Allied, Signal in Giant Merger

Shareholders of Allied Corp. today approved a merger with California-based The Signal Cos. Inc., creating a $13.5-billion chemical and technology giant.

The new Allied Signal Corp. will focus on the aerospace, automotive and chemical industries, marshaling 168,000 employees and liquid capital of $1.4 billion. Allied Chairman Edward L. Hennessy Jr., who will chair the new corporation, called the Signal acquisition “probably one of the largest non-oil company mergers in United States history.”