For other versions of this document, see http://wikileaks.org/wiki/CRS-RL34375 ------------------------------------------------------------------------------ Order Code RL34375 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 Summary 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. Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 CRS Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 List of Tables Table 1. Largest Mergers and Acquisitions in 2007 . . . . . . . . . . . . . . . . . . . . . . . 1 Largest Mergers and Acquisitions by Corporations in 2007 Introduction 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 $2.0 billion or more) that were announced in 2007. The table includes the dates on which transactions were completed, as well as showing M&A deals that were still pending as of December 31, 2007. These data have been drawn from publicly available sources and have not been otherwise verified by CRS. Table 1. Largest Mergers and Acquisitions in 2007 (ranked by value; all amounts cited are in billions of U.S. dollars) Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Royal Bank of Scotland PLC ABN Amro Holding NV 4/25/07 10/10/07 95.5c Santander Central Hispano SA Banking and finance Fortis SA/NV Banking and finance Barclays PLC ABN Amro Holding NV 3/19/07 Outbid 93.34a Banking and finance Banking and finance Ontario Teachers Pension Plan BCE Inc. 6/30/07 Pending 48.5a Providence Equity Partners Inc. Telecommunications Madison Dearborn Partners Investors Transocean Inc. GlobalSantaFe Corp. 7/23/07 11/27/07 48.0a Offshore drilling Offshore drilling Vornado Realty Trust Equity Office Properties Trust 2/1/07 Outbid 39.0a Real estate Real estate 2/7/07 Rio Tinto Group PLC Alcan Inc. 7/12/07 11/14/07 38.1c Mining Aluminum Enel SpA Endesa SA 3/26/07 10/8/07 31.2c Acciona SA Electricity generator Utilities Essent N.V. Nuon N.V. 2/1/07 Abandoned 31.0b Utility Utility 9/7/07 EssentNuon N.V. UniCredit SpA Capitalia SpA 5/20/07 9/18/07 29.72a Banking and finance Banking and finance Alcoa Inc. Alcan Inc. 5/7/07 Outbid 26.9c Aluminum Aluminum Blackstone Group Hilton Hotels Corporation 7/3/07 10/27/07 26.0b Investor Lodging CRS-2 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Kohlberg Kravis Roberts & Co. First Data Corp. 4/2/07 9/24/07 25.6c Investors Credit card processor J.C. Flowers Student Loan Marketing Corp. 4/16/07 Withdrawn 25.0b J.P. Morgan Chase & Co. Student loans 12/12/07 Bank of America Corp. Investors Goldman Sachs Group Inc. Alltel Corp. 5/21/07 11/16/07 24.7c TPG Inc. Telecommunications Investors Delta Two J. Sainsbury PLC 7/18/07 Withdrawn 24.5b Qutari investors Grocery retailer 11/4/07 Stefano Pessina Alliance Boots PLC 4/16/07 6/26/07 22.067b Co-Chairman Alliance-Boots Drugstore operator Kohlberg Kravis Roberts & Co. Investors Dolan family Cablevision Corp. 5/2/07 Rejected 22.0b (Founders of Cablevision) Cable TV operator, athletic team 10/24/07 Merrill Lynch & Co. owner, Madison Sq. Garden Bear, Stearns & Co. Bank of America Lenders Terra Firma Capital Partners Ltd. Alliance Boots PLC 4/20/07 Outbid 21.8c Wellcome Trust Drugstore operator 4/24/07 Investors Bank of America Corp. LaSalle Bank (div. ABN Amro) 4/23/07 10/1/07 21.0c Banking and finance Banking and finance Blackstone Group LP SLM Corp. 4/13/07 Outbid 20.0c Investor