It has been a tradition in the business world that giant companies emerged on the global landscape and ruled for some time. These companies either collapsed or were broken by the regulators for creating a monopoly in the consumer market. For example, in the past Standard Oil was a giant in the oil industry and it was owned by John D. Rockefeller. The company maintained its monopoly on the oil industry. No doubt, the oil industry is a lucrative industry in the world. The owner of the Standard Oil was the richest person of modern times. As per available data, his net worth amounted from $350 to $420 billion. Considering this fact, the current rich people like Jeff Bezos, and Elon Musk with around $200 billion assets, must work a lot harder to catch up. The growth of a company is linked to a primary factor i.e., merger of acquisition. The way these companies, Tesla, and Amazon, witnessed growth during the pandemic is remarkable. This was the time when the global economy witnessed downfall due to the pandemic. It is likely that these billionaires might be able to amass more wealth in the future. As economic activities gain momentum, the global economies will need to take steps to overcome the loss rendered by the pandemic. In this article we have gathered information about Top 5 Global Acquisitions as shared by Insider Monkey on Yahoo.
One of the acquisitions is China Minmetals purchase of China Metallurgical Group. The acquisition was completed for $245.6 billion. China Minmetals is one of the world’s largest trading companies dealing in minerals and metals. At present, the company handles around 12 million tonnes of steel every year. The Chinese government owns this company. China Minmetals purchased China Metallurgical Group in 2015. China Metallurgical Group in an engineering and mining group. Another notable acquisition is the merger of China Sinograin with China National Cotton Reserves Corporation. The merger took place for $213 billion. The merger took place under a comprehensive plan of the Chinese government to reduce the number of state-owned enterprises to 100. So, this was the reason that the Chinese government merged these two organizations in 2017. There are various other high profile global acquisitions and mergers which haven’t been discussed in this article. If you find this information interesting and want to read more about other acquisitions and mergers. Check this article 15 Biggest Acquisitions Of All Time on Yahoo.
