which at least one large establishment was acquired duri acquisitions are in tables 1 or 4 depending upon SIC in question. II - 10,000 to 24,999 employees J J - 25,000 to 49,999 employees KK - 50,000 to 99,999 employees LL - 100,000 employees or more ig the year. SIC industries in which there were no MERGERS AND ACQUISITIONS 141 Table 3a. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968 SIC industry classification of acquired establishments^ All estab- lishments in industry All large estab- lishments in industry All large acquired estab- lish- ments in industry (c)/ Establishments acquired by companies having manufacturing establishments in — Same industry (d) Located in- Same State (e) Different State but same geo- graphic division (f) Other geo- graphic divi- sions Other manufacturing industries Located in- Same State Different State but same geo- graphic division (J) Other geo- graphic divi- sions (k) ALL MANUFACTURING: Establishments. . . Employees Guided missiles and space vehicles , completely assembled : Establishments Employees Ammunition , except for smal 1 arms , n.e. c . : Establishments Employees Small arms: Establishments . Employees Ordnance and accessories , Establ ishments Employees 2011 Meat packing plants: Establishments Employees Sausages and other prepared meat products : Establishments Employees Poultry and small game dressing and packing, wholesale: Establ ishments Employees Cheese, natural and processed: Establishments Employees Condensed and evaporated milk: Establishments Employees Fluid milk: Establishmehts. Employees Canned fruits, vegetables, preserves, jams, and jellies; Establishments. Employees Pickled fruits and vegetables ; vegetable sauces and seasonings ; salad dressings : Establishments Employees Fresh or frozen packaged fish and sea foods: Establishments Employees Frozen fruits, fruit jucies, vegetables, and specialties Establishments Employees Prepared feeds for animals and fowls: Establishments Employees Wet corn milling: Establishments . Employees (NA) 18,775,500 (NA) 213,900 (NA) 131,300 (NA) 19,500 (NA) (NA) (NA) 169,100 (NA) 52 ,900 (NA) 86 ,000 (NA) 20 ,200 (NA) 12 ,500 (NA) 158 ,800 (NA) 105 ,400 (NA) 19 ,400 (NA) 21 ,900 (NA) 67 ,100 (NA) 53 ,300 (NA) 14 ,100 13,384 11,194,110 51 207,527 59 123,451 15 17 ,258 27 37,035 137 106,327 38 16,068 102 42,199 3,440 2,362 97 39,083 98 46,839 19 6,717 15 6,832 60 35 017 19 7 307 13 12 955 630 403,305 3 2,054 3 1 ,369 4 1,921 193 129,099 137 95 ,717 31 20,729 25 12,653 1 DD 2 EE 330 220,585 3 2,054 137,060 1 DD See footnotes at end of table. 86 48,660 55 34,865 1 EE 1 DD 1 DD 2 EE 142 MERGERS AND ACQUISITIONS Table 3a. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968— Continued SIC industry classification of acquired establishments ^ All estab- lishments in industry other manufacturing industries (h) Located in- Same State Different State but same geo- graphic division (J) Other geo- graphic divi- sions Gray iron foundries: Establishments , . . . Employees Steel foundries: Establishments . Employees Primary smelting and refining of lead : Establishments Employees Primary smelting and refining of zinc : Establishments Employees Primary production of aluminum: Establishments Employees Secondary smelting and refining of nonferrous metals: Establishments Employees Rolling, drawing, of copper: Establishments . Employees and extruding Rolling, drawing, and extruding of nonferrous metals, except copper and aluminum: Establishments Employees Drawing and insulating of nonferrous wire: Establishments Employees Aluminum castings: Establishments . . Employees Nonferrous castings, Establishments Employees Iron and steel forgings: Establishments Employees Primary metal products. Establishments Employees Metal cans: Establishments . Employees Hand and edge tools, except machine tools and hand saws: Establishments Employees Hand saws and saw blades: Establishments Employees Hardware, n.e.c.; Establishments . Employees (NA ) 139,200 'NA) 66.200 (NA ) 2,900 (NA) S.200 (NA ) 24 , 900 (NA) 18,100 (NA) 39,800 (NA) 20,300 (NA ) 65,100 INA ) 48,200 (NA) 24,900 (NA ) 39,100 (NA ) 25,200 'NA ) 63,100 (NA ) 39,200 (NA) 6 , 200 (NA) 101,800 108 82.376 76 46.627 4 1,657 12 7,822 24 24,843 9 3,691 42 32,632 19 14.451 82 46,046 35 18,489 21 13,519 37 24,717 5 1,473 79 45,823 39 19,367 5 2,559 87 70,071 19 13,676 11 7.083 5 2,792 5 2,512 3 1.332 15 12,070 5 4,213 5 2,792 See footnotes at end of table. MERGERS AND ACQUISITIONS 149 Table 3d. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the -Acquiring Company: 1968 — Continued SIC industry classification of acquired establishments ' All estab- lishments in industry All large estab- lishments in industry All large acquired estab- lish- ments in industry Establishments acquired by companies having manufacturing establishments in — Same industry (d) Located in- Same State Different State but same geo- graphic division (f) Other geo- graphic divi - sions Other manufacturing Industries Located in — Same State Different State but same geo- graphic division Other geo- graphic divi- sions (k) Enameled iron and metal sanitary ware : Establishments Employees Plumbing fixture fittings and trim (brass goods) : Establishments Employees Heating equipment^ except electric: Establishments Employees Fabricated structural steel: Establishments Employees Metal doors^ sash, frames, molding, and trim: Establishments Employees Fabricated plate work (boiler shops ) : Establishments. . . . , . Employees Architectural and ornamental metal work: Establishments Employees Miscellaneous metal work: Establishments Employees Screw machine products: Establishments Employees Bolts, nuts, screws, rivets, and washers: Establishments Employees Metal stampings: Establishments. Employees Miscellaneous fabricated wire products : Establishments Employees Metal shipping barrels, drums, kegs, and pails: Establishments Employees Valves and pipe fittings, except plumbers* brass goods: Establishments Employees Fabricated pipe and fabricated pipe fittings: Establishments Employees Internal combustion engines, n.e.c. Establishments Employees (NA) 10,800 (NA) 15,400 (NA) 40,800 (NA) 109,800 (NA) 66,800 (NA) 95^800 (NA) 17,500 (NA) 34,600 (NA) 50,100 (NA) 67,600 (NA) 232,000 (NA) 62,100 (NA) 11,000 (NA) 94,300 (NA) 17,900 (NA) 64,100 12 7,665 16 7,942 48 23,088 34,949 47 20,848 65 47,189 7 3,597 26 11,393 14 5,607 63 41,106 145 138,368 38 16,435 6 2,257 100 65,124 10 3,498 39 61,135 4 1,780 4 1,870 4 2,017 3 1,267 6 3,039 5 3,910 6 3,141 3 GO 4 2,017 4 2,017 1 EE 2 EE 2 EE 4 FF 1 DD 1 DD 2 2 GG GG 1 DD 1 EE 1 DD 1 DD 1 DD 1 DD See footnotes at end of table. 150 MERGERS AND ACQUISITIONS Table 3a. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968 — Continued Establishments acquired by companies having manufacturing establishments in- - All large All large acquired Same industry other manufacturing Industries All estab- estab- estab- SIC industry classification of acquired establishments^ lishments in industry lishments in industry lish- ments in industry Total located in — Total Located in — Code Same Different State but same geo- other geo- graphic Same Different State but same geo- other geo- graphic State graphic division divi- sions State graphic division divi- sions (a) (b) (c) (d) (e) • (f) (g) (h) (i) (j) (k) 3522 Farm machinery and equipment: Establishments (NA) 125,200 84 84,988 2 EE - - - - 1 DD - - 1 Employees DD 3531 Construction machinery and equipment: Establishments (NA) 137,700 100 111,594 7 4,009 5 3,221 5 3,221 - - 1 DD - - 1 Employees DD 3532 Mining machinery and equipment. except oil field machinery and equipment: Establishments (NA) 20,200 18 15,236 2 GG 2 GG 1 DD - 1 GG - - - _ Employees 3533 Oil field machinery and equipment: Establishments (NA) 33 ,300 35 22,412 1 EE - - - - 1 EE - - 1 Employees EE 3534 Elevators and moving stairways: Establ ishments (NA) 13,900 12 9,034 1 DD - - - - 1 DD - 1 DD _ Employees 3535 Conveyors and conveying equipment: Establishments (NA) 26,900 25 12,101 3 1,101 1 DD 1 DD - - 1 DD - 1 DD _ Employees 3541 Machine tools, metal cutting types: Establishments (NA) 83 , 600 69 64,414 7 9,843 3 4,931 3 4,931 ~ - 2 FF 1 FF 1 DD _ Employees 3542 Machine tools, metal forming types: Establishments (NA) 27 , 800 28 17,027 2 FF - - - 2 FF 2 FF - _ Employees _ 3545 Machine tool accessories and measuring devices: . Establishments (NA) 57,800 49 28,491 10 5,162 - - - - 10 5,162 7 3,570 2 FF 1 Employees DD 3548 Metalworking machinery, except machine tools; and power driven hand tools: Establishments (NA) 45,300 46 32,490 7 4,508 - - - - 3 2,266 2 FF - 1 Employees EE 3551 Food products machinery: Establishments (NA) 33,100 24 12,423 1 EE - - - - 1 EE - 1 EE _ Employees 3552 Textile machinery: Establishments (NA) 33 3 1 1 - - - - - - Employees 37,400 23,624 4,803 GG GG _ 3554 Paper industries machinery: Establishments (NA) 20,000 22 12,726 2 EE - - - - 1 EE 1 EE - _ Employees _ 3555 Printing trades machinery and equipment: Establishments (NA) 30,300 34 21,101 1 EE - " - - - " ~ _ Employees _ 3559 Special industry machinery, n.e.c.: Establishments (NA) 70,800 63 36,892 1 DD - - - 1 DD 1 DD - _ Employees _ 3561 Pumps, air and gas compressors. and pumping equipment: Establishments (NA) 75,700 76 56,042 4 2,164 - - - - 3 FF 1 EE 1 DD 1 Employees EE 3S62 Ball and roller bearings; Establishments (NA) 59,100 46 52,963 1 HH 1 HH 1 HH : : : ~ : - Employees - See footnotes at end of table. MERGERS AND ACQUISITIONS 151 Table 3d. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968 — Continued SIC industry classification of acquired establishments^ All estab- li shment s in industry (a) All large estab- lishments In industry All large acquired estab- lish- ments in industry Establishments acquired by companies having manufacturing establishments in — Same industry Located in- Same State Different State but same geo- graphic division (f) Other geo- graphic divi- sions (g) Other manufacturing industries Located in-- Same State Different State but same geo- graphic division (J) Other geo- graphic divi- sions (k) Mechanical power transmission equip- ment , except ball and roller bearings : Establishments Employees General industrial machinery and equipment , n .e .c . : Es tabl ishments Employees Electronic computing equipment: Establishments Employees Calculating and accounting machines, except electronic computing equipment : Establishments Employees Commercial laundry, dry cleaning, and pressing machines: Establ ishments Employees Air conditioning equipment and commercial and industrial refrigeration : Establishments Employees Measuring and dispensing pumps: Establishments Employees Miscellaneous machinery , electrical : Establishments Employees except Electric measuring instruments and test equipment: Establishments Employees Power, distribution, and specialty transformers : Establ ishments Employees Switchgear and switchboard apparatus : Establishments Employees Motors and generators : Establishments Employees Industrial controls Establishments , , . Employees Electrical industrial apparatus n .e.c. : Establishments Employees Household cooking equipment: Establishments Employees (NA) 53 ,000 (NA) 39,000 (NA) 106,800 (NA) 37,500 (NA) 6,900 (NA) 103,400 (NA) 6,500 (NA) 200,300 (NA) 61,500 (NA) 48,900 (NA) 64 , 900 (NA) 107,300 (NA) 53,200 (NA) 21,700 iNA) 20,500 53 33,220 27 14 857 69 98 632 15 30,025 7 3,225 95 77,793 59 42,112 52 41,436 33 39,659 67 50,713 114 92,494 33 39,719 19 11,604 21 18,121 6 '4,795 4 1,961 3 1,514 3 1,561 4 GG 1 DD 1 DD 4 2,530 1 DD See footnotes at end of table. 152 MERGERS AND ACQUISITIONS Table 3a. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968 — Continued SIC industry classification of acquired establishments^ All estab- lishments in industry (a) All large estab- lishments in industry All large acquired estab- lish- ments in industry Establishments acquired by companies having manufacturing establishments in — Same industry Located in — Same State (e) Different State but same geo- graphic division (f) Other geo- graphic divi- sions (g) Other manufacturing industries Located in — Same State (i) Different State but same geo- graphic division (J) Other geo- graphic divi- sions (k) 3679 Household refrigerators and home and farm freezers: Establishments Employees Household laundry equipment : Establishments Employees Electric housewares and fans : Establishments Employees Household vacuum cleaners : Establishments Employees Household appliances, Establishments Employees Electric lamps : Establishments . Employees Lighting fixtures : Establishments . , Employees Current-carrying wiring devices: Establishments Employees Noncurrent- carrying wiring devices : Establishments Employees Radio and television receiving sets, except communication types : Establishments Employees Telephone and telegraph apparatus : Establishments Employees Radio and television transmitting, signaling, and detection equipment and apparatus : Establishments Employees Electronic components and accessories, n.e.c.; Establishments Employees Electrical equipment for internal combustion engines : Establishments Employees Motor veh ic les : Establishments . Employees Truck and bus bod ies : Establ ishments Employees Motor vehicle parts and accessories: Establishments Employees (NA) 51,800 (NA) 23-500 (NA) 44,500 (NA) 10,100 (NA ) 14 , 700 (NA) 31,000 NA ) 67,600 (NA) 44,000 (NA ) 23,800 (NA ) 427,900 (NA ) 244,300 (NA) 53,300 (NA) (NA) (NA) 31,900 (NA) 393,000 15 53.820 16 22,306 54 35,179 7 8,690 17 11,118 38 28,575 54 30,022 38 29,270 29 16,575 NA) 78 112 800 100,932 NA) 36 118 500 114,386 219 372.980 229 152,072 34 42,653 78 289,348 28 15,230 238 344,633 13 15,485 6 3,183 3 1,314 12 9,617 4 3,602 3 GG 1 DD 7 6,927 2 GC 2 GG 1 DD 1 DD 3 4,060 See footnotes at end of table. MERGERS AND ACQUISITIONS 153 Table 3d. