Analysts praised the latest combination, saying that other industry mergers would follow.
But that verdict remains to be seen, especially since the regulators may choose to weigh the impact of more than one possible industry merger at once.
It came at a time when German banks were bracing for tough competition and for more expected industry mergers.
Gerrard's 1994 strategic statement on the information highway also addressed the subject of industry mergers in the communications sector.
In 1991 there were $300 million worth of military industry mergers, according to Goldman, Sachs & Company.
Military industry mergers may be history in the United States, but in Europe they are very much alive.
Despite some claimed successes in individual factories, it is difficult to separate any cost savings from those achieved simply because of big industry mergers and layoffs.
As with previous industry mergers, Conoco and Phillips plan to focus on greater exploration and production.
Mr. Smith had been co-head of financial industry mergers and acquisitions at Citigroup.
In the 70's, A.&P. could only expand by opening new stores because the Federal Government would not allow industry mergers.