Largest Mergers and Acquisitions by Corporations in 2007

Largest Mergers and Acquisitions by
Corporations in 2007
February 14, 2008
John Williamson
Information Research Specialist
Knowledge Services Group

Largest Mergers and Acquisitions by
Corporations in 2007
Mergers and acquisitions (M&A) activity has continued to increase, and has
grown in each of the past four years. This reports provides a listing of the largest
M&A transactions worldwide (value equivalent to US$ 2.0 billion or more) that were
proposed during 2007. The report includes the dates on which transactions were
completed and showing M&A deals that were still pending as of December 31, 2007.
These data have been drawn from publicly available sources and have not been
otherwise verified by CRS. This report will not be updated.

In troduction ......................................................1
CRS Reports....................................................14
List of Tables
Table 1. Largest Mergers and Acquisitions in 2007.......................1

Largest Mergers and Acquisitions by
Corporations in 2007
Mergers and acquisitions (M&A) activity has continued to increase in each of
the past four years. Table 1 provides a listing of the largest M&A transactions
worldwide (value equivalent to $2.0 billion or more) that were announced in 2007.
The table includes the dates on which transactions were completed, as well as
showing M&A deals that were still pending as of December 31, 2007. These data
have been drawn from publicly available sources and have not been otherwise
verified by CRS.
Table 1. Largest Mergers and Acquisitions in 2007
(ranked by value; all amounts cited are in billions of U.S. dollars)
Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Royal Bank of Scotland PLCABN Amro Holding NV4/25/0710/10/0795.5c
Santander Central Hispano SA Banking and finance
Fortis SA/NV
Banking and finance
Barclays PLCABN Amro Holding NV3/19/07Outbid93.34a
Banking and finance Banking and finance
Ontario Teachers Pension PlanBCE Inc.6/30/07Pending48.5a
Providence Equity Partners Inc. Telecommunications
Madison Dearborn Partners
Transocean Inc.GlobalSantaFe Corp.7/23/0711/27/0748.0a
Offshore drilling Offshore drilling
Vornado Realty TrustEquity Office Properties Trust2/1/07Outbid39.0a
Real estate Real estate2/7/07
Rio Tinto Group PLCAlcan Inc.7/12/0711/14/0738.1c
Mining Aluminum
Enel SpAEndesa SA3/26/0710/8/0731.2c
Acciona SA Electricity generator
Essent N.V.Nuon N.V.2/1/07Abandoned31.0b
Utility Utility9/7/07
EssentNuon N.V.
UniCredit SpACapitalia SpA5/20/079/18/0729.72a
Banking and finance Banking and finance
Alcoa Inc.Alcan Inc.5/7/07Outbid26.9c
Aluminum Aluminum
Blackstone GroupHilton Hotels Corporation7/3/0710/27/0726.0b

Investor Lodging

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Kohlberg Kravis Roberts & Co.First Data Corp.4/2/079/24/0725.6c
Investors Credit card processor
J.C. Flowers Student Loan Marketing Corp.4/16/07Withdrawn25.0b
J.P. Morgan Chase & Co. Student loans12/12/07
Bank of America Corp.
Goldman Sachs Group Inc.Alltel Corp.5/21/0711/16/0724.7c
TPG Inc. Telecommunications
Delta TwoJ. Sainsbury PLC7/18/07Withdrawn24.5b
Qutari investors Grocery retailer11/4/07
Stefano PessinaAlliance Boots PLC4/16/076/26/0722.067b
Co-Chairman Alliance-Boots Drugstore operator
Kohlberg Kravis Roberts & Co.
Dolan familyCablevision Corp.5/2/07Rejected22.0b
(Founders of Cablevision) Cable TV operator, athletic team 10/24/07
Merrill Lynch & Co. owner, Madison Sq. Garden
Bear, Stearns & Co.
Bank of America
Terra Firma Capital Partners Ltd.Alliance Boots PLC4/20/07Outbid21.8c
Wellcome Trust Drugstore operator4/24/07
Bank of America Corp.LaSalle Bank (div. ABN Amro)4/23/0710/1/0721.0c
Banking and finance Banking and finance
Blackstone Group LPSLM Corp.4/13/07Outbid20.0c
Investor Student loans4/16/07
Thomas H. Lee Partners LPClear Channel Communications5/18/07Pending19.5c
Bain Capital Partners LLC Inc.
Investors Communications
Vodafone PLCHutchison Essar Ltd.2/10/075/4/0719.0b
Mobile phone operator Mobile phone operator
Wesfarmers Ltd.Coles Group Ltd.7/2/0711/23/0718.6a
Conglomerate Supermarkets
SABMiller PLCScottish & Newcastle Breweries4/22/07Pending18.0b
Diageo PLC PLC
Alcoholic beverages Alcoholic beverages
Imperial Tobacco Group PlcAltadis SA3/15/07Pending17.9a
Tobacco Tobacco
Resolution PLCFriends Provident PLC7/25/07Rejected17.72a
Closed fund consolidator Life insurance11/15/07
Friends Financial Group PLC
Thomson Corp.Reuters Group PLC5/8/07Pending17.55a
Information Information
T ho mso n-Re ut e r s
CVC Capital Partners Ltd.Altadis SA5/4/07Outbid17.4c
PAI Partners Tobacco7/18/07
Groupe Danone SARoyal Numico NV7/9/07Pending16.8a

