(Bloomberg) -- The record $2.5 trillion of mergers
so far in 2007 shows no sign of reversing the 15-year trend that
has most shareholders on the losing side of acquisitions while
enriching the executives and bankers who arrange them.
UniCredit SpA shares dropped 10 percent since Italy's
largest bank announced plans in May to buy smaller Rome-based
rival Capitalia SpA for almost $30 billion. U.K. drugmaker
AstraZeneca Plc lost 9 percent of market value after unveiling
its $15 billion bid for MedImmune Inc. two months ago. Sacyr
Vallehermoso SA, the Madrid-based builder, fell 19 percent since
bidding in April for French rival Eiffage SA.
Read more at Bloomberg Exclusive News
so far in 2007 shows no sign of reversing the 15-year trend that
has most shareholders on the losing side of acquisitions while
enriching the executives and bankers who arrange them.
UniCredit SpA shares dropped 10 percent since Italy's
largest bank announced plans in May to buy smaller Rome-based
rival Capitalia SpA for almost $30 billion. U.K. drugmaker
AstraZeneca Plc lost 9 percent of market value after unveiling
its $15 billion bid for MedImmune Inc. two months ago. Sacyr
Vallehermoso SA, the Madrid-based builder, fell 19 percent since
bidding in April for French rival Eiffage SA.
Read more at Bloomberg Exclusive News
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