Mergers: Choosing Partners

Merger continues to be the name of the biggest game in U.S. business.

Among last week's events on the merger-go-round:

-> Gulf & Western Industries, having further broadened its diversified operations (auto parts, mining, chemicals) by acquiring Paramount Pictures last year, moved into consumer products for the first time by reaching an agreement to buy out Consolidated Cigar, the nation's biggest cigar maker (Dutch Masters, El Producto, Muriel), in a $150 million stock swap. At the same time, Gulf & Western's young (40), acquisitive chairman, Charles Bluhdorn, sweetened his company's stock offer for E.W. Bliss Co., an Ohio-based tool-equipment manufacturer that,...

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