In which country was the first bank merger and reorganization in history?

As early as the end of 2009 and the beginning of the 20th century, in the first wave of corporate mergers and acquisitions in western countries, investment banks have started to participate and provide help. But the M&A business of investment banks really rose in the 1970s. In the first half of that era, the old American investment banks had the embryonic form of M&A business department. During the period of 1974, the first hostile takeover took place on Wall Street-Nike International Company acquired ESB battery manufacturer in Philadelphia, and Morgan Stanley stepped in to support the acquirer Nike International Company. This is the first hostile M&A consulting business of contemporary investment banks. During this period, more and more investment banks realized the broad prospects of M&A business and set up full-time M&A business departments to recruit and train M&A professionals. For example, George Shinn, the new chairman of First Burton Bank at that time, was convinced of the future of M&A business. Starting from 1976, he decided to create conditions for real M&A experts to stand out. By 1979, the enterprise acquisition department of Boston First Bank had 18 employees, who were led by Joan Pereira, a famous M&A expert, to provide professional services for M&A enterprises ... By the end of 1970s, M&A planning and consulting had become an important characteristic business of investment banks. Since then, engaging in M&A business has become a major feature of investment banks.

In 1980s, M&A business of investment banks began a new stage in full swing. In addition to the United States, M&A business of investment banks has gradually developed in Western Europe and other countries and regions with developed market economy. The M&A business of investment banks is increasing, and the operating profit is also increasing. Various professional methods and skills of M&A and anti-M&A have been developed. Leveraged buyout (LBO), management buyout (MBO), junk bonds, bridge financing and other new technologies and tools that greatly promote the development of enterprise mergers and acquisitions, as well as famous anti-merger strategies such as poison pill, scorched earth and parkman, all came into being or matured at this stage. Since the mid-1980s, various powerful investment banks in the United States have followed the practice of investment groups and started the equity investment business of "acquiring enterprises-restructuring and selling". For example, Merrill Lynch followed KKR Group's approach to enter the leveraged buyout market, Faustmann Little Company of Lehman Brothers Group acquired Dokdo Pepper Company, and First Boston Bank acquired BTR (Complex Enterprise Group) and Dunlop Tire of Britain (Dunlop Tire Company). Throughout the 1980s, M&A business of investment banks developed rapidly in both depth and breadth, showing a diversified pattern. Investment banks not only serve people who buy enterprises, but also serve people who sell enterprises, and also provide anti-takeover services for target enterprises and their major shareholders; Not only provide consulting for customers, but also provide financing for customers; Not only do M&A planning and financial consultation for customers, but also directly buy and sell property rights (enterprises) as buyers or sellers; We should not only carry out mergers and acquisitions of listed companies, but also private companies ~