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Vodafone

Mannesmann

$203 billion

AOL

Time Warner

$182 billion

MCI

Sprint

$115 billion

Pfizer

Warner-Lambert

$ 85 billion

Exxon

Mobil

$ 77 billion

BP

Amoco

$ 94 billion

Table 2

: Global M&A top ten deals (Jan 1 to Jun 19 2000

Target

Acquirer

Value of deal ($m)

Time Warner (US)

American Online (US)

181,940.5

SmithKline Beecham (UK)

Glaxo Wellcome (UK)

78,384.5

Nortel Networks (Canada)

Shareholders (Canada)

61,658.7

Orange (Mannesmann) (UK)

France Telecom (France)

45,967.1

Seagram (Canada)

Vivendi (France)

42,782.6

Cable & Wireless HKT (Hong Kong)

Pacific Century Cyberworks (Hong Kong)

35,495.1

Bestfoods (US)

Unilever (UK)

23,699.2

Network Solutions (US)

VeriSign (US)

21,003.0

Allied Zurich (UK)

Zurich Allied (Switzerland)

19,399.1

Seat Pagine Gialle (Italy)

Tin.it (Italy)

18,694.3

Source: Thomson Financial Securities Data (reproduced in the Financial Times of 30 June 2000)

Table 3

: M&A top ten acquisitions of US companies (Jan 1 to Jun 19 2000)

Target

Acquirer

Value of deal ($m)

Time Warner

America Online (US)

181,940.5

Bestfoods

Unilever (UK)

23,699.2

Network Solutions

VeriSign (US)

21,003.0

Seagate Technology

Veritas Software (US)

17,677.2

Coastal Corp

El Paso Energy (US)

15,678.6

E-Tek Dynamics

JDS Uniphase (US)

15,244.7

Times Mirror

Tribune (US)

11,628.2

Lycos

Terra Networks (Telefonica) (Spain)

10,264.4

Champion International

International Paper (US)

9,647.1

Nabisco Group Holdings

Carl Icahn

8,554.0

Source: Thomson Financial Securities Data (ibid).

Table 4

: M&A top ten acquisitions of European companies (Jan 1 to Jun 19 2000)

Target

Acquirer

Value of deal ($m)

SmithKline Beecham (UK)

Glaxo Wellcome (UK)

78,384.5

Orange (Mannesmann) (UK)

France Telecom (France)

45,967.1

Allied Zurich (UK)

Zurich Allied (Switzerland)

19,399.1

Seat Pagine Gialle (Italy)

Tin.it (Italy)

18,694.3

Norwich Union (UK)

CGU (UK)

11,858.3

Credit Commercial de France (France)

HSBC Holdings (UK)

11,223.0

Mannesmann Atecs (Germany)

Investor Group (Germany)

9,394.1

Telia AB (Sweden)

Investors (Unknown)

8,897.0

AOL Europe, AOL Australia (Germany)

America Online (US)

8,250.0

Dordtsche Petroleum (Netherlands)

Investor group (Netherlands)

8,125.2

Source: Thomson Financial Securities Data (ibid.)

Table 5

: M&A top ten acquisitions of UK companies (Jan 1 to Jun 19 2000)

Target

Acquirer

Value of deal ($m)

SmithKline Beecham (UK)

Glaxo Wellcome (UK)

78,384.5

Orange (Mannesmann) (UK)

France Telecom (France)

45,967.1

Allied Zurich (UK)

Zurich Allied (Switzerland)

19,399.1

Norwich Union (UK)

CGU (UK)

11,858.3

Compass Group

Granada Group (UK)

8,089.7

Robert Fleming Holdings

Chase Manhattan Corp. NY (US)

7,697.6

MEPC

Leconport Estates (Multi-national)

5,233.2

Burmah Castrol

BP Amoco (UK)

5,104.4

Pearson Television

CLT-UFA (Cie Luxembourgeoise) (Lux)

4,249.1

Flextech

Telewest Communications (UK)

3,750.5

Source: Thomson Financial Securities Data (ibid.)

Table 6

: Asian M&As – top five Asian M&A deals, 2000

Rank

Target

Sector

Acquirer

Value of deal ($bn)

1

Dai-ichi Kangyo Bank

Banks

Fuji Bank

40.1

2

Cable & Wireless HKT

Telecommunications

Pacific Century Cyberworks

37.4

3

Beijing Mobile

Telecommunications

China Mobile (Hong Kong)

34.0

4

Industrial Bank of Japan

Banks

Fuji Bank

30.8

5

KDD

Telecommunications

DDI

15.8

Table 7

: 12 largest US bank deals from Dec 1995 to the beginning of June 1999

Buyer

Seller

Deal value($bn)

Date announced

First Union

CoreStates Financial

17.1

Nov 97

NationsBank

Barnett Banks

15.5

Aug 97

Wells Fargo

First Interstate

12.3

Jan 96

Firstar

Mercantile Bancorp

10.7

Apr 99

NationsBank

Boatmen’s Bancshares

9.7

Aug 96

Sun Trust Banks

Crestar Financial

9.6

Jul 98

Deutsche Bank

Bankers Trust

9.6

Nov 98

First Bank System US

Bancorp

9.1

Mar 97

National City

First of America

7.1

Dec 97

Amsouth

First America

5.8

Jun 99

Bank of America*

NationsBank*

67.0

Apr 98

Bank One*

First Chicago*

30.0

Apr 98

Travelers*

Citicorp

83.0

Apr 98

*These mergers were mergers of equals

Source: Financial Times, 8 June 1999

Table 8

: Top 10 world banks (by total assets), September 2000

Bank

Country

Assets ($bn)

Fuji-IBJ-DKB

Japan

1,480.5

Sanwa-Asahi-Tokai

Japan

1,055.8

Sumitomo-Sakura

Japan

960.0

Bank of Tokyo-Mitsubishi

Japan

691.0

PNB-Parisbas

France

673.7

Citigroup

US

668.6

Bank of America

US

617.7

Deutsche Bank

Germany

600.0

UBS

Switzerland

564.2

HSBC Holdings

UK

483.1

(Source: Reuters Securities 3000, reproduced in the Financial Times of 28 September 2000)

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