It was supposed to be another megadeal, no questions asked. On Sept. 1, Fiat, Pirelli, Assicurazioni Generali, and the all-powerful Mediobanca announced that Gemina, an investment company under their control, would acquire the assets of the collapsed Ferruzzi empire. Overnight, Gemina would become Italy's second-largest conglomerate--with the Agnellis and other magnates calling the shots.
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