	magellan corp sets merger with balzac magellan corp said it has entered into a letter of intent to uire balzac investments inc in a transaction that will result in former balzac shareholders owning about pct of the combined company the company said on completion of the merger the combined company wopuld be known as power cell inc and be engaged in the development of balzac technology related to its quick charge product for charging auto batteries the transaction is subject to approval by shareholders of both companies reuter 
