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Another former employer, Donaldson , Lufkin & Jenrette(DLJ), was bought by a bigger rival.
Or at those valuations, they could easily be bought by a bigger rival.
More pessimistic firms observe the creation of a bigger rival, able to exploit economies of scale, and seek defensive unions.
In January, Sanofi-Synthélabo launched a hostile €46 billion ($55 billion) bid for Aventis, a bigger rival.
By engaging with Warner Chilcott, Actavis is looking to acquire a smaller company rather than sell itself to a bigger rival.
Mr Son has his eye on T-Mobile USA, which ranks fourth: he wants to create a bigger rival to the two dominant carriers, AT&T and Verizon.
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The company is following a big rival, Realogy Holdings, into the public market.
Deutsche's proposed merger with Dresdner Bank, a big rival, collapsed last month.
"Along the way we beat a big rival, especially for me, from 18 years ago.
"This is a big win against a big rival of ours," Mason said.
Manning laughed and said: "No, I think it's good that the first game is against a big rival.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com