Mergers, Concentration, and the Erosion of Democracy
AbstractA new surge of corporate concentration is in process in the United States and abroad, driven in large measure by a restructuring of global markets through mergers and acquisitions (M&As). Announced worldwide merger deals reached $3.4 trillion in 1999, an amount equivalent to 34 percent of the value of all industrial capital (buildings, plants, machinery and equipment) in the United States in 1999. Of this total, nearly a third were cross-border transactions that involved companies based in different countries, up from an average of one-fourth of all mergers during most of the 1990s.
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