Ever since the 1973 oil embargo, once plain-looking companies that produced coal and other natural resources have been eagerly pursued as merger partners. Oil companies in particular have been looking them over as a means of getting in on the development of alternative sources of energy.
Last week General Electric Co., the U.S.'s largest electrical-equipment manufacturer, joined the trend. G.E. announced that it plans to acquire Utah International Inc., a large but little-known San Francisco-based mining company (1974 sales: $500 million) that has extensive reserves of coal, uranium and other natural resources...
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