List of largest mergers and acquisitions

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The following tables list the largest mergers and acquisitions in each decade. Transaction values are given in the US dollar value for the year of the merger, adjusted for inflation. As of October 2019 the largest ever acquisition was the 1999 takeover of Mannesmann by Vodafone Airtouch PLC at $202 billion ($304 billion adjusted for inflation). Pfizer appears in these lists the most times with three entries, for a combined transaction value of $240 billion.

Free market enterprises[edit]

1870s[edit]

Top M&A deals worldwide by value from 1870 to 1879:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2017 USD)
1 1879 United States Pacific Coast Oil Company United States Star Oil 0.001 0.024

1900s[edit]

Top M&A deals worldwide by value from 1900 to 1909:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2017 USD)
1 1901 United States United States Steel Corporation United States Carnegie Steel Company 0.492 15
2 1900 United States Standard Oil United States Pacific Coast Oil Company 0.001 0.026

1940s[edit]

Top M&A deals worldwide by value from 1940 to 1949:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2017 USD)
1 1948 United States Burlington Mills[2] United States May McEwen Kaiser 0.014 0.140
2 1947 Australia Zinc Corporation[3] United Kingdom Smelting Corporation 0.013 0.146
3 1948 United States National Distilled Products[2] United States Blum Philip & Co 0.013 0.130

1950s[edit]

Top M&A deals worldwide by value from 1950 to 1959:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2017 USD)
1 1956 United States Georgia Pacific[2] United States Hammond Lumber Company 0.008 0.661
2 1953 United States Chrysler Corporation[2] United States Briggs Automotive 0.007 0.628
3 1954 United States Minute Maid Corporation[2] United States Snow Corporation 0.004 0.348
4 1956 United States Pabco Products[2] United States Sinclair Mines 0.004 0.333
5 1953 United States Peabody Coal Company[2] United States Fireboard Products 0.003 0.307
6 1957 United States America Petrofina[2] United States American Liberty Oil 0.003 0.223
7 1959 United States N A F I Corp[2] United States Oil and Gas Property Management 0.002 0.156
8 1957 United States Philip Morris[2] United States Milprint Inc 0.002 0.140
9 1958 United States McGraw Edinson Co[2] United States National Electric Coil 0.002 0.129
10 1955 United States Phil & Reading[2] United States Union Underwear Co 0.001 0.131

1960s[edit]

Top M&A deals worldwide by value from 1960 to 1969:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2017 USD)
1 1969 United States Xerox Corporation[2] United States Scientific Data Systems 0.910 6
2 1968 United States Sun Oil[2] United States Sunray D X Oil Co. 0.840 6
3 1966 United States Atlantic Refining[2] United States Richfield Oil 0.535 4
4 1968 United States Kennecott Copper[2] United States Peabody Coal Corporation 0.475 3
5 1968 United States Occidental Petroleum[2] United States Hooker Chemical 0.483 3
6 1968 United States Loews Theatres[2] United States Lorillard P Corporation 0.450 3
7 1968 United States Ling-Temco-Vought[2] United States Jones and Laughlin Steel Company 0.425 3
8 1968 United States Glen Alden Corporation[2] United States Schenley Industries 0.421 3
9 1968 United States Singer Corporation[2] United States General Precision Equipment Corporation 0.404 3
10 1968 United States Montgomery Ward[2] United States Container Corporation of America 0.300 2
11 1968 United States Northwest Industries[2] United States Phil & Reading 0.300 2

1970s[edit]

Top M&A deals worldwide by value from 1970 to 1979:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2017 USD)
1 1977 United States Atlantic Richfield Company[2] United States Anaconda Copper 0.784 3
2 1978 United States Johns Manville[2] United States Olinkraft Inc 0.585 2
3 1977 United States Kennecott Copper[2] United States Carborundum Corporation 0.567 2
4 1978 United States Philip Morris[2] United States Seven-Up Bottling Co 0.520 2
5 1972 United States Colgate Palmolive[2] United States Kendall Co 0.514 3
6 1978 United States Beatrice Foods Co[2] United States Tropicana Products 0.490 2
7 1974 United States International Paper[2] United States General Crude Oil 0.486 2
8 1978 NetherlandsUnited Kingdom Unilever[2] United States National Starch & Chemical 0.485 2
9 1974 United Kingdom Burmah Oil[2] United States Signal Oil & Gas 0.480 2
10 1970 United States Warner–Lambert[2] United States Parke-Davis 0.413 3

