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That's not a silver lining others can look forward to if their mergers are defeated.
Some of the largest managed-care firms also made a mess of their mergers, underwriting or computer systems.
When they first announced their mergers a year ago, the health insurers argued that they would be able to lower their prices by expanding their reach.
Despite clear disparities in strength and size, both say the merger will happen in a "spirit of equality .The time it takes companies to iron out details of their mergers provides plenty of time for rancour.
Much of the best talent has been draining away.Systemic riskIt is not only the sheer size of these banks that makes the task of managing their mergers especially hard.
This is the latest but hardly the only case in which European and American corporations have had their mergers thwarted or at least modified by Mr. Monti, a soft-spoken, silver-haired Italian economist.
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The corporations do so in hopes of getting better terms on their loans, and the investment banks do so as a way to puff up their own deal lists so they can tell prospective clients and investors that their mergers-and-acquisitions advisory practice has been involved in some of the biggest transactions.
The two countries dissolved their merger last Sept. 28.
That evening, Delta and Northwest announced their merger plans.
31, when their merger agreement expires.
OUTCOME: WorldCom and Sprint abandoned their merger in July 2000.
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