Largest Mergers and Acquisitions by Corporations, 2006
Order Code RL33906
Largest Mergers and Acquisitions by
Corporations, 2006
March 8, 2007
John Williamson
Information Research Specialist
Knowledge Services Group
Largest Mergers and Acquisitions by
Corporations, 2006
Summary
Mergers and acquisitions (M&A) activity has continued to increase, especially
in each of the past three years. This report provides a listing of the largest M&A
transactions worldwide (value equivalent to $2 billion or more) that were proposed
during 2006. The report includes the dates on which transactions were completed
and shows M&A deals that were still pending as of December 31, 2006, or that were
not successful. These data have been drawn from publicly available sources and have
not been otherwise verified by the Congressional Research Service. This report will
not be updated.
Contents
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Largest Mergers and Acquisitions, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
CRS Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Largest Mergers and Acquisitions by
Corporations, 2006
Introduction
Mergers and acquisitions (M&A) activity has continued to increase, especially
in each of the past three years. The following table provides a listing of the largest
M&A transactions worldwide (value equivalent to $2 billion or more) that were
proposed during 2006. The table includes the dates on which transactions were
completed and shows M&A deals that were still pending as of December 31, 2006,
or that were not successful. These data have been drawn from publicly available
sources and have not been otherwise verified by the Congressional Research Service.
Largest Mergers and Acquisitions, 2006
(ranked by value; U.S. dollars in billions)
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Kohlberg Kravis Roberts & Co. Vivendi SA
11/2/06
Pending
50.8b
Investors
Conglomerate
Suez SA
Gaz de France
2/27/06
Pending
37.98a
Utilities
Utility
Banca Intesa SpA
Sanpaolo IMI SpA
8/26/06
1/2/07
37.54a
Banking and finance
Banking and finance
Blackstone Group
Equity Office Properties Trust
11/20/06
Pending
36.0a
Investors
Real estate investment trust
HCA management
HCA Inc.
7/24/06
12/18/06
33.0a
Frist family
Hospital management
Bain Capital Partners LLC
Kohlberg Kravis Roberts & Co.
Merrill Lynch & Co.
Investors
Aviva Plc
Prudential Plc
3/16/06 Abandoned
29.3c
Insurance
Insurance
3/24/06d
Statoil ASA
Norsk Hydro ASA, energy div.
12/18/06
Pending
28.0c
Oil company
Energy company
Apollo Management
Harrah’s Entertainment Inc.
12/19/06
Pending
27.8a
Texas Pacific Group
Gaming
Investors
Thomas H. Lee Partners
Clear Channel Communications
11/16/06
Pending
26.7a
Bain Capital Partners LLC
Broadcasting and outdoor
Investors
advertising
Wachovia Corp.
Golden West Financial
5/8/06
10/1/06
26.0a
Banking and finance
Banking and finance
CRS-2
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Express Scripts Inc.
Caremark Rx Inc.
12/18/06
Pending
26.0c
Drug benefits manager
Drug benefits manager
Freeport-McMoRan Copper &
Phelps Dodge Corp.
11/20/06
Pending
25.9a
Gold Inc.
Mining
Mining
Mittal Steel Co. BV
Arcelor SA
1/27/06
9/18/06
22.7c
Steel
Steel
Iberdrola SA
Scottish Power Plc
11/27/06
Pending
22.5c
Electricity
Electricity
Richard Kinder
Kinder Morgan Inc.
8/28/06
2007
22.0a
Goldman Sachs Group Inc.
Pipeline operator
(projected)
American International Group
Inc.
Carlyle Group
Riverstone Holdings LLC
Investors
Bayer AG
Schering AG
6/14/06
9/13/06
21.5c
Conglomerate
Pharmaceuticals
Xstrata Plc
Falconbridge Ltd.
5/14/06
8/21/06
21.2c
Mining
Mining
CVS Corp.
Caremark Rx
11/1/06
Pending
21.02a
Drugstore chain operator
Pharmacy-benefits manager
Grupo Ferrovial SA
BAA Plc
6/8/06
8/15/06
18.7c
Construction
Airports operator
Anadarko Petroleum
Kerr-McGee Corp.
6/23/06
8/11/06
18.0a
Energy
Energy
Teck Cominco Ltd.
Inco Ltd.
