Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

A. S. Beck Shoe Corp. Deal - Lehman Brothers Collection

A. S. Beck Shoe Corp.

Company DealA. S. Beck Shoe Corporation: 39,046 shares 4 3/4% cumulative preferred stock; 20,129 shares common stock
Transaction Typecommon stock purchase, preferred stock purchase, company merger
Deal DescriptionA. S. Beck Shoe Corporation was incorporated as a wholly owned subsidiary of Diamond Shoe Corporation. The Boards of Directors of the two corporations agreed to merge Diamond Shoe Corporation into A. S. Beck Corporation, which will continue as the surviving corporation. Holders of the outstanding 417,750 shares of common stock of Diamond Shoe were to receive in exchange an aggregate of 50,130 shares of 4 3/4 cumulative preferred stock and 417,750 shares of common stock of A. S. Beck. The authorized and outstanding 10,000 shares of capital stock of A. S. Beck and the authorized and unissued stock and treasury stock of Diamond Shoe were to be cancelled so that the above shares to be outstanding upon consummation of the merger would constitute the entire authorized capital stock of A. S. Beck. All of the proceeds from the sale of the stock offered will be retained by the selling stockholders and none of the proceeds were to be received by A. S. Beck.
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