25 result(s) displayed (1 - 25 of 27):
Among the jolts the M&A market has absorbed since 1999 is a dramatic increase in shareholder activism. But it's not just notable investors such as Carl Icahn, Daniel Loeb, Warren Lichtenstein and T. Boone Pickens -- who've been at it for decades -- agitating for change. These days, it's more...
Posted on September 17, 2009 9:09 AM
As it expected, CF Industries Holdings Inc. (NYSE:CF) said the Hart-Scott-Rodino premerger waiting period for its hostile $3.7 billion (The Deal questions that value) offer for Terra Industries Inc. (NYSE:TRA) has expired. Terra's board said it will consider CF's latest proposal at a meeting to be held prior to the...
Posted on August 6, 2009 9:14 AM
Eco-conscious Henry "Hank" Paulson Jr., former U.S. secretary of the Treasury, will join the likes of Farallon Capital Management's chief investment officer Thomas Steyer, former Morgan Stanley (NYSE:MS) managing director Thomas Cardello and others on the board of California electric car and battery startup Coda Automotive.Young Coda has attracted some...
Posted on July 30, 2009 3:45 PM
Martin Davis, head of the technology integration office of Wells Fargo & Co. (NYSE:WFC) and Wachovia Corp., had some impressive insights into the world of IT integration. Speaking to InformationWeek, Davis, previously CIO of Wachovia, talks of the emotion involved when picking one software system and killing off another....
Posted on July 24, 2009 2:46 PM
A Financial Times report said Microsoft Corp. (NASDAQ:MSFT) tapped Morgan Stanley (NYSE:MS) to find a potential buyer for Razorfish, its digital agency, in a deal that could be worth around $600 million to $700 million. Microsoft gained Razorfish -- which designed the logo for new search function Bing -- when...
Posted on June 29, 2009 11:35 AM
The latest: IBM Corp. (NYSE:IBM) named Elias Mendoza, who joined the company three years ago from Morgan Stanley (NYSE:MS), to head its corporate development team. IBM made the move as it battles former M&A chief David Johnson in court, who was lured away by rival Dell Inc. (NASDAQ:DELL).Dell has long...
Posted on June 24, 2009 11:15 AM
Mexico's Cemex SAB de CV (NYSE:CX) is selling its Australian assets to Holcim Ltd. for A$2.02 billion ($1.64 billion). The deal is seen as a good strategic move, but a true valuation sent Cemex shares tumbling.A Bloomberg report quoted an analyst saying there is little reason to own shares...
Posted on June 15, 2009 2:28 PM
It seems Morgan Stanley (NYSE:MS) and Citigroup Inc. (NYSE:C) may have jumped too quickly to close their $14 billion brokerage joint venture. The companies closed the deal, which merged Morgan Stanley's brokerage with Citi's Smith Barney unit, on June 1, months ahead of schedule. Now, though, the Financial Times is...
Posted on June 15, 2009 12:59 PM
Dahlman Rose & Co. LLC wrote in a research report Thursday that Richmond, Va.'s James River Coal Co. (NASDAQ:JRCC) could be tasty fodder for companies operating in Central Appalachia, including Massey Energy Co. (NYSE:MEE), Alpha Natural Resources Inc. (NYSE:ANR), International Coal Group Inc. (NYSE:ICO) and Teco Energy Inc. (NYSE:TE)....
Posted on June 12, 2009 9:15 AM
Investment banking veteran Michael Caulfield, like many of his Bank of America Corp. (NYSE:BAC) colleagues, has left the firm. But he didn't defect to a rival, instead choosing to join a company he was charged with figuring out strategic alternatives for -- Digital Ally Inc. (NASDAQ:DGLY).First, a little background...
Posted on June 2, 2009 1:35 PM
Morgan Stanley (NYSE:MS) and Citigroup Inc. (NYSE:C) closed Monday on their brokerage joint venture, months ahead of schedule. The deal, which mergers Morgan Stanley's global wealth management group with Citi's Smith Barney U.S. unit, was originally targeted to close in the the third quarter of 2009. The combined brokerage, called...
