Magnetic Mania; In this merged, merged world, anything goes

Article Abstract:

The billion total value of mergers and acquisitions is already approaching record 1997 total. The drive toward mergers is fueled by a growing global consensus among corporations that bigger is better. The value of US mergers and acquisitions through June 25 rose to $910 billion or 153% from the same point in 1987. There was a doubling of deals globally, numbering 10,401, to $1.3 trillion, compared to a $1.6 trillion total for 1987. Asian acquisitions by US companies are moving fast while European activity is setting new records. The strong American economy, with its low inflation and interest rates, is behind the merger drive in which companies are swapping stocks to gain tax breaks in the mergers. US mergers have been led by the financial services sector, such as the mergers of NationsBank and BankAmerica or First Chicago and Banc One for a combined total of $90 billion.

Comment:

Mergers set records in 1998 in the US and worldwide

Forecasts, trends, outlooks, Industry Market Data, Corporations, Article

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Leo Group plans to acquire MacManus

Article Abstract:

The merged Leo Group and MacManus Group advertising agency will be the fourth largest in the world, after Omnicom Group, Interpublic Group, and WPP Group. Together the 2 agencies will be temporarily known as BDM, and led by Rober Haupt, CEO of Leo Group. Revenues for the new company are $1.7 bil on billings of $13 bil. The chairman of MacManus, Roy Bostock, will serve as chairman of BDM. The company plans to go public in 2000.

Advertising agencies, Agency Formation/Mergers, Statistical Data Included, Appointments, resignations and dismissals, Names, Bostock, Roy, Haupt, Roger, Leo Group, MacManus Group, BDM (New York, New York)

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Lucent to buy Kenan for $1.45 billion, but is quiet on possible acquisition of Ascend

Article Abstract:

Kenan Sahin will sell his billing software firm, Kenan Systems Corp., based in Cambridge, Mass., to Lucent Technologies in a stock deal worth $1.45 billion and will then become a vice president running the unit. The specialized software allows phone companies to have flexible billing systems. No comment could be elicited on a possible Ascend deal.

Comment:

Company to acquire Kenan Systems Corp.

Prepackaged software, Software Publishers, Financial, Acctg Software Pkgs (Micro), Computer software industry, Software industry, Telecommunications services industry, Telecommunications industry, Financial software, Lucent Technologies Inc., Abstract, LU, Kenan Systems Corp.

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