List of largest mergers and acquisitions


The following tables list the largest mergers and acquisitions by decade of transaction. Transaction values are given in the US dollar value for the year of the merger, adjusted for inflation., the largest ever acquisition was the 1999 takeover of Mannesmann by Vodafone Airtouch plc at $183 billion. AT&T appears in these lists the most times with five entries, for a combined transaction value of $311.4 billion. Mergers and acquisitions are notated with the year the transaction was initiated, not necessarily completed. Mergers are shown as the market value of the combined entities.

Free market enterprises

1870s

Top 2 M&A deals worldwide by value from 1870 to 1879:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11874 Honeybrook Coal Company Wilkesbarre Coal and Iron Company0.01
21879 Pacific Coast Oil Company Star Oil0.001

1880s

Top 2 M&A deals worldwide by value from 1880 to 1889:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11884 New York Gas Light Company Manhattan Gas Light Company
Metropolitan Gas Light Company
Municipal Gas Light Company
Knickerbocker Gas Light Company
Harlem Gas Light Company
0.045
21883 Buffalo, Pittsburgh and Western Railroad Buffalo, New York and Philadelphia Railway
Olean and Salamanca Railroad
Oil City and Chicago Railroad Company
0.02085

1890s

Top 2 M&A deals worldwide by value from 1890 to 1899:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11899 American Spirits Manufacturing Company Kentucky Distilleries and Warehouse Company
Spirits Distributing Company
0.125
21899 Pullman Palace Car Company Wagner Palace Car Company0.074

1900s

Top 3 M&A deals worldwide by value from 1900 to 1909:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11901 Carnegie Steel Company Federal Steel Company
National Steel Company
0.492
21907 New York, New Haven and Hartford Railroad Company Boston and Maine Corporation0.310
31909 Interborough Rapid Transit Company Metropolitan Street Railway0.222

1910s

Top 3 M&A deals worldwide by value from 1910 to 1919:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11915 Midvale Steel Company Remington Arms Company
Worth Brothers Company
0.100
21915 United Dry Goods Associated Merchants Company0.050
31918 General Motors United Motors Company0.045

1920s

Top 5 M&A deals worldwide by value from 1920 to 1929:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11928 Consolidated Gas Company of New York Brooklyn Edison Company1.0
21929 Niagara and Eastern Power Corporation MohawkHudson Power Corporation
Northeastern Power Corporation
0.665
31928 United Light and Power Company American Light and Traction0.522
41928 Hodenpyl & Hardy Stevens & Wood0.500
51928 Middle West Utilities National Electric Power
National Public Service
New England Public Service
Inland Power and Light
0.400

1930s

Top 5 M&A deals worldwide by value from 1930 to 1939:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11930 Pacific Gas and Electric Company Great Western Power Company
San Joaquin Light and Power Corporation
Midland Counties Public Service Corporation
0.650
21932 Sinclair Consolidated Oil Corporation Prairie Oil and Gas
Prairie Pipe Line Company
0.542
31934 Republic Steel Corrigan-McKinney Steel Corporation0.323
41931 Bethlehem Steel Pittsburgh Steel Company0.080
51932 Studebaker Corporation White Motor Company0.026

1940s

Top 5 M&A deals worldwide by value from 1940 to 1949:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11945 Consolidated Edison Brooklyn Edison Company
New York and Queens Light and Power Company
1.2
21948 Central New York Power Corporation New York Power and Light Corporation
Buffalo Niagara Electric Corporation
0.500
31945 Pittsburgh Coal Company Consolidation Coal Company0.160
41948 Long Island Lighting Company Queens Borough Gas and Electric Company
Nassau & Suffolk Lighting Company
0.140
51941 Celanese Corporation Celluoid Corporation0.096

1950s

Top 10 M&A deals worldwide by value from 1950 to 1959:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11959 General Telephone Sylvania Electric Products1.8
21957 Armco National Supply Company0.768
31957 American Can Company Marathon Corporation0.717
41955 Monsanto Lion Oil0.550
51956 Continental Can Company Robert Gair Company0.549
61954 Olin Industries Mathieson Chemical0.500
71955 Sunray Oil Corporation Mid-Continent Petroleum Corporation0.486
81955 Sperry Corporation Remington Rand0.466
91953 Gulf Oil Warren Petroleum Corporation0.420
101954 Hudson Motor Car Company Nash-Kelvinator0.355

1960s

Top 10 M&A deals worldwide by value from 1960 to 1969:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11969 Atlantic Richfield Sinclair Oil Corporation3.7
21965 Union Oil Pure Oil1.5
31968 Hunt-Wesson Canada Dry
McCall Corporation
1.0
41969 Xerox Corporation Scientific Data Systems0.925
51967 Rockwell-Standard North American Aviation0.922
61968 Sun Oil Sunray DX Oil Company0.763
71965 Continental Oil Company Consolidation Coal0.620
81961 American-Marietta Corporation Glenn L. Martin Company0.600
91968 Control Data Corporation Commercial Credit Company0.582
101967 Studebaker Corporation Worthington Corporation0.550

1970s

Top 15 M&A deals worldwide by value from 1970 to 1979:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11979 Shell Oil Company Belridge Oil Company3.65
21976 General Electric Utah International2.17
31979 RCA CIT Financial1.3
41979 Exxon Reliance Electric1.2
51978 United Technologies Carrier Corporation1.0
61979 Mobil General Crude Oil0.765
71976 Atlantic Richfield Anaconda Copper0.760
81978 R. J. Reynolds Industries Del Monte Corporation0.620
91978 Johns Manville Olinkraft Inc0.585
101977 Kennecott Copper Carborundum Corporation0.567
111978 Philip Morris Seven-Up Bottling Co0.520
121978 Beatrice Foods Tropicana Products0.488
131977 Unilever National Starch and Chemical0.485
141974 Burmah Oil Signal Oil & Gas0.480
151979 American Brands Franklin Life Insurance0.465