1980s[edit]

Top M&A deals worldwide by value from 1980 to 1989:

Rank Year Purchaser Purchased Transaction value
(in billions USD)
[1] Inflation adjusted
(in billions 2018 USD)
1 1989 United States Kohlberg Kravis Roberts[4] United States RJR Nabisco 31 63
2 1984 United States Standard Oil of California[5] United States Gulf Oil 13.2 32
3 1988 United States Philip Morris United States Kraft Foods 13.1 28
4 1987 United Kingdom BP[6] United States Standard Oil of Ohio 7.8 17
5 1981 United States Du Pont[7] United States Conoco 7.3 20
6 1986 United States Kohlberg Kravis Roberts United States Beatrice Cos. 6.2 13
7 1984 United States Mobil[8] United States Superior Oil Co. 5.7 14
8 1985 United States R.J. Reynolds Industries United States Nabisco Brands 4.9 11
9 1986 United States Burroughs Corporation United States Sperry Corporation 4.8 11
10 1986 United States Kohlberg Kravis Roberts United States Safeway Stores 4.3 10
11 1982 United States Occidental Petroleum Corporation[9] United States Cities Service Company 4 10

1990s[edit]

Top 10 M&A deals worldwide by value from 1990 to 1999:[10]

Rank Year Purchaser Purchased Transaction value
(in billions USD)
Inflation adjusted
(in billions 2016 USD)
1 1999 United Kingdom Vodafone Group[11] Germany Mannesmann 202 304
2 1999 United States Pfizer[12] United States Warner-Lambert 111.8 168
3 1998 United States Exxon[13][14] United States Mobil 77.2 119
4 1998 United States Citicorp United States Travelers Group 73 112
5 1999 United States SBC Communications United States Ameritech Corporation 63 95
6 1999 United Kingdom Vodafone Group United States AirTouch Communications 60 90
7 1998 United States Bell Atlantic[15] United States GTE 53.36 82
8 1998 United Kingdom BP[16] United States Amoco 53 81
9 1999 United States Qwest Communications United States US WEST 48 72
10 1997 United States Worldcom United States MCI Communications 42 66

2000s[edit]

Top 10 M&A deals worldwide by value from 2000 to 2010:[10]

Rank Year Purchaser Purchased Transaction value
(in billions USD)
Inflation adjusted
(in billions 2016 USD)
1 2000 United States AOL Inc.[17][18] United States Time Warner 165 240
2 2007 Netherlands RFS Holdings BV Netherlands ABN Amro BV 98 118
3 2000 United Kingdom Glaxo Wellcome Plc. United Kingdom SmithKline Beecham Plc. 76 111
4 2004 United KingdomNetherlands Royal Dutch Petroleum United KingdomNetherlands Shell Transport & Trading Co. 75 99
5 2006 United States AT&T Inc.[19][20] United States BellSouth Corporation 73 90
6 2001 United States Comcast Corporation United States AT&T Broadband 72 102
7 2009 United States Pfizer Inc. United States Wyeth 68 79
8 2002 United States Pfizer Inc. United Kingdom Pharmacia Corporation 60 83
9 2004 United States JPMorgan Chase & Co.[21] United States Bank One Corporation 59 78
10 2008 Belgium InBev Inc. United States Anheuser-Busch Companies, Inc. 52 61

2010s[edit]

Top M&A deals worldwide by value (larger than $20 billion) from 2011 to 2020:

