Merger and Acquisition Deals

Paper Summary:

Beginning in the mid- to late-1990s, merger and acquisition (M and A) deals dominated the bank investment products and related businesses. Such mergers were seen as having the capacity to create financial services conglomerates offering everything from checking accounts to pension fund management. One proposed merger is that between Fleet Bank (now Fleet Boston Corp) and John Hancock Mutual Life Insurance Co. The paper considers this merger, offering an overview of the industry in which the firms are situated, company backgrounds and management, potential acquisition pricing and financing, benefits of the acquisition and post-merger operating strategies.

From the Paper:

"D'Alessandro (1997) predicted some three years ago that life insurance companies would find themselves in the position of needing affiliations with other financial service providers in order to remain competitive in the new financial services sector. It is for these reasons that consolidation in the banking sector as well as mergers and acquisitions across the broad scale of the financial services/investment sectors have become characteristic of the industry environment today."

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