Merger Deals May Take Months, But Investors Keep Watching

Last year, more than 9,000 merger deals were forged (compared with only 1,877 in 1991), but the verdict is still out as to whether shareholders will ever look back and
celebrate the record. A report published for BusinessWeek by the consulting firm Corporate Branding, indicates that less than half of the mergers consummated during the
'80s and '90s have created real value for shareholders. The report also cites claims by McKinsey & Co. that nearly 80 percent of mergers don't earn back the costs of the
deals themselves.