Flush with cash and looking for growth opportunities, corporations since the beginning of 2011 have stepped up the pace and size of dealmaking. Globally, companies have spent more than $1.57 trillion in deals, and nationally there have been more than 6,000 transactions that add up to more than $722 billion, according to Bloomberg. Telecommunications and health lead the way with the four of the five biggest deals of the year through March. AT&T’s bid to acquire T-Mobile USA and Express Scripts takeover of Medco would put both bidders at the top of their respective industries. Read on to see the largest and most notable deals of 2011.

Editor’s note: All data are from Bloomberg. Prices are listed as the value at the time the deal was announced.

Getty Images
Flush with cash and looking for growth opportunities, corporations since the beginning of 2011 have stepped up the pace and size of dealmaking. Globally, companies have spent more than $1.57 trillion in deals, and nationally there have been more than 6,000 transactions that add up to more than $722 billion, according to Bloomberg. Telecommunications and health lead the way with the four of the five biggest deals of the year through March. AT&T’s bid to acquire T-Mobile USA and Express Scripts takeover of Medco would put both bidders at the top of their respective industries. Read on to see the largest and most notable deals of 2011.

Editor’s note: All data are from Bloomberg. Prices are listed as the value at the time the deal was announced.

Getty Images

The Biggest M&A Deals of 2011

A running tally
A running tally
Flush with cash and looking for growth opportunities, corporations since the beginning of 2011 have stepped up the pace and size of dealmaking. Globally, companies have spent more than $1.57 trillion in deals, and nationally there have been more than 6,000 transactions that add up to more than $722 billion, according to Bloomberg. Telecommunications and health lead the way with the four of the five biggest deals of the year through March. AT&T’s bid to acquire T-Mobile USA and Express Scripts takeover of Medco would put both bidders at the top of their respective industries. Read on to see the largest and most notable deals of 2011.

Editor’s note: All data are from Bloomberg. Prices are listed as the value at the time the deal was announced.

Getty Images
Google agrees to buy Motorola Mobility
Google agrees to buy Motorola Mobility
Price: $9.8 billion
Date: August 15, 2011
Type: Company takeover
Status: Pending

Google’s (GOOG) largest acquisition to date will expand both mobile patents and hardware, such as the Xoom tablet, above. Google paid a 63 percent premium on Motorola's stock price in a deal that increases Google's competitiveness in cell phones and tablets.
Bloomberg
Express Scripts agrees to buy Medco
Express Scripts agrees to buy Medco
Price: $34.3 billion
Date: July 21, 2011
Type: Company takeover
Status: Pending

In what would create the largest U.S. pharmacy benefits manager, Express Scripts (ESRX) agreed to buy Medco (MHS) in July. The deal requires a hearing from antitrust regulators and may also need to clear a congressional hearing, according to Bloomberg. Above, Express Scripts employees inside the company's Research & New Solutions lab in St. Louis.
Bloomberg
Icahn bids for Clorox
Icahn bids for Clorox
Price: $11.9 billion
Date: July 15, 2011
Type: Additional stake purchase, company takeover
Status: Pending

Investor Carl Icahn has made two bids for Clorox (CLX) that have both been rejected by the company as undervaluations. Icahn's second bid was at $80 per share, with the company trading between $60.56 and $75.44 range during 2011. The initial bid, for about $10.2 billion, was widely perceived as an attempt to draw out other potential bidders. Judging by other takeovers of household product companies in the last five years, Clorox is worth about $85 per share or $600 million more than Icahn offered, Bloomberg data shows.
Bloomberg
BHP Agrees to Buy Petrohawk
BHP Agrees to Buy Petrohawk
Price: $14.9 billion
Date: July 15, 2011
Type: Tender offer, cross boarder, company takeover
Status: Pending

BHP Billiton (BHP) agreed to buy Petrohawk (HK) in a deal that bets on increasing natural gas demand in the U.S. If the deal goes through, it will be the largest acquisition for BHP Billiton, the world's biggest mining company.
Via Bloomberg
Microsoft Agrees to Buy Skype
Microsoft Agrees to Buy Skype
Price: $8.5 billion
Date: May 10, 2011
Type: Private equity, cross border, company takeover
Status: Pending

Potentially Microsoft’s (MSFT) largest acquisition, bigger may not be better, considering Microsoft’s unenviable track record of integrating purchases into the company. This bid is all about Microsoft’s mobile operating system, Windows Phone, and a joint agreement with Nokia. Luxembourg-based Skype is well positioned to provide added value to that deal and enhance Windows Phone. Skype has had a potential IPO on file since August. The company announced a loss of $7 million and revenues of $860 million for 2010. The price includes $775 million in debt that Skype reported in IPO filings.
Bloomberg
Johnson & Johnson agrees to buy Synthes
Johnson & Johnson agrees to buy Synthes
Price: $21.3 billion
Date: April 27, 2011
Type: Cross border, company takeover
Status: Pending