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968— Continued SIC industry classification of acquired establishments All estab- lishments in industry (a) All large estab- lishments In industry All large acquired estab- lish- ments in industry Establishments acquired by companies having manufacturing establishments in — Same industry Located in- Same State Different State but same geo- graphic division (f) Other geo- graphic divi- sions (g) Other manufacturing Industries (h) Located in- Same State (i) Different State but same geo- graphic division other geo- graphic divi- sions (k) Aircraft engines and engine parts: Es t abl ishmen ts Employees Aircraft parts and auxiliary equipment, n.e.c.: Establishments Employees Ship building and repairing: Est abl ishments Employees Boat building and repairing Est abl ishments Employees Railroad and street cars: Establishments Employees Trailer coaches: Establishments . Employees Transportation equipment, Est abl ishments Employees Engineering, laboratory, and scientific and research instruments and associated equipment: Establishments Employees Mechanical measuring and controlling instruments, except automatic temperature controls: Establishments Employees Automatic temperature controls: Est abl ishments Employees Surgical and medical instruments and apparatus : Establishments Employees Orthopedic, prosthetic, and surgical appliances and supplies: Es tab! ishments Employees Photographic equipment and supplies: Establishments Employees Watches, clocks, clockwork operated devices, and parts except watchcases : Establishments Employees Watchcases : Establishments; Employees Musical instruments: Establishments. . . . Employees (NA) 191,200 (NA) (NA) (NA) 140,800 (NA) 32,200 (NA) (NA) (NA) 51,400 (NA) 12,200 (NA) 48,400 (NA) 67 , 900 (NA) 32,800 (NA) 23,700 (NA) 38,800 (NA) 90,400 (NA) 35, 100 (NA) 3,900 (NA) 23,700 71 181,022 117 162,401 69 128,801 18 ,244 30 29,226 27 9,946 4 1 ,325 36 25,315 55 48,384 27 30,493 22 11,514 30 20 316 46 77 943 29 29,362 4 2,200 28 15,062 3 2,106 6 3,433 5 GG 3 2,677 3 1,682 5 GG 1 EE 3 1,682 1 FF 1 FF 1 DD 1 DD See footnotes at end of table. 154 MERGERS AND ACQUISITIONS Table 3a. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1968 — Continued SIC industry classification of acquired establishments^ All estab- li shments in industry (a) All large estab- lishments in industry (b) All large acquired estab- lish- ments in industry Establishments acquired by companies having manufacturing establishments in — Same industry Located in- Same State Different State but same geo- graphic division (f) Other geo- graphic divi- sions (g) Other manufacturing industries (h) Located in — Same State (i) Different State but same geo- graphic division (j) Other geo- graphic divi- sions (k) Games and toys, except dolls and children's vehicles: Establishments Employees Sporting and athletic goods. Establishments: Employees Pens, pen points, fountain pens, ball point pens, mechani cal pencils, and parts: Establishments Employees Lead pencils, crayons, and artists ' materials: Establishments Employees Costume jewelry and costume novelties, except precious metal: Establishments Employees Needles, pins, hooks and eyes, and similar notions : Establishments Employees Signs and advertising displays: Establishments Employees Linoleum, asphalted- felt-base, and other hard surface floor coverings, n, e. c. : Establishments Employees Manufacturing industries. Establishments , Employees n. e. c. : (NA) 58,900 (NA) 48,500 (NA) 11,800 (NA) 7,800 (NA) 22,300 (NA) 20,400 (NA) 49,300 (NA) 5,800 (NA) 57,000 46 38,030 39 18,846 14 8,227 5 2,153 14 7,421 20 9,878 12 3,982 6 5,174 37 14,733 1 EE 1 DD 1 DD 1 DD Note: Detail may not add to totals due to independent rounding. Data for employment are withheld to avoid disclosing figures for individual com- panies. The employment size range is indicated by one of the following symbols: AA - Less than 20 employees BB - 20 to 99 employees CC - 100 to 249 employees DD - 250 to 499 employees 500 to 999 employees 1,000 to 2,499 employees 2,500 to 4,999 employees 5,000 to 9,999 employees II - 10,000 to 24,999 employees JJ - 25,000 to 49,999 employees KK - 50.000 to 99,999 employees LL - 100,000 employees or more - Represents zero, (D) Withheld to avoid disclosing figures for individual companies. (Z) Less than one-tenth of 1 percent. (NA) Not available, n. e. c. Not elsewhere classified. 'SIC industries included are only those in which at least one large establishment was acquired during the year. SIC industries in which there were no acquisitions are in table 1 or table 4, depending upon SIC in question. MERGERS AND ACQUISITIONS 155 Table 3b. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1969 SIC industry classification of acquired establishments' All estab- lishments in industry (a) All large estab- lishments in industry All large acquired estab- lish- ments in industry Establishments acquired by companies having manufacturing establishments in — Same industry Located in- Same State Different , State but; same geo- graphic division (f) Other geo- graphic divi- sions (g) Other manufacturing industries Located in- Same State (i) Different State but same geo- graphic division Other geo- graphic divi- sions ALL ^tANUFACTURING: Establishments. . Employees Guns, howitzers, mortars, related equipment: Establishments Employees Guided missiles and space vehicles, completely assembled : Establishments Employees Ammunit ion, except for small arms , n . e -c . : Establishments Employees Sighting and fire control equipment : Establishments Employees Small arms: Establishments . Employees Small arms ammunition : Establishments Employees Ordnance and accessories , Establishments Employees Meat packing plants: Establishments. . . . Employees Sausages and other prepared meat products : Establishments Employees Poultry and small game dressing and packing", wholesale : Establishments Employees . -. Cheese , natural and processed : Establishments Employees Condensed and evaporated milk: Establishments Employees Fluid milk: Establishments . Employees Canned and cured fish and sea foods : Establishments Employees Canned specialties : Establishments. . . Employees Canned fruits , vegetables , preserves, jams, and jellies: Establishments Employees (NA) 19,141,000 Different State but same geo- graphic division (f) Other geo- graphic divi- sions (g) Other manufacturing industries Located in- Same State (i) Different State but same geo- graphic division Other manufacturing industries (h) Located in- Same State Different State but same geo- graphic division (J) Other geo- graphic divi- sions (k) Linoleum, asphalted- felt -base , and other hard surface floor coverings , n . e . c . : Establishments Employees Manufacturing industries, n.e. Establishments Employees (NA) 5.500 (NA) 60,100 6 5 036 34 4 791 2 EE 1 DD Note; Detail may not add to totals due to independent rounding. Data for employment are withheld to avoid disclosing figures for individual companies. The employment size range is indicated by one of the following symbols: AA - Less than 20 employees BB - 20 to 99 employees CC - 100 to 249 employees DD - 250 to 499 employees EE - 500 to 999 employees FF - 1,000 to 2,499 employees GG - 2,500 to 4,999 employees HH - 5,000 to 9,999 employees II - 10,000 to 24,999 employees JJ - 25,000 to 49,999 employees KK - 50,000 to 99,999 employees LL - 100,000 employees or more - Represents zero. (D) Withheld to avoid disclosing figures for individual companies. (Z) Less than one-tenth of 1 percent. (NA) Not available, n.e.c. Not elsewhere classified. *SIC industries included are only those in which at least one large establishment was acquired during the year. SIC industries in which there were no acquisitions are in Table 1 or Table 4, depending upon SIC in question. MERGERS AND ACQUISITIONS 171 Table 3c. Number of Large Acquired Manufacturing Establishments and Their Employment in Selected SIC Industries, by Geographic Area of the Acquiring Company: 1970 SIC industry classification of acquired establishments^ All estab- lishments in industry (a) All large estab- lishments in industry All large acquired estab- lish- ments in industry (c) Establishments acquired by companies having manufacturing establishments in — Same industry (d) Located in — Same State (e) Different State but same geo- graphic division (f) Other geo- graphic divi- sions (g) other manufacturing industries Located in- Same State Different State but same geo- graphic division (J) Other geo- graphic divi- sions ALL MANUFACTURING: Establishments. . Employees Ammunition, except for small arms , n . e. c . : Establishments Employees Small arms ammunition: Establishments Employees Ordnance and accessories, Establishments Employees Meat packing plants Establishments. . . Employees Sausages and other prepared meat products : Establishments Employees Poultry and small game dressing and packing, wholesale: Establishments Employees Fluid milk: Establishments. Employees Canned specialties: Establishments. . . Employees Canned fruits, vegetables, pre- serves, jams, and jellies: Establishments Employees Fresh or frozen packaged fish and sea foods: Establishments Employees. Frozen fruits, fruit juices, vegetables, and specialties: Establishments Employees Rice milling: Establishments Employees Bread and other bakery products, except cookies and crackers: Establishments Employees Cookies and crackers Establishments. . . . Employees Cane sugar refining: Establishments. . . . Employees Candy and other confectionery products: Establishments Employees (NA) 18,312,000 N o5 >« ^ (A 3 ■D u (/) a> 4-* a> 00 — 0) u CO 5 3 r- tj (0 tn u hD ^ a; rt hD -S £ C ■!• .-I CO in n o o o . ^ in - iD o in OJ CM rt o^^ ^r-iM t-'v'^ • Q Q ... • Q Q Cgs_-^ U^^^ Q£)WW in --^ -^ • Q Q o in CD m cc to on n OD (N in en CO CJD I-. 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Z Ol CO ^-> o to < o . 2 en o -^ O in < o - ^ rH CO 0) O • O ■H XI O T) ' o O XJ i2 O "O +-> JD O •□ -I CD X3 O E e ^ o E o £ to w 0) Ul o ■*-* a -H c « rH >, 0) X! O E ■O Cfl rH O, ■H ^ 01 U] I .^ .-l c w w en e j= ■H Ul E X c cn E H 07 P W W CO c w w Oj rH O. •D ■»-> a -H (D cft E J2 -rt U H m ■O C XI O E 0) o rt rH a rH Ul ■•-» D. -H ^ flj 01 E J2 O ^ lij t^ ,-i P^ (i) ^ O E XI O E rt rH a C rt rH D. j= ■(-' a -H cn w e ^ ^ JD M 3 ■o C O ^^ en (J 01 C -I— 1 I III C :3 CT) III II •D 0) C u 0) c Q> o (A o c '^ 0) M VO p 0) »-l III II Q Q • a D • O Q ■^ rf in C Uj — 00 c •o '5 a u < OiO rH rt '^ C 01 +^ J -H 3 (7) r- CD tn in c-i iM r- c^j .H 00 OJ r- CO • C^ 00 (T) o Ol IN O r- 00 - Ol - m - to - o t^ t^ OJ tD Oi (M OJ Cv] ^ o c*i < o ■ 2 rH .H ^ o in < o Z iO .H cr> CN iH OJ ui '-■ o ic ■^ O rr '-V o -H '^ O .H ^ o i> < O • < O • < o ■ < o • < o ■ < o • S ® o 2 (Ti li5 z in (i) Z <7i O z w -^r ^ - iD w - tD v_. . c^ w . 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E o O ui c u < 0) 00 c DC 0) N <75 JZ 3 ■o C O ■o u a> C 0) o a> E f >. ^ •i-> X] n> •o M c ill ^ 00 c ^ 3 •4-> u n> 3 C re S T> a> k. 3 CT U < Q) OO re to •o u (J « re JQ 00 en hfl c -^ r: ■H C Jh 5^ 3 r- u to en 0) .-H ^ JD T C CO r: r O >>.>. o O O O E E E E O , O O O OJ o o o o o o o o o n o n o lO n cri w , >, >, tfi o o a. a a >, H f^ F o OJ 0) QJ n, (T. m fTi F= O^ (Ti (T) dj ■^ O) cn CD (N ^ IT) cn CT> n n n ■M n C-) n o o C-; o o o in o >. QJ Qj O Ul 0) QJ ■-H O >^ >. a QJ O O E >^ '-' .-I cj o a a rH E E o a o OJ CI E QJ Ol Cl Q Z tSl 210 MERGERS AND ACQUISITIONS e >> c re a E o U DO cr u < o c IZ c q: a> N (75 3 o en ■o w >> -,-< c •H > r: S 3 on tn CJ cc n^ 0) (•-^ o c at r c rt ■H a tn E u o ■-* tH i^ rt ij, -H dJ ■ Q D . Q Q • Q Q ■;;«;::. 43 -H ^ O <-< CM r- tc r^ CO Gi to -H O O ■5 C 3 CT' ° a c r-> O H hD -g j:: ^ — ' t. " W C •!• . a c I °' +3 i/i c rf n OJ o o o r^ --. ^ ■ Q Q O -— ^ - to Oi t- o rr CO n /j cr ci -^ rt y ^ I- (/> c w E -o x: c «/) — LU •W M Z C 01 3 (J § ^ 3 o 0) " c X O) ^ - o 00 C^ o r~ a: CTi CD CO [£ CD CM CO ■ O CD oo o ^ CD CI C'l O or o < 00 re u a> a> (/) xi "St J3 0) J -"^ in ^ ^ ^ --- Cvj ^ ^3 ^00 < ■ < < < < • < • < - z z z z 00 n Z 00 to Z I> .H w - CO -- - n ^ - w 'J' r^ CD CM CD in .H ^ C CM < o ■ z; f- CM O CO . 0) >. (U ■?