Master Builders

Two conglomerates merge

When executives discuss a corporate merger, they become as circumspect as Swiss bankers. So it went with the merger between Allied and Signal, announced last week. Edward Hennessy Jr., Allied's chairman, along with Forrest Shumway and Michael Dingman, Signal's chairman and president, met March 5 at Marriott's Camelback Inn, a plush Scottsdale, Ariz., resort with two 18-hole golf courses, two swimming pools and ten tennis courts. Hennessy and Dingman registered under the last name of Dingman's secretary. Although the executives are fond of sports, they seldom left their rooms. When discussing the firms, they called Allied "East" and Signal "West."

Such...

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