Johnson & Johnson (JNJ), the manufacturer of everything from Tylenol and Rolaids to hip implants, agreed to buy medical device maker Synthes. Based in West Chester, Pa., (above) Synthes’s stock trades in Switzerland. Although J& J’s orthopedics business is expected to align well with the acquisition, the company is expected to divest some divisions to avoid antitrust obstacles. J&J, which has a market cap of $177.7 billion, has been troubled by more than 50 product recalls, as detailed in a recent Bloomberg Businessweek cover story.
Via Bloomberg
Level 3 bids for Global Crossing
Level 3 bids for Global Crossing
Price: $2.45 billion
Date: April 11, 2011
Type: Company Takeover
Status: Pending

Two unprofitable broadband providers agreed to a merger in April that will result in a company with annual revenue of $6.26 billion from networks in 50 countries.
Bloomberg
Texas Instruments bids for National Semiconductor
Texas Instruments bids for National Semiconductor
Price: $6.4 billion
Date: Apr. 4, 2011
Type: Company takeover
Status: Pending

Texas Instruments (TXN) offered a 78 percent premium to acquire competitor National Semiconductor (NSM). With a large global sales force, TI expects to expand National Semi’s portfolio of analog chips.

Bloomberg
Vivendi bids for SFR
Vivendi bids for SFR
Price: $11.3 billion
Date: Apr. 3, 2011
Type: Additional stake purchase, cross-border, company takeover
Status: Pending

French media company Vivendi (VIV) is bidding to gain full control of the French mobile operator SFR, the second-largest in France. Under the deal, Vodafone will sell its 44 percent stake in the company and use the proceeds to repurchase its shares.

Bloomberg
Nasdaq OMX and ICE bid for NYSE Euronext
Nasdaq OMX and ICE bid for NYSE Euronext
Price: $11.3 billion
Date: Apr. 1, 2011
Type: Company takeover, competing bid
Status: Pending

It was no April Fool’s joke when New York's Nasdaq OMX and ICE (ICE) of Atlanta offered nearly 20 percent more than the Deutsche Börse bid for NYSE Euronext (NYX). The Nasdaq offer has sparked antitrust concerns since Nasdaq will have a monopoly on listing companies in the U.S. if it wins the bid. On April 10, NYSE's board rejected Nasdaq OMX's bid in favor of Deutsche Boerse's. Nasdaq OMX is now appealing to NYSE shareholders

Bloomberg
eBay bids for GSI Commerce
eBay bids for GSI Commerce
Price: $1.9 billion
Date: March 28, 2011
Type: Company takeover
Status: Pending

eBay (EBAY) recently raised its original bid of $1.9 billion to $2.4 billion for e-commerce business GSI Commerce (GSIC). The acquisition may help eBay compete better with Amazon, as GSI brings to the table contracts with more than 180 retailers.

Bloomberg
Walgreen bids for Drugstore.com
Walgreen bids for Drugstore.com
Price: $396.9 million
Date: Mar. 24, 2011
Type: Company takeover
Status: Pending

Coming amid numerous deals for online retailers and Walgreen’s (WAG) recent acquisition of competitor Duane Reade, the Drugstor.com (DSCM) purchase will expand the online presence of the largest drugstore in the country.

Bloomberg
Charles Schwab bids for OptionsXpress Holdings
Charles Schwab bids for OptionsXpress Holdings
Price: $1.11 billion
Date: Mar. 21, 2011
Type: Company takeover
Status: Pending

Schwab (SCHW) may be getting a good deal on this one. Shareholders of OptionsXpress Holdings (OXPS), a retail option brokerage in San Francisco, have sued the company, claiming the board agreed to too low a price during the downturn.

Bloomberg
AT&T bids for T-Mobile USA
AT&T bids for T-Mobile USA
Price: $39 billion
Date: Mar. 20, 2011
Type: Cross-border, company takeover
Status: Pending

Among the 40 largest deals ever announced in the U.S., AT&T's (T) takeover would create the country’s largest wireless provider by combining the nation’s second- and fourth-biggest carriers. T-Mobile USA is a unit of Germany’s Deutsche Telekom (DTE).
Bloomberg
General Mills bids for Yoplait
General Mills bids for Yoplait
Price: $1.15 billion
Date: Mar. 18, 2011
Type: Minority purchase, private equity, cross-border
Status: Pending

Although General Mills (GIS) has held the U.S. license for Yoplait since 1977, the Minneapolis company is moving to expand the brand into emerging markets. Under the deal, PAI Partners in Paris will sell 50 percent of Yoplait for cash.

