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On May 18, 1985, Chief sold 1,100,00 shares of its Automotive common stock, reducing its ownership interest to 1,400,000 shares or 38.3% of the outstanding common stock. According to a chart provided by Chief, a three-for-two stock split occurred on March 7, 1986, increasing Chief’s total number of shares to 2,100,000 while keeping its ... ................
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