Billerica, Massachusetts-based Adage Inc has a letter of intent to merge with small conglomerate General Business Investment Corp, West Chester, Pennsylvania. Shareholders in the cash-rich but product poor maker of graphics display terminals would end up with 42.5% of the combined company with General Business holders getting the rest. General Business, which already has 19.9% of Adage’s shares outstanding, has manufacturing, property and financial services interests.