Bloomberg
Berkshire Hathaway bids for Lubrizol
Berkshire Hathaway bids for Lubrizol
Price: $9.22 billion
Date: Mar. 14, 2011
Type: Company takeover
Status: Pending

Warren Buffet stressed the need for "major acquisitions" in his annual investor letter and delivered early with this purchase of a lubricant additive maker. A top manager at Berkshire Hathaway (BRK.A), David Sokol, resigned at the end of March after it was revealed that he bought stock in Lubrizol (LZ) before he proposed the company as a takeover target to Buffet. Sokol told CNBC that he did nothing wrong. The Securities and Exchange Commission is reviewing the matter.

Bloomberg
LVMH Moët Hennessy bids for Bulgari
LVMH Moët Hennessy bids for Bulgari
Price: $3.02 billion
Date: Mar. 7, 2011
Type: Majority purchase, cross-border
Status: Pending

The world’s largest luxury goods company, which owns more than 50 brands, including Louis Vuitton, Moët et Chandon, Fendi, and Givenchy, continued a trend of buying and paying handsomely for luxury businesses, such as Rome's storied jeweler Bulgari (BUL:MI). This is LVMH’s largest takeover in more than a decade.

Bloomberg
Blackstone Group bids for Centro’s shopping centers
Blackstone Group bids for Centro’s shopping centers
Price: $9.4 billion
Date: Mar. 1, 2011
Type: Private equity, asset sale, cross-border, recapitalization, real estate
Status: Pending

Blackstone (BX), the largest private equity firm in the world, is buying 588 American shopping malls owned by Centro Retail Group (CEROF) of Melbourne, Australia.

Bloomberg
News Corp. bids for Shine Group
News Corp. bids for Shine Group
Price: $673 million
Date: Feb. 21, 2011
Type: Cross-border, company takeover
Status: Pending

The deal has been widely criticized as an example of nepotism, so shareholders took the unusual step of suing News Corp. (NWSA) Chief Executive Rupert Murdoch to stop the purchase of the London television company owned by his daughter, Elisabeth Murdoch, above.

Getty Images
Nordstrom bids for HauteLook
Nordstrom bids for HauteLook
Price: $180 million
Date: Feb. 17, 2011
Type: Company takeover
Status: Pending

Although a relatively small acquisition this year, Nordstrom's (JWN) deal is significant because it is the first department store to buy a members-only site for limited-time, deep discount offers online—what are called flash sales.
Bloomberg
Sanofi-Aventis bids for Genzyme
Sanofi-Aventis bids for Genzyme
Price: $19.64 billion
Date: Feb. 16, 2011
Type: Company takeover, tender offer, cross-border
Status: Pending

The first formal offer by Sanofi-Aventis (SNY) to take over the Cambridge (Mass.) biotechnology company was made last August, but the deal was rejected due to a disagreement over valuation. Under the new February deal, Genzyme (GENZ) shareholders may get payment based on sales of products that are in the pipeline.

Bloomberg
Trian Fund Management bids for Family Dollar Stores
Trian Fund Management bids for Family Dollar Stores
Price: $7.7 billion
Date: Feb. 15, 2011
Type: Company takeover
Status: Rejected on Mar. 3

With the economy still sluggish, discount stores are the subject of great speculation on the acquisitions front. In March, Family Dollar Stores (FDO) in Matthews, N.C., rejected a takeover bid by billionaire Nelson Peltz's Trian, arguing undervaluation. Although the offer still lingers and Trian sent a letter asking the Family Dollar board to reconsider, the publicly held discount chain appears to be standing firm.

Bloomberg
Deutsche Börse bids for NYSE Euronext
Deutsche Börse bids for NYSE Euronext
Price: $9.53 billion
Date: Feb. 15, 2011
Type: Cross-border, company takeover
Status: Pending

The proposed deal between the largest German stock exchange and the company that operates the New York Stock Exchange has resulted in a bidding war. On Apr. 1, New York's Nasdaq OMX and ICE of Atlanta offered nearly 20 percent more than the Deutsche Börse bid for NYSE Euronext (NYX). If the Nasdaq offer wins, the company will have a monopoly on listing companies in the U.S.