■ n E x; XJ e E g n-( a nH a •n rt ^ a +j a -H 4-> D. -r^ ■M in e j= E J= "D in B x: —l M w w c w w yj •H w w w in 0) ■•-> rt w) -M (A VI -iH QJ c c H >> 0. >. t. XI E C XI E rt ^ a ,-H a rt D. -H a -H e x: x: 1/! E x: Ul W w c/a hD u W CO nJ E 'H C n! ^ O E rt W W W 3 w w m MERGERS AND ACQUISITIONS 211 >< c 10 Q. E o O 00 u < o c 0) N (7) ■o O 5J CD i-l c >, u 3 U cd tn tn 3 ■H a c cfl a 01 - 0) « hD -Jf x: -t-* y t^ " w c 1° " c •'■ . a) ^ ■ 6 ^ ■ Q Q ■ P P <]; 0! tiD -^ x: en '-- -^ • Q P X -- --- C 3 O^ tij -a ■-' a c I III to T3 ■o 4-< u •,"*", a> C « o >-l E £ >> r~ ■ n o J !M 00 t-' ■n Cjl • ■o a> u C W O -M >> ^ E 3 w w tn 01 nj rH a Q W W W 0) x: o e OJ -M a -r^ ■a » e £ c w w m ji: in 01 -M ■n CA dj CD C c •H Cl) ■H F X) O E n n r-^ a TJ crt CI ■(-' a -H ■iH in e £ r. F D w w c W a -H 0) c in E £ www ■^ E ■H j: tn (n 3 en 0) +J t. -H 01 c ■D -H O C rt J2 O E 212 MERGERS AND ACQUISITIONS c a. E o o c u < c 'jc c nj cr 0) N (75 0) >« ^ c o ■o u a> a e 3 -C ^ +J CO 10 o tc CO h- CO 111 CO rH CM W rH C^ ^ CO CO Q Q ■ Q Q Q Q • Q Q I III ca bD -r: ji: +j ^ -— U ^ tfl C -I- ■'-i ^ o +^ rxi 01 (fl bo -y x: -t^ ■- ■ O *H ™ W C •!• rr ^ ,-v ill Ti- -^ ^ • Q Q • Q Q O --' ^ ^ ^ w I 1 I CO ^ ^ ■ D Q C£) w w c 0) o O <= I "I o^ c o> ^ »^ E .. 0) O ■M n b£ 1 ^ ,-^ X) c QJ 1 c c J r- CO (N CO --V ^ ;d lO tH ■ Q O ■ a a • Q Q OJ — — a-, — w CS] w w r-t O CJl CD r- CO .0 = 1^ T t^ ir5 'T X ~ CD CO N X3 2-0 00 ■o '5 O < U) oj 5 c m oi o O CD O rj CO ■ r- CO • n 0^ f- -* - t^ ■o ■o ■o ■O C XJ O' E o o rt •-' a ^ in -M a ■H j£ rt cfi E x: o o w u w ■H en - c ^ E ^i -r^ a -^ > tn g £! U H M o C « c + c Q Q ■ Q O a s t. •C ■= -^ 00 « » -^ ^ --^ -- ai ^ -^ ■ a a Ol w --' Q) (H tin ClJ J= 4-, _ ^ O 1h Ul c x: ;^ 4H 111 -^ OJ ^ c D ai a c E -H C Q) -iH 1/1 (£> CO a c tfl C + tH tJ5 ^ lO W CC h- Ol O^ f^ CJ f- -^ t^ O 00 to ■^J' Tj* CM en N W L-3 '3- in CO in H • o cn CD eg en in i-t CO in .-» en in in CD • N T^r oi c» m s E i ':3' n n- rr ■-< X CO rH Cvj TT . rr cn ^ CO - 01 r^ w ^ M CI -^ . CD rr • .-(mo - N - 00 o l> (N in 0. J -^ o o ^ O CO ^ o r- < o . < o - < o . < o ■ :z: o 00 2 rj iH Z O 00 z CD in ^w' -^ r-{ w ^ O w - CD N eg f. in rH CD X o W - (M - O .-' --. O CD ^ a T-i ^ o in — o in o * < o • < o . < o * < o . Z CD CD w - CD w * in w > 00 in G) f- CO CO rH iH tJi O .-1 ' CD - ■^ - CM ^^ N rH n rH t^ a (Tl tn . m r. m i/i vi Ul 0) 4^ (A rn QJ I/> ClJ tn U ■i-f OJ c ■H 01 c a ■H ® c XJ >. 0) 0) >. (U r-H >. 0) C >, 0) 0) rH >. 0) >, 01 >. ID >, 0) >. qj Xl O E n E n 6 n o e tn JZl O E •■ n E n n O E ^ n E n E ■-< a rH D. Cl) rt D. rt tn nj ctl ^ a +j a -H a -r^ a. -H n a -H a -rf t. +J a -H a -n ■K a -H a -rH a) E X E jn cr E £ > tn E xi T3 W E x: tti tn E X rt tn £ Jn cri E x: E x: c w H W to w ■»-* W CO JD W CO W CO W W CO 214 MERGERS AND ACQUISITIONS c (0 Q. E o O C u < ^1 x: +j w ^ Q Q -no II II II III 111 bU ~[ tn c •*■ 1-t II (N ^ — rH " '- • Q Q ■ Q Q CO ^ "- n — ' ^ o 00 c JC c >« ^ M a> k. 4-« M 3 ■o C ^ O T3 ■o 4-* C u a> C a> o (/> u> 4i^ o> 0) i-H E .. £ >% w x> re ■n ^ •K " S o- C 3 Oi a c a c O A I w XJ br -2 x: -M ^ -^ t-< f- tn c •»• 00 a I c » M 01 IN M 01 • CO t^ - o O N tD O^ r-l CO CT) 01 CO C • to CO • CO o • in h- ID rH TT in - h- - CO - Ci rr CM CO to ^ CO r-i CM in (D in rH iH • ID to - rr - in in rr in »H «^ ^ O Oi ^ O rH ^ O 'J- ^ O 01 < o • < o • < o • < o • < O • < o • < o • < o • < o • :s 00 in ^ O f- iz in iH :a to w SI CI CJ) ^s; CM iH Z Ol CO Z rH -d- 2 W to ^ - Ci ^ - o ^ - r^ ^ - m '^ - l> '-' - rH 00 to CO CM r- to CO ^ rH in CO to N 00 o t^ CM CO f-i ^ 4-> (/) •o 0) *•» u _«> a> JQ 0) • OJ * G QJ • OJ . 0) . a -D a o -o SI -a J= -D i3 O TJ E T3 • E -O • B n • E -D • E •□ • rH (1) * O ClJ C -rt 0) o ^ ■*-■ a -H t. rH tn E £ fc, -H w w m rt ifl rH e t-i -r^ s: D x: tn 0) 4-» tw en -H Qj c OJ rH >, OJ in t-t XI e I d rH a C rH +J a -H Ql rH 01 E £ e 3 w w w -• -H 0) c ^^ Q) CJ rH Q. u! o pj u c/:) fn en (D -H Q) -H dJ C ■M rH >t CD D XI O S O rt -H O. ■♦-> (n E £ •H w w m ol 0) -H O C ■D rH >. Q) c X3 o e •H U [d CO •H tn (D 4-> XI i-i >^ 01 ri XI o e 4h d rH O. +J D. -H 4^ m E £ •H [d u tn 'H E o x: ui w en 01 -H en +j a -H ■H tn E x: c u td CO in tn xi CO tn m +j tn (U -H ^ fb >. O O E (1) Xl E rH a x: n1 a -H ■)-> a •H E J= tn e x: U CO c bl M CO MERGERS AND ACQUISITIONS 215 ol E o O 3 O c m 0) 3 •o > 0) fH a e 3 JS £ 4J ( . a Q • Q Q II II J= V -^ - I III I I I (/) ■D 0> ■o —\ 4-> c u 1 • a> r « o to U c 1 o> M «o o\ a> tH E £ >. CO CD CD rH CD Cn tn t- ■ CO • rH CD 'T O CD ^ O rf ^ O O < o • < o . 2 X iH Z '^ O — O iH ^ O • 0) . XI -a ^ -D ^ i3 -a ^ -a XI T3 •• ja T3 E -o . e -o . -H e T3 . e -a . e -a • « e -a . . (S) a jn e 0] Cli rH D. ■M a -H c tn E i= Li H U to hD-H0d O-HOC x> o s o XI o e *j a -H rH m e x: O M td CO I -M a -H ' en 6 J3 I U (d CO tn ■!-> a -H - wi e J= C U M CO 01 © -tj 3 (D *J D tn O +J D 0] 0, +j V c tH * r^ >. 0) >, rH >t >> rH .0 E x> E E O P rH a a ^ a •r^ tn E £ - m E -C - tn E x: - m E .C U U CO c u U CO c u U CO c w U CO 216 MERGERS AND ACQUISITIONS >> c m Q. E o O 00 3 u < o c OH O) N 0) Si (A 3 o 01 § 3 x: £ +j ( m -H 01 o^ "5 c 1 00 : II III Q Q ■ Q Q S° -I 0) ' I in j3 t. « 01 c -(■ -^ >" ^ "^ I" ^ Z^ ■H {fl CD ex c (/) T3 ■D 3 -t-i 1- U c 0) o (/) O Jh a) -O -H mac V i-H E £ >% (/) I. ^ in re ■D M C LU ^ U) 5 cr « -S C oJ ^ t^ r3< n O O tH T iM W --v 1 ■ U Q -1 o - en I- ■D 0) "5 u < a> re en CO oj v' <^ lo en o cv] cn n to ■ X ID ■ T-( ai • r-l i-{ -H (M ■ en r- CO eg O 00 00 ■^ - r- - o - CO - o - T~\ -H W ^ CO lO lO CD .H ID iH r-1 r-l t- 00 O CO '-v O CO '^ o o ^ a ^ r^ o cr> < o ■ < o - < o . < o - r- o 2; ID CO Z rH fO Z: 00 rH Z ic o s^ . [^ O O) r^ in CO r^ O) o 00 rH '-^ O lO < o ■ 2 CD W w - ro O) in w - CD w rH OP E ■ C C (U 3 t* 0) w c a c •a c C If 0) ■•- f- c 2 ^ 'i c +J c 01 e t. +j O o o a o 4-> 3 U 4- c ■a a C E E c o dj c to 0) to 0) tf o -t- o c to a E E Cfi 0) -H a> a T3 C a •a E E ■H Q) C ^ .J 01 c ■H 01 c ■ H o> c CO -H Q) n x: t^ -H ll> c >. (U >, 0) >. o >. 0) >> o> XI O E ^ a en Xf o e r-i a CO x> e r-i a .^ x: E r-l a ."' r-l a ." W CO rH a a r-l D. H c a -H +J B £ Q) E x: at e x: E x: u w en £ w W CO fc u w w e w u w m c in tn •a x: in tn C x: tn in c « ^ (D >. 0} o o F r-l XI O E c XI ^ a -r-l r> n. t. +J Q. -rH CO r F C CD CO E J= X a: w U CO a < W en w UJ en MERGERS AND ACQUISITIONS 217 o. E o O 00 3 U < V o 00 c c N (7) >« A 3 u ■O 3 il c o -^ « c O) O V) o «= I c o^ E .. taD 91 b£ C ■t' C ■H C f-c CO -H If O -^ -^ • Q a o -^ — I III III II III III 111 CO --^ ^ - P Q X -^ -^ III II III III III 111 III III III II III III III III III III III III 1 III III III III II II I r 111 III III I I I 3 g. « O — — I 1 CO ^ -^ CM O) tD o — '-- ■ Q Q • Q Q ■ a a o -— ^ X w w CJl CO t^ o -^ --' M C UJ — oo c c - CM 0^ CO C^ W '-- CO iXi • W Q Xi CM O CM cvi en 'JD -^r CI rH in - iH (M ■ to CO ^ lO Cvi to c (O •D "5 u < 00 (/) a> 4-I o flj 0, I ^ — • O CO ^ O CO — o o '-^ O O) — o in ■^ o -> O CN] '-^ O CTl — O CM '-. O M < o - < o • < o • < o ■ < o ■ < o • < o • < o ■ < O ■ < O - s: CM o S5 00 CD ^; CM CO 2; CO «3 Z in CM z in cT) Z in o :zi CM o z ^o r- — - 01 f o r^ '^j- 00 ■^ •3- .H CO CO r- r- CM tH .-t -^ (A d o +j C ■H CD c XI 'H c c ■i-t OJ c o c tn rH 0) >. o hn n D F O X! o e Xt e c C. Xi e <^ rH a H ■h> qi D. a -H en a -H +J a -H F s: ■W U) e j= E J= nJ u e jz 3 UJ U en X w W CO c W w w tl> M W CO dj •• tn oj ■p u ^ o £ o tn e x: +-> tn w w en tn 0) a B G x: tn tn d tn Qj +J XI O E bD X! O E a -H r-iX>OE 0X30E .-HCarHO. Ortf-HO. ■H +j a -r-c s -M a -H tiwucn Swwcn j-.wwcn 218 MERGERS AND ACQUISITIONS m Q. E o O M C u < c to 0) N in 0) Si (A 3 O 51 X 01 O 1) K 1-1 CM r-l d (S C C a la g e 0) o n c ■ Q Q ■ Q Q C^ w w CM ^ -^ "5 c - Q Q Cv] -^ -^ CD O lO Q> aj bc -5 x: +J ^ c -t- tH QJ '- (U o-- S-- E -^ • Q Q - Q a o --- ^ CO -• — 0^ in CO i C 3 ° a c CV] W -~v in ■ W Q U* Q CO rH - CM M W III CO ^ ^ • Q Q in ^ -^ W '^ III III III II (/) ■o ■D -1 c u ^J 0) c a) o a> i-i E £ >« (/) I. ^ in (0 ■n I ) III III Ul 0) +-' X III I t 1 ' s| O tiD I -t^ — „ I- ' C XI c <« « g :r CO ^ r- ■^ CO oj OO QO CO o --- ^ - ■ • - Q Q in T in o ^ --' h- ^ -^ C^l t>- CD ■ Q Q . - . CO ^ ^ CD CM >H iH CM Cvj Q Q ■ Q Q -H W ^ rH W -^ CM W -^ U Q W Q W Q ■H ra i c m cr 01 -^ T3 u 0) _: c 00 c ■o 0) < O CD X • to cn oj cn o CM r- CO r- • in in ■ o -^ r-( CO r* CU I -H ^ O CO ^ o o -V o m ^ O rH — o ^ '- O O ■"OX '^ o o ^ O IN ^ O OJ < o • < o • < o ■ < O ■ < o ■ < O ■ < o - < o ■ -^ ■o u « t. - ^ (D - O x: o -a e -a • tfl O +J T5 tn o w CQ tn OJ +J ■H ^ 0) ca >. o >■ o ^H J3 e XI E X? o e o cfl Jh Cfl rH a XI CO rH a < +J a th CD +J a -H a H rH S £, OJ e x: Vl E x: r-H U w w c UJ w to 0) UJ U CO cn CJ ■M E u x: tn 3 tn 0) a rt rH a JD -a E -a ■ 3 ■ rH x: X( o E O W W CO r r in w O J= tn tn Cl) x: tn tn y x: tn cn rH x: tn cn OJ ■(-» -iH tu ■»-> ■H m 0) +J 0) c at c c D OJ c -I rH >» QJ rH >. 0) fH rA >% 0) r-i >> ti) rH O E o e (fH Xi o H n ,Q .D r^ a d rH a n a y ■M p. -rH rH ■!-> a -H Q. a -rH ■M a f-t ■n E r. oj tn E x: •n tn F x; E s: rH E Si UJ W CO ■P w W CO M U ■•-' U w to XJ UJ W CO MERGERS AND ACQUISITIONS 219 bD 01 be C *^ C ■rf C -H > 0) Ih a § 3 jc 3 +^ 00 en (J CO 41 rH 0) >. U " § ^ g x; 5 *^ 00 I" " si 5 C rt ^ I e CO -^ :3 frr 1^ ^ " "< 00 CO iTi -r CO in " T W 00 G a^ 00 m r^ r- ■ en CO - in . (U ^ o E j-i 4-> a -H o ui E x: a w w w o . (D in iH - r^ Q Q • Q Q Q Q - Q Q Q D W Q O '-- — - Q Q cq w -^ in ■— ^ to ^ ^ * Q Q -00 in ^' ^ in ^ ^' ° a c .-H E -r- C rf O -rt !;;■"" "^sc- t tit OJ rt bD -if x: ■•-' nj -H to to <-) C 3 CJ) ni -O r-l IN a c I I 1 (/) 3 ■o C ^" U (/) T3 fl> ■o -T 0) c o 4_l a> r: o O c 1 '^ o> w vo 4-> C a> E Ji >s tf) I. 4-* n (A nj ■n (X C I ^ i: ;; c^ i5 W C + tM cyi — -- • Q Q o — ■ ^ III O '- '- • Q Q CC w w t I III I I Q Q ■ Q Q T PO O) in cn cvi rH^--v GltOn r-4^--- ■ Q Q ... . P D ':r^^ inrrrj- tow^ o — '- n X o • a Q ... 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C -H I lit . ^ ^ - i; . tiD C 3 CJi nJ a C 1^ ^ (t ^ Q) ,"l- E i; O) CO o cv] r-( ai C7i N O ID l> > ^ iH CO h- rj (£J QO ■ .H 00 ■ rH (N . CO IC ■ .H X lO X in oo - LO - iH - tD - en - IC CO ^ o t- ^ Ol (T> 00 01 r- '-- a ^ < o ■ Z 01 tc '-^ O O -P -H -H a; c Qj d ■H tu c n . o F >> 0) ■rl O E CIJ JD O E J3 O E XJ O E O XI o e ■»-> Xi O E O XI E 4-> o o F -H r^ a QJ CI] r-i a rH BJ rH a CI) ffl a frt fTl rH a XI -*-■ +J a -r^ a --H in a -r^ lA a -H J= ■!-> a -H 3 -M a H V r^ -^ E ^ p E ^ 3 E x: cfl U) E J= ■t-> tn e j2 rH tfi E x: ■4-" h B -c rt ■7" w m d M W CO rH W u en d w UJ w ca u w en 222 MERGERS AND ACQUISITIONS, re a. E o O 00 er u < c ni •a c O V) -D bO tn be d +J C 1-1 C -H > 0) »i a e 3 jr £ +-■ CO < CD I J3 3 c ca c c p. Ul E E 0) O n c VI C '*■ c 111 tir 111 o)'^— III III a -^ -^ . Q Q . 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X — - in -— - (J) — ■ ~ a w - cvj ai o iH tH M M in en W r-l in CN] t- < a • Z to CD ■H tu c -H -H >. a> >> o •■ rH >. oj rtl JD s tn XI £ n F Q) aJ ^ a he CU ^ a ■* ■t-' a -H 0) -M W B ^ (5 w hfl w e j= w tn 3 W b£ U w « tH JD O H C -M D. tH (fl en 6 J= Ih w w w C -H » (1) 3 C ^ O E -H aJ .-* a >. I ;i; (y nj .-4 a c w u w 224 MERGERS AND ACQUISITIONS c ra a. E o O w 3 u < a> s: 00 c IS c re (/) tin VI bC c 1-t c c ■H > (^ nS s Ifl a c^ <«H rH J3 C OJ c c o 2- II III III III 111 t^ ^ ^ lo >-i en ■ Q Q ... IN w w W O) H III lit III III III II CD t*j CM cn ■ c nl bD -S x: -t-- — ^ tn 2 W C -1 ^ o o o o -I J -■ e Q Q • Q Q 0) JC *■» >> .Q (A 0) k. 4-* M 3 ■o C •^ O (A -a 4-> u ■^^ V c V o O c 1 •~ at 4-* vo c o\ a> t-t E JC >^ (/) ^ X) (A 3 4-* •D M C tu ~~ QyD c C 3 cTi J3 +J w ^ « C •!■ J= II III III III III III rt a c O " Jh ^ III III Q Q • Q Q r* to r* ro —^ — > • - ■ Q D in C^J CM U3 ^ w m r^ m o ^o eg cn eg o -h 00 CM X in r- r^ o ^- r* c^ cn '-I T C yi m ^ o "I. O CM lO ^ Q ^ rj' O - CD 'J' ai eg in CO X X • w c^ ■ CM rH (£> rf - to - (£) in w o ■ rH O O "5 o- u < a> ao TO « u - o o - o ^ --> O CO --V o eg < o ■ < o ■ < o • < o ■ 2 CD ^ ■Z <7> '^ Z CD . Q) 0) >^ (y >, n O E > n E <1 rs tfl r-t a ■H « r-t a. -p ■*-• a -H a. -H a E j: a (/I s x: OJ E x: ■M w w w tn w W X XJ C E Wl 0) 4-> s- C i! O E O J3 O E ^ J3 E Ih Ctl rH a rt ■M a -H E x: a) tn e x: W w w dj XJ x; CO cn OiiOE axioE MERGERS AND ACQUISITIONS 225 bD n V; C ■*-» c ■H C ?.§ 3 tr (J (0 m ^ w « ti > ^ ^ - i; - W ^ III I I I ^ <^ It III 0) ■4-' X C 3 CTj a c E -H C O -^ ^ lO n; <» 0, _! ^ O CSl ^ O 00 '^ o en < o ■ < o • < o • ^; in ^ :c ID r- Z QD en ^ - ^ CO ^ 00 CO n in --^ O CD < o • < o • Z O] rH w . (V, •— - CO '^ o r^ < o • z en oj --■ o in < o - Z -^ r- — ■ - CO X3 o "O JZJ O -D ■iH J2 cn in TJ x: V) tn 0) x: ui in a> j:: in w o j:: in in O +J c 0> e in QJ -M E tfl 0) J-* E tn 0) J-* Q) OJ c -I (1) W -H 0) c >. Q) 1— ( >, (1) >. 0) >. 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(/I k. ^ 3 ns 4-* ■o \n c UJ ^ 00 c II II II lit III h 2 01 c aj >; -^ n -• "I ^ :S "^ ^ :r S| ^ n C'l ^J D 01 C n >> 0) t4 J3 rt u D -H Qj C tfi [fl Qj +-* C J3 O E t. ci] r-( a CO o -w a -H . 01 c xj o e Ctl Cj i-H Cl ■M a -H Ti tn E x: c w w « ClJ -H ^ to to *« CO 1» ■»-> •HOC tm rH :>> (D c £ o E ■H nJ rH a jD -M a th e m E x: 3 W W CO y rt rH a -r. ■*-» a -H MERGERS AND ACQUISITIONS 227 c *^ c > Ql t. w y to a> iH Xi J= -M — ^ 01 C * > in ff) CD n i^ ^ en N ■^ .H Q '- .-( Q -- CO (N CT) tn rH in tH Q ^ eg td ^ 00 en 00 to • o * O Q .H h- . pa Q (JJ O) CM en O in o tn - CD - CD - W - o - 00 r^ iH 00 00 00 CD CO 0^ rH oi in oi -^ in • CD C4 • cn oj • CM 00 • h- T?* CI ■^ in f- ■"^ 01 o en th in t^ • iH t^ en +^ 9 -H 3 CM CD CO O O * i-l ■^ O ™ c w I c w r-4 ;^ -H '-• O 00 ■— o en --^ O i-( — o ■^ '-- o -^P < o • < o - < o . < o . ► in - ^ o t- ^ o O — O OJ < o • , CD T3 J3 O E CU rH D. rH V Q. -H rt w e J3 V w w w f-H a E x: w CD ■a tn o +J 0) -H CD C +J rH >, CD rt XI O E O Cfl rH a tH +J O. tH jh u) e j= A u u en fh X in in CCl r-l p. +j +j a -H H) in E j:: 0) W W CO 51 O -H QJ C in +j a -H 4-> cfi E x: iH W W CO cij Cfi 01 +J O Xi O E o in E x: en 0; Qi Vi ^ 0) «H JD O E rt -H >, O 228 MERGERS AND ACQUISITIONS C re Q. 