McDonnell Company and Douglas Aircraft Company officially merge, forming McDonnell Douglas Corp. However, the union is more of a takeover, as McDonnell buys 1.5 million shares of Douglas stock for $68 million to complete the transaction, which had been approved by the Douglas board of directors on Jan. 13.
The Senate confirmed new leaders of U.S. forces in Europe and the Middle East over the weekend. Lawmakers on June 29 also approved a reshuffling of Air Force officials that will put new faces in the service’s Pentagon headquarters as well as at its largest command.