Rank Year Purchaser Purchased Transaction value
(in billions USD) (with debt)
Inflation adjusted
(in billions USD) (with debt)
Ref
1 2013 United States Verizon Communications United States Verizon Wireless 130.0 140 [22][N 1]
2 2015 United States Dow Chemical United States DuPont 130.0 137 [23]
3 2019 United States United Technologies (Aerospace division) United States Raytheon 121.0 121 [24][25][26][27]
4 2015 Belgium Anheuser-Busch InBev United Kingdom SAB Miller 107.0 113 [N 2]
5 2015 United States Heinz United States Kraft 100.0 106 [28][N 3]
6 2018 United States AT&T Inc. United States Time Warner 85.4 — 108.7 89 — 113 [29]
7 2016 United States Praxair Germany Linde AG 85.0 87 [30]
8 2015 United States Charter Communications United States Time Warner Cable 78.7 83 [31][N 4]
9 2019 United States Bristol-Myers Squib United States Celgene 74.0 — 95.0 74 — 95 [32][N 5][33][34][35]
10 2019 United States The Walt Disney Company United States 21st Century Fox 71.3 — 85.1 71 — 85 [36][37]
11 2015 Republic of Ireland Actavis United States Allergan, Inc 70.5 75
12 2015 United KingdomNetherlands Royal Dutch Shell United Kingdom BG Group 70.0 — 81.9 74 — 87 [38][39]
13 2017 United States CVS Health United States Aetna 70.0 72 [40][41]
14 2019 Saudi Arabia Saudi Aramco Saudi Arabia SABIC 69.1 69 [42]
15 2015 United States Dell United States EMC Corporation 67.0 71
16 2018 United States Abbvie Republic of Ireland Allergan plc 63.0 63 [43]
17 2018 Japan Takeda Pharmaceutical Republic of Ireland Shire plc 62.0 62 [44]
18 2017 France Essilor Italy Luxottica 58.5 60 [45]
19 2016 Germany Bayer United States Monsanto 54.5 — 63.5 57 — 66 [46][47]
20 2018 United States Cigna United States Express Scripts 53.0 — 67.0 53 — 67 [48]
21 2019 France Groupe PSA ItalyUnited States Fiat Chrysler 50 50 [49]
22 2015 United Kingdom British American Tobacco United States R. J. Reynolds Tobacco Company 49.4 50 [N 6]
23 2015 United States AT&T Inc. United States DirecTV 49.0 — 67.1 52 — 71 [N 7]
24 2016 China ChemChina Switzerland Syngenta 43.0 45
25 2015 Republic of Ireland Medtronic Republic of Ireland Covidien 42.3 45
26 2015 Israel Teva Pharmaceutical Industries United States Actavis Generics 40.5 43 [50][51][52][N 8]
27 2018 United States Comcast Corporation United Kingdom Sky plc 39.0 39 [53][54]
28 2018 Germany E.ON SE Germany Innogy SE 38.5 39 [55]
29 2019 United States Occidental Petroleum Corp United States Anadarko Petroleum 38.0 — 57.0 38 — 57 [56]
30 2015 United States Berkshire Hathaway United States Precision Castparts 37.2 39 [57]
31 2019 United States Fidelity National Information Services United States Worldpay 35.0 — 43 35 — 43 [58]
32 2018 United States IBM United States Red Hat 33.4 34 [59]
33 2016 Republic of Ireland Shire plc United States Baxalta 32.0 — 35 33 — 37 [60][61]
34 2016 Japan Softbank United Kingdom ARM Holdings 32.0 33
35 2017 United States United Technologies United States Rockwell Collins 30.0 32
36 2012 United States T-Mobile US United States MetroPCS 29.0 32
37 2013 United States Berkshire Hathaway
United States 3G Capital
United States Heinz 28.0 30
38 2019 United States BB&T Corp United States SunTrust Banks 28.0 28 [62]
39 2016 United States Microsoft United States LinkedIn 26.2 27 [63]
40 2018 United States T-Mobile US United States Sprint Corporation 26.0 26 [64][N 9]
41 2016 United States Abbott Laboratories United States St Jude Medical 25.0 — 30.5 26 — 32
42 2017 United States Agrium United States Potash Corp of Saskatchewan Inc 25.0 26
43 2013 United States Michael Dell
United States Silver Lake Partners
United States Dell 24.4 26 [65][66]
44 2016 United States Century Link United States Level 3 Communications 24.0 25
45 2018 United States Marathon Petroleum Corp United States Andeavor 23.0 — 35.6 23 — 37 [67]
46 2018 United Kingdom London Stock Exchange Group United States Refinitiv 27.0 27 [68]
47 2016 United States Johnson Controls United States Tyco International 22.0 23
48 2018 Italy Atlantia
Spain Grupo ACS
Spain Abertis 22.0 22 [69]
49 2019 United States Fiserv United States First Data 22.0 22 [70]
50 2018 United Kingdom Vodafone Group United States Liberty Global (Germany and eastern Europe) 21.8 22 [71]
51 2013 Japan Softbank United States Sprint Corporation 21.6 23
52 2019 United States Global Payments United States TSYS 21.5 22 [72]
53 2019 United States Danaher Corporation United States GE Biopharma 21.4 21 [73]
54 2018 United States Keurig Green Mountain United States Dr Pepper Snapple Group 21.0 21