Student loans 4/16/07 Thomas H. Lee Partners LP Clear Channel Communications 5/18/07 Pending 19.5c Bain Capital Partners LLC Inc. Investors Communications Vodafone PLC Hutchison Essar Ltd. 2/10/07 5/4/07 19.0b Mobile phone operator Mobile phone operator Wesfarmers Ltd. Coles Group Ltd. 7/2/07 11/23/07 18.6a Conglomerate Supermarkets SABMiller PLC Scottish & Newcastle Breweries 4/22/07 Pending 18.0b Diageo PLC PLC Alcoholic beverages Alcoholic beverages Imperial Tobacco Group Plc Altadis SA 3/15/07 Pending 17.9a Tobacco Tobacco Resolution PLC Friends Provident PLC 7/25/07 Rejected 17.72a Closed fund consolidator Life insurance 11/15/07 Friends Financial Group PLC Thomson Corp. Reuters Group PLC 5/8/07 Pending 17.55a Information Information Thomson-Reuters CVC Capital Partners Ltd. Altadis SA 5/4/07 Outbid 17.4c PAI Partners Tobacco 7/18/07 Investors Groupe Danone SA Royal Numico NV 7/9/07 Pending 16.8a Conglomerate Baby food maker CRS-3 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Akzo Nobel NV Imperial Chemical Industries Plc 7/30/07 1/2/08 16.0c Henkel KGaA Chemicals Chemicals HeidelbergCement AG Hanson PLC 5/14/07 8/1/07 15.8a Cement Building materials OMV AG Mol Nyrt 9/25/07 Pending 15.7c Oil Refineries and pipelines Continental AG Siemens VDO 7/25/07 12/3/07 15.67a Auto parts Auto parts AstraZeneca Plc MedImmune Inc. 4/23/07 6/19/07 15.2c Pharmaceuticals Pharmaceuticals Schering-Plough Inc. Organon Biosciences 3/12/07 11/19/07 15.0b Pharmaceuticals (div. Akzo Nobel NV) Pharmaceuticals Unibail Holding Co. SA Rodamco Europe NV 4/10/07 6/21/07 15.0c Real estate investment trust Shopping center owner Tishman Speyer Properties Inc. Archstone-Smith Trust 5/29/07 10/5/07 13.5c Lehman Brothers Holdings Inc. Real estate Real estate Banca Monte dei Paschi di Siena Banca Antonveneta SpA 11/7/07 Pending 13.2c SpA Banking and finance Banking and finance LaFarge SA Orascom Cement 12/10/07 Pending 12.9c Building materials Cement Allianz SE Assurances Generales de France SA 1/18/07 4/30/07 12.7c Insurance Insurance Len Blavatnik Lyondell Chemical 7/17/07 12/20/07 12.66a Investor Chemicals Saga Ltd. Automobile Association Ltd. 6/25/07 9/26/07 12.4c (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 19%) Blackstone Group LP Biomet Inc. 6/7/07 9/25/07 11.4c Kohlberg Kravis Roberts & Co. Orthopedic implants TPG Capital Group Goldman Sachs Group Inc. Private Equity Div. Investors Saudi Basic Industries Corp. GE Plastics Division 5/18/07 8/31/07 11.0c World's largest chemical Plastics manufacturer company Cerberus RAG 6/14/07 Pending 11.0b Investor Conglomerate Carlyle Group Virgin Media, Inc. 7/2/07 Cancelled 10.8c Investor Pay-tv operator 9/14/07 Apollo Management LP Huntsman 7/12/07 Pending 10.79a Investor Chemicals Pearl Group Limited Resolution PLC 11/14/07 2/4/08 10.22a Closed fund consolidator Closed fund consolidator (projected) CRS-4 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Ingersoll-Rand Co. Trane Inc. 12/15/07 Pending 10.1a Conglomerate Air conditioning Taylor Woodrow Plc George Wimpey Plc 3/26/07 7/6/07 9.8c House builder House builder Vivendi SA Activision Inc. (52%) 12/1/07 Pending 9.8c Conglomerate Software Access Industries Holdings LLC Huntsman Corp. 6/26/07 Outbid 9.58c Holding company Chemicals 7/12/07 Kuwait Petrochemical Industries Dow Chemical