SECURITIES

Announced Mergers Approach Levels of Late 1980s: Merger activity soared in 1993 for the first time since the end of the takeover boom, with the value of deals announced approaching levels not seen since the late 1980s. Figures released by Securities Data Corp. show that the volume of mergers announced in the United States in 1993 rose nearly 80% to $275.2 billion, from $153 billion a year earlier. The 1993 total is the third-highest ever, behind $336 billion in 1988 and $293 billion in 1989. Worldwide, mergers totaled $479.4 billion, up 38.2% from $347 billion in 1992. Securities Data included deals that were proposed or announced but not necessarily completed in 1993.