Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Hitco Deal - Lehman Brothers Collection


Company Deal500,000 shares common stock
Transaction TypeCommon Stock
Deal DescriptionHitco used a portion of the net proceeds from this transaction to retire a loan, the proceeds of which were used for the purchase of approximately 97% of the outstanding capital stock of Bathey Manufacturing Company in November 1968. The balance of the proceeds was added to the general funds of the company and was used for general corporate purposes, including the retirement of bank debt incurred for working capital. The company received no portion of the proceeds from the shares offered by the group of selling stockholders, which consisted of Istel Fund, Inc., Lepercq de Neuflize & Co., Incorporated, Paul A. Lepercq, and Bruck & Bigel.
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