Conglomerate Baby food maker

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Akzo Nobel NVImperial Chemical Industries Plc7/30/071/2/0816.0c
Henkel KGaA Chemicals
HeidelbergCement AGHanson PLC5/14/078/1/0715.8a
Cement Building materials
OMV AGMol Nyrt9/25/07Pending15.7c
Oil Refineries and pipelines
Continental AGSiemens VDO7/25/0712/3/0715.67a
Auto parts Auto parts
AstraZeneca PlcMedImmune Inc.4/23/076/19/0715.2c
Pharmaceuticals Pharmaceuticals
Schering-Plough Inc.Organon Biosciences 3/12/0711/19/0715.0b
Pharmaceuticals (div. Akzo Nobel NV)
Unibail Holding Co. SARodamco Europe NV4/10/076/21/0715.0c
Real estate investment trust Shopping center owner
Tishman Speyer Properties Inc.Archstone-Smith Trust 5/29/0710/5/0713.5c
Lehman Brothers Holdings Inc. Real estate
Real estate
Banca Monte dei Paschi di SienaBanca Antonveneta SpA11/7/07Pending13.2c
SpA Banking and finance
Banking and finance
LaFarge SAOrascom Cement12/10/07Pending12.9c
Building materials Cement
Allianz SEAssurances Generales de France SA1/18/074/30/0712.7c
Insurance Insurance
Len BlavatnikLyondell Chemical7/17/0712/20/0712.66a
Investor Chemicals
Saga Ltd.Automobile Association Ltd.6/25/079/26/0712.4c
(Owned by Charterhouse (Owned by Permira Advisers LLP
Capital Partners LLP)and CVC Capital Partners Ltd.)
Automobile Association Ltd.
(To be 38% Charterhouse, Permira
and CVC 43%, and management
Blackstone Group LPBiomet Inc.6/7/079/25/0711.4c
Kohlberg Kravis Roberts & Co. Orthopedic implants
TPG Capital Group
Goldman Sachs Group Inc.
Private Equity Div.
Saudi Basic Industries Corp.GE Plastics Division5/18/078/31/0711.0c
World’s largest chemical Plastics manufacturer
Cerberus RAG6/14/07Pending11.0b
Investor Conglomerate
Carlyle GroupVirgin Media, Inc.7/2/07Cancelled10.8c
Investor Pay-tv operator9/14/07
Apollo Management LPHuntsman 7/12/07Pending10.79a
Investor Chemicals
Pearl Group LimitedResolution PLC11/14/072/4/0810.22a

Closed fund consolidator Closed fund consolidator(projected)

