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Most successful of these is five-year-old Chesham Amalgamations & Investments Ltd. Finding a proper fit for its 400 clients is arduous work, normally involving research into 4,000 prospects annually and resulting in a meager three mergers a month. Explains Chesham Director Nicholas Stacey: "Our job is to explore the field in which our client is interested and find the most suitable company for his needs. Then we negotiate and put a valuation on it for him. Finally, we stamp on our 'Good Housekeeping seal...
Beyond the Balance Sheet. Only recently has the need for Chesham-type professionalism been recognized in Britain. Unlike their American counterparts, few big businesses in England can afford to employ full-time experts on mergers and acquisitions. Often the merger is a part-time endeavor of a few executives who lack the necessary expertise beyond the balance sheet to understand the long-range implications of the match. For this reason, Stacey estimates that between 1948 and 1960 about one-half of Britain's mergers turned sour. "Happily," says Stacey, "golf-club gossip and chance encounters between principals of businesses...
...year 1966-67, Stacey reckons that his company has successfully concluded $50 million worth of corporate mergers. Clients give Chesham 4% for the first $1,000,000 paid for the acquired company, with a minimum of 1 % for all amounts in excess of $3,000,000. The outlook for the merger brokers is bright, for as Strathclyde University Professor K. J. Alexander puts it: "The curse of bigness has now been replaced by the cult of bigness." Consolidating the big, unwieldy corporations is only a start. England is still a country of almost cottage-size businesses whose copycat ways...
Died. Sir Bruce Ingram, 85, working editor since 1900 of Britain's Illustrated London News; of a heart attack; in Chesham, Buckinghamshire. Given a trial as editor of the well-bred journal his grandfather began in 1842, Ingram established himself at the age of 23 with an unparalleled scoop of Queen Victoria's funeral; he stationed 24 artists along the route to Windsor Castle, matched their drawings into 24 double-truck spreads and hit the newsstands within three days. Said Ingram, when photography replaced the sketches, and sepia-tinted rotogravure became the News's trademark: "A pity...
Died. Aneurin Bevan, 62, the impassioned, irrepressible maverick and front-bench spellbinder of the British Labor Party; of cancer; in Chesham, England...