Recent Examples spring to mind:
AOL with TIme Warner - both dead/dying and what hype was there!
GE-_ Under Lord SImpson, had a pile of cah, rest is history
RBS-HBOS - both bankers (FFS they should have known - but kept it to themselves)
BA-Iberia - struggling with profits despite a very enlarged marekt to serve.
KLM- Air France - Same scenario
SOny Erissson- Sony phone division - just recovering
HP-Compaq - smaller market share
HP- and the UK accountancy company - what a joke
AMD-ATI - not doing good.
Microsoft - Skype. 8..5 billions for VOIP ( FFS they could have developed this in-house for much less)
Ford- Volvo - Where are they?
Renault-Nissan ? Just about OK
Virgin Media- NTL- Blueyonder and all other smaller telcos taken over ? Consumers the losers
T-mobile & Orange ? higher prices and less choice for consumers
Lufthansa-BMI - less choice and higher fares.
BMW-ROver ? Even pricier Minis
National and other coach operators? Same story.
Feel free to add more. Sure there are many.
All the borrowings/debts they availed has to be paid back (usually the consumers bear the burden ultimately), which was high due to the markets jacking up prices of takeover targets.
Its a one whole nice cosy setup between bankers, big business and stock market regulators who only pay lip service.