Co., plastics div. 12/13/07 Pending 9.5c Co. (50% ­ Joint venture) Petrochemicals Plastics Sacyr Vallehermoso SA Eiffage SA 4/19/07 Pending 8.8c Construction Construction Toronto-Dominion Bank Commerce Bancorp Inc. 10/2/07 Pending 8.7a Banking and finance Banking and finance Bain Capital LLC Home Depot wholesale division 6/19/07 8/30/07 8.5a Carlyle Group LP Building supplies Clayton, Dubilier & Rice, Inc. Investors Sam Zell Tribune Co. 3/28/07 12/20/07 8.2a Investor Publishing, broadcasting, sports Tribune ESOP Employee ownership fund TPG Capital LLC Avaya Inc. 6/4/07 10/26/07 8.2a Silver Lake Partners Telecommunications equipment Investors GE Abbot Laboratories Inc. 1/18/07 Abandoned 8.13a Conglomerate In-vitro diagnostics div. 7/12/07 Point-of-Care diagnostics div. Medical Nokia Oyj Navteq Corp. 10/1/07 Pending 8.1c Telecom equipment Mapping software Ron Burkle Tribune Co. 3/30/07 Outbid 8.0c Eli Broad Publishing, broadcasting, sports 4/2/07 Investors Kohlberg Kravis Roberts & Co. Harman International Industries Inc. 4/26/07 Abandoned 8.0c Goldman Sachs Group Inc. Audio equipment manufacturer 10/22/07 Investors Hypo Real Estate Holding AG Depfa Bank Plc 7/23/07 10/4/07 7.9c Real estate lender Government lender Blackstone Group LLP Alliance Data Systems Corp. 5/17/07 Pending 7.86c Investor Credit card processor Apax Partners Thomson Learning (div. Thomson) 5/11/07 7/5/07 7.75a OMERS Capital Partners Nelson Canada (educational Investors publisher) Simon Property Group, Inc. Mills Corp. 2/4/07 7/2/07 7.71a Real estate The Mills Limited Partnership Farallon Capital Management Real estate Investor Citigroup Inc. Nikko Cordial Corp. (61%) 4/27/07 1/29/08 7.7c Banking and finance Brokerage (projected) CRS-5 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Svenskt Stal AB IPSCO Inc. 5/3/07 7/18/07 7.66a Steel Steel Banca Popolare di Milano Scrl Banca Popolare dell'Emiglia 5/21/07 Abandoned 7.61c Banking and finance Romagna Scrl 6/27/07 Banking and finance Brookfield Asset Management Mills Corp. 1/17/07 Outbid 7.5a Inc. The Mills Limited Partnership 2/4/07 Real estate Real estate National Oilwell Varco Inc. Grant Prideco 12/17/07 Pending 7.5a Oil equipment Oil equipment Cerberus Capital Management Chrysler Motors (80.1%) 5/14/07 8/3/07 7.4a Investor Automobile manufacturer SP Ausnet Singapore Power 9/20/07 Pending 7.4c Utilities Utilities Madison Dearborn Partners LLC CDW Corp. 5/29/07 10/12/07 7.3c Investor Tech equipment seller MetroPCS Communications Inc. Leap Wireless International Inc. 9/4/07 Abandoned 7.27a Telecommunications Telecommunications 11/1/07 Kraft Foods Inc. LU div. Danone S.A. 7/1/07 12/2/07 7.2b Conglomerate Biscuits PPR SA Puma AG 4/10/07 7/17/07 7.1c Retail holding company Sporting goods manufacturer Clayton, Dubilier & Rice US Foodservice (div. Ahold NV) 5/2/07 7/3/07 7.1b Kohlberg Kravis Roberts & Co. Food products distribution Investors Babcock & Brown Ltd. Alinta Ltd. 3/5/07 Pending 7.0c Singapore Power Ltd. Electricity and gas distributor Energy companies Siemens AG Dade Behring Inc. 7/25/07 11/6/07 7.0a Conglomerate Laboratory diagnostics Community Health Systems Inc. Triad Hospitals Inc. 3/19/07 7/25/07 6.8a Health care provider Health care provider Wachovia Corp. A.G. Edwards Inc. 5/31/07 10/1/07 6.8c Banking and finance Stockbroker SAP