1. The document discusses several large mergers and acquisitions deals ranked by deal value, with the largest being America Online-Time Warner at $179.86 billion. 2. It also summarizes the Procter & Gamble-Gillette merger, which had a deal value of $54.91 billion. The merger was an all-stock deal that aimed to generate synergies between the two companies. 3. The document outlines some of the challenges large mergers and acquisitions face, such as ensuring top-line growth, delivering promised synergies, retaining employees, and managing cultural and communication issues between the combining companies.

1. Merger & Amalgamations ! Ashok Chhabra

2. World’s Largest Mergers *At date of announcement (Excludes Debt) $54.91 Jan. 28, 2005 Procter & Gamble-Gillette 15. $60.29 bn Jan. 18, 1999 Vodafone Group-Air Touch 10. $61.63 bn Apr. 13, 1998 NationsBank-BankAmerica 9. $62.59 bn May 11, 1998 SBC Communications-Ameritech 8. $72.56 bn Apr. 6, 1998 Traveller’s Group-Citicorp 7. $74.35 bn Oct.28, 2004 Royal Dutch-Shell Transport 6. $75.96 bn Jan.7, 2000 Glaxo Wellcome-Smithkline Beecham 5. $78.95 bn Dec. 1, 1998 Exxon-Mobil 4. $89.17 bn Nov. 4, 1999 Pfizer-Warner Lambert 3. $164.75 bn Jan. 10, 2000 America Online-Time Warner 2. $179.86 bn Nov. 14, 1999 Vodafone AirTouch-Mannesmann 1. Deal Value* Announcement Date Acquirer-Target Rank

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