1980s

Top 30 M&A deals worldwide by value from 1980 to 1989:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11989 Kohlberg Kravis Roberts RJR Nabisco31.0
21989 Mitsui Bank Taiyo Kobe Bank22.8
31989 Warner Communications Time Inc.15.2
41984 Standard Oil of California Gulf Oil13.2
51988 Philip Morris Kraft Foods13.1
61989 Bristol Myers Squibb12.0
71984 Texaco Getty Oil10.1
81989 Beecham Group SmithKline Beckman7.9
91987 BP Standard Oil of Ohio7.8
101981 E. I. du Pont de Nemours and Company Conoco7.3
111988 Campeau Corporation Federated Department Stores6.6
121985 General Electric RCA6.3
131982 United States Steel Corp. Marathon Oil6.0
141985 Kohlberg Kravis Roberts Beatrice Companies6.0
151985 Philip Morris Companies General Foods5.8
161987 Dome Mines Placer Development
Campbell Red Lake Mines
5.8
171984 Mobil Superior Oil Company5.7
181988 Grand Metropolitan Pillsbury Company5.7
191989 Dow Chemical Company Marion Laboratories5.7
201984 Royal Dutch/Shell Group Shell Oil Company5.5
211989 Hanson plc Consolidated Gold Fields5.5
221985 General Motors Hughes Aircraft Company5.2
231988 British American Tobacco Farmers Insurance Group5.2
241987 John Philp Thompson Sr. Southland Corporation5.1
251988 Thomas F. Frist Jr.
Richard Rainwater
HCA Healthcare5.1
261988 Eastman Kodak Sterling Drug5.1
271981 Elf Aquitaine Texasgulf Inc.5.0
281985 R.J. Reynolds Industries Nabisco Brands4.9
291986 Burroughs Corporation Sperry Corporation4.8
301989 Sony Columbia Pictures4.8

1990s

Top M&A deals worldwide by value from 1990 to 1999:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
11999 Vodafone Airtouch plc Mannesmann183.0
21999 Pfizer Warner-Lambert90.0
31998 Exxon Mobil77.2
41998 Citicorp Travelers Group70.0
51999 Bell Atlantic Vodafone Airtouch plc 70.0
61998 Zeneca Astra AB67.0
71998 NationsBank Bank America62.0
81999 SBC Communications Ameritech Corporation62.0
91999 Vodafone Group AirTouch Communications56.0
101999 TotalFina Elf Aquitaine54.3
111998 Bell Atlantic GTE53.36
121996 Bell Atlantic NYNEX52.0
131998 BP Amoco49.0
141999 AT&T Tele-Communications Inc.48.0
151999 The Sumitomo Bank The Sakura Bank45.5
161999 Qwest Communications US West44.0
171998 Hoechst AG Rhône-Poulenc43.0
181999 Royal [Bank of Scotland Group] National Westminster Bank plc42.5
191999 Fuji Bank Dai-Ichi Kangyo Bank
Industrial Bank of Japan
40.1
201997 Zurich Insurance Group British American Tobacco 38.0
211998 Daimler-Benz Chrysler38.0
221997 Worldcom MCI Communications37.0
231999 Mannesmann Orange UK36.0
241999 Viacom CBS Corporation35.6
251998 Wells Fargo Norwest Corporation34.0
261999 Olivetti Telecom Italia 34.0
271995 Mitsubishi Bank The Bank of Tokyo33.8
281998 Banc One First Chicago Bank29.8
291996 Ciba-Geigy Sandoz27.0
301999 BP-Amoco Atlantic Richfield Company26.8
311999 Monsanto Pharmacia & Upjohn26.5
321999 Lucent Ascend Communications25.2
331997 Union Bank of Switzerland Swiss Bank Corporation25.0
341999 Clear Channel Broadcasting AMFM Broadcasting Licenses, LLC23.8
351998 Berkshire Hathaway Gen Re22.0
361999 Banque Nationale de Paris Paribas20.0

2000s

Top M&A deals worldwide by value from 2000 to 2009:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
12000 AOL Time Warner182.0
22007 Gaz de France Suez S.A.107.0
32007 RFS Holdings ABN Amro98.0
42004 Royal Dutch Petroleum Shell Transport & Trading Company plc95.0
52000 Glaxo Wellcome SmithKline Beecham76.0
62001 Comcast AT&T Broadband72.0
72006 Banca Intesa Sanpaolo IMI71.0
82009 Pfizer Wyeth68.0
92008 United States Department of the Treasury American International Group67.8
102006 AT&T BellSouth67.0
112008 Enel
Acciona
Endesa65.3
122004 Sanofi Aventis64.2
132002 AT&T MediaOne62.0
142002 Pfizer Pharmacia Corp.60.0
152004 JPMorgan Chase Bank One Corporation58.0
162008 HM Treasury Royal Bank of Scotland Group58.0
172005 Procter & Gamble Gillette57.0
182008 InBev Anheuser-Busch52.0
192000 Deutsche Telekom Voicestream50.7
202008 Lloyds TSB Group HBOS50.0
212008 Bank of America Merrill Lynch & Co.50.0
222009 United States Department of the Treasury General Motors49.5
232003 Bank of America FleetBoston Financial47.0
242009 Roche Holding AG Genentech46.8
252008 United States Department of the Treasury Citigroup45.0
262008 United States Department of the Treasury Bank of America45.0
272009 Merck & Co. Schering-Plough41.1
282000 JDS Uniphase SDL Inc.41.0
292004 Cingular AT&T Wireless41.0
302009 ExxonMobil XTO Energy41.0
312000 France Télécom Vodafone Airtouch plc 40.3
322008 Novartis Alcon39.0
332007 Rio Tinto Alcan38.1
342000 Pacific Century Cyber Works Cable & Wireless HKT Ltd38.0
352005 Tokyo Mitsubishi UFJ Holdings38.0
362006 América Móvil América Telecom37.0
372006 The Blackstone Group Equity Office36.0
382005 ConocoPhillips Burlington Resources35.6
392000 Chevron Corporation Texaco35.0
402005 Sprint Corporation Nextel Communications35.0
412005 Bank of America MBNA34.2
422000 Vivendi Seagram34.0
432006 Mittal Steel Company Arcelor33.65
442007 Kohlberg Kravis Roberts
Texas Pacific Group
TXU Corp.31.8
452005 Telefónica O231.6
462006 Nokia Corporation Siemens AG 31.6
472000 Citigroup Associates First Capital Corporation31.0
482000 Chase Manhattan Bank J.P. Morgan & Co.30.9
492007 Statoil Norsk Hydro30.0
502009 Comcast General Electric 30.0
512007 Kohlberg Kravis Roberts First Data29.0
522007 UniCredit Capitalia29.0
532004 KBC Bank Almanij28.12
542008 Verizon Wireless Alltel28.1
552001 BHP Ltd. Billiton plc28.0
562003 Olivetti Telecom Italia 27.8
572007 Texas Pacific Group
Goldman Sachs Capital Partners
Alltel27.5
582006 Boston Scientific Guidant27.2
592006 Thomas H. Lee Partners
Bain Capital
Clear Channel Broadcasting26.7
602009 Berkshire Hathaway Burlington Northern Santa Fe Corp.26.3
612007 The Blackstone Group Hilton Hotels Corp26.0
622007 Freeport-McMoRan Phelps Dodge25.9
632006 Wachovia Golden West Financial25.5
642008 HM Treasury Lloyds Banking Group25.4
652008 Apollo Management
Texas Pacific Group
Harrahs Entertainment25.1
662001 Hewlett Packard Company Compaq25.0
672008 United States Department of the Treasury JPMorgan Chase25.0
682008 United States Department of the Treasury Wells Fargo25.0
692008 Ministry of Finance Fortis 23.3
702001 American International Group American General23.0
712008 Mars, Incorporated Wm. Wrigley Jr. Company23.0
722007 Iberdrola Scottish Power22.5
732006 Richard Kinder
Goldman Sachs Capital Partners
The Carlyle Group
Riverstone Holdings
American International Group
Kinder Morgan22.0
742007 Kohlberg Kravis Roberts
Stefano Pessina
Alliance Boots22.0
752006 Bayer Schering AG21.5
762000 Verisign Network Solutions21.0
772000 Firstar Corporation U.S. Bancorp21.0
782006 Thomas F. Frist Jr.
Bain Capital
Kohlberg Kravis Roberts
Merrill Lynch Global Private Equity
HCA Healthcare21.0
792006 CVS Caremark RX21.0
802007 Bank of America ABN AMRO 21.0
812000 Unilever Bestfoods20.3
822001 Allianz Dresdner Bank20.0
832006 Ferrovial BAA plc20.0

