8 Biggest Corporate Acquisitions Of All Times
#3 Exxon Acquires Mobil- $80.3 Billion:
One of the biggest and the well-known oil companies in the world is ExxonMobil. Exxon and Mobil were born in 1911 after the supreme court decision to break up John D. Rockefeller’s Standard Oil Company into 34 parts. On 30 November 1999, Exxon and Mobil joined to form Exxon Mobil Corporation.
Upon this merger, then chairmen and CEOs, Lee Raymond and Lou Noto of the respective companies said, “This merger will enhance our ability to be an effective global competitor in a volatile world economy and in an industry that is more and more competitive.”
#4Vodafone Airtouch Acquires Mannesmann- $185.1 Billion:
In 1999, when Vodafone merged with Airtouch Communications, it led to one of the largest mobile businesses in the world.
In 1999 itself when Mannesmann began operating in Vodafone’s domestic territory, UK; Vodafone stepped further with a hostile takeover and officially in 2000, Vodafone acquired MannesmannAG and its businesses in Germany and Italy.
This merger of Vodafone and Mannesmann, made Germans unhappy as they viewed a UK company playing a dominant role in its domestic market.
#5 Altria Group Spins off Phillip Morris International- $107 Billion:
Once known as Philips Morris Companies Inc., it rebranded itself with the name Altria Group Inc. in 2003. Four years later after the change Altria sold off Phillip Morris International from Philip Morris USA.
Altria remains in the tobacco business and owns Phillip Morris USA, among other tobacco companies, but sold off Philip Morris International for a cool $107 billion in 2007.
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