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Ingersoll-Rand Co.Trane Inc.12/15/07Pending10.1a
Conglomerate Air conditioning
Taylor Woodrow PlcGeorge Wimpey Plc3/26/077/6/079.8c
House builder House builder
Vivendi SAActivision Inc. (52%)12/1/07Pending9.8c
Conglomerate Software
Access Industries Holdings LLCHuntsman Corp.6/26/07Outbid9.58c
Holding company Chemicals7/12/07
Kuwait Petrochemical IndustriesDow Chemical Co., plastics div.12/13/07Pending9.5c
Co. (50% Joint venture)
Petrochemicals Plastics
Sacyr Vallehermoso SAEiffage SA4/19/07Pending8.8c
Construction Construction
Toronto-Dominion BankCommerce Bancorp Inc.10/2/07Pending8.7a
Banking and finance Banking and finance
Bain Capital LLCHome Depot wholesale division6/19/078/30/078.5a
Carlyle Group LP Building supplies
Clayton, Dubilier & Rice, Inc.
Sam ZellTribune Co.3/28/0712/20/078.2a
Investor Publishing, broadcasting, sports
Tribune ESOP
Employee ownership fund
TPG Capital LLCAvaya Inc.6/4/0710/26/078.2a
Silver Lake Partners Telecommunications equipment
GEAbbot Laboratories Inc.1/18/07Abandoned8.13a
Conglomerate In-vitro diagnostics div.7/12/07
Point-of-Care diagnostics div.
Nokia OyjNavteq Corp.10/1/07Pending8.1c
Telecom equipment Mapping software
Ron BurkleTribune Co.3/30/07Outbid8.0c
Eli Broad Publishing, broadcasting, sports4/2/07
Kohlberg Kravis Roberts & Co.Harman International Industries Inc.4/26/07Abandoned8.0c
Goldman Sachs Group Inc. Audio equipment manufacturer10/22/07
Hypo Real Estate Holding AGDepfa Bank Plc7/23/0710/4/077.9c
Real estate lender Government lender
Blackstone Group LLPAlliance Data Systems Corp.5/17/07Pending7.86c
Investor Credit card processor
Apax PartnersThomson Learning (div. Thomson)5/11/077/5/077.75a
OMERS Capital PartnersNelson Canada (educational
Investors publisher)
Simon Property Group, Inc.Mills Corp.2/4/077/2/077.71a
Real estateThe Mills Limited Partnership
Farallon Capital Management Real estate
Citigroup Inc.Nikko Cordial Corp. (61%)4/27/071/29/087.7c

Banking and finance Brokerage(projected)

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Svenskt Stal ABIPSCO Inc.5/3/077/18/077.66a
Steel Steel
Banca Popolare di Milano ScrlBanca Popolare dellEmiglia5/21/07Abandoned7.61c
Banking and finance Romagna Scrl6/27/07
Banking and finance
Brookfield Asset ManagementMills Corp.1/17/07Outbid7.5a
Inc.The Mills Limited Partnership2/4/07
Real estate Real estate
National Oilwell Varco Inc.Grant Prideco12/17/07Pending7.5a
Oil equipment Oil equipment
Cerberus Capital ManagementChrysler Motors (80.1%)5/14/078/3/077.4a
Investor Automobile manufacturer
SP AusnetSingapore Power9/20/07Pending7.4c
Utilities Utilities
Madison Dearborn Partners LLCCDW Corp.5/29/0710/12/077.3c
Investor Tech equipment seller
MetroPCS Communications Inc.Leap Wireless International Inc.9/4/07Abandoned7.27a
Telecommunications Telecommunications11/1/07
Kraft Foods Inc.LU div. Danone S.A.7/1/0712/2/077.2b
Conglomerate Biscuits
PPR SAPuma AG4/10/077/17/077.1c
Retail holding company Sporting goods manufacturer
Clayton, Dubilier & RiceUS Foodservice (div. Ahold NV)5/2/077/3/077.1b
Kohlberg Kravis Roberts & Co. Food products distribution
Babcock & Brown Ltd.Alinta Ltd.3/5/07Pending7.0c
Singapore Power Ltd. Electricity and gas distributor
Energy companies
Siemens AGDade Behring Inc.7/25/0711/6/077.0a
Conglomerate Laboratory diagnostics
Community Health Systems Inc.Triad Hospitals Inc.3/19/077/25/076.8a
Health care provider Health care provider
Wachovia Corp.A.G. Edwards Inc.5/31/0710/1/076.8c
Banking and finance Stockbroker
SAP AGBusiness Objects SA10/7/07Pending6.8b
Business software Software
Macquarie InfrastructurePuget Energy Inc.10/26/07Pending6.7a
Partners Utility holding company
British Columbia Investment
Management Corp.
Alberta Investment Management
Macquarie-FSS Infrastructure
Macquarie Bank Ltd.
Oracle Corp.BEA Systems Inc.10/12/07Pending 6.66a
Software Software
Mylan Laboratories Inc.Merck KGaA generic drug division5/14/0710/2/076.6a
Pharmaceuticals Pharmaceutical
Vivendi SANeuf Cegetel SA 12/20/07Pending 6.4c

