”The merger and acquisition hysteria in Europe was record breaking. Never has the marriage wave been so tumltous and politically infected as in 1999. But the stock markets applauded.” Further down in the article the development is labelled ”fusionsyra”, and ”merger mania”. ”Bigger is better” is given as the major logic behind the development. Advice to stock market investors is to identify firms that are likely to be acquisition targets because such stocks will increase in value when rumours or bids come forward. However, in an article a few weeks earlier in the same newspaper, an article, refering to a study by a consultant firm, A.T. Kearney, showed that M&As most often turn out to be disappointing from a post merger performance point of view. Statistics show that the average value of the M&As have increased considerably during the second half of the 1990s and that ”megadeals” (several hundred billions SEK) are catching the imagination of observers.