Word: aurel
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Dates: during 2003-2003
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...quick, to diversify holdings, eliminate competition, or even to outsource tasks such as research and development. Then the bubble burst, stock prices plummeted and many firms - and their shareholders - saw their merged dreams vanish. "People bought air," says Jean-No?l Vieille, equity research director at the French broker Aurel Leven. Companies slammed on the merger brakes - which helped shut down an already dragging global economy. Now a new flurry of eye-catching deals is pointing to a recovery. In the U.S., the software company Oracle has launched a $6.3 billion hostile bid for rival PeopleSoft. In Europe, BP and Russia...