2010s

Top M&A deals worldwide by value from 2010 to 2019:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
Ref
12013 Verizon Communications Vodafone Group 130.0
22015 Dow Chemical E. I. du Pont de Nemours and Company130.0
32019 United Technologies Raytheon121.0
42015 AB InBev SABMiller107.0
52015 Heinz Kraft100.0
62018 Energy Transfer Equity Energy Transfer Partners90.0
72017 Linde AG Praxair86.0
82016 AT&T Time Warner85.4 —
92015 Cheung Kong Holdings Hutchison Whampoa85.0
102015 Charter Communications Time Warner Cable78.7
112019 Bristol-Myers Squibb Celgene74.0 —
12Acquisition of [21st Century Fox by Disney|2018] The Walt [Disney Company] 21st Century Fox71.3 —
132014 Kinder Morgan Kinder Morgan Energy Partners
Kinder Morgan Management
El Paso Pipeline Partners
71.0
142015 Actavis Allergan, Inc70.5
152015 Royal Dutch Shell BG Group70.0 —
162019 Saudi Aramco SABIC69.1
172017 CVS Health Aetna69.0
182015 Dell EMC Corporation67.0
192018 Takeda Pharmaceutical Shire plc64.3
202019 AbbVie Allergan plc63.0
212019 GlaxoSmithKline Pfizer 62.8
222014 Holcim Lafarge S.A.60.0
232017 Essilor Luxottica58.5
242013 Rosneft TNK-BP55.0
252016 Bayer Monsanto54.5 —
262018 Cigna Express Scripts54.0 —
272019 Groupe PSA Fiat Chrysler50.0
282014 AT&T DirecTV49.0 —
292017 British American Tobacco R. J. Reynolds Tobacco Company49.0
302019 DuPont International Flavors & Fragrances45.4
312016 ChemChina Syngenta43.0
322014 Medtronic Covidien42.9
332015 Teva Pharmaceutical Industries Allergan plc 40.5
342018 Comcast Corporation Sky plc39.0
352018 E.ON SE Innogy SE38.5
362019 Occidental Petroleum Corp Anadarko Petroleum38.0 —
372015 Berkshire Hathaway Precision Castparts37.2
382015 Avago Technologies Broadcom Corporation37.0
39Merger of [Sprint Corporation and T-Mobile US|2018] T-Mobile US Sprint Corporation37.0
402019 Fidelity National Information Services Worldpay, Inc.35.0 —
412018 Harris Corporation L3 Technologies34.0
422018 IBM Red Hat34.0
432016 Shire plc Baxalta32.0 —
442016 Softbank Group Arm Holdings31.4
452012 Glencore Xstrata31.0
462010 GDF Suez International Power30.0
472016 General Electric Baker Hughes30.0
482017 United Technologies Rockwell Collins30.0
492017 Johnson & Johnson Actelion30.0
502019 Yahoo! Japan Line Corporation30.0
512012 T-Mobile US MetroPCS29.6
522011 Express Scripts Medco Health Solutions29.1
532015 ACE Ltd Chubb Corporation28.3
542016 Enbridge Spectra Energy28.0
552019 BB&T SunTrust Banks28.0
562014 Reynolds American Lorillard Tobacco Company27.4
572016 Agrium Potash Corp of Saskatchewan Inc27.0
582019 London Stock Exchange Group Refinitiv27.0
592016 Microsoft LinkedIn Corp26.2
602011 Duke Energy Progress Energy Inc26.0
612019 Charles Schwab TD Ameritrade26.0
622014 Actavis Forest Laboratories25.0
632015 Enbridge Income Fund Enbridge 25.0
642016 Abbott Laboratories St Jude Medical25.0 —
652019 Viacom CBS Corporation25.0
662019 Pfizer Mylan25.0
672017 Unibail-Rodamco SE Westfield Corporation24.7
682013 Michael Dell
Silver Lake Partners
Dell24.4
692010 CenturyLink Qwest Corporation24.0
702012 Ministry of Economy Bankia24.0
712015 VimpelCom CK Hutchison Holdings 24.0
722016 CenturyLink Level 3 Communications24.0
732017 Becton, Dickinson and Company C. R. Bard24.0
742018 Dell VMware23.9
752013 Liberty Global Virgin Media23.3
762017 Visa Inc. Visa Europe23.3
772013 Berkshire Hathaway
3G Capital
Heinz23.0
782014 Numericable SFR23.0
792017 Vodafone Group Idea Cellular23.0
802018 Marathon Petroleum Corp Andeavor23.0 —
812012 Nippon Steel Sumitomo Metal Industries22.45
822014 Facebook, Inc WhatsApp Inc.22.0
832018 Atlantia
Grupo ACS
Abertis22.0
842019 Fiserv First Data22.0
852018 Vodafone Group Liberty Global 21.8
862012 Softbank Group Sprint Corporation21.6
872010 VimpelCom Weather Investments21.5
882019 Global Payments TSYS21.5
892019 Danaher Corporation GE 21.4
902011 Johnson & Johnson Synthes21.3
912010 América Móvil Telmex21.0
922011 Kinder Morgan El Paso Corporation21.0
932015 MPLX MarkWest Energy21.0
942015 AbbVie Pharmacyclics21.0
952018 Keurig Green Mountain Dr Pepper Snapple Group21.0
962011 Sanofi Genzyme20.1
972012 AB InBev Grupo Modelo20.1
982016 Energy Transfer Partners Sunoco Logistics Partners20.0
992016 SACAM Mutualisation Crédit Agricole 20.0
1002018 The Blackstone Group Thomson Reuters 20.0

