Gillette acknowledges the perception in the marketplace that theincreasing hostility of the economy is forcing companies to mergeand that consolidation spells buyout by bigger companies of weakerentities. He says, however, that this is not the case in thisdeal.
"Neither side hobbled in here. Executives on both sides soughteach other out. The boards of both companies agreed we could dobusiness more expeditiously together than we each could on our own.This was choice versus need," he responds.
"This has been a tough year. It basically forces companies tosee how to ensure capital. Down markets weed out the weak and therewill probably be more carnage. Given the market it makes sense totake a business and collapse it and scale returns," he recognizes."What we've done here, however, is come together on equalterms."
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