AG Business Objects SA 10/7/07 Pending 6.8b Business software Software Macquarie Infrastructure Puget Energy Inc. 10/26/07 Pending 6.7a Partners Utility holding company British Columbia Investment Management Corp. Alberta Investment Management Corp. Macquarie-FSS Infrastructure Trust Macquarie Bank Ltd. Investors Oracle Corp. BEA Systems Inc. 10/12/07 Pending 6.66a Software Software Mylan Laboratories Inc. Merck KGaA generic drug division 5/14/07 10/2/07 6.6a Pharmaceuticals Pharmaceutical Vivendi SA Neuf Cegetel SA 12/20/07 Pending 6.4c Conglomerate Telecommunications CRS-6 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Carlyle Group Inc. Manor Care Inc. 7/2/07 12/21/07 6.3a Investor Nursing-home operator Citigroup Inc. Kelda Group Plc 11/26/07 Pending 6.3c HSBC Holdings Plc Water GIC Special Investments Pte Ltd. Prudential Infracapital Partners LP Investors Marathon Oil Corp. Western Oil Sands Inc. 7/31/07 10/18/07 6.21a Petroleum Petroleum Fortress Investment Group LLC Penn National Gaming Inc. 6/15/07 Pending 6.1c Centerbridge Partners LP Casino and race track operator Investors JP Morgan, Chase & Co. United Utilities Plc 11/23/07 Pending 6.02c Commonwealth Bank of power distribution division Australia Investors Darwin Deason Affiliated Computer Services Inc. 3/20/07 Withdrawn 6.0a (Founder ACS Inc.) IT provider 10/30/07 Cerberus Capital Management Investor Microsoft Corp. Inc. aQuantive Inc. 5/18/07 8/10/07 6.0a Software Online advertising agency Macquarie Bank Ltd. Alinta Ltd. 3/26/07 Pending 5.9c ABN Amro Holding NV Electricity and gas distributor Madison Dearborn Partners LLC Nuveen Investments Inc. 6/20/07 11/13/07 5.75a Merrill Lynch & Co. Asset management Wachovia Corp. Citigroup Inc. Deutsche Bank AG Morgan Stanley Investors Carlyle Group Allison Transmission 6/28/07 8/8/07 5.6a Onex Corp. (Div. GM) Investors Telefónica SA Olimpia SpA 4/28/07 10/23/07 5.6c Telecommunications (owner of Telecom Italia SpA) Assicurazioni General SpA Telecommunications Insurance Intesa Sanpaolo SpA Mediobanca SpA Banking and finance Benetton family Investors News Corp. Dow Jones & Co. 8/01/07 12/14/07 5.6a Conglomerate Publishing Industrial & Commercial Bank Standard Bank Group Ltd. (20%) 10/25/07 2/08 5.6c of China Ltd. Banking and finance (projected) Banking and finance Nestlé SA Gerber Products Co. 4/11/07 9/3/07 5.5a Conglomerate Infant products Carl Icahn Lear Corp. 2/5/07 Rejected 5.3c Investor Automotive supplier 7/16/07 CRS-7 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Permira Atos Origin SA 3/15/07 Rejected 5.3b Investor IT provider 7/14/07 Centaurus Hedge fund Royal Philips Electronics NV Respironics Inc. 12/21/07 Pending 5.2c Conglomerate Medical equipment maker Randstad Holding NV Vedior NV 12/3/07 Pending 5.14c Personnel staffing Personnel staffing BC Partners Ltd. Intelsat Ltd. 6/19/07 Pending 5.03 Investors Commercial satellite operator Macquarie Bank Ltd. National Grid Wireless Plc 4/3/07 Pending 5.0c Investor Wireless network provider Arqiva (Macquarie Communications Infrastructure Group) Abu Dhabi National Energy Co. PrimeWest Energy Trust 9/24/07 11/20/07 5.0c Energy Petroleum Doosan Infracore Co. Bobcat div. Ingersoll-Rand 7/29/07 11/30/07 4.9a Conglomerate Construction machinery International Business Machines Cognos Inc. 11/12/07 Pending 