MERGERS: The Wayward Cow-Bus

Mythology is full of strange animals like the hippogriff, a beast that is half horse and half griffin.* Last week came word of a proposed merger which would create a real-life business hybrid—part cow and part bus. The companies concerned, whose directors have already approved a stock swap, are ACF-Brill Motors Co., maker of buses and trackless trolleys, and Foremost Dairies, Inc., seller of milk, ice cream and other dairy products in the South and (through foreign subsidiaries) the Far East. For ACF-Brill, which just turned the profit corner last year, after three years of losses (TIME, April 7),...

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