The volume of megamergers in 1998 was unprecedented. With more than 7,700 transactions and declared deals valuing about $1.2 trillion, the M&A market exceeded by 84 percent the all-time record of $650.7 billion, set in 1997, according to Houlihan Lokey’s Mergerstat, which tracks deals comprising U.S. companies.
To put it in perspective, here are a few barometers—$1.2 trillion:
• Is 30,000 times the $40 million spent on the Kenneth Starr investigations;
• Is 1,200 times the projected $1 billion in first-year sales of Viagra;
• Would pay for 78 million new Volkswagen Beetles (at a base price of $15,200);
• Is 37,500 times the $32 million in advertising sold for the final episode of “Seinfeld”;
• Is 13,483 times the 1998 Baltimore Orioles payroll of $89 million—the largest payroll in major league baseball;
• Is 2,400 times the $500 million cost of the 70-hour aerial assault on Iraq; and
• Is a mere 16 times Bill Gates’ reported wealth of $73.4 billion.
