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Crain's Detroit Business Announces 1998 Biggest Deals

25 January 1999

Crain's Detroit Business Announces 1998 Biggest Deals

    DETROIT, Jan. 25 -- Fueled by the auto sector, metro Detroit
logged a record $76 billion in merger-and-acquisition deals in 1998, according
to the annual tally by Crain's Detroit Business published in its January 25
edition.
    The top deal is the much publicized, $40.5 billion merger of Daimler-Benz
and Chrysler Corp.
    But even without that "big deal," the pace and volume far exceeded the
total tallied by Crain's for 1997.
    In all, Crain's reports that 152 major deals in 1998 added up to $76.4
billion.  That compares to 126 deals totaling $23.5 billion the year before.
    "This is a one-of-a-kind resource that not only includes all the well-
known big deals, but a number of hard-to-find private mergers and acquisitions
that haven't been reported in the media," says Cindy Goodaker, executive
editor.
    Twelve of the deals included in the Crain's "Biggest Deals" issue were
more than $1 billion, compared with only three last year.  "Once again this
year, the majority of the mergers involved automotive-related businesses,"
said Goodaker.
    Research to gather this information is conducted by Crain's Detroit
Business throughout the year.  "Our staff tracks this information all year
long to produce the list.  You won't find this comprehensive a list of local
merger activity anywhere else."
    Crain's Biggest Deals issue will be in bookstores and on newsstands
Monday, January 25.  Or you can order a copy by calling toll free,
888-909-9111 and asking for the Single Copy Sales Department.
    Crain's Detroit Business is a weekly business publication providing late-
breaking news covering industries such as health care, banking, manufacturing,
technology and the professions that serve those industries.