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OJ «1 J3 O E a Rj i-i a. ri -(J ex -H rH W W W 0) -H , 0) 3 XI O E t^ 03 ^ CX ■p +j a -H tfi w E x: C W td W 3 C = X i >. e +j CO bD d > cn E -P C -a 01 C E C T i C -P c ■H cu hn c cu > c in p c ■D 0) C E C ■a E (flw Exicnco rfj^cntn (Up c/iQjv cnOJ+J QJC -D-HOlC cni-(0C OE (UXIOe OXiOE r-, o O XI O E >, cU ^ & 0) +j a -H > m E J3 c u u to MERGERS AND ACQUISITIONS 229 bC CQ bC +-■ r-i C +^ C n rt 0) o t- oJ E 3 w u yj = 5 i i' i; - T3- --. — . ■ Q-D CO w w o -- --- ■ Q Q CO w ^ 0) rt M -2 j= -•-•■- ' r^ ^ --. • Q Q ■ Q Q ■^ fH O) in — — ' X •-' ■— ■w 01 ^ ^ ^ -^ o g c M -' b c ri T T O tD t-- 00 ':t r^ ctj en CO O — -- I ■ Q O CO — — 3 :: ^ o < O ■ Z r) in < O • 2 00 O) ^ - O) Ol CO '- o o <; o • z CO r- c t: i g c 0) c x: y (d u: E 4J C W 0) ■M E C 1 C Q; -u C C ■H (U s: E c i E c >, 0) c a c c E E C u (U c y e ■H C ■M E C T XJ ■r E ■H -H 0) C in x> o e oi^oE ojxioe -M & -H ■H +J D. -^ -H +j a -H W E j:: O W E X j= in e x: www cu w w w u u u en 0CJ30E (-.^OE ^ > -(- Q. -rH +J Q -H rt-iviEx: -otfiEx: ^JJ^WWW OWWW a u u] 1/1 230 MERGERS AND ACQUISITIONS >> c re Q. E o O U) 3 a u < 0) o 00 re N <75 13 M " M > S t, CO S 3 ■= -S t^ tJ 00 - o ® o 2 ■" ^ Is" nJ bC "S Ji; +J "-• --^ II III r 01 § jh 2 £ £ +-" •I- ^ Cvj ^ ^ • Q Q n w w co ^ CD ci) ^ r^ t^ ^ ^ • Q Q 00 w ^ t, K U S •H CO CO £ C 3 CJl ° a c rH e -H C MO -rf < CJ c 0) 1 I m ^ M ■S x; -M — ^ li 2 in c -1 T, hr VI t4 t. (It a) CTJ ■.0 c D ca -n rH a c c y c X 01 C -I' J= III III ■o c ^ u (/) -o 0) ■o T s C u +^ 0) c % (/) ^ •♦>• ^ (A re ■o M c UJ ^ OT (1} +-> 00 m (£t hfi c :3 ai h rt TJ W rt a C rH •H C r- r* rf oq O CO T N t^ O^ t* Ci Si ^ in 00 rH (D rH M o] tn ^ >> Q -— 00 r- i> W W '-- Q Q o - W Q O CO ^-^ DO u < bO re ^^ u « rr . h- <£> ■ ^ in . N W . o o in o in w Tf a> o n - TT - t- ^ - n ai in t^ rH 00 t- en CO CO CO O ID (N ■^ 00 01 CO in • 00 h- • in o> ^ IQ D J -H 3 '^ o ^ '- o ^ ^ o ^ ^ O ^ O t- ^ O w < o - < o • < o . . QJ c en (1) -p - ri rH D, ui +j a -H a in e j: E w w m rH tn e , rH W a rH -P a -H r-t m e J3 O U tU CO en -M a -H 3 in e j= ■O W W CO rt rt rH a ^1 ClJ ■M ^-t a -H tj in e £ a> w w CO MERGERS AND ACQUISITIONS 231 bO 01 bD - ■*-> C H C •H ^ 0) u 2^ 3 -t-" CO o CO a^ •H J2 3 c at C d a 01 S e a> a fi -4 ^-1 >. u l^s y « " S tn c -I- c O en o n N eg ^ ^ a d C •-( 01 s. ° x; *■ - ^ M c •!■ x; ■M tn u in 0) n> hfi c 3 fH cfl •n nt a c e o .-< o lO ■^ M to ^ -- • P Q 00 -— ■- ro o ^ - P Q O C> (X. ■^ oi n r- rr in 00 t- 00 r- 00 .H CO ic m O) m r^ r3< iC t^ ■T O . CO 1-1 . to X . rH M .H O) o ^ 00 in r-l t- Tj- ;£) r-l -^ in - (S> - tc - N - eg - r^ t^ eg CNJ ff) ff) rS Ul PO eg rM 01 5 a, ^ ^ o r- < o - Z rH O CM fO ^ O in '-on --V O 00 ■^ a '-^ a -r --- O CD ^ O --H < O ■ < o ■ < o . 2 eg in Z in 00 2 rH M Z; t^ 00 ^ - o •-■ - UD w -eg w . (£, w - yj ■^ eg i^ eg in t-* 00 00 O CO r- CO ■rj- r- e x: (0 01 .r 01 01 ■rH ■*-> cn 01 0) -M QJ +J +J ffl Ul 0) -P tJ .H 0) c rt ■H C tH >H >. QJ >. 0) OJ £) E y XJ O E c hr E cS ^ rt D. t4 Cfl rH G. o nl rH a F +J Pu -H o D, -H CJ ^H ■H a -H n Ul e j: E .C E x: +-> W OT s W w w f-, 01 W w w nl Cd U cn ■n r: 01 tfi o Ul 01 c 01 Q> 0* +J ■H OJ c C o c >i (rt >. 0) fU X) o rH iJ o e rt 0. (fl <-* o. +j P. ■rl 0) a -H 01 H Ih U CO 01 UJ W M ■M £ Ul 01 t* 01 0) -M XI O E bD .Q O E - rt rH a x: rt , O. -rt t- 4J D, - 232 MERGERS AND ACQUISITIONS a. E o O bO c 'C "5 u < U) c is c N a> >« ^ ho «n b£) c -<-' c •H C -H > . .!£ i: uj — u "5 c ■o a> u < U) in +j tu to ho C 3 m U rt) ■n nj a c ■M ^ ^ tr « ^- ta ^ fO CT) - r-l t^ - t- 00 n - r-l - r-f Ol t- n in T CO to (£> Ol CO OJ ^ CD CD cn w • KD t^ • CO 00 CO in in v-i - - 00 - r* CO Gi O) CO in - (M - CO - — CO '- C Oi " CD ^00 < • < ■ < • < ■ ^ CM z o^ 2 CM (J) Z CD Oi ^00 ^ CO ^ to ^00 < • < • < ■ < ■ < - z oi 2 00 Ol Z t^ (N 2 CO in 2 (J) CD w - cn w . C^ — - . OJ >, 0) >> 01 >. 01 ^^ X) E bD X) E E ,Q e rH 0. 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E x: F F s: w OJ w UJ Kn 0) XI o e o in 0) 4-1 o -H 0) c tH rH >> (D 0) -t-" a -H XI en E X ^ W Ul CO MERGERS AND ACQUISITIONS 249 bo (n be C ^J C ■H C -H > 01 h sea j3 5 -tJ a> m o CD m -H ca CD (U rH (M .-< •H £1 3 £ o c c O ° T^ oj rt bfi ■€ j= ■*-• Q Q • Q Q O ^ ^ • D Q in ^ ^ (1) <0 M ■5 O] lO w a. ^ ^ . Q Q 00 Tj. in ^ ^ ^ QJ ^ ^ m to 0) oJ U) ■= x: -tJ ^ u t, ™ to d -1- Si's " ":^ 00 --. r-v ■ Q Q O — --^ I I I I t r I I III u) 0) +^ 01 bfl c 3 en Jh C8 T> r-t ! en c + tH C£l ^ ^ I • Q Q O w ^ O ^ ^ • Q Q (M w w C OJ _^ fc. ' C J2 . . 0) i-H >. <1) ti >> . QJ ea ja e r-t XI e t^ £ E fi X3 E Q) X> E CJ CTJ rH a r-( « f-t a (1) a -H a -H rt ■*-> CL -H ^4 Wl 6 £ U CO E x: *^ E x: bo to S CO ^ w w m to w u CO (4 w td CO UJ W CO bo a C -H or C O -H >. (1) y JD o E 3 x: in in ■a CO Qj ■!-> o -H Q) q a J3 o E 250 MERGERS AND ACQLMSITIONS c (0 a. E o O c o < 5J c o c c III 111 III I III ^ ^ -^ ^ o u ^ 1/1 c ^i- r^ ' rH "^ rH I III U) c je c ra cr 0) N CO v £ *^ >> ^ a> ^ 4-f M 3 ■o c o trt -o ■n c a> o % ^ (0 A-) 3 ■o lA C UJ "" tlO c II en ■ I ill ^^-^ III 111 III • Q Q c^ -^ >^ II 111 III I II III I C .H 0) (L I to J3 0) rt bO -r JS -t-- ^ . y h °t tfi c ■!■ S. o' lit II III III III III III III III 111 III III j:: -M — ^ bn c t: I I I III It) ^ D- « • Q Q • Q Q Q Q • Q Q ■ Q Q -OP h- O rH to W r- rjl -. ^ Tjl ^ ^ . Q Q • Q Q CO -— — tn w w -H 6 W '- fH W '-- -H Q ^ w Q ^ iH Q - W Q W Q Q Q Q Q Q Q XI 0) a o < 00 IQ 4-* 0 Cv] Ol to o r- r^ • r-( UD . ^ « (N n c^ ^ iH in o ^ o r- ^ O Oi ^ O rr- < o - < o - < o . ^, O CT) Z --( lO z « -^ w - o w - t^ 0^ C^ CD O) -H ^ O CO < o • 2 00 in w - to a -H 0) c o w tfl bj) rH >. 1) m ^ >, O 3 C XJ o D ^ E •H ■H W w w ■*-* UJ W CO > XI o e (!>■»-' c E m 0) >, OJ D bit rH >, 01 131 -M tn at u 0) -r^ (1> d {£i tn ^ CM 01 ■ ^ O cx>oe oxice sjdoe oxioe t^ -i-j a -H E £ u in E J= 01 Ul E a m c w u w (h W W O W E X: W fH C M W CO OJ O ifi E x: y w e x: bl [d CO U M CO MERGERS AND ACQUISITIONS 251 >> c Q. E o O 00 c o < o re a. N in a> ■H C (U rt ho -S x: w ^ ^ m ^ ^ . a a ■ a a C5 w w O ^ --' x; j3 -u t< tfi R 1-. a; o 1-^ -i-( 0) X ^ lD CO '-I in CD -H in tn c 3 c a c o 0) c 0) o « (/) k. ^ re ■n x: -H ^ '- 01 -H m CD O be I -I-' ^ CM 00 t- X t^ r* ^ r- M ai • UJ OJO c ■o < 0) QO rl TO c H SI'S O X r- r- CD -H rH to ■ c-i r- • 00 t^ ^ o - o - o to t^ n o tC CO H 00 - H in in c-j iH CM N 1-1 TT to CT) 00 ID - in (£) r* CO T in in CO (D to o" 01 re o ^ O C7. ^ o cn " o o -- o in < O • < c ■ < o • < o • Z t^ CD Z CO -^ z: o r^ ^ - o ^ O en o CO -^ CV] CV) Csl - CO - o] (£> - in o < o • Z O CO O -H OJ c 01 -M a -H ^ W W CO T5 j:: « in 0) w w en -C in en ti en a> -M p. -H dJ c -^ >. 0) P^ J3 o E t^ £ tn in TD in 0) +-< - -H >^ (D be J3 o E ^ w td m •o tn (u -p ^ QJ OJ race t^ a j= in in tJ o in 0) +j O -H 0) c tic +j j3 o e c D. w r-< a rH o in E J= W W CO 252 MERGERS AND ACQUISITIONS c w a. E o O 3 U < bC c n N •o c O W) (n a +J •H > a> >v 01 F .c: £ +J Ol to « ^D in 3 O) i! s:^ ^ -H m tD i C 3 O^ ° a c rH E H c r-l O H t I C 3 CT) a c J- JJ w ^ « n -i- x I I I 0) 4-* VII 3 C o ^x- « C 0) o Crt o c 1 •~ o M <-> c 1^ 0> 1-1 E s: >« . rf ■ to r^ lO - ^D - -^ - b- h- i-< CO «T .H in ^ a c ^ O X < o ■ < o ■ < o ■ < o < o ■ ^; w to Z X ^ 2 CD O z r- in --- 'X w . f- ^ - t^ w . X r^ CTi en .-^ in ^ ^ - CO - CO en - < o ■ z ^ <^ w - fS) CO CO ^ o o ^ o r~ ^ O N < o ■ < o ■ < O ■ Z; O^ ff) Z ^ 00 Z »o O -^ - 00 w . 00 01 r^ t£) IT) 00 0^ O) - CO - m - ■o '5 o- u < re d> ■o « u « (i m jd re u (n (D +J (/] en 01 ■*-> ■H c H >, d) X) >, , 0) I- j3 o e oj 01 ^ a t- W U X p. a -H t^ in E x: XI w U CO MERGERS AND ACQUISITIONS 253 re a. E o O DO C or u < C te. 9> >< ■o c o (A 5J O CD d) ,_( tM r-t " iC- i omtH m^v'-v cn^^v m^^,-^ o^^'^ cn-^^ ••• -QQ -PQ -QQ -QQ -QQ nrHrH OJ^^^^ lO^^-' C^]w>_- rH^^^ ^-^^^ lO --V -^ • a D CSl w ^ W O t^ C^] i-( O ^ <+H "* W) W C -t- ■<-) r^ ^ ^ • P P o w w C .-H 0) ^ ( to .D O t, 2 ■" C •!• J= <-• t; O .p Q) c oi O tn O c I — o E .. m = " "n ■•-• — lA C UJ — c II III II (y -H (fl CO (h i5 "> C •*• "w III III O tlD I -H CO '- ^ • O P ^ ^ ^ o ^ ^ •Tf fS3 (Si - Q Q r^ r; CM Q Q ... . Q Q I" 1^ UD tD r-( W ^ eg w ^ t>- • u a W Q T O - (N CO X * t- o - 00 iH CO r-t t^ in (7) c^ m ■ ro iTi - N - 1* 00 CD rr rH ST CD lO ■o < a> 00 ^1 1 < o • ?; o in lO o ^ o o < o • Z ^D OJ Z in (£1 Z O CO « (n m ^ — o t^ ^ O C7) — o r- " o in < o . < O • < o - < o - z oi n ZOO Z ^ GO ^ . o w » t^ '-' - 00 rr M -H Tj- t^ tc ^ 4-1 (/) ■o at 4-> u « w (/) 6 0) . o OJ • m Q> . ^ -a o -a ■o x: o -D e -o • E -O • E -O • ^ H ui in n r. en m to x: tn tn a x: tn tn ■M x: w tn n .c (0 to a£ to en ii CO to 01 j: ffl 3 tn 0) 4-1 a) en (U -u ■U (0 Q) -M 6 tn 0) +J 0) -w 0) (D -(J a to 0) -M -n (0 HJ rH tn a> +j 0) C ■*-> -H 01 c c -H Q) C 3 -^ (U c . 0) C rH >> 0) >» (1) c >. 0) ca >> QJ X: rH >, 0) crt rH >. 0) >. 0) F x: e 0) X) O E XI 6 Xi O £ to XI O E xj o E E to xi O E XI e to x> O E crt .H P. ■p rt rH O. rH (fl rH a - OJ rH a fll rH P, u m rH a crt rH a nJ r-H a trt rH a a 0! ■(-> +j n -H ■H 4-» p. -H (1) +J a -H tn +J a ^ i-i ■(-> +-> o a -H 0) a -rH a -H a) a -H ClJ +J a -H (1) tn £ x: A tn B s: u to S j:: -M n E x: m tn E x: o rH E j:: e r. rt to E £ > tn E f:. •-* to E J= 0) ux W CO w m bJ U CO rH W W CO +J w W CO 0) UJ td CO tn UJ W C/^ ■M w W CO r-" N W CO f-i w w en 254 MERGERS AND ACQUISITIONS C re Q. E o O bO c 3 or u < w _c !S c re Q£ a> N (7) 0) 5J bD -5 £ +J w ^ t. " m c + c III III I III I III III . ^ i: - i; . u ™ w C -I- -o III 00 ^ ^ . Q Q « w w 111 III III J 0) -P o^ :5 c 3 O) II I I r III III III III III r I I r I I III I I r ■o c ^ O v> ■D ■a v •■-> C w ~ a> c a> o (O O c 1 ■~ O . (/) k. 4-« ^ (A 3 re 4irf "O lA C lU ^ 00 c k. 3 4-i u re 3 C re tf) Q) -P O m -H ui CD bO C D Cl «! a c C ^ 0) A I (0 ^ III III III lit to -^ --^ • Q Q •:}< w w III 111 Q Q • Q Q J O" « "I a) y ^ iH t- t> iH 00 t-- r- '-V ^ III in -^ -^ • Q Q • Q Q or, w w ■rr W s-' J" c J= o 3 ,-1 •^ " I-, a g c t; iH in Oi 00 W O O t- Cl U3 -^ a> Tf CT) O r^ tn o to 00 in 04 CO -V "f o . CO 01 • a> to ■ w in • en H . r-( TO • (N iH . TJ- O CO n N 00 Ol 00 O N - Ci - ID - r^ - w - ^ . Cl - O - IN - ■*}• 00 o 01 N N ■ - t^ - o - N H 1-i iH y^ O CO < O - ^; to t^ w -co ^ O h- ^ O 00 '-^ o w ^ O M ^ O 00 < o . < o . < o . < o . < o . < o . 2: c^j 00 ^Z, CD CO ?::; 00 t- 2 V OO 2 N l^ :z; 01 in w . 00 ■^ - CD ^ - to w - h- W tD 00 o in tj- 00 00 t^ ^ t^ 01 W CO - rH « i-H u < re u 0) Si ro tn w o Fi in u] c j2 w tn £ U) 01 0) -P O W) Q) +J ■H (n (U ■!-> ■H CO a) +J , (U >. O >. O rH >. E bJ J3 E -p E £ 0) en E j:: e j: f= x; U CO ■M W w w S W W CO c w w O >, en E , O C JD O E bC 'H rt rH a c x: +J a -H ■H u tn E x: c CO H w en rH rH >v (D d CO tn en n1 ? tn CO ■n n CO tn H tn ui (U +J 0) J-> C OJ -P rH tn -P OJ c ■H (D C d) c m ■r< 0) c t>i 0) ;h rH >> QJ rH >> 0) ■H rH >, o e n ,Q E ^ E u JD E >-, (fl <-i a m at +J a -H 0) •P &-r( +j ■p a -H +J a -H E j: > Sg tn tn S5 3 tn e j= u en c w ■rl N MERGERS AND ACQUISITIONS 255 Q. 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QJ c rH >> 0) I-I >, at c .D e o XI e > 3 in I rt 0) -tJ X (h a c I <4 tu u X t* 6 ■H a> j= x: (^ J= tn a 0) -tJ .H cd JS o --H L« ■I-' L. .D bD O -M cij O U -M ■rt -D CU tn rt-HOJC tfl-HtUC .C-H ■H X3 E U lA r-i O. +J +J Q. ---I o m E x: u U CO -H £, S > £l tn tn ,o .r. in tn tn tn 0) V m a; 1-1 en a> -p 0) c X) c x: ■H QJ C >. o c cu >. 0) s rt XI h > Xt E rt a a -H .» +j a -H tn 4-* Q. -H £ x: o e 4= o [§ CO w w v: ■M 260 MERGERS AND ACQUISITIONS re a. E o O 3 < o U) c re q: N (7) 0) (A 3 O tiD D) hn c ■»-' c: ■H C > Q) Ih ^5 3 n-i m 1-1 rt rr (D M 4H •H XI T C cd C c (A -P a ui f= E 0) III tO^^ III 01--v^ III III III CO^'^ ;o^-^ ■QQ -QQ -QQ 'QQ C r-< QJ ' I O t. "* Ifl a c M 2 ^ C '1- J3 f-< t/l to C D (J) W) -o a> 0) 3 C u •4-' 0) c lU o (/) o c 1 •~ O *-• c 0) •-H E f >< f/) k. 4-* ^ «A re ■n (n 4-- HJ ^D tU) C ■J cr> (^ ni ■n a r r-i ■H C ™ in C + V( O fan I -M tf-S « s ■*^ ^ ^ n n o -^ (N CO ■ Q Q W W C^] ^ >. 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X3 E £1 E ffl i3 n F c: n E U Rj nJ rt ^ a CO rH Cfl rH a & -rt O +J O. -H a T^ a a -H E £ > 01 E x: in E x: 0) 0) F (h 01 E x: W CO rH W W CO Ul W CO E U W to UJ W CO 262 MERGERS AND ACQUISITIONS >> c Q. E o O no c < 00 c c n> « N <75 3 o c/) -o ■o 4irf 3 C u 0> C a> o CO o c 1 •~ o M C V .-1 E £ >» tn ^ ■4-> A 3 (A C UJ — 00 ■o '5 o* u < 00 ■-5 H re XI TO ho en b£ c -u c c: cd c c M ^ ' ■■-I tn c D m ffl a :: f= ■H c 4-1 tf) u in 0) o fi to bo c D C^ rt ercen of al large estab- llsh- w ja • Q Q 0^ ^ ^ E i! S °' c ;i; cu w d •f' 'H U L C O Ki-gMu^in-gu U) c ;; 0) ^ U5 X ► to in r-« rr to CO -H en ■ in 00 to en CD in to CO CD T en 00 in CS3 t^ ^ o in < o ■ 2; m X w - o X ^ < o • 2: CO ^ O CO < o ■ •Z. ^ Q^ o. ^ c rn tfi H) c o qj 01 >, a c JD £ +J a w (fl F c ■y M W ■D -H O C J= w 01 to o H O c .-< >^ 0) XI o F 0, *j a ■H O (fl E .C O W W CO t- W W CO ra .-1 a CO CQ rH a a -H tn e ^ 3 « E J= W W CO C W W CO dj o

