This holding company exchanged its stock for that of 16 subsidiary companies, each organized around a steamship.

While the company was still exchanging some polite small talk, Marshall experienced his first big disappointment.

The company exchanged nervous glances, but still no one moved.

The company will exchange 0.86 share for each Caremark share if the price is between $24.88 and $27.

The company can also exchange the D for debentures.

For weeks on end, the companies exchanged the usual takeover lawsuits, yet apparently nothing else was happening.

The companies exchanged stock as a condition of the merger, an executive involved in the transaction said.

But the tax laws say that a company can exchange one class of its own stock for another class tax-free.

It could not be determined if the talks reached the stage at which the companies exchanged confidential financial information.

The two companies exchanged shares in 1972 with the intention of merging.