21 result(s) displayed (1 - 21 of 21):
Some food companies are feeling pinched, but one business in the U.K. sees a sweet profit in the downturn. The Courtyard Shop at Mains of Taymouth has created Credit Crunch Cookies. The tins of shortbread chunky chocolate chip cookies cost $8.00.A bit pricey for cookies. But unemployed bankers can probably...
Posted on February 26, 2009 4:23 PM
Speaking at The Deal's M&A Outlook 2009 conference in New York Tuesday, senior writer Matt Miller said: "I think you'd all agree the liquidity crisis is pretty much universal. With the ability to raise debt so impaired, what has been the creative response for those who want to get deals...
Posted on November 11, 2008 1:45 PM
What do Carl Icahn and Steve Schwarzman (pictured right of Icahn) have to say about the imploding economy? Thanks to Yale University, you can find out for yourself. The activist investor and Blackstone Group LP co-founder spoke at the university recently and their lectures are available on Yale's Web site....
Posted on October 17, 2008 1:02 PM
Mexico's Cemex SAB de CV, one of the world's largest cement makers, is being forced to cut costs, jobs and sell assets as it reported losses due to the U.S. housing crisis.From 1995 to 2001, the Mexican giant did 25 acquisitions. Last year, it spent $16 billion on Australia's Rinker...
Posted on October 16, 2008 5:30 PM
Monday we noted three hostile deals abandoned in one day. Tuesday Rob Kindler, a vice chairman at Morgan Stanley in New York, weighs in via a Bloomberg article: "With credit markets now in total disarray, M&A will be exceptionally slow for the rest of the year, excluding deals driven by...
Posted on October 14, 2008 1:11 PM
Deerfield, Ill.-based Walgreen Co. just opened the door for its biggest rival, CVS Caremark Corp. Late Wednesday, Walgreen dropped its $2.8 billion bid for pharmacy chain Longs Drug Stores Corp. leaving CVS as the only bidder for Longs. In a letter to Longs' board Walgreen chairman and CEO had...
Posted on October 9, 2008 9:03 AM
Shaky credit markets have prompted Las Vegas' MGM Mirage to bargain with lenders to change the terms of a $7 billion loan agreement. The changes increase the maximum total leverage ratio, modifies pricing levels and certain definitions and limitations on secured indebtedness. The AP reported the move gives some...
Posted on October 6, 2008 5:02 PM
"Russian Machines has made a decision to terminate the participation as a shareholder in Magna International due to the current global financial crisis." You can tell investors aren't keen on the near future of the global economy. U.S. markets were down midafternoon even after the House approved a $700...
Posted on October 3, 2008 3:32 PM
The Senate is set to vote Wednesday night on a new bailout bill to ease the U.S. financial crisis, but that won't help Anglo-Swiss miner Xstrata plc, which pulled its £5 billion ($8.9 billion) offer for British platinum miner Lonmin plc due to lack of financing. Still, after walking away, Xstrata spent about $786 million for shares in Lonmin...
Posted on October 1, 2008 9:19 AM
The folks over at Grant Thornton International Ltd. put together an international business report, entitled titled Mergers and acquisitions: Opportunities for global growth. The report confirms what we've been hearing for months: that the recent tightening of lending policy and an uncertain economic outlook has had an impact on...
Posted on May 23, 2008 12:59 PM
Results from the latest stage of an ongoing Towers Perrin/Cass Business School research project indicate that 2008 may be the best time to acquire. They suggest that over the last two merger waves, deals done in the year following the peak create more shareholder value than those completed during...
Posted on May 20, 2008 12:11 PM
Some big banks are predicting the worst of the credit crunch is over, but most agree the remnants of the crisis will slow the pace of acquisitions for 2008. Take the metals market for example. Investment bank Brown Gibbons Lang & Co. issued their BGL Metals Insider report, saying they...
Posted on May 8, 2008 5:19 PM
Landry's Restaurants Inc. chairman, president and CEO Tilman Fertitta is making adjustments to his $1.3 billion bid to take the Houston firm private. On Wednesday, Landry's hired Cowen and Co. LLC to explore strategic alternatives, including a sale. Fertitta quickly renewed a take-private offer first proposed in January.His $23.50...
Posted on April 4, 2008 5:49 PM
At a construction equipment exhibition last month, Caterpillar Inc. chairman and CEO Jim Owens outlined long-term growth expectations for the Peoria, Ill., manufacturer. Owens said the company plans to invest about $2.3 billion in...
Posted on April 3, 2008 3:00 PM
While the world laments the death of M&A given the credit crunch, financial institutions crumbling and the gyrating stock market, oil and gas, power and mining deals are thriving. According to three separate reports over the past month by PricewaterhouseCoopers, M&A value levels were up .3% in the oil and...
Posted on April 2, 2008 2:51 PM
If you're a corporate dealmaker pursuing growth strategies in China or India, there's a wealth of resources out there. But whether they're surveys or reports from consultants, presentations at conferences around the world or reports from news organizations, the trick is finding and making sense of them. That's the purpose...
Posted on March 13, 2008 7:38 AM
On March 19, The Deal will be hosting a Healthcare Dealmaking Symposium, monitoring the current pace of healthcare M&A deals and developing an outlook for 2008. Fittingly, Brown Gibbons Lang & Co. just issued their quarterly newsletter, BGL...
Posted on March 10, 2008 4:14 PM
Stephen Gaines, a managing director and head of KPMG Corporate Finance LLC, sat down with Corporate Dealmaker to discuss the role of covenant-lite debt in a recession and why distressed companies might not offer as many investment opportunities as some expect. Commenting on the easy debt terms that leveraged companies...
Posted on February 22, 2008 2:26 PM
With less liquidity in the market and tighter credit standards now in place, it is likely that credit defaults will dramatically rise and companies will no longer be able to refinance themselves out of their financial challenges. This...
Posted on February 12, 2008 12:26 PM
Whether we're in or headed for an actual recession is still being debated, but there's not much doubt that credit is painfully tight. Which is why on Wednesday at 2 p.m. Deloitte Financial Advisory Services LLP is hosting a Webcast, "The Credit Crunch: What Happened and Where Do We Go...
Posted on February 11, 2008 4:24 PM
Go-shop clauses are on the rise, but they should be used with caution and, at times, even resisted.
Posted on December 15, 2007 1:43 PM
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Juergen Lasowski
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