From: [EMAIL PROTECTED] Subject: Merger Mania continues Date: Wed, 9 Dec 1998 10:02:50 EST The corporate merger mania continues. It's interesting to note that the ten biggest corporate mergers in history (see list below) have all occured in the last 7 months. Why should we care? If jobs, wealth and production are all concentrated in the hands of a few corporations, controlled by a wealthy elite, it will be harder to exercise any of our rights. Wages will be cut, workers rights, environmental standards and human rights will all be in jeopardy. It's only going to get worse if we don't stop the globalization of the economy under the "Free Trade" banner. Biggest U.S. Mergers Top corporate mergers involving U.S. companies. The values of pending deals are based on Monday's closing stock prices: 1. Exxon Corp. agrees to $77.2 billion merger with Mobil Corp., announced Tuesday. Pending. 2. Bell Atlantic Corp. to merge with GTE Corp. in deal valued at $72.6 billion, announced July 28, 1998. Pending. 3. SBC Communications Inc. announces plan to buy Ameritech Corp. for $69.9 billion in stock on May 11, 1998. Pending. 4. British Petroleum PLC agrees to buy Amoco Corp. for $58.5 billion in stock, announced Aug. 11, 1998. Pending. 5. NationsBank Corp. and BankAmerica Corp. merge in a deal valued at $41.5 billion, completed Sept. 30, 1998. 6. WorldCom Inc. acquires MCI Communications Inc. for $37 billion, completed Sept. 14, 1998. 7. Travelers Group and Citicorp merge in a deal valued at $36.9 billion, completed Oct. 7, 1998. 8 (tie). Daimler-Benz merges with Chrysler Corp. in a stock swap valued at $32.8 billion, completed Nov. 12, 1998. 8 (tie). AT&T Corp. agrees to buy Tele-Communications Inc. for $32.8 billion in stock, announced June 24, 1998. Pending. 10. Wells Fargo & Co. and Norwest Corp. merge in a deal valued at $31.7 billion, completed Nov. 2, 1998. AP-NY-12-01-98 0957EST Copyright 1998 The Associated Press. Leftlink - Australia's Broad Left Mailing List http://www.alexia.net.au/~www/mhutton/