State owned enterprises[edit]

Rank Year Purchaser Purchased Total asset value
(billions USD)
Inflation adjusted
(billions USD)
Note
1 2017 China Shenhua Group China China Guodian Corporation 278 284 In August 2017, SASAC announced that China Guodian Corporation (one of China's largest coal-fired power generators) and Shenhua Group (China’s biggest coal miner) would be jointly restructured, with Shenhua Group becoming China Energy Investment Corporation and absorbing China Guodian Corporation to become the largest power company in the world by installed capacity.[74][75]
2 2015 China China Minmetals China China Metallurgical Group 245.6 260 In December 2016, China continued its consolidation drive, focussing on their mining sector where China Minmetals Corp took over equipment maker China Metallurgical Group Corp. Minmetals was China’s biggest steel and base metals trader with revenue of more than $50 billion last year, whilst China Metallurgical Group reported revenues of more than $33 billion.[76][77]
3 2017 China Sinograin China China National Cotton Reserves Corp. 213 218 In January 2017, the Chinese government confirmed the merger of China National Cotton Reserves Corp and Sinograin as part of their drive to reduce the number of State Owned Enterprises to a target of 100.[78]
4 2018 China ChemChina China Sinochem 120.0 120 Merger of the Chinese state-controlled ChemChina and Sinochem in a deal reported to be worth $120 billion.[79] The merger would create the largest entity in the industrial chemicals industry, overtaking BASF. [80][81][82][83]
5 2015 China China Power Investment China State Nuclear Power Technology 112.6 119 In June 2015 the Chinese cabinet approved plans to merge state owned China Power Investment (CPIC) with State Nuclear Power Technology increasing the exports of nuclear technology from the country, creating the new entity China Power New Energy Development Company Limited, with assets of more than $112.6 billion) and annual revenues of more than $32.6 billion.[84][85]
6 2017 China China National Nuclear Corp China China Nuclear Engineering & Construction 99 99 Merger of China’s second largest nuclear power producer, and their top nuclear power plant builder.[86]

Largest ever deals which have failed to complete[edit]

This lists catalogues M&A (above $20 billion in transaction value) deals which were confirmed, but for a number of reasons, failed to complete.

