The daring bids of May.(European corporate bids)

Banker, The, May, 1999 by Shearlock, Peter

The year 1999 is promising to be a year of mergers and acquisitions for Europe's business sector. Easily topping the list is Italian conglomerate Olivetti's $65 billion bid for Telecom Italia while $35 billion is involved in the possible merger between French corporations BNP, Societe Generale and Paribas. The hostile nature of some of the acquisitions has been a boon for US investment banks which were enlisted by participants in the deals because of their experience in deal-making. Market research firm Securities Data which monitors the amount of deals in Europe and the US says that as much as $835 billion have been offered in new deals.

Although it was a record quarter for bids, and hostile ones at that, we will have to wait to see if the new testosterone-driven culture...

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