by Wolf Richter
Biggest losers: Investment Banks.
There have been 12 announced mergers and acquisitions with a deal size of $100 billion or more in the world ever. Five of these blockbuster deals have been withdrawn — two of them in 2016 alone!
Pfizer’s $160-billion acquisition of Allergan, the second largest merger ever when announced in November 2015, entered the M&A annals on Wednesday, when the company announced that it would abandon the deal — the largest deal failure ever.