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Simmons Changes Plan for Sea-Land
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Harold C. Simmons, the Dallas investor, says he will not try to gain control of the Sea-Land Corporation by stock ownership, but will attempt a takeover through the election of new board members.
In a letter dated Monday responding to questions from the Transportation Department, Mr. Simmons said that it was his ''intention to postpone further stock purchases'' and that he would push for three new directors on the board of the East Coast shipping operation. Mr. Simmons said he owned 39.5 percent of Sea-Land's common stock through his Amalgamated Sugar Company and its affiliates. He was out of town today and could not be reached for comment.
A version of this article appears in print on , Section D, Page 4 of the National edition with the headline: Simmons Changes Plan for Sea-Land. Order Reprints | Today’s Paper | Subscribe
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