2020s

Top M&A deals worldwide by value from 2020 to 2029:
RankYearPurchaserPurchasedTransaction value
Inflation adjusted
Ref
1 2025United States

State-owned enterprises

Top M&A deals worldwide by value between state-owned enterprises:
RankYearPurchaserPurchasedTotal asset value
Inflation adjusted
Note
12017 Shenhua Group China Guodian Corporation278.0In August 2017, SASAC announced that China Guodian Corporation and Shenhua Group would be jointly restructured, with Shenhua Group becoming China Energy Investment Corporation and absorbing China Guodian Corporation to become the largest power company in the world by installed capacity.
22015 China Minmetals China Metallurgical Group245.6In December 2016, China continued its consolidation drive, focusing on their mining sector where China Minmetals Corp took over equipment maker China Metallurgical Group Corp. Minmetals was China's biggest steel and base metals trader with revenue of more than $50 billion last year, whilst China Metallurgical Group reported revenues of more than $33 billion.
32017 Sinograin China National Cotton Reserves Corp.213.0In January 2017, the Chinese government confirmed the merger of China National Cotton Reserves Corp and Sinograin as part of their drive to reduce the number of state-owned enterprises to a target of 100.
42018 ChemChina Sinochem120.0Merger of the Chinese state-controlled ChemChina and Sinochem in a deal reported to be worth $120 billion. The merger would create the largest entity in the industrial chemicals industry, overtaking BASF. In January 2020 ChemChina and Sinochem consolidated their agricultural assets into a new holding company, to be called Syngenta Group.
52015 China Power Investment State Nuclear Power Technology Corporation112.6In June 2015 the Chinese cabinet approved plans to merge state-owned China Power Investment with State Nuclear Power Technology increasing the exports of nuclear technology from the country, creating the new entity China Power New Energy Development Company Limited, with assets of more than $112.6 billion and annual revenues of more than $32.6 billion.
62018 China National Nuclear Corp China Nuclear Engineering & Construction99.0Merger of China's second largest nuclear power producer, and their top nuclear power plant builder.
72020 China Oil and Gas Pipeline Network
PetroChina

Sinopec
55.9PetroChina, China's state-owned oil and gas firm, announced it would sell its major oil and gas pipelines and storage facilities to a newly created State-owned enterprise, China Oil and Gas Pipeline Network, for $55.9 billion. This will lead to the creation of a new company, PipeChina, of which PetroChina will own a 29.9% equity stake worth around $21 billion, with the balance of the transaction paid in cash. Sinopec also announced it would sell some oil and gas pipeline assets to PipeChina for around $6 billion, of which over $3 billion will be used for an equity interest stake. After the deals have completed, PipeChina will have a market capitalisation of 500 billion yuan ; PetroChina will own 29.9% of the business, Sinopec 14% and CNOOC Gas and Power will own 2.9%.
82014 CITIC Pacific CITIC Limited50.0CITIC Pacific Ltd completed its acquisition of 100 percent of CITIC Ltd after receiving all necessary regulatory approvals, and became China's largest conglomerate with a market value of about $50 billion.
92000 China Mobile Ltd Beijing Mobile
Shanghai Mobile
Tianjin Mobile
Hebei Mobile
Liaoning Mobile
Shandong Mobile
Guangxi Mobile
34.2China Mobile acquired seven Chinese state-owned mobile communications businesses as part of a consolidation effort.
102020 Ministry of Finance Central Bank of Russia
28.31Russia tapped the Russian National Wealth Fund to buy the central bank's stake in Sberbank, ending years of debate about potential conflicts of interest arising from the central bank controlling the country's top lender.
112008 China Unicom China Netcom24.0The merger took place as part of the first step in the country's reshuffling of its telecom shops.

