Oliver wasnt bankrupt and it didnt go on the auction block. White acquired Oliver through a corporate takeover when it gained majority control of 51% of the company on November 1 1960. White then bought Cockshutt in 1962 and Moline in 1963. White did away with Cockshutt replacing them with Oliver tractors as everybody knows. However Oliver and Moline continued to operate as fairly separate entities until 1969 when White began merging the 2 tractor lines. Both companies continued seperate R&D and maintained separate Dealer networks so yes even though White was pocketing the money, No Oliver did not cease to exist after the 1960 takeover.
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Today's Featured Article - The David Brown Rose Badge - by Samuel Kennedy. In the 13th century civil war was raging in England. Two English noblemen were involved in a conflict which became known as the War of the Roses. The Duke of York had as his emblem a white rose and the Earl of Lancaster had a red rose. Today the white rose is the official emblem of the county of Yorkshire and the red rose has been adopted by the neighboring county of Lancashire.
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