Investor Harold Simmons ended his long battle for control of Lockheed Corp. Monday, selling nearly all of his 20 percent stake in the aerospace company and withdrawing a dissident slate of directors for the board.
Mr. Simmons said he threw in the towel when he realized that he didn't have the support to wage a renewed proxy battle for board seats at this year's annual meeting.Analysts estimate the sale to institutional investors left the Dallas investor with aloss of about $50 million. That doesn't include the millions of
dollars Mr. Simmons spent on an unsuccessful proxy battle last year, using his takeover...
