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Hershey Co. made a sweet profit this quarter by posting higher-than-expected results amid more competition from the combined Wm. Wrigley Jr. Co. and Mars Inc., a recession and a rise in cocoa costs.The Pennsylvania-based candy company, which is responsible for some tempting chocolate treats including Reese's Pieces, made a net...
Posted on January 27, 2009 11:30 AM
Edge Petroleum Inc. is back to reviewing its strategic options now that its deal to be acquired by Chaparrel Energy Inc. has collapsed. The companies in July agreed to merge in an all-stock transaction that would have made Chaparrel public. But after twice delaying a vote on the deal, the...
Posted on December 17, 2008 12:40 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
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
The solid waste industry is hyper competitive, with haulers competing head-to-head for lucrative government contracts in cities nationwide. With that in mind, the aggressive maneuvering between the nation's top three haulers should come as no surprise. To recap: Waste Management, the nation's largest solid waste company, has made two offers...
Posted on August 18, 2008 9:11 AM
As we mentioned in a previous post, the folks at Cantos Communications Ltd. have posted an interview with InBev SA chief executive Carlos Brito talking about a possible InBev-Anheuser-Busch Cos. combination. He says plenty about the advantages and addresses concerns, but if you aren't able to watch it for yourself,...
Posted on June 12, 2008 10:06 AM
The Deal's Mary Kathleen Flynn sits down with Ken Klee, editor of Corporate Dealmaker, at The Healthcare Dealmaking Symposium to discuss how the turmoil in the financial markets is affecting deals within the healthcare market. In this clip, Klee talks about the narrowing of the IPO window around biotechs, M&A...
Posted on March 31, 2008 2:38 PM
Murphy's law has been enveloping VaxGen Inc. Its latest negative came Friday, after the cash-strapped biopharmaceutical company had to terminate a deal, reporting strong shareholder opposition to a proposed merger with privately held...
Posted on March 31, 2008 2:05 PM
You already knew that divesting is not as easy as hammering a for sale sign into the ground and waiting around for offers. But you may not be aware that one of the most common mistakes executives make when divesting a subsidiary is not preparing financial statements for the sale,...
Posted on March 10, 2008 1:15 PM
Clearwire Corp. said they are in active talks with Sprint Nextel Corp. It was similar to the message that new Sprint Nextel CEO Dan Hesse relayed a week earlier, during an earnings call. But is it possible they could be bringing in partners to help finance the deal?Clearwire and Sprint...
Posted on March 5, 2008 1:10 PM
Merging pilot seniority lists nearly always presents a significant hurdle in airline mergers, as we're seeing now in the possible pairing of Delta Airlines Inc. and Northwest Airlines Corp. According to The Wall Street Journal (subscription only), the airlines are seeking the blessing of unionized pilots before...
Posted on February 19, 2008 11:17 AM
A look at the art and (maybe) science of managing the cast of characters needed to make deals successful.
Posted on August 15, 2007 7:10 PM
Settling a lawsuit that alleges wrongdoing is no reason for a company to rejoice. But there is sometimes a consolation, in the form of a tax deduction for settlement payments and related costs. In general, deductibility depends on whether the expenditures stem from actions taken in the ordinary conduct...
Posted on February 15, 2007 1:26 AM
Acquirers continue to favor taxable transactions that enable them to enjoy a stepped-up cost basis in their targets - a boon if they should later want to sell.
Posted on August 15, 2006 1:24 PM
Determining just how to measure merger success is a core issue that should be part of the earliest post-merger integration planning.
Posted on June 15, 2006 7:52 PM
If approved by the High Court in London and Alliance stockholders, Alliance Boots will be Europe's largest retail pharmacy owner.
Posted on April 15, 2006 3:44 PM
Clashing cultures have undermined many a merger. But savvy acquirers like Harrah's Entertainment and Brady have learned how to avoid problems - and even turn cultural differences to their advantage.
Posted on February 15, 2006 4:15 PM
Hedge fund managers know the rules about disclosing their positions: If they beneficially hold more than 5% of an issuer's Securities and Exchange Commission-registered equity securities, they must file the appropriate form with the SEC. Doing so without tipping off the market to their strategies can be difficult, especially when...
Posted on October 15, 2005 3:56 PM
Key to Procter & Gamble Co.'s pending $57 billion acquisition of Gillette Co. are the $14 billion to $16 billion in cost savings the consumer products giant expects to wring from the combination. While those projected synergies have multiple sources, a significant one is the expectation that P&G can...
Posted on April 15, 2005 3:24 PM
It's 2004. Do you know where your M&A banker is? It's not such an easy question to answer these days. Investment banking executives, long known for business units that boom and bust along with markets, have outdone themselves in recent years. M&A specialists were among the hardest hit in the...
Posted on February 15, 2004 5:04 PM
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Juergen Lasowski
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