25 result(s) displayed (1 - 25 of 66):
Stop us if you've heard this: Big Japanese company tries to globalize, is undermined by culture clash resulting from its insular habits. Matsushita-MCA in the 1990s, right? Or maybe Nomura Holding Inc. (NYSE:NMR) in the same period?Try Nomura in 2009. Once more looking to expand its U.S. presence, once more...
Posted on July 29, 2009 2:02 PM
Bank of America Corp.'s (NYSE:BAC) integration of Merrill Lynch & Co. continues at pace, despite chief executive Ken Lewis' numerous treks to Capitol Hill, stress test results, high-level talent defections and other distractions. In an interview with American Banker, integration leader Brian Moynihan admits external pressures are adding to the...
Posted on June 29, 2009 10:28 AM
Wells Fargo & Co. has reorganized its local leadership structure as part of its integration of Wachovia Corp. The combined organization has 138 offices in 38 states and $55.6 billion in loans and $28.8 billion in deposits, making the integration is one of the largest bank mergers ever. Under the new...
Posted on February 12, 2009 12:47 PM
We don't know much yet about the nuts and bolts of the much-speculated joint venture between Citigroup Inc. and Morgan Stanley. But we know enough about banking industry integration to presume that failing to devote the necessary time, money and management expertise to the venture could undermine the business' longterm...
Posted on January 12, 2009 12:30 PM
About 1,500 former Northwest Airline Corp. employees will lose their jobs following a downsizing at the carrier's Minnesota headquarters by new owner Delta Air Lines Inc. Atlanta-based Delta acquired Northwest for $2.6 billion in October, causing concern in the Twin Cities that there could be significant job losses and service...
Posted on December 16, 2008 4:43 PM
PNC Financial Services Group expects it will take 23 months to integrate National City Corp. -- if the deal is approved. The Pittsburgh bank's proposed $5.6 billion acquisition of Cleveland-based Nat City -- a union nudged along by federal bailout money -- is set to close on Dec. 31. Quoting...
Posted on December 10, 2008 5:11 PM
In the tailwind of its $2.6 billion merger with Northwest Airlines Corp., Delta Air Lines Inc. announced plans on Wednesday to cut capacity and jobs. In a memo to employees, as reported in the Atlanta Business Chronicle, CEO Richard Anderson and president Edward H. Bastian said the airline will cut...
Posted on December 3, 2008 11:17 AM
Wells Fargo & Co. and Wachovia Corp. have named two executives to lead their pending integration. According to bizjournal.com, Steve Boehm, president of Wachovia's card service group, and Pat Callahan, manager of social responsibility...
Posted on October 28, 2008 4:49 PM
As Bank of America Corp. contemplates what will likely be a complex merger with Merrill Lynch & Co., the bank's integration of Countrywide Financial Corp. is well underway. BofA bought the failing mortgage giant in a $4 billion all-stock deal in July.In an interview with the bank's hometown paper, The...
Posted on October 21, 2008 3:40 PM
One benefit of a sluggish M&A market is the opportunity it affords corporate development executives to fine-tune their internal deal operation. There are plenty of books available to help dealmakers do just that, and one of the most recent is "Beyond the deal: Mergers & acquisitions that achieve breakthrough performance...
Posted on October 20, 2008 10:36 AM
It appears that Wells Fargo & Co. will be buying Wachovia Corp. for $15.1 billion -- not that Citigroup Inc. is going away quietly. In a press release, Citi says it plans to follow through with its $60 billion breach of contract suit. But that's a story for another post....
Posted on October 10, 2008 3:13 PM
Here at Corporate Dealmaker, we've been doing a lot of reporting lately on the avalanche of post-merger integration issues facing executives of merging banks. One of the biggies, particularly for commercial banks, is getting their IT systems talking. This is typically a timely, expensive and complex process.So we were surprised...