5/8/06
Withdrawn
17.76a
Mining
Mining
8/15/06
Inco Ltd.
Falconbridge Ltd.
5/11/06
Withdrawn
17.7c
Mining
Mining
9/5/06
Companhia Vale do Rio Doce
Inco Ltd.
8/11/06
10/25/06
17.7c
SA
Mining
Mining
Phelps Dodge Inc.
Inco Ltd.
8/10/06
Withdrawn
17.7c
Mining and smelting
Mining
9/5/06
Blackstone Group
Freescale Semiconductor Inc.
9/15/06
12/1/06
17.6a
Carlyle Group
Semiconductor manufacturer
Permira Funds
Texas-Pacific Group
Investors
Albertis Infrastructuras SA
Autostrade SpA
4/23/06 Blocked by
17.0b
Highway builder and operator Highway builder and operator
Italian
Govt.
8/4/06
Johnson & Johnson Inc.
Pfizer Inc. Consumer Products Div.
6/26/06
12/21/06
16.6a
Pharmaceuticals
Pharmaceuticals
Bank of New York
Mellon Bank
12/04/06
Pending
16.5a
Banking and finance
Banking and finance
Softbank KK
Vodafone Japan KK
3/17/06
5/1/06
15.3a
Telecommunications
Telecommunications
CRS-3
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
GlaxoSmithKline Plc.
Pfizer Inc. Consumer products div.
6/7/06
Outbid
15.0a
Pharmaceuticals
Pharmaceuticals
Japan Tobacco Inc.
Gallaher Group Plc
12/14/06
Pending
14.7a
Tobacco products
Tobacco products
Penn National Gaming Inc.
Harrah’s Entertainment Inc.
12/14/06
Outbid
14.7a
Gaming
Gaming
12/19/06
Blackstone Group LP
Hutchison Essar Ltd.
12/15/06
Pending
14.0c
Reliance Communications Ltd
Mobile phone operator
Investors
Merck KGaA
Serono S.A.
9/20/06
1/2007
13.3a
Pharmaceuticals
Pharmaceuticals
(projected)
Cemex SA
Rinker Group Ltd.
10/27/06
Pending
12.8c
Cement maker
Building materials
Haim Saban
Univision Communications Inc.
6/26/06
Pending
12.3c
Investor
Broadcasting
Texas Pacific Group
Providence Equity Partners
Thomas H. Lee Partners
Madison Dearborn Partners
Investors
Citigroup Inc.
GMAC
1/27/06
11/30/06
11.6a
Cerberus Capital Management
Banking and finance
Aozora Bank Ltd.
PNC Financial Services Group
Banking and finance
Liberty Media Corp.
DirecTV Group
12/22/06
Pending
11.0a
Telecommunications
Broadcasting
Dane A. Miller
Biomet Inc.
12/18/06
Pending
10.9a
(Former CEO of Biomet)
Orthopedic device manufacturer
Blackstone Group
Goldman Sachs Capital Partners
Kohlberg Kravis Roberts & Co.
Texas Pacific Group
Investors
Kohlberg Kravis Roberts & Co. Koninklijke Philips Electronics NV
8/2/06
9/1/06
10.25a
Silver Lake Partners LLC
Semiconductor Division
Bain Capital
Semiconductor manufacturer
Apax
AlpInvest Partners NV
Investors
Thermo Electron
Fisher Scientific Inc.
5/8/06
11/9/06
10.6a
Scientific instruments
Scientific instruments
Thermo Fisher Scientific Inc.
Banco Popolare di Verona e
Banca Popolare Italiana Scrl
10/16/06
Pending
10.3c
Novara Scrl
Banking and finance
Banking and finance
Regions Financial Corp.
AmSouth Bancorp.
5/25/06
11/4/06
10.0a
Banking and finance
Banking and finance
Companhia Siderúrgica
Corus Plc
11/17/06
Pending
10.0b
Nacional
Steelmaker
Steelmaker
NYSE Group, Inc.
Euronext NV
5/22/06
Pending
9.96a
Stock exchange
Stock exchange
CRS-4
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
AXA SA
Winterthur (div. Credit Suisse)
6/12/06
12/22/06
9.93a
Insurance
Insurance
Cerberus Capital
Albertson’s
1/23/06
6/2/06
9.8a
Investors
Groceries
Kimco Realty Corp.