! >. >i o o o E a a a ^ e E E o QJ O 0) tn en CI 01 dJ 01 O) en 0) 01 Ol O) ts^ - - * o ■^ O) Ol rH M Ti* oi a E O O O 0) o o o o o o o o o o o - - . - o o in o o tn tn tf) 0) Q) OJ (1) OJ (1) >. >. >> o o (1) o a a Q. F h h o aj 0) q; a m m Ol F m Ol 01 01 01 en en (M TT 0") 01 en o o ■4-> C5 C5 o c:) O o n o o n ii> w CJ U3 u [IH n rr w Uh o 1 fi) . ClJ CD C CD o 0) a QJ >. >. 01 a QJ o O o F >, a rH F F O CM a F 0) q; X CI) 01 01 C •q- 01 ■o c en ^ x: en o ■)-> •*-> CI o > o +J ■H O u tfi o o 0) o n 0) o o in ■*-> ^ CS] iH w c 0) < ca 1 J Q o s: < m O W U) j-i U) APPENDIX A Technical Notes Part 1. Acquisitions by Large Multi-Unit Companies: 1967 to 1971 Sources and Methods The data presented in part 1 of this report are a byproduct of information collected during the 1967 Economic Censuses and during the 1971 Pilot Precanvass, which was conducted as a part of preparations for the 1972 Economic Censuses. The 1967 Economic Censuses covered some 4.4 million companies and their domestic establishments. These were companies which had establishments classified in mineral industries, construction, manufacturing, mis- cellaneous transportation, wholesale trade, retail trade, or selected services.' The 1971 Pilot Precanvass was primarily an establishment mailing list updating operation covering all of these companies with a total employment of 2,500 or more in 1967. In addition, a sample of smaller companies was taken for processing technique analysis. Company-establishment files developed in these two operations were used to identify, through an establishment matching program, acquisitions made by the large Pilot Precanvass companies between the end of 1967 and an undefined time in the second half of 1971.^ A file listing the 1971 establishments of these companies was matched to the 1967 company-establishment file in order to identify and separate out establishments which were owned by the same companies in both 1971 and 1967. The 1971 establishments which did not match to a 1967 establishment record were broken into two groups according to whether or not the 1971 establish- ment record included a cross-reference to previous ownership by another census company. Those without such cross-references were provisionally treated as new ("birth") establishments which had come into existence subsequent to the 1967 Census and showed no indications of ownership change. However, due to incomplete recordkeeping in the 1967 Economic Censuses and certain file clean-up operations prior to the 1971 Pilot Precanvass, this group also included some establishments which had changed ownership during the 1968 to 1971 period, as well as some which had existed under the same ownership at least since the end of 1967 (especially establishments newly reported in 1971, which were in industries not within the coverage scope of the 1967 Economic Censuses^). Insofar as was possible, all of these "birth" classified establishments 'See appendix B for a detailed list of the SIC industries which were within the scope of the 1967 Econorriic Censuses. Industries not on this list (e.g. in agriculture, finance, or government) are out-of-census-scope industries for the purposes of this report. No unique establishment affiliation reporting date was specified in the Pilot Precanvass company organization report forms, which were mailed in June, 1971. Each company was simply asked to list each of its establishments, including those under construction or expected to be in operation at any time during 1971 , and to return the forms within 20 days. ^ For the first time in Census operations, the 1971 Pilot Precanvass updated the Census master file to include a listing of all establishments of a Census company, rather than just those specifically within the industrial scope of the Economic Censuses. were, in time, correctly classified on the basis of research utilizing other Bureau of the Census data files and public information sources as being valid birth establishments, acquisitions, or 1967- owned establishments. All 1971 establishments which could not be matched to the 1967 establishment listings of the same company, but did have cross- references to pre- 1971 ownership by another company, were determined to have changed ownership between the end of 1967 and 1971 and thus classified as acquisitions, either whole-company or partial. In this report, a whole-company acquisition (or merger) is defined as the transfer of more than 50 percent of ownership or control of all operating and administrative establishments of one census company to another. Partial acquisitions are those cases in which only subsidiaries or groups of establishments were sold, or cases where the original company went out of business and its establishments were sold to more than one company. All cases in which single-unit companies were acquired are thus classified as whole-company acquisitions. It should be noted that the procedure used to identify these 1968 to 1971 acquisitions is to some degree biased in the direction of understating the true amount of merger activity occurring during the period, even barring possible undercounting problems due to incomplete recordkeeping. This is in part because the procedure counts as acquisitions only net changes in ownership, rather than all changes. For example, all establishments which belonged to the same company in 1971 as in 1967 had the same company- establishment identification numbers in both years and thus were not counted as acquisitions, although it is conceivable that some of them might have been owned by another company at some point during the 1968 to 1971 period. Similarly, establishments which were identified as acquired establishments were counted as acquisi- tions only once, as acquisitions of the company which owned them in 1971, even though they could possibly have changed ownership several times between the end of 1967 and 1971. Also, since establishments had to be in existence at the time of the 1971 Pilot Precanvass in order to be counted as acquisitions, any establish- ments which changed ownership during the 1968 to 1971 period and ceased operations prior to the end of the period would not have been counted as acquired establishments. Finally, given the number of acquisitions recorded, the identification procedure used may also be biased towards underestimating the number of whole-company acquisitions and overestimating the number of establishments classified as partial acquisitions. This is because a situation in which one company wholly acquired a second company and subsequently divested itself of part of this acquisition to a third company would be counted on a net acquisition basis as two partial acquisitions rather than as one whole-company and one partial acquisition. The reverse situation could also occur, of course, but it would seem less likely than the situation described here. 265 266 Data items and Tables The employment data presented in tables 1-5 of part 1 were collected during the 1971 Pilot Precanvass, and for each company or establishment they represent the total number of full- and part-time employees on the payroll during the pay period which included March 12, 1971.'* Persons on paid sick leave, paid holidays, and paid vacations were all counted, as were salaried officers and executives of corporations, while partners of unin- corporated firms were not counted. In tables 1-3, acquiring companies are distributed vertically on the page by their 1967 enterprise industry categories. Enterprise industry categories are also used as a basis for distributing acquired companies and establishments horizontally across the page in table 3. In the case of an acquiring company in category 52B, for example, acquired companies or establishments also classified in category 52B would be counted as being in the same 3-digit category, while acquisitions classified in categories 52A or 52C would be counted as being in the same 2-digit major group. All acquired companies or establishments classified in other enterprise industry categories, however, would be counted as being in other 2-digit major groups. In tables 1 and 5, where acquisitions are distributed horizontally across the page according to their acquiring companies' 1967 activities, incomplete records and coding made it impossible to determine whether the 1967 activities of acquired out-of -census- scope establishments were ones in which their acquiring companies were already engaged in 1967 or not. All acquired out-of -scope establishments were classified separately in these two tables, therefore, rather than being counted in the columns for secondary 1967 activities or wholly new activities of the acquiring companies. Within-scope acquired establishments (except for CAO's and auxiliaries or manufacturers' sales branches or sales offices) not acquired by companies classified in the same category were counted in the columns for secondary 1967 activities if the acquiring company in 1967 had at least one establishment in the same category. Coding The enterprise industry categories by which acquiring companies are classified in part 1 are 3-digit groupings of 4-digit SIC industries designed to employ the SIC industry classification system used for establishments in constructing a classification system which is conceptually meaningful for consolidated company aggregates of establishment data.^ The 1967 enterprise industry category classifi- cations of companies in this report are based on the companies' 1967 activities which were within the scope of the 1967 Economic Censuses. In the case of a single-industry company, its primary enterprise industry category is simply the 3-digit equivalent of the single 4-digit SIC industry in which all of the company's establishments are classified. For multi-industry companies, the primary enterprise industry category is the largest such category within the company's primary industry division,^ with size and primacy being determined on the basis of establishment payroll data. In company classification there is a single exception to the rule stated above. In order for a company to be classified in the special category 29A (Integrated petroleum extraction and refining), it must have operating establishments in SIC industries 1312 (Crude petroleum) and 2911 (Petroleum refining), which are in different industry divisions— mining and manufacturing. In addition, the aggregate payroll of its establishments in these two establishment industries must be larger than the corresponding aggregate for any other company industry category. There is no 4-digit establishment SIC industry equivalent to company category 29A due to the category's interdivisional definition which is tailored to recognize the degree of company integration in petroleum extraction and refining. ■^For an extremely small number of establishments which did not report employment data during the 1971 Pilot Precanvass, but which did so during the full 1972 Economic Census Precanvass, the employment data are as of the pay period which included March 12, 1972. ^See appendix B for a comprehensive list of 3-digit enterprise industry categories and their SIC industry equivalents. * Either mineral industries, construction, manufacturing, miscellaneous transportation, wholesale trade, retail trade, or selected services. See appendix B. Part 2. Acquired Large Manufacturing Establishments: 1968, 1969, and 1970 Sources and Methods The data presented in part 2 of this report are a byproduct of information collected during the 1967 Census of Manufactures and the 1968 through 1971 Annual Surveys of Manufactures. The 1967 Census of Manufactures covered approximately 300,000 establish- ments engaged in manufacturing, while the various Annual Surveys of Manufactures covered approximately 65,000 manufacturing establishments each. These 65,000 establishments in each survey year included all large establishments (defined to be 100 or more employees' through the 1969 Annual Survey, and 250 or more employees^ in later surveys) in manufacturing, as well as some smaller establishments. Establishments data files developed in these operations were used to identify, through an establishment matching program, manu- facturing establishments with 250 or more employees which changed ownership during the years 1968, 1969, or 1970. Acquisi- tions occurring during any one of these years were identified by matching the previous year's file of large manufacturing establish- ments to the complete Annual Survey of Manufactures establish- ment file for the year concerned. Each U.S. manufacturing establishment carries a unique census control number which remains unchanged regardless of ownership changes. This number and company identification numbers (which denote ownership and may therefore change) were used to compare ownership of large manufacturing establishments as of the end of the previous year and the end of the year in question (i.e., control numbers were matched and then company numbers were compared to identify changes in ownership). Establishments which had changed ownership during the year in question were listed as acquired large manufacturing establishments. Excluded from this acquisition definition are purchases of such intangibles as patents, goodwill, and brand names, or the acquisition of a corporate shell where there is no acquisition of the productive facilities. Also excluded are the purchase of furniture, fixtures, or machinery and equipment, separate from the building, or the