United merged with Continental; French drug maker Sanofi-Aventis asked to buy the biotech firm Genzyme; Unilever bought Alberto Culver; Brazilian private equity firm 3G bought Burger King; the place of the 80-year-old legend Warren Buffett of Berkshire Hathaway was replaced by 39-year-old hedge fund manager and so on are among the biggest business deals in 2010.
MetLife Picks Up a Piece of AIG
Robert Benmosche, the former CEO of MetLife, decided to sell AIG\’s international life insurance company Alico to his former employer in order to turn around AIG. The deal generated $ 16 billion for AIG, and AIG now has nearly $ 40 billion in cash and its stock increased nearly 40% in the first ten months of the year.
However, Benmosche may not stay to complete his turnaround but go to be treated for cancer.
United Merges with Continental
The year 2010 witnesses the big unity in the airline industry when United and Continental decided to create the world\’s largest airline with a $ 3.2 billion hook-up.
The combination is reported to bring back over $ 30 billion in revenue a year
Sanofi-Aventis Takeover of Genzyme
The French drug maker Sanofi-Aventis asked to buy the biotech firm Genzyme for $ 18.5 billion. If the deal is successful, it will become the biggest takeover of the year.
Unilever Buys Alberto Culver
Unilever bought Alberto Culver for $ 3.7 billion in September. The deal brought the producer of Dove and Pond\’s and the maker of haircare products TRESumme and VO5 together.
Private Equity Firm 3G Buys Burger King
Brazilian private equity firm 3G bought Burger King for $ 3.3 last summer. Burger King was the second big burger deal of the year in fastfood business.
IBM Sells 1% Bonds
IBM earned $ 1.5 billion dollars selling bonds and bearing an interest rate of just 1% in summer. The IBM’s deal has made a number of other large companies sell bonds at similarly low rates.
General Motors\’ IPO
GM\’s initial public offering is expected to create about $ 23.1 billion. The deal has become the biggest IPO ever. It also gives United States the opportunity to recover its economy
Agriculture Bank of China Goes Public
Agricultural Bank of China initial public offering last summer made it become one of the most valuable banks in the world. The bank is also a symbol of China\’s prosperity.
Warren Buffett Acquires a Successor
A 39-year-old hedge fund manager has been hired to replace the position of the 80-year-old legend Warren Buffett of Berkshire Hathaway.
Southwest Buys Airtran
Southwest the nation\’s largest low-cost carrier decided to buy its smaller rival AirTran for $ 1.4 billion. The deal expands Southwest\’s geographic reach and also reacts to other recent airline combinations.
Biggest Problems Facing BusinessIn2010
The Biggest Threat To Small BusinessIn2010
Biggest Acquirers in2010
I am the economic expert and analyze the economic situations in the world. Currently, I often address lectures on economic solutions to students and supply advice for companies and firms.