Real estate
Supervalu Inc.
Groceries wholesaling and
retailing
Crédit Agricole SA
Alliance & Leicester Plc.
5/22/06
Withdrawn
9.6b
Banking and finance
Banking and finance
8/9/06
NTL Plc
ITV Plc
11/11/06
Pending
9.5b
Broadcasting
Broadcasting
Smith & Nephew Plc
Biomet Inc.
11/2/06
Outbid
9.1c
Orthopedic products
Orthopedic products
12/18/06
Brookfield Properties Corp.
Trizec Properties Inc.
6/5/06
10/5/06
8.9c
Blackstone Group
Real estate
Investors
Macquarie Bank Ltd.
Thames Water
10/17/06
Pending
8.9c
Macquarie European
Utility
Infrastructure Fund
Macquarie European
Infrastructure Fund II
Investors
Kohlberg Kravis Roberts & Co. GMAC Commercial Holding Corp.
3/23/06
4/3/06
8.8c
Five Mile Capital LLC
Commercial mortgage unit of
Goldman Sachs Group Inc.
GMAC
Investors
Capmark Financial Group Inc.
Macquarie Bank Ltd.
Quantas Airways Ltd.
11/22/06
Pending
8.7c
Texas Pacific Group
Airline
Investors
Goldcorp Inc.
Glamis Gold Ltd.
8/31/06
11/7/06
8.6c
Mining and minerals
Mining and minerals
Joseph Neubauer
Aramark Corp.
8/8/06
Pending
8.3a
(Aramark CEO)
Food service
GS Capital Partners
CCMP Capital Advisers
J.P. Morgan Partners
Thomas H. Lee Partners
Warburg PincusLLC
Tata Steel Ltd.
Corus Plc
10/17/06
Pending
8.23a
Steelmaker
Steelmaker
Merrill, Lynch & Co.
BlackRock Inc.
2/13/06
6/30/06
8.0a
Brokerage
Money management
Chicago Mercantile Exchange
Chicago Board of Trade Inc.
10/17/06
Pending
8.0c
Inc.
Futures trading exchange
Commodities trading
exchange
US Airways Inc.
Delta Air Lines
11/15/06
Pending
8.0b
Airline
Airline
CRS-5
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Kohlberg Kravis Roberts & Co. ProSiebenSat1 Media AG
12/13/06
Pending
8.0a
Permira Advisers LLP
Broadcaster
Investors
Silvio Berlusconi
ProSiebenSat1 Media AG
11/2/06
Outbid
7.5a
Investor
Broadcaster
12/13/06
Walt Disney Co.
Pixar Inc.
1/24/06
5/5/06
7.4a
Conglomerate
Entertainment producer
Royal Dutch Shell, Plc
Shell Canada Ltd. (22% not owned)
10/23/06
Pending
6.8c
Petroleum/energy
Petroleum/energy
Resolution Plc
Abbey National, Life Insurance
6/7/06
9/1/06
6.7c
Insurance
Div.
Insurance
Temasek Holdings Pte.
Peninsular & Oriental Steam
1/10/06
Outbid
6.17c
Singapore government
Navigation Company
Ports operator
Banche Popolari Unite Scarl
Banca Lombarda SpA
11/14/06
Pending
6.15b
Banking and finance
Banking and finance
Schneider Electric SA
American Power Conversion Corp.
10/30/06
Pending
6.1c
Electrical equipment
Emergency power systems
SL Green Realty Corp.
Reckson Associates Realty Corp.
8/3/06
Pending
6.0a
Real estate
Real estate
Apollo Management LP
Realogy Corp.
12/18/06
Pending
6.0c
Investors
Real estate broker
Suncorp-Metway Ltd.
Promina Group Ltd.
10/12/06
Pending
5.7c
Insurance
Insurance
Nycomed Holding A/S
Altana AG Pharmaceutical Div.
9/21/06
12/29/06
5.7c
Danish investment vehicle
Pharmaceuticals
Carlyle Group
Advanced Semiconductor
11/24/06
Pending
5.7c
Investors
Engineering Inc.
Semiconductor packager
UCB SA
Schwarz Pharma AG
9/25/06
Pending
5.6c
Pharmaceuticals
Pharmaceuticals
MTN Group Ltd.