Posted on June 1, 2009 11:07 AM
It looks like Pepsi Bottling Group Inc. (NYSE:PBG) is accusing PepsiCo Inc. (NYSE:PEP) of recession bidding. PepsiCo's $6 billion cash-and-stock offer to buy out the bottler and PepsiAmericas Inc. was reviewed by a special committee being advised by Morgan Stanley and Cravath, Swaine & Moore LLP.The committee decided the offer...
Posted on May 4, 2009 10:02 AM
At 12 p.m. Tuesday, Ernst & Young will host a live Webcast to discuss the global technology mergers and acquisitions landscape from a corporate and private equity perspective. The experts on hand will include:Nick Osborne -- managing director and head of global technology M&A for Morgan Stanley;Joseph Steger -- global...
Posted on April 7, 2009 10:58 AM
The relationship between Mitsubishi UFJ Financial Group Inc. and Morgan Stanley (NYSE:MS) has gotten a bit more serious. MUFG director Nobuyuki Hirano (pictured) has joined Morgan Stanley's board as part of a global alliance the firms are pursuing. The appointment follows MUFG's $9 billion capital injection into the U.S. bank in...
Posted on March 12, 2009 8:50 AM
Bank of New York Mellon is planning a mutual joint venture in China with Chinese brokerage firm Western Securities Co. BoNY announced Monday that it expects approval from the Chinese Regulatory Securities Commission in time to launch BNY Mellon Western Fund Management Co. by the third quarter. BoNY will own...
Posted on February 24, 2009 11:23 AM
Technology integration is almost always a complex exercise. And as we noted when Citigroup Inc. and Morgan Stanley announced plans to combine their brokerage businesses, it can be even more so in financial services, where vast customer databases must be merged and where security and confidentiality are critical. On Thursday,...
Posted on February 6, 2009 1:40 PM
As companies realign their priorities to better reflect economic realities, joint ventures appear to be a popular area of focus. Over the past few weeks, we've seen a number of companies delay, restructure or abandon JVs altogether. The most high profile in the group is Kuwait Petrochemical Industries Co., which...
Posted on January 30, 2009 12:40 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
Initially triggered by mortgage related write-downs, the trifecta of an across-the-board repricing of risk, a shrinking universe of credit providers, and a pervasive lack of confidence in near-term corporate sales and earnings projections, have caused many companies to delay or reconsider altogether accessing capital markets.
Posted on December 9, 2008 3:09 PM
When you see the brand-new Ocean Spray Cranberries Inc. float in the Macy's Thanksgiving Day Parade--it's the one with James Taylor warbling from it--let it serve as a handy reminder that there's more than one way to run a business. Lakeville, Mass.-based Ocean Spray is a co-operative, formed in 1930...
Posted on November 26, 2008 12:08 PM
In a decision that could pull in $16 billion worth of investment, global index provider FTSE Group just upgraded South Korea from an "advanced emerging" market to "developed" status. The U.S. is struggling, but, Treasury Secretary Henry Paulson considers creating an entity to eat up bank's bad debt.
Posted on September 18, 2008 3:39 PM
Between our print publication - Corporate Dealmaker - and this blog - CD Forum - we've been highlighting the responsibilities and challenges faced by corporate development executives for about the past four years. So we were happy to see that McKinsey & Co. had pulled together an impressive group...
Posted on May 26, 2008 8:23 AM
Give Huawei Technologies Co. Ltd. credit for strategic flexibility. According to a report in The Wall Street Journal (subscription required), the Chinese telecom equipment maker has hired Morgan Stanley to arrange the sale of a stake in its mobile-devices division to a foreign company or PE firm, with the goal...
Posted on May 8, 2008 9:46 AM
Leading up to the publishing of our next Corporate Dealmaker magazine later this month, we've been telling you about investments in the emerging markets. Our contacts at Paul, Hastings, Janofsky & Walker LLP just reminded us of the flip side of the equation with a report called "Acquisition of U.S....
Posted on March 7, 2008 9:37 AM
India's latest budget, presented in New Delhi on Feb. 29 by Finance Minister Palaniappam Chidambaram, has already drawn plenty of commentary on what it means for various constituencies, and for the prospects of the ruling Congress party in the next election.Here at Corporate Dealmaker, we're particularly interested in the question of...
Posted on March 3, 2008 8:17 AM
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