11.   A merger of the two aerospace companies would create a company with formidable strength in commercial and military aircraft.

12.   A merger would create a company with a presence in civil aircraft, fighter jets, military cargo planes, rocket launchers and the space business.

13.   A public securities filing stated that the company effectively was created by stock contributions from two other Evans-controlled investment vehicles last year.

14.   Alexander, a financial consultant who worked with Enron to create the company, was initially the chief financial officer.

15.   Both created dominant companies from scratch, drove rivals out of business through aggressive pricing, and innovated relentlessly to maintain their franchises.

16.   But it took a few decades before the first big mainstream Bermudian insurance companies were created.

17.   But some executives and analysts are convinced that horizontal mergers alone will not create companies with heft enough to break into entrenched local telephone markets.

18.   But the merger would at least create a company with additional scale, which could help it shave costs in buying equipment.

19.   But the most likely route to riches seemed to be creating a company that would provide services to other companies exploiting the Web.

20.   By combining, the two create a company that can offer a complete package of software for everything from generating a sale to keeping customers happy, analysts said.