The survey reported 507 global mergers, valued at $17.8 billion, with increased activity in Europe, particularly in France.

The global merger brought together two highly regarded insurers with almost 160 years of experience in Australia.

He eventually became the head of Lehman Brothers' global mergers and acquisitions team.

The communications gap stems in part from the trend toward global mergers.

Mergerstat, a supplier of global merger and acquisition data, reports that the median premium paid in 1999 was 32.7 percent, up from 20.4 percent the year before.

All of this can be read as a cautionary tale about the corporate and cultural differences inherent in global mergers.

Mr. Strong is now co-head of Salomon's global mergers and acquisitions operations in New York.

The firm's name arises from the global merger between Ernst & Whinney and Arthur Young in 1989.

"It's clear they waged a very good campaign," said Jack Levy, head of global mergers at Merrill Lynch.

The value of global mergers and acquisitions totaled $1.2 trillion in the first quarter, according to the research firm Dealogic.