Where did all the mega-mergers go? It is now over a year since the most recent world-record-breaking corporate marriage was announced: aol's purchase of Time Warner. Even the value of that deal, by the time it closed this month, was down by more than $80 billion from the day it was unveiled. In 2000, only one other merger was worth over $50 billion—of Glaxo Wellcome and SmithKline Beecham, announced a week after the aol deal. Investment bankers are talking nostalgically about 1999, when seven mergers weighed in at more than $50 billion apiece.
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