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Nevertheless, the widespread use of holding companies followed, especially upon liberalization of general incorporation acts by New Jersey and several other states starting in 1889.
In the year 2000 alone, the government blocked a potential merger between American Telephone and Telegraph (AT&T) and the media giant Time Warner, and another proposed merger between long-distance telephone providers WorldCom and Sprint.
UFJ Holdings, Inc., Japanese bank holding company that became one of the world’s largest banking institutions through the merger of Sanwa Bank, Tōkai Bank, and Tōyō Trust in 2001.
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