- France: according to Fusions & Acquisitions Magazine, the wave of mergers and acquisitions involving at least one French company reached a record in 1999 with four operations achieving over FF 100 bn: the takeover of TOTAL-FINA of ELF, the friendly takeover of HOECHST by RHONE-POULENC, BNP's purchase of PARIBAS and the merger between CARREFOURS and PROMEDES. To these mega-mergers may be added another eleven operations of between FF 20 and 100 bn, mostly through payments in stocks given...