On May 23, 1964, Noma Corporation and Ward Baking Company merged and the name of the merged corporation was changed to Ward Foods, Inc., which assumed all of the obligations of Noma. Ward paid $2,700,000 in securities for Noma and continued the business that Noma had been engaged in up to the date of the merger; i.e., the management of numerous subsidiary corporations. At the time of the merger, Noma had 7 employees, 2 of whom continued...
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