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The only comfort is that they will be spared the job of integrating their operations in a downturn or recession.
"The two companies may seek ways to effectively expand the scope of their partnership, including the possibility of integrating their operations," Fujitsu and Toshiba said in a statement.
But as the two companies began integrating their operations, "Progress viewed this as a takeover of Duke based on behavior, based on actions, based on treatment of people," he said.
That is a reminder that, if AOL and Time Warner stumble in integrating their operations, potent rivals are ready to pounce on their customers.But there is, at last, one bit of news that suggests the deal may happen after all.
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They predicted that the companies would face huge problems as they tried to integrate their operations.
The two banks will form the holding company and integrate their operations by April of next year, officials said.
Daimler acquired Chrysler to augment its own line of Mercedes-Benz luxury cars, not to integrate their operations and products.
Analysts said there were many ways his strategy could backfire, not least if Renault and Nissan failed to integrate their operations more fully.
Mr. Hinton, 63, a former reporter who has worked under Mr. Murdoch since the 1960s, has cut costs at News Corporation's British papers and more tightly integrated their operations — experience that could help fold Dow Jones into its new parent.
One reason that merger succeeded was that Delta and Northwest negotiated a seniority plan and a new collective bargaining agreement with the pilots, enabling the two companies to integrate their operations faster and more smoothly.
In his talks with analysts and investors, Mr. Capellas said, most people had agreed that the strategy behind the merger made sense, but many had expressed doubt that the companies could smoothly integrate their operations and work forces without losing ground in the marketplace.
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