Pan American World Airways President Juan Terry Trippe moved a step closer this week to a goal he has long espoused: a single U.S. airline on the North Atlantic. For $17.4 million, Pan Am took over the assets of American Overseas Airlines. It was the biggest merger in U.S. airline history, and left T.W.A. as Pan Am's only domestic competitor.
Preparations for the event were in keeping with its size. Thirty days ago, a 25-man team of Pan Am lawyers and accountants left for Europe to begin the job of totting up A.O.A.'s assets, preparing receipts in 14 languages for...
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