Rank Year Purchaser Purchased Transaction value
(in billions USD)
Inflation adjusted value Note
1 2015 United States Pfizer Republic of Ireland Allergan, plc 160 169 The deal fell through over changes made to tax inversion legislation by the US Government.[87]
2 2008 United Kingdom Australia BHP Billiton United Kingdom Australia Rio Tinto 148 172 As commodity prices fell in value, the deal became too risky for BHP Billiton to complete.[88][87]
3 2017 United States Kraft Heinz United Kingdom Netherlands Unilever plc 143 146 Kraft's offer was an 18% premium to Unilever's closing share price the day before the announcement, however Unilever Executives claimed the deal undervalued the company[89] as well as job-cut implications and regulator approval issues.[90] The bid was formally dropped on February 19, citing the complexities of acquiring control in a Dutch entity without the support of shareholders.[91]
4 1999 United States MCI WorldCom United States Sprint 129 194 The US Department of Justice and European Commission prohibited the merger on competition grounds, with the DoJ filing a lawsuit against the transaction.[87][92][93]
5 2014 United States Pfizer United Kingdom Sweden Astra Zeneca 123 130 Significant concerns were raised by the UK Government over job security, in the end leading to a deal being abandoned due to resistance from the AstraZeneca Board.[87]
6 2018 United States Broadcom Ltd United States Qualcomm Inc 121 121 Qualcomm claimed that Broadcom had undervalued the business but did propose to meet Broadcom officials, with the initial offer of $121 billion ($140 billion with debt).[94][95] On February 21, Broadcom reduced their offer to $117 billion in light of Qualcomms increased bid for NXP Semconductors.[96]
7 2018 United States Broadcom Ltd [N 10] United States Qualcomm Inc 117 117 On February 21, Broadcom reduced their offer to $117 billion in light of Qualcomms increased bid for NXP Semconductors.[96] The deal was effectively blocked after US President Donald Trump blocked any deal based upon national security grounds.[97]
8 1999 United States MCI WorldCom United States Sprint 111 167 The Board of Sprint claimed that the first deal undervalued the company and thus rejected the proposal.[87]
9 2014 United States Pfizer United Kingdom Sweden Astra Zeneca 106 113 AstraZeneca claimed the deal undervalued the company.[98]
10 2018 United States Broadcom Ltd United States Qualcomm Inc 103 103 $130 billion with assumed debt ($103 billion without), Qualcomm shareholders would get $60 in cash and $10 per share in Broadcom shares. Qualcomm rejected Broadcom's $103 billion takeover bid, saying the offer “dramatically” undervalued the U.S. company.[99][100]
11 2014 United States Pfizer United Kingdom Sweden Astra Zeneca 99 105 AstraZeneca claimed the deal undervalued the company.[101]
12 2016 United States Honeywell United States United Technologies 90 94 Honeywell dropped a bid to acquire United Technologies, citing potential regulatory hurdles.[102][103]
13 1999 United States Pfizer United States Warner–Lambert 82.4 124 Pfizer made a hostile bid, just after the announcement of a $72 billion deal with Wyeth, the eventual purchase price would be in excess of $90 billion.[104][105][106]
14 2014 United States 21st Century Fox United States Time Warner 80 85 21st Century Fox abandoned its takeover Time Warner Inc., due to the unwillingness of the Time Warner Board to engage with the Fox Executives. This also caused a sharp dip in Fox's stock price which made a deal unattractive to Fox shareholders.[107][108]
15 1999 United States Wyeth United States Warner–Lambert 72 108 Wyeth confirmed it has agreed a $72 billion deal with Warner–Lambert, causing Pfizer to make a hostile bid, just after the announcement.[104][105][106]
16 2004 United States Comcast United States Disney 66 88 Comcast Executives abandoned the deal to buy Walt Disney after both investors and Disney Executives failed to agree on the acquisition.[109]
17 1999 United States Wyeth United States Warner–Lambert 65 98 The two companies discussed a potential merger, uniting two of the largest pharmaceutical companies. This was eventually thwarted by Pfizer, in order to maintain control of the blockbuster drug - Lipitor - with their $111.8 billion offer.[110][111]
18 2018 United States Comcast United States 21st Century Fox 65 65 Main Article: Proposed acquisition of 21st Century Fox
19 2018 Japan Takeda Pharmaceutical Republic of Ireland Shire 62.5 63 Third bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalue the Company, its growth prospects as well as pipeline.[112]
