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| February 21, 2005 | Foroohar, Rana | COPYRIGHT 2005 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Rana Foroohar, Zahid Hussain, Sudip Mazumdar, Ron Moreau, Mark Hosenball, Tamara Lipper, Fred Guterl, Mark Starr, John Sparks, Marie Valla, David Ansen, Bret Begun, Ginanne Brownell

The big deals are back. Companies are enjoying their biggest buying sprees in four years. In recent weeks, megadeals like Procter & Gamble's $52 billion acquisition of Gillette have made headlines. A study by Robert W. Baird and Co., a U.S. investment bank, shows a 52.7 percent jump in the value of global mergers and aquisitions deals from 2003 to 2004. Now, there's even buzz that merger mania is coming to Europe. Last week, speculation helped push the FTSE to the 5,000 mark.

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