Conglomerate Telecommunications

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Carlyle Group Inc.Manor Care Inc.7/2/0712/21/076.3a
Investor Nursing-home operator
Citigroup Inc.Kelda Group Plc11/26/07Pending6.3c
HSBC Holdings Plc Water
GIC Special Investments Pte
Prudential Infracapital Partners
Marathon Oil Corp.Western Oil Sands Inc.7/31/0710/18/076.21a
Petroleum Petroleum
Fortress Investment Group LLCPenn National Gaming Inc.6/15/07Pending6.1c
Centerbridge Partners LP Casino and race track operator
JP Morgan, Chase & Co.United Utilities Plc11/23/07Pending6.02c
Commonwealth Bank of power distribution division
Darwin DeasonAffiliated Computer Services Inc.3/20/07Withdrawn6.0a
(Founder ACS Inc.) IT provider10/30/07
Cerberus Capital Management
Microsoft Corp. Inc.aQuantive Inc.5/18/078/10/076.0a
Software Online advertising agency
Macquarie Bank Ltd.Alinta Ltd.3/26/07Pending5.9c
ABN Amro Holding NV Electricity and gas distributor
Madison Dearborn Partners LLCNuveen Investments Inc.6/20/0711/13/075.75a
Merrill Lynch & Co. Asset management
Wachovia Corp.
Citigroup Inc.
Deutsche Bank AG
Morgan Stanley
Carlyle GroupAllison Transmission6/28/078/8/075.6a
Onex Corp. (Div. GM)
Telefónica SAOlimpia SpA4/28/0710/23/075.6c
Telecommunications(owner of Telecom Italia SpA)
Assicurazioni General SpA Telecommunications
Intesa Sanpaolo SpA
Mediobanca SpA
Banking and finance
Benetton family
News Corp.Dow Jones & Co.8/01/0712/14/075.6a
Conglomerate Publishing
Industrial & Commercial BankStandard Bank Group Ltd. (20%)10/25/072/085.6c
of China Ltd. Banking and finance(projected)
Banking and finance
Nestlé SAGerber Products Co.4/11/079/3/075.5a
Conglomerate Infant products
Carl IcahnLear Corp.2/5/07Rejected5.3c