20 2018 Japan Takeda Pharmaceutical Republic of Ireland Shire 62.1 62 Fourth bid with enhanced cash component, super-ceded by a fifth bid on April 24.[113]
21 2018 Japan Takeda Pharmaceutical Republic of Ireland Shire 61 61 Second bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalue the Company, its growth prospects as well as pipeline.[112]
22 2018 Japan Takeda Pharmaceutical Republic of Ireland Shire 58.2 58 First bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalue the Company, its growth prospects as well as pipeline.[112]
23 2014 United States AbbVie Republic of Ireland Shire 54 57 The deal fell through over changes made to tax inversion legislation by the US Government.[114]
24 2017 United States Disney United States 21st Century Fox 52.4 54 Main Article: Proposed acquisition of 21st Century Fox
25 2015 United States Monsanto Switzerland Syngenta 46.5 49 Monsanto dropped its hostile bid for Syngenta, refocusing on its five-year plan to double earnings and avoid a backlash from large shareholders.[115] Subsequently, Bayer offered to purchase Monsanto, with ChemChina offering to acquire Syngenta.
26 2015 United States Anthem United States Cigna 47 50 The transaction was blocked by US Federal Judges on grounds of diminished competition and the 'irreparable harm' that would be done to the US health insurance market.[116]
27 2012 European Union EADS United Kingdom BAE Systems 45 49 Lack of investor support, coupled with opposition from the UK Government, German Government and the French Government (which also has a direct holding in EADS).
28 2014 United States Comcast United States Time Warner Cable 45.2 48 Main Article: Attempted purchase of Time Warner Cable by Comcast
29 2016 United States Qualcomm Netherlands NXP Semiconductors 44 46 Qualcomm raised their offer from $110 per share to $127.50 per share after pressure from activist investors.[117] In 2018, China decline approve of the merger, leading to its cancelation on July 26, 2018.[118]
30 2001 United States General Electric United States Honeywell 42 59 The EU Competition commission recommended that the commission reject GE-Honeywell, the commission argued that the merger would reduce competition - specifically within the aerospace industry - which could end up generating higher prices for consumers.[119]
31 2001 United States United Technologies United States Honeywell 40 58 United Technologies ended merger talks with Honeywell after it had emerged that General Electric had dealt a counter-offer.[120][121]
32 2015 Israel Teva Pharmaceutical Industries Netherlands Mylan 40 42 In April, Teva offered to acquire Mylan for $40 billion,[122] only a fortnight after Mylan offered to acquire Perrigo for $29 billion.[123] Teva's offer for Mylan is contingent on Mylan abandoning its acquisition of Perrigo.[124] Mylan stated in June 2015 that Teva’s disclosure that it had a 1.35 percent stake in Mylan violated US anti-trust rules.
33 2011 United States AT&T United States T-Mobile US 39 43 On August 31, 2011, the Antitrust Division of the United States Department of Justice formally announced that it would seek to block the takeover, and filed a lawsuit to such effect in federal court.[125]
34 2011 Hong Kong Hong Kong Stock Exchange United Kingdom London Stock Exchange 39 39 $39 billion takeover proposal was rejected by the Board of the London Stock Exchange.[126][127][128]
35 2016 United States Halliburton United States Baker Hughes 38 40 The transaction was terminated after facing opposition from U.S. and European antitrust regulators.[129]
36 2015 United States Aetna United States Humana 37 39 The transaction was blocked by US Federal Judges on grounds of diminished competition and the 'irreparable harm' that would be done to the US health insurance market.[116]
37 2014 United States Omnicom[130] France Publicis 35.0 37 Proposed merger as Publicis Omnicom Group. Omnicom wanted their people to occupy the CEO, CFO and general counsel jobs. Uncertainty over the deal lead to a drop in revenue of $1.5 billion in the period.[130]
38 2014 ItalyUnited States Fiat Chrysler France Renault 35.0 35 At the end of May 2019, news broke of a potential $35 billion merger-of-equals between Renault and Fiat Chrysler, aiming to create the third largest car manufacturer. The deal aledgedly failed due to Nissan's abstaining from votes on the merger proposal, as well as the French Government's stake in Renault.[131][132][133][134][135]
39 2018 United States Comcast Corporation United Kingdom Sky plc 34.0 34 Comcast offered £17.28 per share, exceeding Fox's offer of £15.67 per share, in a blind auction set up by the UK's Takeover Panel.[53][54]
