TWENTY-FIVE LARGEST MERGERS AND ACQUISITIONS BY CORPORATIONS: 1999

CRS Report for Congress
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)
Acquirer,Value
Sector, andTarget FirmDateDate($
New Name (if applicable) and SectorAnnouncedCompletedbillions)
Vodafone AirTouch plcMannesmann AG11/13/993/31/00$180.954
Telecommunications Diversified
Pfizer Warner-Lambert 11/4/99 6/19/00 116.03
Pharmaceuticals Pharmaceuticals
Exxon Corp.Mobil Corp.12/1/9811/30/9986.361
Petroleum Petroleum
Exxon Mobil Corp.
Sumitomo Bank Ltd.Sakura Bank Ltd.10/14/994/0177.06
Banking and finance Banking and finance(projected)
SBC CommunicationsAmeritech5/11/9810/8/9972.361
Telecommunications Telecommunications
* 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

Acquirer,Value
Sector, andTarget FirmDateDate($
New Name (if applicable) and SectorAnnouncedCompletedbillions)
AT&TTelecommunications Inc. (TCI)7/28/983/9/9969.901
Telecommunications Telecommunications
Olivetti SpATelecom Italia SpA2/20/995/21/9965.044
Diversified Telecommunications
Vodafone plcAirTouch Communications, Inc.1/18/996/30/9960.295
Telecommunications Telecommunications
Vodafone AirTouch plc
AT&TMediaOne Group4/22/996/15/0056.024
Telecommunications Telecommunications
Total Fina SAElf Aquitaine7/5/9910/28/9953.545
Petroleum Petroleum
Total Fina Elf SA
Royal Bank of Scotland Group plcNational Westminster Bank plc11/29/994/25/0042.735
Banking and finance Banking and finance
Fuji Bank Ltd.Dai-Ichi Kangyo Bank Ltd.8/20/999/29/0040.106
Banking and finance Banking and finance
Mizuho Holdings, Inc.
Viacom CBS 9/7/99 5/4/00 39.434
Entertainment- Entertainment-
telecommunications telecommunications
Qwest CommunicationsUS West, Inc.7/19/9973/0038.484
Telecommunications Telecommunications
Mannesmann AGOrange, plc10/21/992/10/0032.595
Diversified Telecommunications
Fuji Bank Ltd.Industrial Bank of Japan Ltd.8/20/999/29/0030.765
Banking and finance Banking and finance
Mizuho Holdings, Inc.
BP Amoco, plcAtlantic-Richfield4/1/994/18/0026.613
Petroleum Petroleum
MonsantoPharmacia & Upjohn Inc.12/19/994/3/0025.763
Pharmaceuticals Pharmaceuticals
Pharmacia
Lucent Technologies Inc.Ascend Communications Inc.1/13/996/25/9924.133
Telecommunications Telecommunications
Clear Channel CommunicationsAMFM Inc.10/4/998/30/0023.83
Telecommunications Telecommunications
Banque Nationale de Paris SAParibas3/9/992/1/0020.33
Banking and finance Banking and finance
BNP-Paribas SA
DDI KDD 12/17/99 10/1/00 18.993
Telecommunications Telecommunications
KDDIIDO
Telecommunications
Motorola Inc.General Instrument Corp.9/15/991/6/0017.04
Electronics Electronics
* The designation “Pending” often indicates that regulatory approval needed for actual merger has not been
obtained.



Acquirer,Value
Sector, andTarget FirmDateDate($
New Name (if applicable) and SectorAnnouncedCompletedbillions)
VEBA AGVIAG AG9/1/996/21/00114.03
Diversified utility Diversified utility
E.ON AG
Diversified utility
Deutsche Bank AGBankers Trust Corp.11/30/986/4/9910.14
Banking and finance Banking and finance
* 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.