Investor Automotive supplier7/16/07

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
PermiraAtos Origin SA3/15/07Rejected5.3b
Investor IT provider7/14/07
Ce nta ur us
Hedge fund
Royal Philips Electronics NVRespironics Inc.12/21/07Pending5.2c
Conglomerate Medical equipment maker
Randstad Holding NVVedior NV12/3/07Pending5.14c
Personnel staffing Personnel staffing
BC Partners Ltd.Intelsat Ltd.6/19/07Pending5.03
Investors Commercial satellite operator
Macquarie Bank Ltd.National Grid Wireless Plc4/3/07Pending5.0c
Investor Wireless network provider
Arqiva (Macquarie
Communications Infrastructure
Abu Dhabi National Energy Co.PrimeWest Energy Trust9/24/0711/20/075.0c
Energy Petroleum
Doosan Infracore Co.Bobcat div. Ingersoll-Rand7/29/0711/30/074.9a
Conglomerate Construction machinery
International Business MachinesCognos Inc.11/12/07Pending4.9a
Inc. Software provider
Information technology
General Electric Inc.Smiths Aerospace1/15/075/4/074.8a
Conglomerate(div. Smiths Group Plc).
Aem SpAASM Brescia SpA6/4/07Pending4.8c
Utility Utility
CCMP Capital AdvisorsTriad Hospitals Inc.2/5/07Outbid4.7a
GS Capital Partners Hospital operator3/19/07
Clayton, Dubilier & Rice Inc.ServiceMaster Co.3/19/077/24/074.7c
Investor Service provider
Terra Firma Capital PartnersEMI Group Plc5/21/079/18/074.7c
Ltd. Music
Voestalpine AGBoehler-Uddeholm AG3/29/079/6/074.69c
Steel Steel
T. Ananda KrishnanMaxis Communications Bhd5/3/07Pending4.6c
Investor (who will sell to) Mobile telecommunications
Binariang GSM Sdn
Holding company (controlled
by Mr. Krishnan)
John de MolEndemol NV (75%)5/14/077/3/074.6c
MediaSet SpA Television programming producer
Goldman Sachs
Edam Acquisition
Hindalco Industries Ltd.Novelis Inc.2/12/075/15/074.57a
Aluminum maker Aluminum roller
State Street Corp.Investors Financial Services Corp.2/5/077/2/074.5a

Banking and finance Banking and finance

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Bjorgolfur Thor BjorgolfssonActavis Group hf5/10/077/25/074.5c
Investor, Chairman of Activis Generic drugmaker
Berkshire Hathaway Inc.Marmon Holdings Inc. (60%)12/26/07Pending4.5c
Holding company Holding company
ProSiebenSat.1MediaSBS Broadcasting6/27/076/30/074.4b
Broadcasting Broadcasting
Fiserv Inc.CheckFree Corp.8/2/0712/4/074.4a
Technology services Electronic bill-paying
Barrett Developments PlcWilson Bowden Plc2/5/07Pending4.3a
Homebuilder Builder
Mitsubishi Chemical HoldingsTanabe Seiyaku Co.2/2/0710/1/074.3c
Corp. Pharmaceuticals
Chemicals and
Rexel SAHagemeyer NV10/25/07Pending4.29c
Electrical equipment Electrical equipment
Sonepar SA
Electrical equipment
OAO GMK Norilsk NickelLionOre Mining International Ltd.5/3/0710/5/074.28
Nickel producer Mining
Gerdau Ameristeel Corp.Chaparral Steel Co.7/10/079/16/074.22a
Steel Steel
TomTom NVTele Atlas NV7/23/07Pending4.2c
Navigation devices Digital mapping
OAO VimpelComGolden Telecom Inc.12/3/07Pending4.2c
Mobile phone Telecommunications
BAE Systems PlcArmor Holdings Inc.5/7/077/31/074.14c
Military contractor Armoring for vehicles
Advanced Medical OpticsBausch & Lomb Inc.7/6/07Outbid4.1a
Optics Optics

Coca-Cola Co.Energy Brands Inc.5/25/076/7/074.1c
Beverage maker Enhanced water maker
Borse DubaiOMX AB8/17/072/084.02a
Stock exchange Stock exchange(projected)
Petróleo Brasileiro S.A.Companhia Brasileira de Petróleo3/19/074/18/074.0b
Petroleum (state-controlled)Ipiranga
Braskem S.A. Petroleum
Ultrapar S.A. (Grupo Ultra)
Xstrata PlcLionOre Mining International Ltd.3/26/07Outbid4.0c
Mining Mining
Loews Corp.Dominion Resources oil and gas6/4/077/31/074.0
Holding companyproperties in west Texas, Alabama,
HighMount Exploration andand Michigan
Production LLC
Houghton Mifflin RiverdeepReed-Elsevier PLC’s divisions:7/16/0712/13/074.0a