4.9a Inc. Software provider Information technology General Electric Inc. Smiths Aerospace 1/15/07 5/4/07 4.8a Conglomerate (div. Smiths Group Plc). Conglomerate Aem SpA ASM Brescia SpA 6/4/07 Pending 4.8c Utility Utility CCMP Capital Advisors Triad Hospitals Inc. 2/5/07 Outbid 4.7a GS Capital Partners Hospital operator 3/19/07 Investors Clayton, Dubilier & Rice Inc. ServiceMaster Co. 3/19/07 7/24/07 4.7c Investor Service provider Terra Firma Capital Partners EMI Group Plc 5/21/07 9/18/07 4.7c Ltd. Music Investor Voestalpine AG Boehler-Uddeholm AG 3/29/07 9/6/07 4.69c Steel Steel T. Ananda Krishnan Maxis Communications Bhd 5/3/07 Pending 4.6c Investor (who will sell to) Mobile telecommunications Binariang GSM Sdn Holding company (controlled by Mr. Krishnan) John de Mol Endemol NV (75%) 5/14/07 7/3/07 4.6c MediaSet SpA Television programming producer Goldman Sachs Investors Edam Acquisition Hindalco Industries Ltd. Novelis Inc. 2/12/07 5/15/07 4.57a Aluminum maker Aluminum roller State Street Corp. Investors Financial Services Corp. 2/5/07 7/2/07 4.5a Banking and finance Banking and finance CRS-8 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Bjorgolfur Thor Bjorgolfsson Actavis Group hf 5/10/07 7/25/07 4.5c Investor, Chairman of Activis Generic drugmaker Berkshire Hathaway Inc. Marmon Holdings Inc. (60%) 12/26/07 Pending 4.5c Holding company Holding company ProSiebenSat.1Media SBS Broadcasting 6/27/07 6/30/07 4.4b Broadcasting Broadcasting Fiserv Inc. CheckFree Corp. 8/2/07 12/4/07 4.4a Technology services Electronic bill-paying Barrett Developments Plc Wilson Bowden Plc 2/5/07 Pending 4.3a Homebuilder Builder Mitsubishi Chemical Holdings Tanabe Seiyaku Co. 2/2/07 10/1/07 4.3c Corp. Pharmaceuticals Chemicals and pharmaceuticals Rexel SA Hagemeyer NV 10/25/07 Pending 4.29c Electrical equipment Electrical equipment Sonepar SA Electrical equipment OAO GMK Norilsk Nickel LionOre Mining International Ltd. 5/3/07 10/5/07 4.28 Nickel producer Mining Gerdau Ameristeel Corp. Chaparral Steel Co. 7/10/07 9/16/07 4.22a Steel Steel TomTom NV Tele Atlas NV 7/23/07 Pending 4.2c Navigation devices Digital mapping OAO VimpelCom Golden Telecom Inc. 12/3/07 Pending 4.2c Mobile phone Telecommunications BAE Systems Plc Armor Holdings Inc. 5/7/07 7/31/07 4.14c Military contractor Armoring for vehicles Advanced Medical Optics Bausch & Lomb Inc. 7/6/07 Outbid 4.1a Optics Optics Coca-Cola Co. Energy Brands Inc. 5/25/07 6/7/07 4.1c Beverage maker Enhanced water maker Borse Dubai OMX AB 8/17/07 2/08 4.02a Stock exchange Stock exchange (projected) Petróleo Brasileiro S.A. Companhia Brasileira de Petróleo 3/19/07 4/18/07 4.0b Petroleum (state-controlled) Ipiranga Braskem S.A. Petroleum Petrochemicals Ultrapar S.A. (Grupo Ultra) Petrochemicals Xstrata Plc LionOre Mining International Ltd. 3/26/07 Outbid 4.0c Mining Mining Loews Corp. Dominion Resources oil and gas 6/4/07 7/31/07 4.0 Holding company properties in west Texas, Alabama, HighMount Exploration and and Michigan Production LLC Houghton Mifflin Riverdeep Reed-Elsevier PLC's divisions: 7/16/07 12/13/07 4.0a PLC Harcourt Education Publishing Harcourt Trade Greenwood-Heinemann Publishing CRS-9 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Cerberus Capital Management United Rentals Inc. 7/22/07 Cancelled 4.0a Investor Equipment rental 