Largest ever deals which have failed to complete

This lists catalogues M&A deals which were confirmed, but for a number of reasons, failed to complete.
RankYearPurchaserPurchasedTransaction value
Inflation adjusted valueNote
12020 Astra Zeneca Gilead Sciences232.0Astra Zeneca approached Gilead about a merger; however, a combination of a lack of interest from Gilead and the COVID-19 pandemic led to any further talking being dropped. The deal also floundered due to the potential to distract both companies from their own pipelines and ongoing COVID-19 vaccine efforts.
22019 Altria Philip Morris International200.0The merger was called off after a chilly reaction from investors, vaping related illnesses, and Altria's increasingly scrutinized $12.8 billion investment in vaping leader Juul.
32015 Pfizer Allergan, plc160.0The deal fell through over changes made to tax inversion legislation by the Government of the United States.
42008 BHP Billiton Rio Tinto148.0As commodity prices fell in value, the deal became too risky for BHP Billiton to complete.
52017 Kraft Heinz Unilever143.0Kraft's offer was an 18% premium to Unilever's closing share price the day before the announcement, however Unilever Executives claimed the deal undervalued the company, as well as job-cut implications and regulator approval issues. The bid was formally dropped on February 19, citing the complexities of acquiring control in a Dutch entity without the support of shareholders.
62023 Cigna Humana140.0The deal talks ended due to the parties not being able to agree on price. Also governmental antitrust action was a concern.
71999 MCI WorldCom Sprint129.0The US Department of Justice and European Commission prohibited the merger on competition grounds, with the DoJ filing a lawsuit against the transaction.
82014 Pfizer Astra Zeneca123.0Significant concerns were raised by the Government of the United Kingdom over job security, in the end leading to a deal being abandoned due to resistance from the AstraZeneca Board.
92018 Broadcom Qualcomm121.0Qualcomm claimed that Broadcom had undervalued the business but did propose to meet Broadcom officials, with the initial offer of $121 billion. On February 21, Broadcom reduced their offer to $117 billion in light of Qualcomms increased bid for NXP Semiconductors.
102018 Broadcom Qualcomm117.0On February 21, Broadcom reduced their offer to $117 billion in light of Qualcomms increased bid for NXP Semiconductors. The deal was effectively blocked after US President Donald Trump blocked any deal based upon national security grounds.
112009 BHP Billiton Rio Tinto 116.0Mining giants Rio Tinto and BHP Billiton abandoned a controversial merger of their Australian iron ore operations after anti-competition complaints from regulators and top customers including China.
121999 MCI WorldCom Sprint111.0The Board of Sprint claimed that the first deal undervalued the company and thus rejected the proposal.
132025 Paramount Skydance Warner Bros. Discovery108.4Warner Bros. Discovery's board rejected the hostile takeover bid and called it "illusory" as it accused Paramount Skydance of misleading shareholders about its financing.
142014 Pfizer Astra Zeneca106.0AstraZeneca claimed the deal undervalued the company.
152018 Broadcom Qualcomm103.0$130 billion with assumed debt, Qualcomm shareholders would get $60 in cash and $10 per share in Broadcom shares. Qualcomm rejected Broadcom's $103 billion takeover bid, saying the offer “dramatically” undervalued the U.S. company.
162006 Kohlberg Kravis Roberts
Texas Pacific Group
The Home Depot100.0In a filing with the Securities & Exchange Commission, Home Depot said that its board "unanimously" supports the management team and its current strategy. The potential world record LBO bid never came to fruition after that.
172014 Pfizer Astra Zeneca98.9AstraZeneca claimed the deal undervalued the company.
182016 Honeywell United Technologies90.0Honeywell dropped a bid to acquire United Technologies, citing potential regulatory hurdles.
192007 Barclays ABN AMRO89.6Barclays lost out after RBS Group, Fortis, and Banco Santander bid $98 billion with the plan to break ABN AMRO between the three banks.
201999 Pfizer Warner-Lambert82.4Pfizer made a hostile bid, just after the announcement of a $65 billion deal with American Home Products, the eventual purchase price would be in excess of $90 billion.
211999 Deutsche Telekom Telecom Italia81.0Olivetti was able to sway key Telecom Italia shareholders and win control of 51% of shares, killing the proposed merger of the telecommunication giants.
222014 21st Century Fox Time Warner80.021st Century Fox abandoned its takeover of Time Warner, due to the unwillingness of the Time Warner Board to engage with the Fox executives. This also caused a sharp dip in Fox's stock price which made a deal unattractive to Fox shareholders.
231998 American Home Products SmithKline Beecham77.0The deal was reportedly killed in response to British regulators who feared losing jobs to a proposed U.S. headquarters location.
242019 KKR Walgreens Boots Alliance70.0KKR did not follow through with a formal bid as the potential world record LBO was simply deemed too large.
252021 Unilever GlaxoSmithKline 68.4Unilever made the offer for Glaxo's household brands unit in late 2021 but Glaxo's board and Pfizer, which owns a minority stake in the business, rejected the bid as too low.
262009 Xstrata Anglo American plc68.0Anglo American rejected rival mining group Xstrata's “merger of equals” proposal, knocking a no-premium marriage and a combination with what it regarded as Xstrata's inferior mines.
272004 Comcast Disney66.0Comcast executives abandoned the deal to buy Walt Disney after both investors and Disney executives failed to agree on the acquisition.
281999 Warner–Lambert American Home Products65.0Following the merger announcement, Pfizer filed a complaint against Warner-Lambert and initiated an ultimately successful hostile takeover. Pfizer was looking to secure the full rights to Lipitor which was co-marketed with Warner-Lambert.
292018 Comcast 21st Century Fox65.0Main Article: Acquisition of 21st Century Fox by Disney
302018 Takeda Pharmaceutical Shire62.5Third bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalued the company, its growth prospects as well as pipeline.
312018 Takeda Pharmaceutical Shire62.1Fourth bid with enhanced cash component, super-ceded by a fifth bid on April 24.
322018 Takeda Pharmaceutical Shire61.0Second bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalued the company, its growth prospects as well as pipeline.
332002 Comcast MediaOne60.0Comcast initially bid $60 billion in stock for MediaOne but AT&T trumped them with a better offer of $62 billion in cash and stock.
342020 NextEra Energy Duke Energy60.0NextEra Energy approached Duke Energy about a possible merger; however, Duke Energy rejected the bid. Even had Duke Energy accepted, the deal would have been unlikely to close due to regulatory hurdles particularly in the Carolinas, and Florida.
352018 Takeda Pharmaceutical Shire58.2First bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalued the company, its growth prospects as well as pipeline.