PLCHarcourt Education
PublishingHarcourt Trade
Gr eenwood-Heinemann

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Cerberus Capital ManagementUnited Rentals Inc.7/22/07Cancelled4.0a
Investor Equipment rental12/24/07
Kaupthing Bank nfNIBC Holding NV8/15/07Pending4.0c
Banking and finance Banking and finance
Power Financial Corp.,Marsh & McLennan Corp.,2/1/078/6/073.9a
Great-West Lifeco Inc. (div.)Putnam Investments (div.)
Money manager Money manager
Morgan StanleyInvesta Property Group, Ltd.5/31/078/22/073.9c
Investor Real estate
Medtronic Inc.Kyphon Inc.7/27/0711/19/073.9c
Medical devices Medical devices
Eisai Co. KKMGI Pharma Inc.12/10/07Pending3.9c
Pharmaceuticals Pharmaceuticals
Douglas BeckerLaureate Education1/28/078/17/073.8n
(Founder and CEO of Laureate) Private university operator
Kohlberg Kravis Roberts & Co.
Citigroup Private Equity
SAC Capital
SPG Partners
Bregal Investments
Caisse de depot et placement du
Sterling Capital
Makena Capital
T o rreal
Southern Cross Capital
Teck Cominco Ltd.Aur Resources Inc.7/3/078/30/073.79c
Zinc producer Copper producer
Wallenberg Family’s InvestorMoelnlycke Health Care AB 1/26/07Pending3.7c
AB Medical supplies
Morgan Stanley Co. Principal
Nasdaq Stock Market Inc.OMX AB5/25/07Outbid3.7c
Stock exchange Stock exchange operator
Warburg, Pincus LLCBausch & Lomb Inc.5/16/0710/28/073.67c
Investors Eye-products maker
FirstGroup PlcLaidlaw International Inc.2/9/0710/1/073.6c
Bus and train operator Bus operator
Flextronics International LtdSolectron Corp.6/4/0710/1/073.6c
Electronics manufacturing Electronics manufacturing
Plains Exploration andPogo Producing Co.7/17/0711/6/073.6a
Production Company Oil and gas
Oil and gas
Eni SpABurren Energy Plc11/30/071/10/083.6c
Oil and gas Oil and gas(projected)
Siemens AGUGS Corp.1/24/075/7/073.5a
Conglomerate Software maker
Fortress Investment Group LLCFlorida East Coast Industries, Inc.5/8/0710/29/073.5a
Investor Railroad and real estate
Permira Advisers LLPValentino Fashion Group Sp.A. 5/16/079/20/073.5c

Investors Fashion

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Colony CapitalTamoil (65%)6/6/07Pending3.5b
Investor Refining and retailing
Iberdrola S.A.Energy East Inc.6/25/07Pending3.5b
Utility Utility
CVC Capital PartnersUnivar NV7/9/0711/19/073.5a
Investors Chemicals distributor
GLG Partners LPFreedom Acquisition Holdings Inc.6/25/0711/2/073.4c
Hedge fund manager Private equity manager
GLG Partners Inc.
Oracle Corp.Hyperion Solutions Corp.3/1/074/18/073.3a
Software Software
Garmin Ltd.Tele Atlas NV10/31/07Bid3.3a
Car-navigation devices Digital mapmakerwithdrawn
Macquarie CommunicationsAirwave4/19/074/21/07 3.2c
Infrastructure Group Emergency radio services
Macquarie European provider
Infrastructure Fund II
PPG Industries Inc.SigmaKalon Group7/20/071/2/083.2b
Coatings Coatings
MBK Partners Ltd.C&M8/3/0711/30/073.2c
Macquarie Bank Cable tv operator
Macquarie Korea Fund
SXR Uranium One Inc.UrAsia Energy Ltd.2/12/074/20/073.12a
Uranium miner Uranium miner
Uranium One Inc.
Centro Properties GroupNew Plan Excel Realty Trust Inc.3/1/074/20/073.1a
Real estate Real estate investment trust
Centro Retail Trust
Investment trust
Google Inc.DoubleClick Inc.4/13/07Pending3.1a
Internet Internet ad services
TUI AGFirst Choice Holidays Plc3/19/079/3/073.0c
Tour operator Vacation provider
Roche Holdings AGVentana Medical Systems Inc.6/25/07Pending3.0a
Pharmaceuticals Diagnostic products
Saudi Telecom Co.Maxis Communications Bhd (25%)6/26/07Pending3.0c
Telecommunications Telecommunications
Cie. de Saint-Gobain SAMaxit div. HeidelbergerCement AG8/7/07Pending2.94c
Building mateirals Mortar
Merrill Lynch & Co.Resona Holding Inc.4/25/077/17/072.9a
Investment bank Banking and finance
Health Care Property InvestorsSlough Estates USA6/4/078/1/072.9b
Real estate Segro Plc U.S. real estate holdings
Real estate
Altria Group, Inc.John Middleton, Inc.11/1/0712/11/072.9a
Tobacco Cigarmaker
Apollo ManagementClaire’s Stores Inc.3/20/075/29/072.8a

