Here's what Tampa Bay on-line said yesterday:
1/30/98 -- 8:31 PM
The drug industry's biggest mergers and
acquisitions
The drug industry's biggest mergers and acquisitions Based on their huge
market values, a combination of British drug companies SmithKline
Beecham PLC and Glaxo Wellcome PLC would not only be the industry's
biggest merger, but also would dwarf the largest corporate buyout on
record, the planned purchase of MCI Communications Corp. by
WorldCom Inc. for stock valued at about $37 billion.
A merger agreement has yet to be announced and the companies have not
disclosed the terms they are discussing, but SmithKline has a market value of
about $70 billion and Glaxo Wellcome $96 billion.
These are the biggest mergers and acquisitions to date in the drug industry,
with acquirer and target company, followed by date announced and value of
transaction:
-Sandoz AG and Ciba Geigy, May 7, 1996, $30.09 billion.
-Glaxo Holdings PLC and Wellcome PLC, Jan. 20, 1995, $14.28 billion.
-Bristol-Myers Co. and Squibb Corp., July 27, 1989, $12.09 billion.
-Roche Holding AG and Corange Ltd, May 26, 1997, $11 billion.
-American Home Products Corp. and American Cyanamid Co., Aug. 2,
1994, $9.56 billion.
-Beecham Group PLC and SmithKline Beckman Corp., March 31, 1989,
$7.92 billion.
-Hoechst AG and Marion Merrell Dow Inc., Feb. 28, 1995, $7.26 billion.
-Shareholders and Zeneca, July 30, 1992, $7.02 billion.
-Upjohn Co. and Pharmacia AB, Aug. 21, 1995, $7 billion.
-Dow Chemical Co. and Marion Laboratories Inc., July 17, 1989, $6.21
billion.
Source: Securities Data Co. |
