Twenty-five Largest Mergers and Acquisitions by Corporations: 1999

Order Code RS20503 Updated January 4, 2001 CRS Report for Congress Received through the CRS Web Twenty-five Largest Mergers and Acquisitions by Corporations: 1999 John Williamson Technical Information Specialist Resources, Science, and Industry Division Summary The rate of corporate mergers and acquisitions both in the United States and internationally has increased. This report provides a listing of the 25 largest mergers or acquisitions for the year 1999.† Completion dates for the mergers or acquisitions are included. Data have been drawn from publicly available sources and not otherwise verified by CRS. This report will be updated as warranted. Twenty-five Largest Mergers or Acquisitions: 1999 (ranked by value) (All amounts cited are U.S. Dollars) Value ($ Date Date Announced Completed billions) Acquirer, Sector, and New Name (if applicable) Target Firm and Sector Vodafone AirTouch plc Telecommunications Mannesmann AG Diversified 11/13/99 Pfizer Pharmaceuticals Warner-Lambert Pharmaceuticals 11/4/99 6/19/00 Exxon Corp. Petroleum Exxon Mobil Corp. Mobil Corp. Petroleum 12/1/98 11/30/99 86.361 Sumitomo Bank Ltd. Banking and finance Sakura Bank Ltd. Banking and finance 10/14/99 4/01 (projected) 77.06 SBC Communications Telecommunications Ameritech Telecommunications 5/11/98 10/8/99 72.361 3/31/00 $180.954 116.03 * The designation “Pending” often indicates that regulatory approval needed for actual merger has not been obtained. † For the top 25 mergers of 1998, see CRS Report RS20502, Twenty-five Largest Mergers and Acquisitions by Corporations: 1998; and for the year 2000 for all mergers and acquisitions with a value in excess of $4 billion, see CRS Report RS20504, Largest Mergers and Acquisitions by Corporations: 2000. Congressional Research Service ˜ The Library of Congress CRS-2 Acquirer, Sector, and New Name (if applicable) Target Firm and Sector Value Date Date ($ Announced Completed billions) AT&T Telecommunications Telecommunications Inc. (TCI) Telecommunications 7/28/98 3/9/99 69.901 Olivetti SpA Diversified Telecom Italia SpA Telecommunications 2/20/99 5/21/99 65.044 Vodafone plc Telecommunications Vodafone AirTouch plc AirTouch Communications, Inc. Telecommunications 1/18/99 6/30/99 60.295 AT&T Telecommunications MediaOne Group Telecommunications 4/22/99 6/15/00 56.024 Total Fina SA Petroleum Total Fina Elf SA Elf Aquitaine Petroleum 7/5/99 10/28/99 53.545 Royal Bank of Scotland Group plc Banking and finance National Westminster Bank plc Banking and finance 11/29/99 4/25/00 42.735 Fuji Bank Ltd. Banking and finance Mizuho Holdings, Inc. Dai-Ichi Kangyo Bank Ltd. Banking and finance 8/20/99 9/29/00 40.106 Viacom Entertainmenttelecommunications CBS Entertainmenttelecommunications 9/7/99 5/4/00 39.434 Qwest Communications Telecommunications US West, Inc. Telecommunications 7/19/99 73/00 38.484 Mannesmann AG Diversified Orange, plc Telecommunications 10/21/99 2/10/00 32.595 Fuji Bank Ltd. Banking and finance Mizuho Holdings, Inc. Industrial Bank of Japan Ltd. Banking and finance 8/20/99 9/29/00 30.765 BP Amoco, plc Petroleum Atlantic-Richfield Petroleum 4/1/99 4/18/00 26.613 Monsanto Pharmaceuticals Pharmacia Pharmacia & Upjohn Inc. Pharmaceuticals 12/19/99 4/3/00 25.763 Lucent Technologies Inc. Telecommunications Ascend Communications Inc. Telecommunications 1/13/99 6/25/99 24.133 Clear Channel Communications Telecommunications AMFM Inc. Telecommunications 10/4/99 8/30/00 23.83 Banque Nationale de Paris SA Banking and finance BNP-Paribas SA Paribas Banking and finance 3/9/99 2/1/00 20.33 DDI Telecommunications KDDI KDD Telecommunications IDO Telecommunications 12/17/99 10/1/00 18.993 Motorola Inc. Electronics General Instrument Corp. Electronics 9/15/99 1/6/00 17.04 * The designation “Pending” often indicates that regulatory approval needed for actual merger has not been obtained. CRS-3 Acquirer, Sector, and New Name (if applicable) Target Firm and Sector VEBA AG Diversified utility E.ON AG Diversified utility VIAG AG Diversified utility Deutsche Bank AG Banking and finance Bankers Trust Corp. Banking and finance Value Date Date ($ Announced Completed billions) 9/1/99 6/21/00 114.03 11/30/98 6/4/99 10.14 * The designation “Pending” often indicates that regulatory approval needed for actual merger has not been obtained. Note: 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. The values shown above are derived from the following sources: 1 Source for value: “The Top Ten Deals of 1998, Fortune, Jan. 11, 1999, p. 62-66. 2 Source for value: Mergers & Acquisitions. 3 Source for value: Mergerstat. 4 Source for value: The Wall Street Journal. 5 Source for value: The Financial Times. 6 Source for value: American Banker, Oct 15, 1999; p. 4 Sources: “The Top Ten Deals of 1998.” Fortune, Jan. 11, 1999, p. 62-66 ; Deogun, Nikhil. “Year-End Review of Markets & Finance 1999.” Wall Street Journal, January 3, 2000, p. R8; Mergerstat Review, various editions; Mergers & Acquisitions, various issues; announcement and closing dates from The Wall Street Journal or The Financial Times, various dates.