362025 Paramount Skydance Warner Bros. Discovery57.0Warner Bros. Discovery CEO David Zaslav believed the company was worth $30 per share, or around $70 billion, and convinced the board to reject the bid. Paramount Skydance CEO David Ellison is expected to increase his bid.
372007 E.ON Endesa54.0Intervention from the Spanish Government delayed the planned takeover and E.ON's offer was eventually trumped by a $65.3 billion deal with Enel and Acciona. The two divested several Spanish assets to E.ON upon completion.
382014 AbbVie Shire54.0The deal fell through over changes made to tax inversion legislation by the US Government.
392014 Valeant Pharmaceuticals Allergan Inc54.0Allergan argued that the Valeant cash-and-stock offer, would hurt its shareholders, given the Canadian drug-maker's history of cutting research and development spending at companies it acquires. Allergan would be acquired by Actavis and form Allergan.
402017 Disney 21st Century Fox52.4Main Article: Acquisition of 21st Century Fox by Disney
411999 Elf Aquitaine TotalFina50.0After TotalFina's hostile bid for Elf Aquitaine, Elf Aquitaine submitted their own hostile bid for TotalFina. They eventually consummated a 'friendly' merger.
422008 Bharti Airtel MTN Group50.0Bharti called off negotiations after MTN turned Bharti's takeover plan upside down, proposing to take over Bharti instead.
432024 BHP Group Limited Anglo American plc49.18Anglo American rejected the third bid from BHP in a month. The structure of any deal and the fate of Anglo's businesses in South Africa remain big obstacles, with Anglo chairman Stuart Chambers highlighting concerns about completion and execution risks in BHP's proposal.
442007 Teachers' Private Capital
Providence Equity
Madison Dearborn Partners
BCE Inc48.5Due to the tightening of the credit market caused by the subprime mortgage crisis, the investment banks financing the deal – led by Citigroup, Deutsche Bank and the Royal Bank of Scotland – started negotiations on May 16, 2008, to revise the terms of their loans with greater interest rates and greater restrictions to protect themselves. On November 26, 2008, BCE announced that KPMG had informed BCE that it would not be able to issue a statement on the solvency of the company after its privatization, one of the required conditions of the buyout. As a result, the purchase was cancelled.
452015 Anthem Cigna48.0The transaction was blocked by US Federal Judges on grounds of diminished competition and the 'irreparable harm' that would be done to the US health insurance market.
462008 Microsoft Yahoo!47.5Yahoo pulled out of talks with Microsoft after they agreed to let Google sell search ads on its site.
472015 Monsanto Syngenta46.5Monsanto dropped its hostile bid for Syngenta, refocusing on its five-year plan to double earnings and avoid a backlash from large shareholders. Subsequently, Bayer purchased Monsanto, with ChemChina acquiring Syngenta.
482014 Comcast Time Warner Cable45.2Main Article: Attempted purchase of [Time Warner Cable by Comcast]
491996 Credit Suisse Union Bank of Switzerland45.0UBS not only spurned the offer from CS Holding but insisted that it had been "taken aback" by its rival's offer.
502000 General Electric Honeywell45.0The EU Competition commission recommended blocking the deal, arguing that the merger would reduce competition – specifically within the aerospace industry – which could end up generating higher prices for consumers.
512012 EADS BAE Systems45.0Lack of investor support, coupled with opposition from the UK Government, German Government and the French Government.
522018 Qualcomm NXP Semiconductors44.0Qualcomm raised their offer from $110 per share to $127.50 per share after pressure from activist investors. In 2018, China failed to approve the merger, leading to its cancellation by Qualcomm on July 26, 2018.
532024 BHP Group Limited Anglo American plc42.7Anglo American rejected the improved bid saying that it "continues to significantly undervalue".
541999 Banque Nationale de Paris Paribas
Société Générale
41.0BNP launched a dual bid to create a European super-bank and to break up the planned Paribas-SocGen merger. The three party merger failed after SocGen shareholders did not tender enough shares. Paribas did successfully merge with BNP.
552000 United Technologies Honeywell40.0United Technologies ended merger talks with Honeywell after it had emerged that General Electric had dealt a counter-offer.
562008 France Télécom TeliaSonera40.0France Telecom withdrew its bid after the two parties could not reach an agreement on the terms of the deal.
572010 BHP Billiton PotashCorp40.0Potash Corp rejected the offer claiming it undervalued the company.
582015 Teva Pharmaceutical Industries Mylan40.0In April, Teva offered to acquire Mylan for $40 billion, only a fortnight after Mylan offered to acquire Perrigo for $29 billion. Teva's offer for Mylan was contingent on Mylan abandoning its acquisition of Perrigo. Mylan stated in June 2015 that Teva's disclosure that it had a 1.35 percent stake in Mylan violated US anti-trust rules.
592020 Nvidia Corporation SoftBank Group 40.0Nvidia and the Softbank-owned Arm Holdings abandoned the attempted merger due to "significant regulatory challenges" as the US Federal Trade Commission filed a lawsuit to block the merger. Softbank stated that Arm is likely to IPO instead.
602011 AT&T T-Mobile US39.0On August 31, 2011, the Department of Justice Antitrust Division|Antitrust Division] of the United States Department of Justice formally announced that it would seek to block the takeover, and filed a lawsuit to such effect in federal court. Main Article: Attempted purchase of T-Mobile USA by AT&T
612019 Hong Kong Exchanges and Clearing London Stock Exchange39.0$39 billion takeover proposal was rejected by the Board of the London Stock Exchange.
622024 BHP Group Limited Anglo American plc39.0Anglo American rejected the bid saying that it significantly undervalued the company.
632024 Alimentation Couche-Tard Seven & i Holdings38.57-Eleven operator Seven & i said the takeover proposal was not in the best interest of shareholders and was likely to face significant antitrust challenges in the U.S., where the combined company would be the convenience store industry's biggest by a considerable margin.
641999 Global Crossing US West37.0Global Crossing lost out on acquiring US West after Qwest outbid them.
652015 Aetna Humana37.0The transaction was blocked by US Federal Judges on grounds of diminished competition and the 'irreparable harm' that would be done to the US health insurance market.
662010 Prudential AIA Group35.5Prudential tried to lower their bid to $30 billion following shareholder opposition but AIG said they would “not consider” any alterations to the deal. Prudential subsequently withdrew the deal.
672014 Omnicom Publicis35.0Proposed merger as Publicis [Omnicom Group]. Omnicom wanted their people to occupy the CEO, CFO and general counsel jobs. Uncertainty over the deal lead to a drop in revenue of $1.5 billion in the period.
