POCKET BOOKS HOLDERS CLEAR SIMON & SCHUSTER MERGER
Document Type:
CREST [1]
Collection:
Document Number (FOIA) /ESDN (CREST):
CIA-RDP88-01314R000300090009-5
Release Decision:
RIPPUB
Original Classification:
K
Document Page Count:
1
Document Creation Date:
December 16, 2016
Document Release Date:
November 9, 2004
Sequence Number:
9
Case Number:
Publication Date:
March 31, 1966
Content Type:
NSPR
File:
| Attachment | Size |
|---|---|
 CIA-RDP88-01314R000300090009-5.pdf [3] | 22.05 KB |
Body:
WALL STIZE1I
Approved For Release 2005/01/H WWDP88-01314R0
MAR 31 1966
Pocket Books Holders Clear
Simon & Schuster Merger
NEW YORK - Stockholders of Pocket
Books, Inc., approved a previously proposed
merger with Simon & Schuster, Inc.
Subject to favorable tax rulings, the merger
of the two book publishers is expected to take
place June 30.
Leon Shimkin, president of Pocket Books,
and his family own 55%,. of , the company's
3,000,145 outstanding common shares. Mr.
Shimkin also owns 50%, of Simon & Schuster.
The plan is, for Simon -& Schuster to acquire
the remaining 50%; interest from M. Lincoln
i Schuster for $2 million in cash. This would
give Mr. Shimkin 100% ownership, which he
then would sell to Pocket Books for 320,000
Pocket Books shares.
Although Pocket Books would be the sur-
viving corporation, it would .change its name
to Simon & Schuster.
S7TT
Approved For Release 2005/01/11 : CIA-RDP88-01314R000300090009-5