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Primerica to Buy Smith Barney

May 27, 1987|Associated Press

NEW YORK — Primerica Corp., the former American Can Co., said today it agreed to acquire the closely held investment firm Smith Barney Inc. for $750 million in cash.

Smith Barney is the New York-based parent of Smith Barney, Harris Upham & Co., a medium-size investment bank and securities brokerage that is one of Wall Street's oldest firms, having been founded in 1873.

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