Bloomberg
PetroChina bids for Encana’s Cutbank Ridge assets
PetroChina bids for Encana’s Cutbank Ridge assets
Price: $5.43 billion
Date: Feb. 9, 2011
Type: Cross-border, asset sale
Status: Pending

PetroChina’s (601857:CH) parent company, China National Petroleum, has announced plans for rapid overseas expansion in the next five years. This acquisition is just a small part of that push. In February, Calgary's Encana (ECA), one of North America’s largest natural gas producers, agreed to sell 50 percent of such Canadian assets as 1.3 million acres of land, pipelines, storage, and production capacity and include an agreement to share costs in the future.
Bloomberg
London Stock Exchange bids for TMX Group
London Stock Exchange bids for TMX Group
Price: $3.12 billion
Date: Feb. 9, 2011
Type: Cross-border, company takeover
Status: Pending

The LSE (LSE) deal to merge its stock exchange in Britain with Canada's TMX (X:CN) exchange has met with political resistance and regulatory difficulties.
Bloomberg
Ensco bids for Pride International
Ensco bids for Pride International
Price: $8.47 billion
Date: Feb. 7, 2011
Type: Cross-border, company takeover
Status: Pending

Offshore drilling giant Ensco (ESV) made a bid for a Houston rival, Pride International (PDE), some of whose workers are shown above on a rig in Argentina. The deal will expand the customer base of London's Ensco and could escalate the pace of takeovers in the industry.

Bloomberg
AOL bids for HuffingtonPost.com
AOL bids for HuffingtonPost.com
Price: $300 million
Date: Feb. 7, 2011
Type: Cross-border, company takeover
Status: Completed Mar. 7, 2011 HuffingtonPost.com has the hits, but monetizing those hits may be another question. (AOL) took on that tough task. The market responded with a stock drop that corresponded to the dollar amount AOL paid for Huffpo during the five days following the deal. Above is Huffington Post co-founder Arianna Huffington with Tim Armstrong, AOL's chief executive.
Bloomberg
Citigroup takes over EMI
Citigroup takes over EMI
Price: $3.55 million
Date: Feb. 1, 2011
Type: Private equity, cross-border, company takeover, debt for equity, recapitalization
Status: Completed Feb. 1, 2011 Citigroup (C) took control of EMI, the record label of Pink Floyd and the Beatles, after its owner, British financier Guy Hands, was unable to meet the terms of his loans. A sale could raise about $2 billion, according to New York investment bank Needham, and cover EMI's $1.94 billion of debt.
Bloomberg
AMB Property bids for ProLogis
AMB Property bids for ProLogis
Price: $16.48 billion
Date: Jan. 31, 2011
Type: Company takeover, reverse merger
Status: Pending

This merger of two industrial warehouse companies, AMB (AMB) and ProLogis (PLD), would create a $46 billion real estate investment trust, according to Bloomberg News. Above: Walter Rakowich, chief executive of ProLogis.

Bloomberg
Alpha Natural Resources bids for Massey Energy
Alpha Natural Resources bids for Massey Energy
Price: $8.28 billion
Date: Jan. 29, 2011
Type: Company takeover
Status: Pending

The proposed deal between Alpha (ANR) and Massey (MEE) will create a company better positioned to sell coal for China's growing steel industry.
Bloomberg
Verizon Communications bids for Terremark Worldwide
Verizon Communications bids for Terremark Worldwide
Price: $1.73 billion
Date: Jan. 27, 2011
Type: Tender offer, company takeover
Status: Pending

Verizon (VZ) made a move to enter the cloud-computing industry with a bid for Terremark Worldwide (TMRK).

Bloomberg
Private investor bids for Mosaic
Private investor bids for Mosaic
Price: $8.07 billion
Date: Jan. 18, 2011
Type: Minority purchase, debt for equity
Status: Pending

Privately held agricultural giant Cargill is seeking to spin off fertilizer company Mosaic (MOS). The deal, a tax-free exchange that's extremely complicated, is expected to help keep Cargill private and may leave Mosaic open to being acquired by another company.

Bloomberg
Duke Energy bids for Progress Energy
Duke Energy bids for Progress Energy
Price: $25.53 billion
Date: Jan. 10, 2011
Type: Company takeover
Status: Pending

Steam rises from the cooling tower of Progress Energy’s Shearon Harris nuclear plant in North Carolina. The proposed merger of Duke Energy (DUK) and Progress Energy (PGN) would create the largest utility in the country, according to a Duke release. The resulting company will retain the name Duke Energy and is expected to have annual revenue of $22.7 billion.

Bloomberg
Qualcomm bids for Atheros Communications
Qualcomm bids for Atheros Communications
Price: $2.92 billion
Date: Jan. 5, 2011
Type: Company takeover
Status: Pending

Timed to coincide with the annual Consumer Electronics Show in Las Vegas, Qualcomm’s (QCOM) acquisition of Atheros (ATHR) was heralded as a move toward the mobile universal connectivity that served as a catchphrase of the show.

Bloomberg
Hearst bids for Lagardère’s U.S. properties
Hearst bids for Lagardère’s U.S. properties
Price: $870.7 million
Date: Jan. 3, 2011
Type: Asset sale, cross-border
Status: Pending

With such titles as Esquire and Cosmopolitan, New York's Hearst is seeking 102 magazines from France’s largest publisher, including Elle and Car and Driver. The deal is in cash.

Getty Images