12/24/07 Kaupthing Bank nf NIBC Holding NV 8/15/07 Pending 4.0c Banking and finance Banking and finance Power Financial Corp., Marsh & McLennan Corp., 2/1/07 8/6/07 3.9a Great-West Lifeco Inc. (div.) Putnam Investments (div.) Money manager Money manager Morgan Stanley Investa Property Group, Ltd. 5/31/07 8/22/07 3.9c Investor Real estate Medtronic Inc. Kyphon Inc. 7/27/07 11/19/07 3.9c Medical devices Medical devices Eisai Co. KK MGI Pharma Inc. 12/10/07 Pending 3.9c Pharmaceuticals Pharmaceuticals Douglas Becker Laureate Education 1/28/07 8/17/07 3.8n (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 Quebec Sterling Capital Makena Capital Torreal Southern Cross Capital Investors Teck Cominco Ltd. Aur Resources Inc. 7/3/07 8/30/07 3.79c Zinc producer Copper producer Wallenberg Family's Investor Moelnlycke Health Care AB 1/26/07 Pending 3.7c AB Medical supplies Morgan Stanley Co. Principal Investments Investors Nasdaq Stock Market Inc. OMX AB 5/25/07 Outbid 3.7c Stock exchange Stock exchange operator Warburg, Pincus LLC Bausch & Lomb Inc. 5/16/07 10/28/07 3.67c Investors Eye-products maker FirstGroup Plc Laidlaw International Inc. 2/9/07 10/1/07 3.6c Bus and train operator Bus operator Flextronics International Ltd Solectron Corp. 6/4/07 10/1/07 3.6c Electronics manufacturing Electronics manufacturing Plains Exploration and Pogo Producing Co. 7/17/07 11/6/07 3.6a Production Company Oil and gas Oil and gas Eni SpA Burren Energy Plc 11/30/07 1/10/08 3.6c Oil and gas Oil and gas (projected) Siemens AG UGS Corp. 1/24/07 5/7/07 3.5a Conglomerate Software maker Fortress Investment Group LLC Florida East Coast Industries, Inc. 5/8/07 10/29/07 3.5a Investor Railroad and real estate Permira Advisers LLP Valentino Fashion Group Sp.A. 5/16/07 9/20/07 3.5c Investors Fashion CRS-10 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Colony Capital Tamoil (65%) 6/6/07 Pending 3.5b Investor Refining and retailing Iberdrola S.A. Energy East Inc. 6/25/07 Pending 3.5b Utility Utility CVC Capital Partners Univar NV 7/9/07 11/19/07 3.5a Investors Chemicals distributor GLG Partners LP Freedom Acquisition Holdings Inc. 6/25/07 11/2/07 3.4c Hedge fund manager Private equity manager GLG Partners Inc. Oracle Corp. Hyperion Solutions Corp. 3/1/07 4/18/07 3.3a Software Software Garmin Ltd. Tele Atlas NV 10/31/07 Bid 3.3a Car-navigation devices Digital mapmaker withdrawn 11/16/07 Macquarie Communications Airwave 4/19/07 4/21/07 3.2c Infrastructure Group Emergency radio services Macquarie European provider Infrastructure Fund II Investors PPG Industries Inc. SigmaKalon Group 7/20/07 1/2/08 3.2b Coatings Coatings MBK Partners Ltd. C&M 8/3/07 11/30/07 3.2c Macquarie Bank Cable tv operator Macquarie Korea Fund Investors SXR Uranium One Inc. UrAsia Energy Ltd. 2/12/07 4/20/07 3.12a Uranium miner Uranium miner Uranium One Inc. Centro Properties Group New Plan Excel Realty Trust Inc. 3/1/07 4/20/07 3.1a Real estate Real estate investment trust Centro Retail Trust Investment trust Google Inc. DoubleClick Inc. 4/13/07 Pending 3.1a Internet Internet ad services TUI AG First Choice Holidays Plc 3/19/07 9/3/07 3.0c Tour operator Vacation provider Roche Holdings AG Ventana Medical Systems Inc. 6/25/07 Pending 3.0a Pharmaceuticals Diagnostic products Saudi Telecom Co. Maxis Communications Bhd (25%) 