Investor Retail jeweler

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Canada Pension Plan InvestmentAuckland International Airport Ltd.6/18/07Rejected2.8c
Board Airport operator12/18/07
AT&T Inc.Dobson Communications Corp.6/29/0711/15/072.8a
Telecommunications Telecommunications
Ralcorp Holdings Inc.Post Cereals div., Kraft Foods Inc.11/5/07Pending2.8a
Cereal maker Food company
Macrovision Corp.Gemstar-TV Guide International12/7/07Pending2.8c
Software Inc.
Interactive program listings
Morgan Stanley & Co.Crescent Real Estate Equities Co.5/22/078/3/072.78c
Investor Real estate investment trust
Jerry MoyesSwift Transportation Inc.1/19/075/10/072.74
(Founder and former CEO) Trucking
Carlyle Group Inc.Sequa Corporation7/9/07Pending2.7a
Investor Aerospace and automotive parts
China National Chemical Corp.Nufarm Ltd.11/2/07Pending2.7c
Chemicals Agricultural chemicals
Royal Philips Electronics NVGenlyte Group Inc.11/26/07Pending2.7c
Conglomerate Lighting fixture manufacturer
RankAlcoa - packaging division12/21/07Pending2.7c
Packaging Packaging
ING NVOyak Bank6/19/07Pending2.67b
Banking and finance Banking and finance
Verizon WirelessRural Cellular Corp.7/30/07Pending2.67a
Telecommunications Telecommunications
Hellman & Friedman LLCGoodman Global Inc.10/22/07Pending2.65c
Investors Air conditioning
CommScope Inc.Andrew6/27/0712/27/072.6a
Telecom equipment Telecom equipment
Limak ASSabiha Gokcen Airport7/10/077/10/072.6c
GMR Infrastructure Ltd. Airport
Malaysia Airports Holding Bhd
Kirin Holdings Co.National Foods11/7/07Pending2.6c
Beverages Beverages
Onex Corp.Kodak medical imaging div.1/10/065/1/072.553
Investor Medical imaging
Areva SAUraMin Inc.6/15/078/21/072.5c
Nuclear plant builder Uranium mining
Morgan Stanley & Co.All Nippon Airways ANA Hotels4/13/07Pending2.4c
Investor Hotels
Deutsche Telekom AGSunCom Wireless Holdings, Inc.9/27/074/082.4c
Telecommunications Telecommunications(projected)
Guardian Media Group PlcEmap Plc12/21/07Pending2.38a

