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Article: Less Is More: Merger Stocks Were Quarter's Best
- Article from:
- International Herald Tribune
- Article date:
- February 6, 1999
- Author:
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Anne Bagamery
International Herald Tribune
02-06-1999
Miki Tanikawa contributed to this article.
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IN HIS book ''Getting By on $100,000 a Year (and Other Sad Tales),'' the journalist Andrew Tobias, contemplating the frenetic merger activity of the 1970s, concocted a tongue-in-cheek essay about corporate consolidation run amok called, ''The Day They Couldn't Fill the Fortune 500.''
Mergers and acquisitions may not have reduced the world's publicly traded industrial companies to less than 500 yet. And more than 20 years after Mr. Tobias mused about the proliferation of such previously unthinkable megadeals, the jury is still out as to whether they create shareholder value.
But there is little ...