Magazine content is available exclusively for TIME subscribers.CORPORATIONS: The Little Giant
As the nation's largest independent telephone company, General Telephone Corp. has been eclipsed by American Telephone & Telegraph Co. only because next to A. T. & T. any other corporation would look small. But General Telephone is a giant in its own right. Last week it planned to grow bigger. Its directors approved a deal, subject to stockholder approval on both sides, for General Telephone to take over Sylvania Electric Products Inc. on a share-for-share trade. The result: $1.5 billion in total assets, 76,000 employees.
For both companies the merger is...
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