# assuming this is *nix, or something with a sort utility, otherwise this can be
# done directly in perl
system("sort holds > tmpholds") and die;
system("sort copies > tmpcopies") and die;

open(HOLDS,"<tmpholds") or die;
my (@holds, $holdseof);
sub readhold { ($_=<HOLDS>) || $holdseof++; chomp; @holds = split(/\|/,$_,-1); }
readhold;

open(COPIES,"<tmpcopies") or die;
my (@copies, $copieseof);
sub readcopy { ($_=<COPIES>) || $copieseof++; chomp; @copies = split(/\|/,$_,-1); }
readcopy;

while(!($holdseof && $copieseof)) {
    if ($holdseof || (!$copieseof && $holds[0] gt $copies[0])) {
        print "copy ($copies[0])\n";
        readcopy;
    }
    elsif ($copieseof || $copies[0] gt $holds[0]) {
        print "hold ($holds[0])\n";
        readhold;
    }
    else {
        print "hold and copy ($holds[0])\n";
        readhold;
        readcopy;
    }
}
close HOLDS;
close COPIES;

__END__

holds
------
iiiii
asdf
fdd
dsafe
dsaf
bfer
rewtewt
bfret
zzzzzzzzz

copies
------
weewr
dddddd
rewtewt
bfret
fdfdsfsdfdsa
dsafe
dsaf
asdf
fdd
bfer

output
------
hold and copy (asdf)
hold and copy (bfer)
hold and copy (bfret)
copy (dddddd)
hold and copy (dsaf)
hold and copy (dsafe)
hold and copy (fdd)
copy (fdfdsfsdfdsa)
hold (iiiii)
hold and copy (rewtewt)
copy (weewr)
hold (zzzzzzzzz)