40 2019 United States Chevron Corporation United States Anadarko Petroleum 33.0 33 On April 12, Chevron Corporation announced it would acquire Anadarko for $33 billion ($65 per share, 25% in cash, $50 billion including debt).[136] However, on April 24, Occidental Petroleum Corp announced a counter-offer to Chevron's previous announcement, offering $38 billion ($76 per share, 50% in cash, $57 billion including debt) - Occidental's offer would ultimately prove successful.
41 2019 United States Xerox United States HP Inc 33.5 34 Xerox’s $33.5 billion (£25.8 billion) cash-and-stock offer to buy bigger rival HP was declined, with HP indicating it might make its own counter-offer for Xerox.[137]
42 2018 United States 21st Century Fox United Kingdom Sky plc 32.5 33 Fox raised their offer $32.5 billion for Sky.
43 2018 United States Comcast United Kingdom Sky plc 31 31 Comcast offered $31 billion for Sky plc.[138][139][140][141]
44 2002 United States Hughes Electronics Corp. United States EchoStar Communications Corp. 29 40 US and state anti-trust enforcers filed a lawsuit to halt the deal, claiming that the deal would eliminate competition and adversely effect consumers.[142]
45 2017 United States Emerson Electric United States Rockwell Automation 29 30 Rejected as Rockwell believed the offer still undervalued the company.[143]
46 2017 United States PPG Industries Netherlands Akzo Nobel 28.8 29 Akzo again rejected PPGs bid, citing the deal still undervalues the company, as well as potentially facing antitrust risks, and not addressing other concerns such as "cultural differences"
47 2017 United States Emerson Electric United States Rockwell Automation 27.6 28 Rejected as Rockwell believed the offer undervalued the company. The $27.6 billion was made up of $107.50 per share in cash and the balance being paid in 225 million shares of Emerson stock.[144][145][146]
48 2015 Netherlands Mylan Republic of Ireland Perrigo 26 27 In order for the hostile takeover to go through successfully, Mylan needed 50% of Perrigos shares to be tendered under the deal. However, only 40% or 58 million shares were tendered and the hostile takeover fell through.[147]
49 2016 Germany Deutsche Börse AG United Kingdom London Stock Exchange Group 26 27 The merger was prohibited on competition grounds by the EU Commission.[148][149][150]
50 2017 United States PPG Industries Netherlands Akzo Nobel 26 27 Akzo rejected the unsolicited offer, claiming the revised offer was still too low, Akzo claimed that key stakeholder issues as well as uncertainties and risks that had already been raised in response to earlier offers had not been answered proposal.[151]
51 2004 United States Johnson & Johnson United States Guidant 25.4 34 Johnson & Johnson announced that it was acquiring Guidant on December 15, 2004, for $76 a share, with the deal being approved later approved on April 27, 2005 by Guidant shareholders. However on May 25 of the same year, Guidant reported 26 cases of implantable defibrillator failure, including a death. Johnson & Johnson announced the possibility of them pulling out from the deal, Guidant then sued Johnson & Johnson in an attempt to enforce the acquisition. However they later re-negotiated a lower price of $21.5 billion.
52 2006 United States Boston Scientific United States Guidant 25.0 31 A day after Johnson & Johnson raised their price for Guidant to $23.2 billion, Boston Scientific announced a further increased offer.
53 2005 United States Boston Scientific United States Guidant 24.6 32 With the lower re-negotiated a lower price of $21.5 billion between Johnson & Johnson and Guidant, Boston Scientific announced an unsolicited offer of $24.6 billion for Guidant (an offer of $72 per share of Guidant, $36 in cash and a fixed number of Boston Scientific shares valued at $36 a share).
54 2006 United States Johnson & Johnson United States Guidant 24.2 30 After Boston Scientific increased their offer to $25 billion, Johnson & Johnson further increased their offer to $24.2 billion.
55 2017 United States PPG Industries Netherlands Akzo Nobel 24 25 Akzo rejected the unsolicited offer, claiming the revised offer was still too low
56 2006 United States Johnson & Johnson United States Guidant 23.2 29 After the re-negotiated a lower price of $21.5 billion was trumped by Boston Scientifics offer of $24.6 billion, Johnson & Johnson raised their offer to $23.2 billion.
57 2017 Switzerland Clariant United States Huntsman 20 20 After months of pressure from activist investors, the companies announced they would abandon their merger plans, with investors citing a reduction in shareholder value as the cause.[152]

