When a mega deal gets announced the impact is felt far beyond the two companies involved. For CEOs in the same industry it’s like a large, threatening clap of thunder. The deal engenders fear. They’d love to crawl under the covers and ignore it but they can’t. Business plans are cast aside with the cosy certainties that informed them. It’s time to go back to the drawing board.
For the asset management industry Merrill Lynch’s swap of its fund business for a 49.8%
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