Finance History|11 Wall Street — LK and ML Stopped and a Combined Book Printed LMT
· 1995-3
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Finance History|11 Wall Street — LK and ML Stopped and a Combined Book Printed LMT
kevin
People treat Lockheed Martin as a Bethesda defense house that always printed LMT after a finished New York book.
The 1995 issuer was Lockheed Martin Corporation, a Maryland holding company formed to combine Lockheed Corporation and Martin Marietta Corporation.
Shareholders of both firms approved the combination at meetings on 15 March 1995, and the mergers became effective that day.
Each Lockheed common share converted into 1.63 Lockheed Martin common shares.
Each Martin Marietta common share converted into one Lockheed Martin common share.
Cash was paid in lieu of fractional shares.
Period reports dated 16 March 1995 said Lockheed Martin common stock began trading on the New York Stock Exchange that day under LMT.
The predecessor letters on this tape had been LK and ML.
The letters LMT still open on the New York Stock Exchange.
The mechanism is a merger of equals that retired two defense tickers and opened one holding-company book on the same exchange.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the present street marker for the tape that prints LMT.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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