purchase or lease of buildings apart from the machinery and equipment. The procedure used to identify acquisitions of large manufactur- ing establishments is to some degree biased in the direction of understating the true amount of such activity in any year. This is because it counts as acquisitions only net changes in ownership, and because establishments had to be in existence at the end of two successive years in order to be counted as acquisitions. Establish- ments owned by the same company at the end of one year as at the end of the previous year were not counted as acquired establish- ments, for example, though they might have been owned by another company in the interim. Also, establishments which were identified as having changed ownership in any given year were counted as acquisitions for that year only once, as acquisitions of the company owning them at the end of theyear, although they could possibly have changed ownership several times during that year. Finally, establishments which began or ceased operations in any given year could not be counted as acquisitions for that year, even though they may have changed ownership during that portion of the year in question during which they were in existence. It should be pointed out, however, that since each of the years 1968, 1969, and 1970 is treated separately, the effect of these biases is not as great as it would be if the entire 36 months under consideration were treated as a single period. Another case of possible downward bias, in addition to those above, concerns the number of large manufacturing establishments acquired during the specific year 1968. The identification of these acquired establishments was based upon a comparison of files developed from the 1967 Census of Manufactures and the 1968 Annual Survey of Manufactures, whereas in determining acquisi- tions for 1969 and 1970 only Annual Survey files were involved in the identification process. Because of the greater number of records involved in the 1967 Census of Manufactures than in an Annual Survey of Manufactures and the time required to process them, the possibility exists that the records of some establishments which changed ownership in 1968 were entered into the 1967 Census of Manufactures files under their 1968 company affiliations. To the extent that this occurred, the procedure used to identify acquisi- tions taking place in any year would credit these ownership changes to the year 1967 rather than to 1968, thus understating the true number of large manufacturing establishments acquired during 1968. Data Items and Tables The data presented for the years 1968, 1969, and 1970 in tables 1-4 of part 2 were collected during the Annual Surveys of Manufactures covering those years. The data in most columns of these tables come directly from the establishment data files generated during these surveys. The data in the "All establishments in industry" columns, however, are taken from Annual Survey publications^ instead and are somewhat less complete. In these publications, for example, data are not available for the individual industries bearing the 4-digit codes 1911, 1999,3711,3712,3729, 3741, and 3742, nor are establishment counts available for any 4-digit industry. Also, available nonfinancial data items are rounded to the nearest hundred, and financial data items are only available at the hundreds of thousands of dollars level. The employment data appearing in tables 1-4 represent the total number of full- and part-time employees for each operating establishment, including persons on paid sick leave, paid holidays, and paid vacations, as well as officers of corporations, but excluding proprietors and partners of unincorporated firms, members of the Armed Forces, and pensioners carried on the active rolls but not 'As of the 1963 Census of Manufactures. In the apparel and printing and publishing industries, at least 250 employees were required. ^ As of the 1 967 Census of Manufactures. The General Statistics for Industry Groups and Industries volumes of the Annual Surveys of Manufactures for the three years: M68(AS)-1 in the case of the 1968 data, M69(AS)-1 (Revised) in the case of the 1969 data, and M70(AS)-1 in the case of the 1970 data. 267 268 working. For any year the number of employees is the sum of the number of nonproduction workers who worked or received pay for any part of the pay period including March 12, plus an average of the number of production workers who worked or received pay for any part of the pay periods including the 12ths of March, May, August, and November. The payroll data appearing in table 1 represent for each operating establishment the gross earnings paid during the calendar year in question to all employees on the payroll, whether or not they were employed for the entire year. This includes all forms of compensa- tion such as salaries, wages, commissions, dismissal pay, bonuses, vacation and sick leave pay, and compensation in kind, prior to such deductions as employees' Social Security contributions, withholding taxes, group insurance, union dues, and savings bonds. Salaries of corporation officers are included, while payments to proprietors or partners of unincorporated concerns, members of the Armed Forces, and pensioners carried on active payrolls are excluded. The shipments data appearing in table 1 and 4 represent for each operating establishment received or receivable net selling values, f.o.b. plant, after discounts and allowances, and excluding freight charges and excise taxes. However, where the products of an industry are customarily delivered by the manufacturing establish- ments (e.g. bakery products, fluid milk, and soft drinks), the value of shipments is based on the delivered price of the goods rather than the f.o.b. plant price. Included are all items made by or for each establishment from materials owned by it, whether sold, transferred to other plants of the same company, or shipped on consignment. The net selling value of products made in one plant on a contract basis from materials owned by others was reported by the plant providing the materials. The value added data appearing in table 1 are derived for each operating establishment by subtracting the cost of materials, supplies, containers, fuel, purchased electricity, and contract work from the value of shipments for products manufactured plus receipts for services rendered. This result is then adjusted by the addition of value added by merchandising operations (i.e. the difference between the sales value and cost of merchandise sold without further manufacture, processing, or assembly) plus the net change in finished goods and work-in-process inventories between the beginning and end of the year in question. Acquired large manufacturing establishments are distributed vertically on the page in tables 1-4 by their 4-digit SIC industry classification codes, except in some sections of table 1, where 3-digit industry groups are used instead. Four-digit industries and 3-digit industry groups are also used, along with 2-digit major groups, as a basis for distributing acquired establishments hori- zontally across the page in table 2. In table 3, acquired establishments were horizontally classified in the "Same industry" category if the acquiring company had one or more establishments in the same 4-digit SIC industry in the prior year and in the "Other manufacturing industries" category if the acquiring company had manufacturing establishments only in other 4-digit SIC industries. Within each of these categories the criterion of one or more prior year establishments was also used in classifying the acquired establishments geographically. Coding The 4-digit SIC industries by which acquired establishments are classified in part 2 are as defined in the 1967 Standard Industrial Classification Manual published by the Office of Management and Budget, Executive Office of the President. The SIC system of classifying establishments according to the type of activity in which they are engaged facilitates the collection, tabulation, presentation, and aniysis of economic data relating to establishments. The SIC structure covers the entire field of economic activities and makes it possible to classify establishments within each industry division on a 2-digit, 3-digit, or 4-digit basis, according to the degree of detail desired. A manufacturing division establishment making cough medicines, for example, would be classified, in order of increasing detail, in 2-digit major goup 28 (Chemicals and allied products), 3-digit group 283 (Drugs), and 4-digit industry 2834 (Pharmaceutical preparations). The SIC industry code for any particular establishment is generally derived by summing the value of shipments of each 7-digit product class to its 4-digit SIC industry equivalent and assigning the 4-digit code representing the greatest portion of the establishment's shipments. 269 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents Tables 1-3, part 1, enterprise industry categories 1967 census (SIc) establishment industry equivalents Code Title Code Title MINERAL INDUSTRIES Metal mining Coal mining Crude petroleum extraction (no refining) and natural gas. Drilling oil and gas wells Other oil and gas services Nonmetallic minerals mining, n.e.c Metal mining Anthracite mining Bituminous coal and lignite mining Crude petroleum^ Natural gas ^ Natural gas liquids Drilling oil and gas wells Oil and gas field exploration services Oil and gas field services^ n.e.c. Mining and quarrying of nonmetal lie minerals, except fuels CONSTRUCTION General building contractors Highway and street construction Heavy construction, n.e.c Plumbing, heating, and air conditioning. Painting, paper hanging, and decorating. Electrical work Masonry, stonework, and plastering Carpentering and flooring Roofing and sheet metal work Concrete work Other special trade contractors Operative builders, subdividers, and developers. 1511 1611 1621 1711 1721 1731 174 175 1761 1771 1781 179 6552 656 General building contractors Highway and street construction, except elevated highways Heavy construction, except highway and street construction Plumbing, heating (except electric), and air conditioning Painting, paper hanging, and decorating Electrical work Masonry, stonework, tiling setting, and plastering Carpentering and flooring Roofing and sheet metal work Concrete work Water well drilling Miscellaneous special trade contractors Subdividers and developers, except cemeteries Operative builders MANUFACTURING 20A 2011 Meat packing plants Sausages and other prepared meat products Poultry and small game dressing and packing, wholesale 2 OB 2013 2015 200 2026 2021 20D Other dairy products Creamery butter Cheese, natural and processed 2022 2023 Condensed and evaporated milk 2024 Ice cream and frozen desserts 20E 2033 Canned fruits, vegetables, preserves, jams, and jellies 20F Other canned and frozen foods 2031 2032 Canned specialties 2034 Dried and dehydrated fruits and vegetables 2035 Pickled fruits and vegetables; vegetable sauces and seasonings; salad dressings 2036 Fresh or frozen packaged fish and sea foods 2037 Frozen fruits, fruit juices, vegetables, and specialties 20G Prepared feeds for animals and fowls 2042 2041 Prepared feeds for animals and fowls 20H Other grain mill products 2043 Cereal preparations 2044 Rice milling 2045 Blended and prepared flour ' 2046 Wet corn milling See footnotes at end of table- 270 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SIC) establishment industry equivalents Code Title Code Title MANUFACTURING— Continued Bread, cake, and related products.. Cookies and crackers Sugar Confectionery and related products. Malt liquors Other alcoholic beverages Bottled soft drinks and flavorings. Fats and oils. Other food products. Tobacco products Weaving and finishing mills. Hosiery mills . Knit outerwear mills. Other knitting mills. Floor covering mills Yarn and thread mills Other textile mill products. Men's and boys' suits and coats Men's and boys' shirts and nightwear. Separate trousers Work clothing , Other men's and boys' clothing. Blouses and dresses. Women's suits, coats, and skirts. Women's outerwear, n,e.c Women's and children's underwear. Chi Idren' s outerwear . . See footnotes at end of table. 