6/26/07 Pending 3.0c Telecommunications Telecommunications Cie. de Saint-Gobain SA Maxit div. HeidelbergerCement AG 8/7/07 Pending 2.94c Building mateirals Mortar Merrill Lynch & Co. Resona Holding Inc. 4/25/07 7/17/07 2.9a Investment bank Banking and finance Health Care Property Investors Slough Estates USA 6/4/07 8/1/07 2.9b Real estate Segro Plc U.S. real estate holdings Real estate Altria Group, Inc. John Middleton, Inc. 11/1/07 12/11/07 2.9a Tobacco Cigarmaker Apollo Management Claire's Stores Inc. 3/20/07 5/29/07 2.8a Investor Retail jeweler CRS-11 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Canada Pension Plan Investment Auckland International Airport Ltd. 6/18/07 Rejected 2.8c Board Airport operator 12/18/07 Investor AT&T Inc. Dobson Communications Corp. 6/29/07 11/15/07 2.8a Telecommunications Telecommunications Ralcorp Holdings Inc. Post Cereals div., Kraft Foods Inc. 11/5/07 Pending 2.8a Cereal maker Food company Macrovision Corp. Gemstar-TV Guide International 12/7/07 Pending 2.8c Software Inc. Interactive program listings Morgan Stanley & Co. Crescent Real Estate Equities Co. 5/22/07 8/3/07 2.78c Investor Real estate investment trust Jerry Moyes Swift Transportation Inc. 1/19/07 5/10/07 2.74 (Founder and former CEO) Trucking Carlyle Group Inc. Sequa Corporation 7/9/07 Pending 2.7a Investor Aerospace and automotive parts China National Chemical Corp. Nufarm Ltd. 11/2/07 Pending 2.7c Chemicals Agricultural chemicals Royal Philips Electronics NV Genlyte Group Inc. 11/26/07 Pending 2.7c Conglomerate Lighting fixture manufacturer Rank Alcoa - packaging division 12/21/07 Pending 2.7c Packaging Packaging ING NV Oyak Bank 6/19/07 Pending 2.67b Banking and finance Banking and finance Verizon Wireless Rural Cellular Corp. 7/30/07 Pending 2.67a Telecommunications Telecommunications Hellman & Friedman LLC Goodman Global Inc. 10/22/07 Pending 2.65c Investors Air conditioning CommScope Inc. Andrew 6/27/07 12/27/07 2.6a Telecom equipment Telecom equipment Limak AS Sabiha Gokcen Airport 7/10/07 7/10/07 2.6c GMR Infrastructure Ltd. Airport Malaysia Airports Holding Bhd Investors Kirin Holdings Co. National Foods 11/7/07 Pending 2.6c Beverages Beverages Onex Corp. Kodak medical imaging div. 1/10/06 5/1/07 2.553 Investor Medical imaging Areva SA UraMin Inc. 6/15/07 8/21/07 2.5c Nuclear plant builder Uranium mining Morgan Stanley & Co. All Nippon Airways' ANA Hotels 4/13/07 Pending 2.4c Investor Hotels Deutsche Telekom AG SunCom Wireless Holdings, Inc. 9/27/07 4/08 2.4c Telecommunications Telecommunications (projected) Guardian Media Group Plc Emap Plc 12/21/07 Pending 2.38a Publishing Business to business Apax Partners Worldwide LLP Investor CRS-12 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) SNS Reaal Groep NV AXA Nederland BV 6/4/07 Pending 2.35c Financial services Winterthur Verzekerningen Holding BV` DBV Holding NV Insurance Hercules Offshore Inc. Todco 3/19/07 7/12/07 2.3c Oil and gas driller Oil and gas driller Heinrich Bauer Verlag KG Emap Plc consumer magazines div. 12/7/07 Pending 2.3c Publishing and radio stations Publishing & broadcasting Reckitt Benckiser Plc Adams Respiratory Therapeutics 12/10/07 Pending 2.3c Conglomerate Inc. Over-the-counter drugs Silver Lake Partners Acxiom Corp. 5/16/07 Cancelled 2.24c ValueAct Capital Partners LP Computer