Mergers headed for 1st-half record

May 18, 1999|By BLOOMBERG NEWS

NEW YORK -- Mergers are headed for a record first half as companies race to stake out the Internet industry, low crude prices force oil producers together and disappearing European barriers spawn new multinationals.

Companies report 10,411 transactions valued at $1.22 trillion so far this year, making the first half already the second-highest six months for mergers and acquisitions by dollar volume, according to Securities Data Co. The half will surpass the all-time record, set in the first six months of 1998, if another $171 billion in transactions is announced by June 30.

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