North American, Allied Van in Merging Lane

North American Van Lines Inc. and Allied Van Lines are combining in a $450-million deal, which would create one of the world’s largest household movers. The resulting company, to be based in Fort Wayne, Ind., would have locations in 36 countries and 1,100 agents in North America, with annual revenue of $2 billion. Regulators must approve the merger, which is expected to be completed this year. Clayton, Dubilier & Rice Inc., the New York-based investment firm that owns a majority stake in North American, said it will pay Allied’s London-based parent, NFC, $400 million in cash and $25 million in preferred and common stock that represents a 20% stake in the combined business, NA Holding Corp. Allied’s moving-services business--Allied in the U.S. and Canada; Pickfords in Britain; and Allied Pickfords in Europe, Australia and Asia--would maintain those brand names. James W. Rogers of CD&R; will serve as chairman of the combined company, and R. Barry Uber, North American’s president and chief executive, will be CEO. North American employs about 3,200 and Allied employs 4,000 worldwide. NFC’s American depositary receipts closed unchanged at $18 on the NYSE.