Conrad Black was invovled before the name change to Varity.He was the CEO of Argus Corp which was the majority shareholder of Massey in the late seventies.He completely screwed them over,to make a long story short,he took the money and ran which put Massey on the brink. A man by the name of Victor Rice then took over and had a big mess to clean up.He basicly split the company in two,he put all the product that was built outside of Canada in one division and all the product that was buit in Canada in another.One was called Massey Ferguson Inc and the other was called Massey Combines Corpartion.The main product from MCC was the 800 series combine and the 4000 series tractor.I forget the exact numbers but MF INC had 20 times more income than MCC had but the debt was slit evenly among the two of them,MCC was destined to fail and they did.later Victor Rice changed the name from Massey Ferguson to Varity Corp and split the company in divisions again which consisted of Massey Ferguson,Perkins,Kelsey-Hayes and Massey Ferguson CE.He sold Perkins to CAT and sold the North American rights of Massey to Agco.The following year he saved Agco by selling them all of Massey Ferguson which put Agco on the world map.He later merged Varity with a company called lucas and it was called lucas-Varity.This is a condensed version,can't type fast enough,lol