Morgan Stanley Receives Numerous Institutional Investor Deal Awards
America Online and Netscape Communications Corp.: $4.2 billion: "the first great Internet merger."
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Americas: Mergers and Acquisitions
America Online and Netscape Communications Corp.: $4.2 billion: "the first great Internet merger."
"In a year in which $30 billion mergers barely made the top ten list of transactions, a relatively modest acquisition may yet turn out to be the most historic, most farsighted deal of all
Since the acquisition was announced on November 24, Internet pundits have crowed about the boost the merger will give to e-commerce, the nascent but potentially explosive business of selling everything from stocks to socks on the Internet."
America International Group and SunAmerica: $17.8 billion
"The merger, the second largest in insurance last year, creates a formidable player in the global financial services arena, combining Sun's 9,500-plus U.S. brokers, $2.5 billion in mutual fund assets under management and $2.1 billion in revenues with AIG's triple-A credit rating and 115,000 agents in 130 countries
There's competitors in every one of the businesses we're in, but many don't have the global reach we do,' says [Hank] Greenberg," AIG's CEO.
Amoco Corp. and British Petroleum Co.: $53.5 billion
The merger of Amoco and BP "turned two second-tier oil companies into one of three 'supermajors' in the world
By combining, BP, advised by J.P. Morgan and Merrill Lynch & Co., and Amoco, advised by Morgan Stanley, expect to create economies of scale enabling them to save an estimated $2 billion a year."
HBO Co. and McKesson Corp.: $14.1 billion
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In a new deal, announced October 18, McKesson will buy HBOC in an all-stock deal in which each HBOC shareholder will receive 0.37 shares of McKesson common stock for each HBOC share making it a $14.1 billion deal, including the assumption of debt."
Polygram and Seagram Co.: $10.4 billion
International: Mergers and Acquisitions
British Petroleum and Amoco: $53.5 billion
"'With the Dow back at 9,000, a benign interest rate environment and a flow of rumored transactions, the markets are poised for a period of high activity,' says Simon Robey, managing director for European M&A at Morgan Stanley in London." The BP-Amoco merger is an illustration of the fact that "companies across Europe are feeling the urge to merge."
Fortis and Generals de Banque: $14.2 billion
"Financial services group Fortis's $14.2 billion acquisition of Belgium's Générale de Banque made history in several ways. The deal is emblematic of the upheaval taking place in the European financial services industry, as banks try to slim down and prepare for increased competition."
Deutsche Bank and Bankers Trust Corp. : $10.1 billion
"This takeover, ratified by both boards in the first days of December, was noteworthy for its daring alone, given the German bank's speckled history of foreign acquisitions. BT shareholders will cash out at a considerable premium."
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