2051 2052 206 207 2082 2083 2084 2085 2086 2087 2091 2092 2093 2094 2096 2095 2097 2098 2099 21 2211 2221 2231 226 2251 2252 2253 2254 2256 2259 227 228 2241 229 2311 2321 2327 2328 2322 2323 2329 2331 2335 2337 2339 234 236 Bread and other bakery products, except cookies and crackers Cookies and crackers Sugar Confectionery and related products Malt liquors Malt Wines, brandy, and brandy spirits Distilled, rectified, and blended liquors Bottled and canned soft drinks and carbonated waters Flavoring extracts and flavoring sirups, n.e.c. Cottonseed oil mills Soybean oil mills Vegetable oil mills, except corn, cottonseed, and soybean Animal and marine fats and oils Shortening, table oils, margarine and other edible fats and oils, n.e.c. Roasted coffee Manufactured ice Macaroni , spaghetti , vermicelli , and noodles Food preparations, n.e.c. Tobacco manufactures Broad woven fabric mills, cotton Broad woven fabric mills, man-made fiber and silk Broad woven fabric mills, wool: including dyeing and finishing Dyeing and finishing textiles, except wool fabrics and knit goods Women's full length and knee length hosiery, seamless and full-fashioned Hosiery, except women's full length and knee length hosiery Knit outerwear mills Knit underwear mills Knit fabric mills Knitting mills, n.e.c. Floor covering mills Yarn and thread mills Narrow fabrics and other smallwares mills: cotton, wool, silk, and man-made fiber Miscellaneous textile goods Men's, youths', and boys' suits, coats, and overcoats Men's, youths', and boys' shirts (except work shirts), collars, and nightwear Men's, youths', and boys' separate trousers Men's, youths', and boys' work clothing Men's, youths', and boys' underwear Men's, youths', and boys' neckwear Men' s, youths' , and boys' clothing, n.e.c. Women's, misses', and juniors' blouses, waists, and shirts Women's, misses', and juniors' dresses Women's, misses', and juniors' suits, skirts, and coats Women's, misses', and juniors' outerwear, n.e.c. Women's, misses', children's, and infants' under garments Girls' , children' s, and infants' outerwear 271 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SIC) establishment industry equivalents MANUFACTURING— Continued Miscellaneous apparel and accessories. Fabricated textile products, n.e.c... Logging camps and logging contractors. Sawmills and planing mills Millwork and related products Other wood products Wood household furniture Upholstered household furniture. Other household furniture Other furniture and fixtures. Pulp, paper, and board. Paperboard containers and boxes. Other paper products Newspapers Peri odicals Books Greeting cards and publishing, n.e.c. Commercial printing and manifold forms.. Bookbinding and printing trade services . Industrial chemicals, plastics, and synthetics. I>rugs Cleaning preparations. Toi let goods Paints and varnishes.,,. Other chemical products. Integrated petroleum extraction and refining^ Other petroleum and coal products 235 2371 238 239 2411 242 243 244 249 2511 2512 2514 2515 2519 252 2531 254 259 2611 2621 2631 2661 265 264 2711 2721 273 2741 2771 275 2761 278 279 281 282 2841 2842 2844 2851 2861 287 289 (X) 2911 295 299 Hats, caps, and millinery- Fur goods Miscellaneous apparel and accessories Miscellaneous fabricated textile products Logging camps and logging contractors Sawmills and planing mills Mi llwork, veneer, plywood, and prefabricated structural wood products Wooden containers Miscellaneous wood products Wood household furniture, except upholstered Wood household furniture, upholstered Metal household furniture Mattresses and bedsprings Household furniture, n.e.c. Office furniture Public building and related furniture Partitions, shelving, lockers, and office and store fixtures Miscellaneous furniture and fixtures Pulp mills Paper mills, except building paper mills Paperboard mills Building paper and building board mills Paperboard containers and boxes Converted paper and paperboard products, except containers and boxes Newspapers: publishing, publishing and printing Periodicals; publishing, publishing and printing Books Miscellaneous publishing Greeting card publishing Commercial printing Manifold business forms Blankbooks, loose leaf binders, and bookbinding and related work Service industries for the printing trade Industrial inorganic and organic chemicals Plastics materials and synthetic resins, synthetic rubber, synthetic and other man-made fibers, except glass Di'ugs Soap and other detergents, except specialty cleaners Specialty cleaning, polishing and sanitation preparations, except soap and detergents Surface active agents, finishing agents, sulfonated oils and assistants Perfumes, cosmetics, and other toilet preparations Paints, varnishes, lacquers ^ enamels , and allied products Gum and wood chemicals Agricultural chemicals Miscellaneous chemical products (X) Petroleum refining Paving and roofing materials Miscellaneous products of petroleum and coal See footnotes at end of table. 272 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SIC) establishment Industry equivalents Code Title Code Title MANUFACTURING— Continued Rubber products. Plastics products, n.e.c Footwear ( except rubber ) Leather and leather products, n.e.c. Glass products. Hydraulic cement Structural clay products Ready-mixed concrete Concrete, plaster and gypsum products Other nonmetallic mineral products. Blast furnaces and steel mills. Gray iron foundries Malleable iron and steel foundries. Primary metal products, n.e.c. Nonferrous refining, rolling, drawing, and forging. Nonf errous foundries Meta 1 cans Cutlery, handtools, and hardware. Plumbing and nonelectric heating. Fabricated structural steel Metal doors, sash, and trim Other structural metal products,. Screw machine products and bolts. 3011 3021 3031 3069 3079 314 3111 3121 3131 3151 3161 317 3199 3211 322 3231 3241 3273 3271 3272 3274 3275 326 3281 329 3322 3323 3313 3315 3316 3317 3391 3399 333 3341 335 3392 336 3411 342 343 3441 3442 3443 3444 3446 3449 345 34H Metal stampings. See footnotes at end of table. Tires and inner tubes Rubber footwear Reclaimed rubber Fabricated rubber products, n.e.c. Miscellaneous plsfstics products Footwear, except rubber Leather tanning and finishing Industrial leather belting and packing Boot and shoe cut stock and findings Leather gloves and mittens Luggage Handbags and other personal leather goods Leather goods, n.e.c. Flat glass Glass and glassware, pressed or blown Glass products, made of purchased glass Cement, hydraulic Structural clay products Ready -mixed concrete Concrete block and brick Concrete products, except block and brick Lime Gypsum products Pottery and related products Cut stone and stone products Abrasive, asbestos, and miscellaneous nonmetallic mineral products Blast furnaces (including coke ovens), steel works, and rolling mills Gray iron foundries Malleable iron foundries Steel foundries Electrometallurgical products Steel wire drawing and steel nails and spikes Cold rolled steel sheet, strip, gnd bars Steel pipe and tubes Iron and steel forgings I^rimary metal products, n,e,c. Primary smelting and refining of nonferrous metals Secondary smelting and refining of nonferrous metals Rolling, drawing, and extruding of nonferrous metals Nonferrous forgings Nonferrous f oundr i es Metal cans Cutlery, hand tools, and general hardware Heating apparatus (except electric) and plumbing fixtures Fabricated structural steel Metal doors, sash, frames, molding, and trim Fabricated plate work (boiler shops) Sheet metal work Architectural and ornamental metal work Miscellaneous metal work Screw machine products, and bolts, nuts, screws, rivets and washers Metal stampings 273 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SIC) establishment industry equivalents Code Title Code Title MANUFACTURING— Continued Metal services, n .e.c Fabricated wire products Other fabricated metal products Engines and turbines Farm machinery and equipment Construction machinery Minerals and materials handling machinery. Machine tools. Other metalworking machinery. Special industry machinery Pumps and compressors Other general Industry machinery. Computers and other office machines Service industry machines Other nonelectric machinery .» RadiOj TV, and communications equipment. Electronic components and accessories , Household appliances Lighting and wiring devices Other electrical machinery Motor vehicles and equipment Aircraft and complete guided missiles. Aircraft and guided missile parts. Ships and boats Other transportation equipment. Scientific instruments and mechanical measuring devices. 347 3481 349 351 3522 3531 3532 3533 3534 3535 3536 3537 3541 3542 3544 3545 3548 355 3561 3562 3564 3565 3566 3567 3569 357 358 3599 365 366 367 363 364 361 362 369 371 3721 1925 3722 3723 3729 373 374 3751 379 3811 382 Coating, engraving, allied services Miscellaneous fabricated wire products Miscellaneous fabricated metal products Engines and turbines Farm machinery and equipment Construction machinery and equipment Mining machinery and equipment, except oil field machinery and equipment Oil field machinery and equipment Elevators and moving stairways Conveyors and conveying equipment Hoists, industrial cranes, and monorail systems Industrial trucks, tractors, trailers, and stackers Machine tools, metal cutting types Machine tools, metal forming types Special dies and tools, die sets, jigs and fixtures Machine tool accessories and measuring devices Metalworking machinery, except machine tools ; and power driven hand tools Special industry machinery, except metalworking machinery Pumps, air and gas compressors, and pumping equipment Ball and roller bearings Blowers and exhaust and ventilation fans Industrial patterns Mechanical power transmission equipment, except ball and roller bearings Industrial process furnaces and ovens General industrial machinery and equipment, n.e.c. Office, computing, and accounting machines Service industry machines Miscellaneous machinery, except electrical Radio and television receiving sets, except communicat ion types Communication equipment Electronic components and accessories Household appliances Electric lighting and wiring equipment Electric transmission and distribution equipment Electrical industrial apparatus Miscellaneous electrical machinery, equipment, and supplies Motor vehicles and motor vehicle equipment Aircraft Guided missiles and space vehicles, completely ass^nbled Aircraft engines and engine parts Aircraft propellers and propeller parts Aircraft parts and auxiliary equipment, n.e.c. Ship and boat building and repairing Railroad equipanent Motorcycles, bicycles, and parts Miscellaneous transportation equipment Engineering, laboratory, and scientific and research instruments and associated equipment Instruments for measuring, controlling, and indicating physical characteristics See footnotes at end of table. 274 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SiC) establishment industry equivalents MANUFACTURING— Continued Optical and ophthalmic goods. Medical instruments and supplies. Photographic equipment Watches and clocks Jewelry and silverware Toys and sporting goods Ordnance (except guided missiles) Other manufactures. ■3831 3851 384 3861 387 391 394 1911 1929 1931 1941 1951 1961 1999 3931 395 396 399 Optical instruments and lenses Ophthalmic goods Surgical, medical, and dental instruments and supplies Photographic equipment and supplies Watches, clocks, clockwork operated devices, and parts Jewelry, silverware, and plated ware Toys, amusement, sporting and athletic goods Guns, howitzers, mortars, and related equipment Ammunition, except for small arms, n.e.c. Tanks and tank components Sighting and fire control equipment Small arms Small arms ammunition Ordnance and accessories, n.e.c. Musical instruments Pens, pencils, and other office and artists' materials Costume jewelry, costume novelties, buttons, and miscellaneous notions, except precious metal Miscellaneous manufacturing industries MISCELLANEOUS TRANSPORTATION 42A 4214 422 4721 pt. Local trucking and storage. Public warehousing Travel agencies including household goods 47A WHOLESALE TRADE Motor vehicles and automotive equipment.. Drugs, chemicals, and allied products,... Dry goods and apparel Groceries and related products Farm products--raw materials Electrical goods Hardware, plumbing and heating equipment. Machinery, equipment, and supplies Metals and minerals, n.e.c Petroleum and petroleum products Alcoholic beverages Paper and paper products Lumber and construction materials Wholesalers, n.e.c 501 502 503 504 505 506 507 508 5091 5092 5095 5096 5098 5093 5094 5097 5099 Motor vehicles and automotive equipment Drugs, chemicals, and allied products Piece goods, notions, apparel Groceries and related products Farm products-raw materials Electrical goods Hardware, and plumbing and heating equipment and supplies Machinery, equipment, and supplies Metals and minerals, n.e.c. Petroleum and petroleum products Beer, wine, and distilled alcoholic beverages Paper and its products Lumber and construction materials Scrap ar^d waste materials Tobacco and its products Furniture and home furnishings Wholesalers , n.e.c. See footnotes at end of table. 