and database service 10/1/07 Investors Eaton Corp. Moeller Group AG 12/20/07 Pending 2.23a Conglomerate Electrical supplies Sulzer A.G. Bodycote International Plc. 4/27/07 Rejected 2.2c Industrial pump maker Metal-treatment Blackstone Group LP Ten Network Holdings Ltd. 5/3/07 Rejected 2.2c Carlyle Group Television broadcaster Investors Bain Capital Partners LLC 3Com Corp. 9/28/07 Pending 2.2a Investors Telecommunications equipment Huawei Technologies Co. Networking Medi-Clinic Corp. Hirslanden Holdings 8/2/07 10/26/07 2.2c Hospital owner Medical clinic operator Advantage Partners LLC Tokyo Star Bank Ltd. 12/21/07 Pending 2.2c Investors Banking and finance US Steel Corp. Lone Star Technologies, Inc. 3/29/07 6/14/07 2.1c Steel Steel pipemaker Apollo Management LP Countrywide Plc 4/12/07 Pending 2.1c Investor Real estate broker Luxxotica Oakley 6/21/07 11/26/07 2.1c Eyewear, conglomerate Eyewear Bain Capital Partners LLC Guitar Center Inc. 6/27/07 10/9/07 2.1a Investor Retailer IHOP Corp. Applebee's International Inc. 7/16/07 11/29/07 2.1a Casual dining Casual dining Eugene Corp. Himart Co. 12/10/07 Pending 2.1c Building materials Electronics retailer Candover Stork NV 6/19/07 Pending 2.08b Investor Conglomerate Cerberus Capital Management Stora Enso Oyj 9/21/07 12/21/07 2.07c LP North American div. Investor Papermaker Steinhoff International Holdings JD Group Ltd. 3/16/07 Rejected 2.0c Ltd. Furniture retailer 5/29/07 Furniture maker CRS-13 Acquirer, Sector, and Date Date Value Target Firm and Sector New Name (if applicable) Announced Completed ($ billions) Statoil ASA North American Oil Sands Corp. 4/27/07 6/25/07 2.0c Oil company (Government- Oil developer owned) Ceva Group Plc EGL Inc. 5/24/07 8/2/07 2.0c (div. Apollo Management LP) Transport Transport XTO Energy Inc. Dominion Resources properties in 6/4/07 7/31/07 2.0 Oil and gas Utah, New Mexico, southern Colorado, and Louisiana Deutsche Telekom AG Orange Netherlands 6/7/07 9/28/07 2.0c Telecommunications (div. France Telecom SA) Telecommunications Teleflex Inc. Arrow International Inc. 7/23/07 10/1/07 2.0a Conglomerate Medical supplies Platinum Equity Ryerson Inc. 7/24/07 10/19/07 2.0a Investor Metals processor Katanga Mining Ltd. Nikanor Plc 11/7/07 Pending 2.0c Mining Mining Sources: Mergerstat Online [http://www.mergerstat.com]; 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 company's 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: Bloomberg.com The designation "Pending" often indicates that regulatory approval needed for actual merger has not been obtained. CRS-14 CRS Reports For past years, see the following reports: CRS Report RL33906, Largest Mergers and Acquisitions by Corporations, 2006, by John Williamson. CRS Report RL33329, Largest Mergers and Acquisitions by Corporations: 2005, by John Williamson. CRS Report RS21726, Largest Mergers and Acquisitions by Corporations: 2004, by John Williamson. CRS Report RS21415, Largest Mergers and Acquisitions by Corporations: 2003, by John Williamson. CRS Report RS21147, Largest Mergers and Acquisitions by Corporations: 2002, by John Williamson. 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. ------------------------------------------------------------------------------ For other versions of this document, see http://wikileaks.org/wiki/CRS-RL34375