December 2007

Posted on December 27, 2007 at 2:25 PM
Filed under: Acquisitions | Law

Pittsburgh's PPG Industries Inc. was informed on Thursday of private equity firm Platinum Equity LLC's intention to terminate a $500 million deal to acquire the chemical producer's automobile glass operations. Platinum, which announced the deal in September and plans to end it by Dec. 31, did not give a reason...  Continue reading

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Posted on December 27, 2007 at 1:10 PM
Filed under: Trends

Alan Alpert, a senior partner with Deloitte Tax LLP, has given CD Forum a quick-hit list of trends he's seeing for the New Year. David Carney, a principal with Deloitte Consulting LLP, also contributed to the list. With corporate cash balances at their highest levels since 1985, strategic buyers have...  Continue reading

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Posted on December 21, 2007 at 11:46 AM
Filed under: Movers & Shakers | Slides

You have to love the headline Cisco Systems Inc. put on the press release announcing the resignation of the executive favored by many to succeed long-time CEO John Chambers: "Cisco evolves senior technology leadership team." But behind the spin surrounding the departure of Charles Giancarlo, Cisco's 50-year-old chief development...  Continue reading

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Posted on December 20, 2007 at 3:01 PM
Filed under: Acquisitions | Corporate Strategy | Trends

As news stories go, a visit to Nasdaq Wednesday by some executives from Fushi International Inc. couldn’t hope to compete with the $5 billion that China Investment Corp. ltd. pumped into capital-impaired Morgan Stanley. Yet a small U.S. acquisition by Nasdaq-listed Fushi says more about the kinds of deals...  Continue reading

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Posted on December 20, 2007 at 10:49 AM
Filed under: Trends

"Turnabout," an article The Deal newsweekly published on Friday, explored an important phenomenon: In a record year for outbound investments from China, five of the top 10 deals were in financial services. Wednesday's $5 billion investment in Morgan Stanley by China's sovereign wealth fund makes it six out of 10....  Continue reading

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Posted on December 19, 2007 at 4:50 PM
Filed under: Corporate Strategy | Joint Ventures and Alliances

If Groupe Danone SA were completely fed up with joint ventures in China, it wouldn't be all that surprising. The company is still trying to sort out a bitter trademark dispute with 11-year-old JV partner Hangzhou Wahaha Group. Perhaps the experience figured in Danone's recent decision to ditch plans for...  Continue reading

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Posted on December 19, 2007 at 3:43 PM
Filed under: Corporate Strategy | Joint Ventures and Alliances

Nippon Steel Corp., Sumitomo Metal Industries Ltd. and Kobe Steel Ltd. jointly announced a ¥260 billion ($2.3 billion) cross-purchase of shares and the building of strategic cooperative measures, such as the mutual use of core production facilities. When it comes to the largest steelmakers in the world, Nippon is...  Continue reading

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Posted on December 19, 2007 at 1:26 PM
Filed under: Acquisitions

One of the ways some private equity investors size up a business or a market in a hurry is by tapping the experts network run by Gerson Lehrman Group, the highly successful New York startup that connects them with people who actually work in the relevant industry. As we reported...  Continue reading

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Posted on December 19, 2007 at 11:10 AM
Filed under: Acquisitions | Corporate Strategy

Reports circulated in October that Chemtura Corp. hired Merrill Lynch & Co. in a failed effort to sell the company. Now the producer of specialty chemicals, crop protection, and pool, spa and home-care products formed a special committee and said it hired Merrill to sell, merge or create a...  Continue reading

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Posted on December 18, 2007 at 4:07 PM
Filed under: Corporate Strategy | Integration | Movers & Shakers

Rather than bring in a true outsider to shake up the integration-troubled telecom giant, Sprint Nextel Corp. tapped Daniel Hesse as president and CEO of the company. Hesse was leader of Embarq Corp., a wireline business Sprint spun off in May 2006. Regardless of whether investors or analysts think...  Continue reading

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