See also[edit]

Notes[edit]

  1. ^ Verizon purchased the 45% stake in Verizon Wireless owned by Vodafone for $130 billion.[79] The deal closed on February 21, 2014, becoming the third largest corporate deal ever signed, giving Verizon Communications sole ownership of Verizon Wireless
  2. ^ Largest acquisition in brewing sector history
  3. ^ 51/49% merger with Kraft shareholders receiving $16.50 special dividend
  4. ^ Confirmed not competed
  5. ^ Deal announced, acquisition not competed
  6. ^ $49.4 billion for 57.8%, giving a total value of $84.8 billion
  7. ^ $67.1 billion with assumed debt
  8. ^ 40.5 billion = $33.75 billion in cash + $6.75 billion worth of shares
  9. ^ Sale has not been cleared by US Department of Justice so it is currently pending.
  10. ^ Second offer made

References[edit]

  1. ^ a b c d e f g "US Inflation Calculator". US Inflation Calculator. Archived from the original on 2013-10-28. Retrieved 2017-10-31.
  2. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag "Report on mergers" (PDF). www.ftc.gov. Archived (PDF) from the original on 2017-05-17. Retrieved 2017-11-22.
  3. ^ "METAL MERGER PLANNED Zinc Corp. Offer To Imperial Smelting". 9 April 1948. p. 4 – via Trove.
  4. ^ Walton, Justin (10 November 2015). "10 Most Famous Leveraged Buyouts". Archived from the original on 8 August 2018. Retrieved 8 August 2018.
  5. ^ "F.T.C. Approves Chevron-Gulf Deal". The New York Times. 25 October 1984. Archived from the original on 1 December 2017. Retrieved 22 November 2017.
  6. ^ "BP to acquire rest of Standard Oil". Chemical & Engineering News Archive. 65 (13): 5. 30 March 1987. doi:10.1021/cen-v065n013.p005a.
  7. ^ "Du Pont to swallow Conoco in record-breaking merger". 7 July 1981. Archived from the original on 1 December 2017. Retrieved 22 November 2017 – via Christian Science Monitor.
  8. ^ Potts, Mark (12 March 1984). "Mobil Agrees To Buy Superior For $5.7 Billion". Archived from the original on 1 December 2017. Retrieved 22 November 2017 – via www.washingtonpost.com.
  9. ^ "CITIES SERVICE AGREES TO OCCIDENTAL'S BID IN $4 BILLION MERGER". The New York Times. 26 August 1982. Archived from the original on 1 December 2017. Retrieved 22 November 2017.
  10. ^ a b "M&A Statistics - Worldwide, Regions, Industries & Countries". IMAA-Institute. Archived from the original on 2018-03-15. Retrieved 2017-09-06.
  11. ^ "Mannesmann to accept bid - February 3, 2000". CNN. February 3, 2000. Archived from the original on May 26, 2015. Retrieved January 2, 2016.
  12. ^ "Pfizer and Warner-Lambert agree to $90 billion merger creating the world's fastest-growing major pharmaceutical company". pfizer.ca. Archived from the original on 2 February 2014. Retrieved 22 November 2017.
  13. ^ "Exxon, Mobil mate for $80B - December 1, 1998". CNN. December 1, 1998. Archived from the original on December 26, 2015. Retrieved January 2, 2016.
  14. ^ "FINANCE: EXXON-MOBIL MERGER COULD POISON THE WELL". Archived from the original on 24 September 2015. Retrieved 28 August 2015.
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