Europe's richest families driving mega M&A deals
Some are moving into less risky sectors while others are consolidating in the face of low-cost competition
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London
JOHN Elkann, the leader of Italy's billionaire Agnelli family, has a way of preparing his relatives for a big takeover battle that you won't see at your everyday company.
In June, he gathered two branches of the prominent Italian family - owners of Ferrari and Fiat Chrysler- at the renowned Juventus stadium in Turin for a friendly game of soccer, cheered on by dozens of relatives. The next day, at the annual meeting of the family's holding company, Mr Elkann explained why he was pursuing a deal that would shift the business empire from cars to finance, the clan's most transformative deal in over a century.
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