682019 Fiat Chrysler Renault35.0At the end of May 2019, news broke of a potential $35 billion merger-of-equals between Renault and Fiat Chrysler, aiming to create the third largest car manufacturer. The deal allegedly failed due to Nissan's abstaining from voting on the merger proposal and the French Government's stake in Renault.
692020 Xerox HP Inc35.0Xerox's second bid of $35 billion consisting of cash-and-stock saw an increase of $2 per share to buy HP. HP declined and told shareholders it would return $16 billion to shareholders in the next three years to ward off a hostile takeover attempt.
701998 American Home Products Monsanto34.4The companies said that the deal was abandoned because it was not in the best interest of the shareholders. Yet, people close to the deal said the merger was terminated because of the power struggle between the two companies’ chairmen.
711999 Bank of Scotland NatWest34.3NatWest rejected the deal saying that it undervalued the company. They would end up being acquired by The [Royal Bank of Scotland Group] for $42.5 billion.
722018 Comcast Sky plc34.0Comcast offered £17.28 per share, exceeding Fox's offer of £15.67 per share, in a blind auction set up by the UK's Takeover Panel.
732021 Canadian National Railway Kansas City Southern33.6After US regulators rejected a key aspect of the proposed deal, Kansas City Southern notified Canadian National Railway that they were going to terminate the agreement. Kansas City Southern accepted Canadian Pacific Railway's revised offer of $31 billion which had previously been rejected in favor of the Canadian National Railway bid.
742019 Xerox HP Inc33.5Xerox's $33.5 billion cash-and-stock offer to buy bigger rival HP was declined, with HP indicating it might make its own counter-offer for Xerox.
751994 Bell Atlantic Tele-Communications Inc33.0The companies blamed the deal's collapse on the FCC which voted to reduce cable television rates against the protests of the cable TV industry. The FCC denied this vehemently with an FCC commissioner James Quello saying “They may be paying too much for it .”
762016 Energy Transfer Equity Williams Companies33.0Energy Transfer Equity terminated the merger agreement with Williams after ETE's counsel were unable to declare the deal as tax-free.
772019 Chevron Corporation Anadarko Petroleum33.0On April 12, Chevron Corporation announced it would acquire Anadarko for $33 billion. However, on April 24, Occidental Petroleum announced a counter-offer to Chevron's previous announcement, offering $38 billion – Occidental's offer would ultimately prove successful.
782018 21st Century Fox Sky plc32.5Fox raised their offer to $32.5 billion for Sky.
792016 Deutsche Börse London Stock Exchange Group31.0The merger was prohibited on competition grounds by the EU Commission.
802018 Comcast Sky plc31.0Comcast offered $31 billion for Sky plc which Fox trumped.
812021 Canadian Pacific Railway Kansas City Southern31.0Kansas City Southern rejected the bid as the Canadian National Railway bid was still the superior offer.
822000 Deutsche Bank Dresdner Bank30.0Dresdner Bank abandoned the deal when the two couldn't agree on what to do with Dresdner's investment bank. Deutsche Bank wanted to sell most of it, but Dresdner did not want that to happen.
832020 Aon plc Willis Towers Watson30.0Aon and Willis Towers Watson called off their merger after reaching an impasse with US regulators.
842006 Aviva Prudential29.6Aviva's all-stock proposal was rejected by the Prudential Board, despite Aviva offering a premium to the current share price.
852017 PPG Industries Akzo Nobel29.5Akzo again rejected PPG's bid, citing the deal still undervalued the company, as well as potentially facing antitrust risks, and not addressing other concerns such as "cultural differences".
862004 Sumitomo Mitsui Financial Group UFJ Bank29.2UFJ Bank rejected the proposal as it had already committed to a merger with Mitsubishi Tokyo Financial Group.
872017 Emerson Electric Rockwell Automation29.0Rejected as Rockwell believed the offer still undervalued the company.
881997 GTE MCI28.0GTE made an unsolicited offer of $28 billion all-cash to MCI two weeks after Worldcom bid $30 billion in stock. Worldcom would end up winning with a $37 billion bid.
892001 Lloyds TSB Group Abbey National28.0The British Government blocked the proposed merger as they believed it would be against the public interest.
902005 Gas Natural Endesa28.0Endesa rejected the bid saying it was "manifestly insufficient". Endesa would be acquired for $65.3 billion by Enel and Acciona.
912016 Canadian Pacific Norfolk Southern28.0Canadian Pacific Railway scrapped the deal after the U.S. Justice Department urged the Surface Transportation Board to reject a voting trust arrangement that was part of the bid. U.S. lawmakers, the U.S. military, and UPS and FedEx all opposed the merger as well.
922016 Halliburton Baker Hughes28.0Oilfield services provider Halliburton and smaller rival Baker Hughes terminated their $28 billion merger deal after opposition from U.S. and European antitrust regulators.
932007 Alcoa Alcan27.6Alcan rejected the offer as they believed it did not reflect the full value of the company and advised shareholders not to tender any of their shares to the bid.
942017 Emerson Electric Rockwell Automation27.6Rejected as Rockwell believed the offer undervalued the company. The $27.6 billion was made up of $107.50 per share in cash with the rest of the balance being paid in 225 million shares of Emerson stock.
952001 Prudential American General26.5Prudential's bid of $26.5 billion in stock was reduced to just over $20 billion when Prudential's shares plummeted after the announcement. AIG then stepped in and offered $23 billion which was accepted by American General.
962017 PPG Industries Akzo Nobel26.1Akzo rejected the unsolicited offer, claiming the revised offer was still too low. Akzo claimed that key stakeholder issues as well as uncertainties and risks that had already been raised in response to earlier offers had not been answered.
972007 Express Scripts Caremark Rx26.0Express Scripts bid $26 billion for Caremark Rx but refused to pay a $675 million breakup fee to void Caremark's pending merger with CVS. Even though Express Scripts offered $4 billion more than CVS, CVS and Caremark Rx completed their merger.
982015 Mylan Perrigo26.0In order for the hostile takeover to go through successfully, Mylan needed 50% of Perrigos shares to be tendered under the deal. However, only 40% or 58 million shares were tendered and the hostile takeover fell through.
992002 Hughes Electronics EchoStar25.6US and state anti-trust enforcers filed a lawsuit to halt the deal, claiming that the deal would eliminate competition and adversely effect consumers.
1002013 Dish Network Sprint Corporation25.5Sprint requested a revised offer but Dish stated that it was not practical to do so.
1012004 Johnson & Johnson Guidant25.4Johnson & Johnson announced that it was acquiring Guidant on December 15, 2004, for $76 a share, with the deal being approved on April 27, 2005, by Guidant shareholders. However, on May 25 of the same year, Guidant reported 26 cases of implantable defibrillator failure, including a death. Johnson & Johnson announced the possibility of them pulling out from the deal, Guidant then sued Johnson & Johnson in an attempt to enforce the acquisition. However, they later re-negotiated a lower price of $21.5 billion.
