Steven Davidoff Solomon

In a sluggish economy with few obvious opportunities, a big merger has become the only way to acquire growth or a new product or new technology and ensure that the chief executive holds on to power

The hostile takeover rose from the dead and the American deal market revived while Europe and Asia were moribund

Companies are going from zero to billion-dollar valuations faster than ever before, despite a lack of revenue and, perhaps, even a market plan