275 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SIC) establishment industry equivalents RETAIL TRADE Building materials dealers. Hardware stores Farm equipment dealers Department stores General merchandise stores,,, Lim i t ed -pr ice variety st ores . Nonstore retailers Grocery stores . . . . Bakeries Other food stores. Automotive dealers . Tire, battery, and accessory dealers Gasoline service stations Men's and boys' clothing and furnishings. Women' s ready-to-wear stores Family clothing stores Shoe stores Other apparel and accessory stores Furniture stores Household appliance stores Home furnishings and equipment, n.e.c. Eating places Drinking places Drug and proprietary stores. Liquor stores Jewelry stores Fuel and ice dealers Other retail stores 5211 5221 5231 5241 5251 5252 5311 5399 5331 5321 5341 5351 5411 546 5421 5431 5441 5451 5499 5511 5521 559 5531 5541 5611 5621 5651 5661 5631 , 5641 5671 5681 5699 5712 5722 5713 5714 5715 5719 573 5812 5813 5912 5921 5971 598 593 594 595 596 599 Lumber and other building materials dealers Plumbing, heating and air conditioning equipment dealers Paint, glass, and wallpaper stores Electrical supply stores Hardware stores Farm equipment dealers Department stores Miscellaneous general merchandise stores Variety stores Mail order houses Automatic merchandising machine operators Direct selling establishments Grocery stores Retail bakeries Meat and fish (sea food) markets Fruit stores and vegetable markets Candy, nut, and confectionery stores Dairy products stores Miscellaneous food stores Motor vehicle dealers (new and used cars) Motor vehicle dealers (used cars only) Miscellaneous aircraft, marine, and automotive dealers Tire, battery, and accessory dealers Gasoline service stations Men ' s and boys ' clothing and furnishings stores Women' s ready-to-wear stores Family clothing stores Shoe stores Women's accessory and specialty stores Children's and infants' wear stores Custom tailors Furriers and fur shops Miscellaneous apparel and accessory stores Furniture stores Household appliance stores Floor covering stores Drapery, curtain, and upholstery stores Cliina, glassware, and metalware stores Miscellaneous home furnishing stores Radio, television, and music stores Eating places Drinking places (alcoholic beverages) Drug stores and proprietary stores Liquor stores Jewelry stores Fuel and ice dealers Antique stores and secondhand stores Book and stationery stores Sporting goods stores and bicycle shops Farm and garden supply stores Retail stores, n.e.c. See footnotes at end of table. 276 APPENDIX B. Code Reference List of Enterprise Industry Categories Used in Tables 1-3, Part 1, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tables 1-3, part 1, enterprise industry categories 1967 census (SIC) establishment industry equivalents Code Title Code Title SELECTED SERVICES Hotels, motels, tourist courts, and camps. Laundries and drycleaning plants. Beauty shops Barber shops Funeral services and crematories. Other personal services , , . , Advertising Services to buildings Business consulting services. Other business services Automobile repair shops, Other automobile services and garages. Miscellaneous repair services. . . . Motion pictures (except theaters) Motion picture theaters Bowling, billiards^ and pool Other amusement and recreation services . Dental laboratories Legal services Engineering and architectural services. 7011 703 721 7231 7241 7261 7221 7251 7271 7299 731 734 7392 7321 733 7351 7361 7391 7393 7394 7395 7396 7397 7398 7399 753 751 752 754 76 781 7821 783 793 7911 792 8072 8111 8911 Hotels, tourist courts, and motels. Trailer parks and camps Laundries, laundry services^ and cleaning and dyeing plants Beauty shops Barber shops Funeral services and crematories Photographic studios, including commercial photography Shoe repair shops, shoe shine parlors, and hat cleaning shops Garment pressing, alteration, and repair Miscellaneous personal services Advertising Services to dwellings and other buildings Business, management, administrative and consulting services Consumer credit reporting agencies, mercantile reporting agencies, and adjustment and collection agencies Duplicating, addressing, blueprinting, photocopying, mailing, mai ling list, and stenographic services News syndicates Private employment agencies Commercial research and development laboratories Detective agencies and protective services Equipment rental and leasing services Photof inishing laboratories Trading stamp services Commercial testing laboratories Temporary help supply service Business services, n.e.c. Automobile repair shops Automobile rentals, without drivers Automobi le parking Automobile services, except repair Miscellaneous repair services Motion picture production and distribution Motion picture service industries Motion picture theaters Bowling alleys and billiard and pool establishments Dance halls, studios, and schools Theatrical producers (except motion pictures), bands, orchestras, and entertainers Sports promoters and commercial operators, and miscellaneous amusement and recreation services Dental laboratories Legal services Engineering and architectural services n.e.c. Not elsewhere classified. X Not applicable. pt . Partial. ^Census industries 1312, "Crude petroleum", and 1313, "Natural gas", combined are equivalent to SIC industry 1311, "Crude petroleum and natural gas". ^Companies primarily engaged in both the extraction and refining of petroleum (Census industries 1312, "Crude petroleum", and 2911, "Petroleum refining") were classified in enterprise industry category 29A, "integrated petroleum extraction and refining", for purposes of this report. Category 29A, therefore, is a classification that applies only to company data in this publication and not to the establishment data appearing in this or In the regular economic census volumes. 277 APPENDIX C. Code Reference List of Manufacturing Industry Combinations Used in Table 1, Part 2, and Their 1967 Census (SIC) Establishment Industry Equivalents Table 1, part 2, manufacturing industry combinations 1967 census (SIC) establishment industry equivalents Code Title Code Title 202- Dairy products 2021 Creamery butter 2022 Cheese, natural and processed 2023 Condensed and evaporated milk 2024 Ice cream and frozen desserts 2026 Fluid milk 203- Canned and preserved fruits, vegetables, and sea foods 2031 Canned and cured fish and sea foods 2032 Canned specialties 2033 Canned fruits, vegetables, preserves, jams, and jellies 2034 Dried and dehydrated fruits and vegetables 2035 Pickled fruits and vegetables, vegetable sauces and seasonings, and salad dressings 2036 Fresh or frozen packaged fish and sea foods 2037 Frozen fruits, fruit juices, vegetables, and specialties 208- 2082 Malt liquors 2083 Malt 2084 Wines, brandy, and brandy spirits 2085 Distilled, rectified, and blended liquors 2086 Bottled and canned soft drinks and carbonated water 2087 Flavoring extracts and flavoring sirups, n.e.c. 225- Knitting mills, except knitting mills, n.e.c 2251 Women's full length and knee length hosiery, seamless and f u 1 1 -fash i oned 2252 Hosiery, except women's full length and knee length hosiery 2253 Knit outeiTvear mills 2254 Knit underwear mills 2256 Knit fabric mills 226- Dyeing and finishing text iles , except wool fabrics and knit goods 2261 Finishers of broad woven fabrics of cotton 2262 Finishers of broad woven fabrics of manmade fiber and silk 2269 Finishers of textiles, n.e.c. 233- Women's, misses', and juniors' outerwear 2331 Women's, misses', and juniors' blouses, waists, and shirts Women's, misses', and juniors' dresses 2335 2337 Women's, misses', and juniors' suits, skirts, and coats 2339 Women's, misses', and juniors outerwear, n.e.c. 239- Miscellaneous fabricated textile products 2391 Curtains and draperies 2392 Housefurnishings, except curtains and draperies 2393 Textile bags 2394 Canvas and related products 2395 Pleating, decorative and novelty stitching, and tucking for the trade 2396 Automotive trimmings, apparel findings, and related products 2397 Schiffli machine embroideries 2399 Fabricated textile products, n.e.c. 282- Plasties materials and synthetic resins, synthetic rubber. synthetic and other manmade fibers, except glass 2821 Plastics materials, synthetic resins, and nonvulcanizable elastomers 2822 Synthetic rubber (vulcanizable elastomers) 2823 Cellulosic manmade fibers 2824 Synthetic organic fibers, except cellulosic 331- Blast furnaces, steel works, and rolling and finishing mills . 3312 Blast furnaces (including coke ovens), steel works, and rolling mills 3313 Electrometallurgical products 3315 Steel wire drawing and steel nails and spikes 3316 Cold rolled steel, sheet, strip, and bars 3317 Steel pipe and tubes 335- Rolling, drawing, and extruding of nonferrous metals 3351 Rolling, drawing, and extruding of copper Rolling, drawing, and extruding of aluminum 3352 3356 Rolling, drawing, and extruding of nonferrous metals, except copper and aluminum 3357 Drawing and Insulating of nonferrous wire 353- Construction, mining, and materials handling machinery and equipment 3531 3532 Construction machinery and equipment Mining machinery and equipment, except oil field machinery and equipment 3533 Oil field machinery and equipment 3534 Elevators and moving stairways 3535 Conveyors and conveying equipment 3536 Hoists, industrial cranes, and monorail systems 3537 Industrial trucks, tractors, trailers, and stackers 355- Special industry machinery, except metalworking machinery 3551 Food products machinery 3552 Textile machinery 3553 Woodworking machinery 3554 Paper industries machinery 3555 Printing trades machinery and equipment 3559 Special industry machinery, n.e.c. See footnote at end of table. 278 APPENDIX C. Code Reference List of Manufacturing Industry Combinations Used in Table 1, Part 2, and Their 1967 Census (SIC) Establishment Industry Equivalents— Continued Tablo 1, part 2, manufacturing industry combinations 1967 census (SIc) establishment industry equivalents Code Title Code Title 363- Household appliances 3631 Household cooking equipment Household refrigerators and home and farm freezers 3632 3633 Household laundry equipment 3634 Electric housewares and fans 3635 Household vacuum cleaners 3636 Sewing machines 3639 Household appliances, n.e.c. 364- Electric light inti and wiring eouipment •■>>.••••>•.••.>..■......• 3641 Electric lamps Lighting fixtures 3642 3643 Current -carrying wiring devices 3644 Noncurrent -carrying wiring devices 369- Miscellaneous electrical machinery, equipment, and supplies 3691 Storage batteries 3692 Primary batteries, dry and wet 3693 Radiographic X-ray, flouroscopic X-ray, therapeutic X-ray, and other X-ray apparatus and tubes; electromedical and electrotherapeutic apparatus 3694 Electrical equipment for internal combustion engines 3699 Electrical machinery, equipment, and supplies, n.e.c. 371- Motor vehicles and motor vehicle equipment, except passenger car bodies ....*....•••■.•>*>.•..•>>.••>•.•>•>•••■•••'>•••••>•••• 3711 3713 Motor vehicles Truck and bus bodies 3714 Motor vehicle parts and accessories 3715 Truck trailers 399- Miscellaneous manufacturing industries 3991 Brooms and brushes 3993 Signs and advertising displays 3994 Morticians' goods 3996 Linoleum, asphalted-f elt-base, and other hard surface floor coverings, n.e.c. 3999 Manufacturing industries, n.e.c. n.e.c. Not elsewhere classified. \ APPENDIX D Terms and Concepts Establishment: An establishment, for census purposes, is a business or industrial unit at a single physical location which produces or distributes goods, or performs services. When more than one company conducts operations at a single location, each business under separate ownership is regarded as a separate establishment. Also, if a company engages in several distinctly different kinds of economic activity at one location, each kind is treated as a separate establishment if the separate activities are economically significant in size and if separate records are available. Central Administrative Offices and Auxiliaries: A central admini- strative office (GAG) is an establishment whose employees are primarily engaged in general administrative, supervisory, purchasing, accounting, general engineering and systems planning, legal, financial, and related management functions performed centrally for other establishments of the same company. An auxiliary is an establishment whose employees are primarily engaged in performing supporting services, such as warehousing or research and develo- pment, for other establishments of the same company, rather than for the general public or for other business firms. Operating Establishment: An operating establishment is any establishment which is not a central administrative office or an auxiliary establishment. Manufacturers' Sales Branches or Sales Offices: A manufacturers' sales branch or sales office is a wholesale trade establishment which primarily distributes products manufactured by its owning com- pany. Company: A company, for census purposes, is a business organization consisting of one or more establishments under common ownership or control. If a company owns or controls other companies, all establishments of its subsidiary companies are also included as part of the owning or controlling company. Single-Unit Company: establishment. A company consisting of only one Multi-Unit Company: A company consisting of more than one establishment. Geographic Division: A geograhpic division consists of a number of contiguous States grouped together for the purpose of providing summary statistics at an intermediate level between those for the United States as a whole and those for individual States. The nine such divisions for census purposes consist of the New England States, the Middle Atlantic States, the South Atlantic States, the East South Central States, the West South Central States, the East North Central States, the West North Central States, the Mountain States, and the Pacific States. 279 \ J U.S. GOVERNMENT PRINTING OFFICE PUBLIC DOCUMENTS Washington, D.C. 20402 OFFICIAL BUSINESS FIRST CLASS MAIL PENN STATE UNIVERSITY LIBRARIES ADDDQ7Efi3a3t3 U.S. GOVERNMENT PRINTING OFFICE 375 I U^MAIL I ,o^ut;o;V \ '^^6-l9l^