Possibility of Merging two Projects

Hi,
I have come across a situation where the users have entered two projects in system for one. They entered planning data for one of them only and both projects are in execution already. There are actual costs posted.
For some time, it remained un-noticed and now I am looking for a way to clear up this mess.
Is there any way that I can "merge" these projects or get the things "in line" after this?

All solutions seemed to be working fine, its just that I faced a problem with different fiscal years. The client has already closed 2009 financially and revenues have been locked. One of the two projects was initiated in 2009, any changes in material costs would also require MM periods to be open for past postings.
The business realizes the financial impacts this activity may have and decided to leave the projects in their state, considering them as two seperate projects.
Thank you all for your responses.

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