Value of Mergers Rises: A wave of...

Value of Mergers Rises: A wave of megadeals boosted the value of mergers and acquisitions in the third quarter by 36% to $71.9 billion from $52.9 billion in the year-ago period, according to a study released W. T. Grimm & Co., a unit of Merrill Lynch. In the quarter, the number of $1-billion-plus deals unveiled doubled to 16 from the 1988 period. The largest buyout in the quarter was Bristol-Myers Co.’s $12-billion offer for Squibb Corp. The No. 2 deal was the proposed $4.5-billion merger of Sovran Financial Corp. and Citizens & Southern Corp.