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Deals of the Century
Book

Deals of the Century

Wall Street, Mergers, and the Making of Modern America

Wiley, 2003 plus...

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Editorial Rating

6

Qualities

  • Comprehensive
  • Overview
  • Engaging

Recommendation

For all the headlines they grab, mega-mergers typically aren’t a good deal for anyone but corporate executives and investment bankers. And guess what? This was just as true when J.P. Morgan created U.S. Steel in 1901 as it was when Steve Case engineered the AOL-Time Warner merger in 1999. Financial expert Charles R. Geisst dissects a century’s worth of deals in fascinating detail. His conclusion: investor and regulator beware. Geisst’s accessible style is a plus, and he manages to be skeptical but not jaundiced in this thorough, clear-eyed analysis. getAbstract.com suggests this book to any executive contemplating an M&A deal, and to any investor trying to cut through the hype surrounding mergers.

Take-Aways

  • From U.S. Steel to AOL-Time Warner, massive mergers defined the last century.
  • The early twentieth century saw a spate of big mergers, some of which stand today.
  • Mergers were driven by the profits they made for executives and investment bankers.

About the Author

Financial expert Charles R. Geisst has written 14 books, including bestsellers Wall Street: A History and 100 Years of Wall Street. Geisst worked as an analyst and investment banker at several investment banks in London. He has written for the International Herald Tribune, The Wall Street Journal and other publications.