The recent flurry of mergers and acquisitions is a sure sign that a bull market is back - but it is not like that of the 1990s
There are three certain signs that a bull market is back. Soaring share prices? Check. Record profits for investment banks? Check. Are mergers and acquisitions booming as chief executives see the opportunity to indulge in some deal-making? Check. Now, we have got that as well. Sanofi-Synthelabo kicked off last week with a e47.8bn ($60.4bn) hostile bid for Aventis to bring together France's two biggest drug manufacturers, in a combination that would create the world's third-largest drugmaker. If that happens, it will be the biggest merger in Europe since 2000, when Glaxo Wellcome bought Smi...
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