Investcom LLC
5/2/06
7/31/06
5.5c
Telecommunications
Telecommunications
Advanced Micro Devices Inc.
ATI Technologies Inc.
7/22/06
11/30/06
5.5c
Semiconductor maker
Computer graphics chips
Tishman Speyer Properties LP
Stuyvesant Town-Peter Cooper
10/17/06
11/17/06
5.4c
Property owner
Village (owned by MetLife Inc.)
BlackRock Inc.
Apartment complex
Real estate division
Siemens AG
Bayer AG, Diagnostics Unit
6/29/06
1/1/07
5.34a
Conglomerate
Diagnostical instruments
China Mobile Communications
Millicom International Cellular SA
5/24/06
Withdrawn
5.3a
Corp.
Telecommunications
7/4/06
Telecommunications
Goldman Sachs Group Inc.
Associated British Ports Holdings
6/14/06
8/28/06
5.3c
Investment bank
Plc.
Ports operator
Anadarko Petroleum Corp.
Western Gas Resources Inc.
6/23/06
8/23/06
5.26a
Energy
Energy
CRS-6
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Health Care Property Investors
CNL Retirement Properties Inc.
5/2/06
10/9/06
5.2a
Inc.
Health care properties
Health care property owner
Grupo Martinsa SA
Fadesa Inmobiliaria SA
9/28/06
Pending
5.1c
Investor
Real estate
Kohlberg Kravis Roberts & Co. Kion Group (div. Linde AG)
11/5/06
Pending
5.1c
Goldman Sachs Group, Inc.
Materials handling manufacturer
Investors
Danske Bank
Sampo Bank
11/9/06
Pending
5.1b
Banking and finance
Banking and finance
Nasdaq Stock Market Inc.
London Stock Exchange Group Plc
11/20/06
Pending
5.1c
Stock exchange
Stock exchange
BASF AG
Engelhard Corp.
1/3/06
6/12/06
4.9c
Chemicals
Pollution control devices
Bank of Cyprus Ltd.
Emporiki Bank of Greece SA
6/22/06
Withdrawn
4.8c
Banking and finance
Banking and finance
7/19/06
Canadian Natural Resources
Anadarko Canada Ltd.
9/14/06
11/2/06
4.8c
Ltd.
Energy
Energy
Frank Fertitta, III
Station Casinos, Inc.
12/4/06
Pending
4.7c
Lorenzo Fertitta
Casino operator
Colony Capital LLC
Investors
Lottomatica SpA
Gtech Holdings Corp.
1/10/06
8/29/06
4.65c
Gaming company
Lottery services
Carl Icahn
Reckson Associates Realty Corp.
11/16/06
Macklowe
4.6a
Investor
Real estate
and Mac-
Macklowe Properties
Cali
Mac-Cali Realty, LP
withdraw
Real estate
12/4/06
Charterhouse Capital Partners
Vivarte SA
12/14/06
Pending
4.6c
LLP
Retailer
Investor
Hewlett-Packard Corp.
Mercury Interactive Corp.
7/25/06
11/1/06
4.5a
Conglomerate
Software
Blackstone Group
Travelport Div., Cendant Corp.
6/30/06
8/23/06
4.3a
Investors
Travel services distributor
Kohlberg Kravis Roberts & Co. PagesJaunes Groupe SA
7/24/06
10/11/06
4.3a
Goldman Sachs Group Inc.
Telephone directories
Investors
Carl Icahn
Reckson Associates Realty Corp.
12/4/06
Rejected
4.3a
Investor
Real estate
12/5/06
Crédit Agricole SA
Emporiki Bank of Greece SA
6/13/06
8/16/06
4.2a
Banking and finance
Banking and finance
Cerberus Capital Management
Bank Fuer Arbeit Und Wirtschaft
12/14/06
Pending
4.2a
LP
AG
Investor
Banking and finance
TransCanada Corp.
ANR Pipeline Co.
12/22/06
Pending
4.13a
TC Pipelines LP
Great Lakes Gas Transmission
Natural gas
(50%)
Pipeline owners/operators
CRS-7
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Berkshire Hathaway Inc.
Iscar Metalworking Companies Ltd.
5/5/06
7/5/06
4.0a
Conglomerate
Metalworking
Kimco Realty Corp.
Pan Pacific Retail Properties Inc.