1022006 Boston Scientific Guidant25.0A day after Johnson & Johnson raised their price for Guidant to $23.2 billion, Boston Scientific announced a further increased offer.
1032007 J.C. Flowers & Co.
Friedman Fleischer & Lowe
Bank of America
JPMorgan Chase & Co.
Sallie Mae25.0Sallie Mae attempted to craft an "alternative transaction" but the proposal was rejected. Subsequently, the takeover was dropped.
1042013 The Blackstone Group Dell25.0Blackstone noted in a letter to Dell's special committee that a "unprecedented 14 percent market decline in PC volume in the first quarter of 2013" worried the firm and didn't line up with Dell's projections for modest industry growth. In addition, Blackstone's evaluation of Dell showed a "rapidly eroding financial profile." Blackstone subsequently withdrew their bid.
1052021 Chubb The Hartford25.0The Hartford rejected two enhanced buyout offers.
106Attempted acquisition of [Albertsons by Kroger|2022] Kroger Albertsons25.0After a three-week trial, U.S. District Judge Adrienne Nelson sided with the Federal Trade Commission and ruled that the merger was likely to remove direct competition between the two grocers, making it unlawful. The two companies subsequently called off the deal.
1072005 Boston Scientific Guidant24.6With the re-negotiated lower price of $21.5 billion between Johnson & Johnson and Guidant, Boston Scientific announced an unsolicited offer of $24.6 billion for Guidant.
1082006 Johnson & Johnson Guidant24.2After Boston Scientific increased their offer to $25 billion, Johnson & Johnson further increased their offer to $24.2 billion.
1092017 PPG Industries Akzo Nobel24.1Akzo rejected the unsolicited offer, claiming the revised offer was still too low.
1101998 Bank of New York Mellon Bank Corporation24.0Bank of New York called off its takeover proposal after Mellon's Board declined to meet with Bank of New York officials to discuss the merger. The two would later merge in 2007.
1112018 Albertsons Rite Aid24.0Albertsons and Rite Aid called off the planned merger after several advisory firms recommended voting against the proposal.
1122021 Chubb The Hartford23.9The Hartford rejected two enhanced buyout offers.
1132022 Prologis Duke Realty23.7Duke Realty rejected the offer calling it "insufficient" despite being Prologis' third bid.
1141988 First Boston
Pritzker family
Philip Anschutz
RJR Nabisco23.38The group's final bid was beat out by Kohlberg Kravis Roberts.
1152021 Chubb The Hartford23.24The Hartford's board of directors unanimously rejected the unsolicited proposed takeover from Chubb stating that the transaction would "not be in the best interests of the company and its shareholders."
1162006 Johnson & Johnson Guidant23.2After the re-negotiated lower price of $21.5 billion was trumped by Boston Scientific's offer of $24.6 billion, Johnson & Johnson raised their offer to $23.2 billion.
1172016 Mondelez International The Hershey Company23.0Mondelez ceased its pursuit of the Hershey Co acquisition after the chocolate company turned down its $23 billion cash-and-stock offer.
1182024 Alphabet Wiz23.0Wiz ended takeover talks, instead choosing to focus on an IPO. Wiz CEO Assaf Rappaport said, "Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice."
1191988 Shearson Lehman Hutton
F. Ross Johnson
RJR Nabisco22.9The group's final bid was beat out by Kohlberg Kravis Roberts.
1201995 Tracinda Chrysler22.8Tracinda, led by Kirk Kerkorian, was unable to come up with the financing in order to complete the deal. Chrysler was able to leverage its relationships with investment banks to block Kerkorian from being able to get the money necessary for the takeover.
1212023 Glencore Teck Resources22.5Copper and zinc miner Teck Resources rejected an unsolicited bid from Glencore, citing a reluctance to expose its shareholders to thermal coal, oil, LNG, and related sectors.
1221996 British Telecom MCI22.0British Telecom held a partial stake in MCI since 1994 and was looking to acquire the entirety of it. Worldcom ended up winning the takeover fight with a $37 billion bid.
1232020 Seven & i Holdings Marathon Petroleum 22.0Seven & i and Marathon agreed to a price of $21 billion, after 5 months of baulking at the deal.
1242021 DraftKings Entain22.0Neither DraftKings nor Entain explained exactly why the deal talks floundered but said in separate statements that they believed strongly in their individual growth prospects. The potential deal was likely hindered by Entain's joint venture with MGM, BetMGM.
1252007 Vornado Realty Trust
Starwood Capital Group
Walton Street Capital
Equity Office21.6The Vornado-led takeover attempt failed after a better bid came from The Blackstone Group.
1262007 Terra Firma Capital Partners
Wellcome Trust
HBOS
Alliance Boots21.6The Terra Firma-led takeover attempt failed after a better bid came from a group led by Kohlberg Kravis Roberts.
1271989 James Goldsmith
Jacob Rothschild
Kerry Packer
British American Tobacco21.0British American Tobacco rejected the deal as it planned to break up the conglomerate which the company's chairman Patrick Sheehy described as “most disadvantageous to the company, its shareholders, customers, policyholders and employees.”
1282014 Bouygues SFR20.6Bouygues offer was soon trumped by Numericable's, who purchased SFR for $23 billion.
1292017 Hochtief Abertis20.1Hochtief launched a bid to rival a lesser one from Atlantia. However, soon after Atlantia and Hochtief's parent company, ACS Group succeeded in the takeover with a joint bid.
1302007 CVC Capital Partners J Sainsbury plc20.0The proposed offer collapsed because of CVC's failure to broker an agreement with the Sainsbury family, owners of a nearly 20% stake, and trustees who demanded it fill a billion pound pension deficit.
1312017 Clariant Huntsman20.0After months of pressure from activist investors, the companies announced they would abandon their merger plans, with investors citing a reduction in shareholder value as the cause.
1322020 Blackstone Inc
Global Infrastructure Partners
Kansas City Southern20.0Kansas City Southern rejected the $20 billion offer from a consortium led by Blackstone Inc and Global Infrastructure Partners.
1332021 Alimentation Couche-Tard Carrefour20.0The two abandoned talks on the proposed merger following stiff opposition from the French finance minister.
1342021 CVC Capital Partners Toshiba20.0A notice for shareholders said the buyout offer "was not, objectively viewed, a bona-fide and feasible acquisition proposal" under Japanese regulations. Toshiba therefore sent CVC a "please explain" letter to seek more information. Toshiba said CVC's reply "contained no specific and detailed information capable of detailed evaluation."
1352022 Adobe Figma20.0The two companies abandoned the deal, with Adobe stating that there was "no clear path to receive regulatory approvals from the European Commission and the UK Competition and Markets Authority."