Publishing Business to business
Apax Partners Worldwide LLP

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
SNS Reaal Groep NVAXA Nederland BV6/4/07Pending2.35c
Financial services Winterthur Verzekerningen
Holding BV`
DBV Holding NV
Hercules Offshore Inc.Todco3/19/077/12/072.3c
Oil and gas driller Oil and gas driller
Heinrich Bauer Verlag KGEmap Plc consumer magazines div.12/7/07Pending2.3c
Publishing and radio stations
Publishing & broadcasting
Reckitt Benckiser PlcAdams Respiratory Therapeutics12/10/07Pending2.3c
Conglomerate Inc.
Over-the-counter drugs
Silver Lake PartnersAcxiom Corp.5/16/07Cancelled2.24c
ValueAct Capital Partners LP Computer and database service10/1/07
Eaton Corp.Moeller Group AG12/20/07Pending2.23a
Conglomerate Electrical supplies
Sulzer A.G.Bodycote International Plc.4/27/07Rejected2.2c
Industrial pump maker Metal-treatment
Blackstone Group LPTen Network Holdings Ltd.5/3/07Rejected2.2c
Carlyle Group Television broadcaster
Bain Capital Partners LLC3Com Corp.9/28/07Pending2.2a
Investors Telecommunications equipment
Huawei Technologies Co.
Medi-Clinic Corp.Hirslanden Holdings8/2/0710/26/072.2c
Hospital owner Medical clinic operator
Advantage Partners LLCTokyo Star Bank Ltd.12/21/07Pending2.2c
Investors Banking and finance
US Steel Corp.Lone Star Technologies, Inc.3/29/076/14/072.1c
Steel Steel pipemaker
Apollo Management LPCountrywide Plc4/12/07Pending2.1c
Investor Real estate broker
Luxxo t i c a Oakley 6/21/07 11/26/07 2.1c
Eyewear, conglomerate Eyewear
Bain Capital Partners LLCGuitar Center Inc.6/27/0710/9/072.1a
Investor Retailer
IHOP Corp.Applebee’s International Inc.7/16/0711/29/072.1a
Casual dining Casual dining
Eugene Corp.Himart Co.12/10/07Pending2.1c
Building materials Electronics retailer
CandoverStork NV6/19/07Pending2.08b
Investor Conglomerate
Cerberus Capital ManagementStora Enso Oyj 9/21/0712/21/072.07c
LP North American div.
Investor Papermaker
Steinhoff International HoldingsJD Group Ltd.3/16/07Rejected2.0c

Ltd. Furniture retailer5/29/07
Furniture maker

Acquirer, Sector, andTarget Firm and SectorDateDateValue
New Name (if applicable)AnnouncedCompleted($ billions)
Statoil ASANorth American Oil Sands Corp.4/27/076/25/072.0c
Oil company (Government- Oil developer
Ceva Group PlcEGL Inc.5/24/078/2/072.0c
(div. Apollo Management LP) Transport
XTO Energy Inc.Dominion Resources properties in6/4/077/31/072.0
Oil and gasUtah, New Mexico, southern
Colorado, and Louisiana
Deutsche Telekom AGOrange Netherlands 6/7/079/28/072.0c
Telecommunications (div. France Telecom SA)
Teleflex Inc.Arrow International Inc.7/23/0710/1/072.0a
Conglomerate Medical supplies
Platinum EquityRyerson Inc.7/24/0710/19/072.0a
Investor Metals processor
Katanga Mining Ltd.Nikanor Plc11/7/07Pending2.0c
Mining Mining
Sources: Mergerstat Online []; Mergers & Acquisitions Magazine, various issues; The Wall
Street Journal, various dates; The Financial Times, various dates; announcement and closing dates from The Wall Street
Journal or The Financial Times, various dates.
Notes: 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 companys stock changes; values are shown
in U.S. dollars. U.S. dollar value can fluctuate with changes in exchange rates.
a. Source for value: The Wall Street Journal.
b. Source for value: The Financial Times.
c. Source for value:
The designationPending often indicates that regulatory approval needed for actual merger has not been obtained.

CRS Reports
For past years, see the following reports:
CRS Report RL33906, Largest Mergers and Acquisitions by Corporations, 2006, by John
CRS Report RL33329, Largest Mergers and Acquisitions by Corporations: 2005, by John
CRS Report RS21726, Largest Mergers and Acquisitions by Corporations: 2004, by John
CRS Report RS21415, Largest Mergers and Acquisitions by Corporations: 2003, by John
CRS Report RS21147, Largest Mergers and Acquisitions by Corporations: 2002, by John
CRS Report RS20804, Twenty-five Largest Mergers and Acquisitions by Corporations: 2001, by
John Williamson.
CRS Report RS20504, Twenty-five Largest Mergers and Acquisitions by Corporations: 2000, by
John Williamson.
CRS Report RS20503, Twenty-five Largest Mergers and Acquisitions by Corporations: 1999, by
John Williamson.
CRS Report RS20502, Twenty-five Largest Mergers and Acquisitions by Corporations: 1998, by
John Williamson.