7/10/06
9/10/06
4.0a
Real estate
Real estate
Network Healthcare Holdings
General Healthcare Group Plc.
4/25/06
7/15/06
3.9c
Ltd. (Netcare)
Medical services provider
Medical services provider
Motorola Inc.
Symbol Technologies Inc.
9/19/06
Pending
3.9c
Electronics
Handheld bar scanners
Permira Advisers Ltd.
EMI Group Plc
12/7/06
Pending
3.9a
Investors
Music
Power Corp. of Canada
Putnam Investment
12/29/06
Pending
3.9a
Holding company
Money management
Apollo Management LP
GE Advanced Materials unit.
9/14/06
12/3/06
3.8c
Investors
Plastics
Momentive Performance Materials
Dynegy Inc.
LS Power Group Inc.
9/16/06
Pending
3.8a
Power generator
Power generator
Isadore Sharp
Four Seasons Hotels, Inc.
11/6/06
Pending
3.7c
(Founder and Chairman
Hotel owner/operator
Fours Seasons Hotels, Inc.)
Bill Gates
Prince Alwaleed bin Talal
Investors
Abbot Laboratories, Inc.
Kos Pharmaceuticals, Inc.
11/6/06
Pending
3.7c
Pharmaceuticals
Pharmaceuticals
Derwent Valley Holdings Plc
London Merchant Securities Plc
11/14/06
Pending
3.7b
Real estate
Real estate
Kelso & Co.
Adesa Inc.
12/22/06
Pending
3.7c
Goldman Sachs Group Inc.
Auto auction operator
ValueAct Capital
Parthenon Capital
Investors
Sol Kerzner
Kerzner International Ltd.
3/20/06
8/31/06
3.6a
Butch Kerzner
Real estate development
Istithmar PJSC
Whitehall Street Global Real
Estate L.P. 2005
Colony Capital LLC
Providence Equity Partners Inc.
Related Cos., L.P.
Investors
Home Depot Inc.
Hughes Supply Inc.
1/10/06
3/31/06
3.51c
Home-improvement retailer
Building supply
Hankyu Holdings Inc.
Hanshin Electric Railway Co.
5/30/06
10/1/06
3.5a
Railroad operator
Railroad operator
Reynolds American Inc.
Conwood Co.
4/25/06
5/31/06
3.5a
Tobacco
Tobacco
Swisscom SA
Swisscom Mobile (25% not owned)
11/8/06
12/20/06
3.48a
Telecommunications
Mobile telephone operator
LSI Logic Inc.
Agere Systems Inc.
12/4/06
Pending
3.45a
Chipmaker
Chipmaker
CRS-8
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Rite Aid Inc.
Eckard Drug, Brooks Drug
8/23/06
Pending
3.4a
Drug stores
Drug stores
Riverdeep Holdings Plc
Houghton-Mifflin Co.
11/28/06
12/22/06
3.4a
Educational software
Publishing
Houghton-Mifflin Riverdeep
Group Plc
Weyerhauser Inc.
Domtar, Inc.
8/23/06
Pending
3.3c
Forest products
Forest products
Bank of America
U.S. Trust
11/20/06
Pending
3.3a
Banking and finance
Private bank
Onex Corp.
Raytheon, Raytheon Aircraft (div.)
12/20/06
Pending
3.3a
Goldman Sachs Capital Partners Aircraft manufacturer
Investors
Broadway Real Estate Partners
John Hancock Tower
12/29/06
Pending
3.3a
LLC
(owned by Beacon Capital Partners
Real estate
LLC)
Property
Huntington Bancshares Inc.
Sky Financial Group Inc.
12/20/06
Pending
3.29a
Banking and finance
Banking and finance
Prince Alwaleed bin Talal
Fairmont Hotels & Resorts Inc.
1/30/06
5/11/06
3.2c
Colony Capital LLC
Hotels
Investors
Centro Properties Group
Heritage Property Investment Trust
7/10/06
10/5/06
3.2c
Real estate
Real estate
Oshkosh Truck Corp.
JLG Industries, Inc.
10/16/06
12/6/06
3.2a
Motor vehicles
Construction equipment
Mittal Steel Co.