Posted on October 8, 2008 5:10 PM
Some of the most challenging deals are the ones done to move an acquirer into an entirely new business. Corporate Dealmaker Forum panelists Bruce Bowden, VP and global head of M&A at Nokia Oyj; Antonio Del Pino, a partner with Latham & Watkins LLP; and Gary Julien, Kanders &...
Posted on October 2, 2008 4:42 PM
Four months. If all goes as planned, that's how long it will take Hewlett-Packard Co. to close on its acquisition of Electronic Data Systems Corp. Not bad for a $13.9 billion transaction. In announcing a robust third-quarter earnings report -- earnings were up 11%, to $2 billion, revenue rose 10%,...
Posted on August 20, 2008 11:50 AM
Seems like Comcast Corp. has a sweet tooth for interactive marketing and consumer trends. The cable provider acquired DailyCandy Inc. for $125 million, adding to its online and broadcast lifestyle properties.Comcast plans to integrate DailyCandy into its digital entertainment division, Comcast Interactive Media. The idea is to use the site...
Posted on August 6, 2008 1:32 PM
Delta Air Lines Inc. announced its post-merger leadership team on Tuesday in advance of its deal to acquire Northwest Airline Corp. in a $3.63 billion stock swap. As expected, Delta chief executive Richard Andersen will lead the merged company, helped along by a Delta-heavy slate of executives. The airlines have...
Posted on July 15, 2008 4:35 PM
Now that Carlos Brito and his deal team have won Anheuser-Busch Cos. -- to the disappointment of more than a few St. Louis locals, it seems -- our thoughts couldn't help but turn to integration. And with the size and scope of this $52 billion deal, there will be plenty...
Posted on July 14, 2008 4:00 PM
Now that Activision Inc. has closed its $19 billion deal for Vivendi SA's video game business, Blizzard, integration is next on the agenda. There will surely be some challenges there, but Activision Blizzard Inc. president and CEO Robert Kotick isn't concerned. Here's what he told The Deal's David Shabelman: "The...
Posted on July 10, 2008 5:19 PM
Seeking to further expand its home infusion pharmacy division, Walgreen Co. will acquire Express Scripts Inc.'s CuraScript Infusion Pharmacy Inc. for an undisclosed amount. CuraScript provides IV treatments for immune deficiency, chemotherapy and pain management. Express Scripts divested CuraScript because it was a noncore business. CuraScript will be integrated into...
Posted on June 10, 2008 1:43 PM
If you needed more proof that post-merger integration is an ongoing process, look no further than FedEx Corp. After four years as FedEx Kinko's, the company has decided to change the name of its printing and professional services unit to FedEx Office. When FedEx acquired the struggling print shop for...
Posted on June 3, 2008 11:38 AM
How does J.P. Morgan Chase & Co. CEO Jamie Dimon monitor progress on integrating Bear Stearns Cos.? One tool is a 41-page daily report, according to this Dimon profile from Bloomberg. The veteran dealmaker says he has 5,000 people working on the task and compares the effort to sending in...
Posted on April 28, 2008 9:35 AM
My West Coast colleague Olaf de Senerpont Domis just put up a good post on our sister blog, Tech Confidential, about The Wall Street Journal's front-pager on Cisco Systems Inc. Thursday morning. Olaf knows plenty about dealmaking at Cisco, and it shows. Of course I agree with Olaf on the...
Posted on April 17, 2008 3:35 PM
Thomson Corp.'s acquisition of Reuters Group plc closes Thursday, 11 months after the deal was announced. The new company, to be known as Thomson Reuters, will mark the occasion with internal observances and external announcements. Here's a quick rundown of what's known about the combination, what we might find out...
Posted on April 16, 2008 3:17 PM
A glimpse behind the curtain at the Oracle deal process as SVP for corporate development Doug Kehring describes the company's M&A life cycle.
Posted on April 11, 2008 4:54 PM
In our latest magazine, this Corporate Dealmaker sector watch highlighted the paperwork logjam in the U.S. healthcare system, which is bringing a wave of consolidation in the world of healthcare information technology and also within...
Posted on April 9, 2008 11:02 AM
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