Business Notes TOYS

Does General Motors tell Ford? Do Coke and Pepsi swap recipes? Maybe not, but two rivals in the toy industry are marrying their successful products in a surprising team-up. The unlikely allies: Hasbro, whose G.I. Joe toys have been best sellers for years, and Worlds of Wonder, creators of Teddy Ruxpin, the talking bear, and Lazer Tag, which was the rage last Christmas among youngsters and even denizens of college dorms.

This summer the companies will offer -- zap! -- the G.I. Joe-Lazer Battle. Like the original Lazer Tag, the $29.95 Lazer Battle includes a plastic gun that shoots out an infrared light beam and a target worn on the body that makes a beep when hit by a shot from an opponent's weapon. Both parts will have the red-white-and-blue G.I. Joe logo. Worlds of Wonder, which will produce the set, wants its Lazer toys to start reaching the eight-and-under audience, where G.I. Joe's name holds sway. Hasbro, meanwhile, gets a 4% to 6% cut of the wholesale price.