Arcelor Brasil SA
10/25/06
Pending
3.2a
Steel
Steel
Vivendi SA
Polska Telefonia Cyfrowa (49%)
9/26/06
Lawsuit
3.19a
Utilities
Mobile telephony
filed against
Deutsche
Telekom
10/23/06
Tenaris SA
Maverick Tube Corp.
6/13/06
10/5/06
3.185c
(Div. Techint Argentina SA)
Pipe manufacturer
Pipe manufacturer
Babcock & Brown Ltd.
Eircom Group Plc
5/23/06
8/18/06
3.1c
Investors
Telecommmunications
Compagnie Generale de
Veritas DGC Inc.
9/5/06
1/12/07
3.1a
Geophysique
Geophysical information, services
(projected)
Seismic equipment, services
Citigroup Inc.
Akbank (20%)
10/17/06
Pending
3.1b
Banking and finance
Banking and finance
CRS-9
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Citigroup Inc.
Guangdong Development Bank
11/16/06
12/19/06
3.1b
Société Generale SA
Banking and finance
Banking and finance
Ping An Insurance Group
Insurance
International Business Machines
Computer-services provider
China Life
Insurance
State Grid Corp.
Electricity distribution
Citic Trust & Investment Corp.
China Puhua Investment
Investment company
PAI Partners
LaFarge SA, Roofing Tile Division
12/4/06
Pending
3.09c
Investors
Roofing tiles
Macquarie Bank Ltd.
Duquesne Light Holdings Inc.
7/5/06
Pending
3.0a
Banking and finance
Power distribution
Castor Holdings LLC
Duquesne Light Holdings
Blackstone Group LP
United Biscuits Plc
10/25/06
11/12/06
3.0c
PAI Partners
Food company
Investors
Fortress Investment Group LLC Intrawest Corp.
8/11/06
10/26/06
2.8a
Investors
Resort operator
Loral Space & Communications Telesat, Div. BCE Inc.
12/18/06
Pending
2.8a
Inc.
Satellite service company
Conglomerate
Belgacom SA
Proximus SA
8/25/06
11/1/06
2.6c
Telecommunications
Mobile operator
Ferd AS
SIG AG
9/26/06
Pending
2.6b
Holding company
Aseptic packaging
Fomento de Construcciones &
Waste Recycling Group Ltd.
7/17/06
7/17/06
2.55c
Contratas SA
Recycling
Construction
Citadel Broadcasting
ABC Radio
1/23/06
Pending
2.5a
Broadcasting
Broadcasting
Terra Firma Capital Partners LP AWAS
1/30/06
3/24/06
2.5c
Investors
(Morgan Stanley Aircraft Leasing
Div.)
Aircraft leasing
Evraz Group SA
Oregon Steel Mills Inc.
11/20/06
Pending
2.5a
Steel
Steel
Kohlberg Kravis Roberts & Co. Seven Network Ltd. (50%)
11/20/06
Pending
2.5c
Investors
Broadcasting
SeaDrill Ltd.
Smedvig ASA
1/9/06
4/3/06
2.4c
Oil drilling
Oil drilling
Ripplewood Holdings LLC
Reader’s Digest Association Inc.
11/16/06
Pending
2.4b
J. Rothschild Group
Publisher
Merrill Lynch Capital Corp.
GoldenTree Asset Management
GSO Capital Partners
Magnetar Capital
Investors
CRS-10
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
Premier Foods Plc.
RHM Plc
12/4/06
Pending
2.4c
Groceries
Groceries
Ontario Teachers’ Pension Fund Orient Overseas (International) Ltd.
11/23/06
Pending
2.35a
Investor
(4 North American container ports)
Ports operator
Givaudan SA
Quest International
11/22/06
Pending
2.3c
Flavors and fragrances
div. Imperial Chemical Industries
Plc.
Flavors and fragrances
Permira Funds
Unilever NV Frozen Foods
8/28/06
9/1/06
2.21a
Investor
Div.
Processed food
Banco Itau Holding Financeira
BankBoston do Brasil
5/2/06
8/7/06
2.2c
SA
Banking and finance
Banking and finance
Barr Pharmaceuticals Inc.
Pliva d.d.
6/26/06
11/20/06
2.2c
Pharmaceuticals
Pharmaceuticals
Apax Partners Worldwide LLP
Capio AB
9/1/06
Pending
2.2c
Nordic Capital Fund VI
Hospital operator
Investors
CB Richard Ellis Group Inc.
