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![]() Entries tagged "Deals of the Year"A year unlike any otherTurmoil. Chaos. Bailouts. Conventional deals in 2008 were rare. Many of those that mattered, like Bear Stearns and J.P. Morgan Chase, involved the government. A look backIn which we reappraise Deals of the Year from a very different time. How bad was the ABN-Amro deal? The turning pointThe decision to send Lehman into bankruptcy marked the shift from a financial crisis to a market meltdown. Blundering herdKen Lewis thought he had a dream deal when he nabbed Merrill Lynch. By year's end he knew he had a nightmare. The fallenIn which we recall some of the year's biggest private equity busts. Linens' heavy loadApollo Management rescued the ailing retailer but saddled it with debt. Exit papersWhen Mars signed a deal to buy Wrigley, it reserved the right to skip out. That has since become the industry standard. Dead endThe sale of Reed Business Information seemed like a sure thing. That proved to be a mistake. Gnarly nationalizationThe U.K. took control of Royal Bank of Scotland barely a year after it led the world's most expensive financial services takeover. Pyrrhic victoryRio Tinto rebuffed BHP at the top of the market but agreed to take Chinalco capital after the crash. Paying for splitsvilleThe breakup of the Hexion buyout of Huntsman was bitter indeed, not least for Apollo Management. A toast to the brewersInBev executed a pitch-perfect acquisition of Anheuser-Busch, which was no pushover either. | ||||||||||||||||
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