The Top U.S. Corporate Mergers

Top 15 U.S. corporate mergers, showing target name, acquirer name, value in dollars unadjusted for inflation, year of completion, or date announced if still pending:

1. RJR Nabisco Inc., merger with Kohlberg Kravis Roberts & Co., $25 billion, completed in 1989.

2. Bell Atlantic Corp. agrees to combine with Nynex Corp. in an exchange of stock valued at $22.7 billion, announced April 22, 1996.

3. Walt Disney Co. buys Capital Cities/ABC for $19 billion in cash and stock, completed in 1996.

4. SBC Communications Inc. agrees to buy Pacific Telesis Group for $16.7 billion in stock, announced April 1, 1996.

5. WorldCom Inc. agrees to acquire MFS Communications Co., about $14.4 billion, announced Aug. 26, 1996.

6. Wells Fargo & Co. buys First Interstate Bancorp for $14.2 billion, completed in 1996.

7. Warner Communications Inc., merger with Time Inc., $14.11 billion, completed in 1990.

8. Kraft Inc., merger with Philip Morris Inc., $13.44 billion, completed in 1988.

9. Gulf Corp., merger with Standard Oil Co. of California, $13.4 billion, completed in 1984.

10. Boeing Co. agrees to buy McDonnell Douglas Corp. for $13.3 billion, announced Dec. 15, 1996.

11. Chase Manhattan merger with Chemical Banking Corp., $13 billion, completed in 1996.

12. Squibb Corp., merger with Bristol-Myers Co., $12.09 billion, completed in 1989.

13. AT&T Corp. buys McCaw Cellular Communications, $11.5 billion, completed in 1994.

14. Getty Oil Co., merger with Texaco Inc., $10.12 billion, completed in 1984.

15. Martin Marietta Corp. merger with Lockheed Corp., $10 billion, completed in 1995.

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