Trammell Crow Co.
10/31/06
12/20/06
2.2c
Real estate broker
Property management
Banco Bilbao Vizcaya
Texas Regional Bancshares
6/12/06
11/12/06
2.17a
Argentaria SA
(dba Texas State Bank)
Banking and finance
Banking and finance
Thales SA
Alcatel-Lucent SA
12/4/06
Pending
2.14c
Defense conglomerate
Satellite, Transport, Security
Divisions.
Vivendi SA
BMG (Bertelsmann Music Group)
9/6/06
Pending
2.1c
Conglomerate
(div. Bertelsmann AG)
Music publisher
Eli Lilly & Co.
Icos Corp.
10/17/06
Pending
2.1a
Pharmaceuticals
Biotechnology
Graceway Pharmaceuticals Inc.
3M Pharmaceutical Div.
11/9/06
1/2/07
2.1c
Pharmaceuticals
Pharmaceuticals
Meda AB
Ironbridge Capital
Archer Capital
Investors
John Fairfax Holdings Ltd.
Rural Press Ltd.
12/6/06
Pending
2.1c
Newspaper publishing
Newspaper publishing
GlaxoSmithKline Plc
Genmab A/S
12/19/06
Pending
2.1c
Pharmaceuticals
Biotechnology
Telefon AB L.M. Ericsson
Redback Networks Inc.
12/20/06
Pending
2.1a
Telecommunications
Routing equipment manufacturer
Promociones Habitat SA
Ferrovial Immobiliaria SA
12/29/06
Pending
2.1c
Real estate
Real estate
Bain Capital Partners LLC
Burlington Coat Factory Warehouse
1/18/06
4/13/06
2.06a
Investors
Corp.
Retailer
CRS-11
Acquirer, Sector, and
Target Firm, Sector and
Date
Date
Value
New Name (if applicable)
New Name (if applicable)
Announced Completed ($ billions)
HBOS Plc
McCarthy & Stone Plc
8/1/06
9/4/06
2.05c
Mortgage bank
Retirement-home developer
Simon & David Reuben
Victor Tchenguiz
Investors
Hospira Inc.
Mayne Pharma Ltd.
9/20/06
1/30/07
2.0a
Hospital products
Pharmaceuticals
(projected)
Sources: Mergerstat Online [http://www.mergerstat.com]; Mergers & Acquisitions Magazine, various issues; The
Wall Street Journal, various dates; The Financial Times, various dates; announcement and closing dates from
The Wall Street Journal or The Financial Times, various dates.
Notes: Values given for transactions are expressed as the value of the combined assets of the two firms when there
is a merger. In an acquisition, the value shown is the purchase price of the target corporation. These figures
sometimes vary from one source to another and can change as the market value of the company’s stock changes;
values are shown in U.S. Dollars. U.S. Dollar value can fluctuate with changes in exchange rates.
a. Value source, The Wall Street Journal.
b. Value source, The Financial Times.
c. Value source, Bloomberg.com.
d. Kate Burgess and Andrea Felsted, “Aviva and Pru left vulnerable as bid ends — Investors at risk as £17bn
takeover is scrapped,” Financial Times, Mar. 25, 2006, p. 1.
The designation “Pending” often indicates that regulatory approval needed for actual merger has not been
obtained.
CRS-12
CRS Reports
For activity in previous years, see these earlier CRS reports:
CRS Report RL33329, Largest Mergers and Acquisitions by Corporations: 2005, by John
Williamson.
CRS Report RS21726, Largest Mergers and Acquisitions by Corporations: 2004, by John
Williamson.
CRS Report RS21415, Largest Mergers and Acquisitions by Corporations: 2003, by John
Williamson.
CRS Report RS21147, Largest Mergers and Acquisitions by Corporations: 2002, by John
Williamson.
CRS Report RS20804, Largest Mergers and Acquisitions by Corporations: 2001, by John
Williamson.
CRS Report RS20504, Twenty-five Largest Mergers and Acquisitions by Corporations: 2000,
by John Williamson.
CRS Report RS20503, Twenty-five Largest Mergers and Acquisitions by Corporations: 1999,
by John Williamson.
CRS Report RS20502, Twenty-five Largest Mergers and Acquisitions by Corporations: 1998,
by John Williamson.