Numbers of corporations interested in aquiring Polyhrome 2 By Mr. Bob Gumbinner
In
1973, Ben Berkey, the owner of Berkey Photo, who had a plant in
northern Queens, met Mr. Halpern and discussed merging Polychrome and
Berkey. Mr. Halpern suggested that he start by buying Polychrome
stock. When Mr. Berkey did so and acquired about 250,000 shares of
Polychrome stock, Mr. Halpern became concerned that he might be able
to get a majority of Polychrome stock. At that time Mr. Halpern
owned about 20% of the Polychrome stock. Mr. Halpern urged the
employees to buy Polychrome stock. Although a number of us pledged
that we would, it was not enough to guarantee control. Then Mr.
Halpern approached Englehard Hanovia and made an arrangement for
Englehard to buy the Polychrome stock from Berkey.