18 result(s) displayed (1 - 18 of 18):
It's not news that a hyper-competitive hiring market awaits job seekers in 2009. How tough is it for those hunting corporate development jobs? For perspective, we checked in with Randy Gulian, whose search firm InSearch Worldwide, acquired by Allegis Group Services Inc. in October, specializes in mid- to executive-level searches...
Posted on January 6, 2009 1:06 PM
When Dow Chemical Co.'s planned $19 billion joint venture with Kuwait's Petrochemical Industries Co. failed on Sunday, it cast doubt on the chemical giant's other blockbuster deal: its $18.8 billion acquisition of Rohm and Haas Co. Why? Because as The Deal's Kenneth Klee noted in early December, the proceeds from...
Posted on December 29, 2008 12:40 PM
Recent staffing decisions by executive recruiter Heidrick & Struggles International Inc. offer some insight into how seismic shifts in financial services and tight credit markets are affecting hiring decisions by banks and investment firms worldwide. For one, the firm is adding staff to better manage and build its international financial...
Posted on December 18, 2008 2:28 PM
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
Deal volume in the U.S. was off 38% through November. That's bad. But when you break out volume by month, it's staggering. According to Howard Lanser, director of M&A for the middle-market investment bank Robert W. Baird, U.S. dealmaking in November plunged 86% from November 2007. A huge factor, certainly,...
Posted on December 16, 2008 12:50 PM
In this recession-dulled, credit-deprived M&A market, many companies are taking their time vetting deals. Why? Well, for one, there's not nearly as much competition for attractive targets as there was a year or two ago. Another reason, says Dominick DeChiara, who chairs the private equity group at Nixon Peabody LLP,...
Posted on December 15, 2008 1:21 PM
Now that Merrill Lynch & Co. shareholders have approved the firm's sale to Bank of America Corp., employees at both companies may finally get word on job cuts. BofA chief executive Ken Lewis told The Charlotte Observer on Thursday that the bank was "in the final stage of analysis" on...
Posted on December 5, 2008 9:58 AM
Curious news Wednesday that Goldman Sachs Group Inc. is considering starting an online bank. As The Wall Street Journal first reported, the new unit would broaden Goldman's portfolio and provide another outlet through which to seek deposits. The New York financial giant became a bank holding company in September and...
Posted on December 3, 2008 2:53 PM
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
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
We've been writing a lot over the past few months about laid-off investment bankers and the career options out there for them. But a conversation with David Carney, a principal with Deloitte Consulting LLP, offered a sobering assessment of what it's like for some of the thousands of rank-and-file employees still...
Posted on October 1, 2008 11:10 AM
The bank consolidation and government bailouts taking place in Europe are keeping pace with what we're experiencing in the United States. Recent transactions include European lender Dexia SA receiving a $9.2 billion cash infusion from the governments of France, Belgium and Luxembourg; and Lloyd's TSB Group plc buying Scotland's HBOS...
Posted on September 30, 2008 12:15 PM
The expanding financial crisis is not only completely remapping the world of finance, it's also forcing a rewrite of the traditional rules of integration. Most strategic consultants agree that post-merger integration issues covering IT systems, personnel, training, real estate, branding and others should be discussed and budgeted for long before...
Posted on September 29, 2008 5:12 PM
You might think we're referring to Monday, Sept. 29. That's when Citigroup Inc. announced it was buying Wachovia Corp. for $2.16 billion in stock. But Oct. 2, 2006, would be just as accurate. That's the day Wachovia closed its nearly $26 billion acquisition of Golden West Financial Corp. Even at...
Posted on September 29, 2008 12:03 PM
We've been asking the question a lot around here lately: How are strategics being affected by the turmoil on Wall Street? Early Friday, our Baz Hiralal noted that the credit squeeze has Cablevision Systems Corp. chief executive Jim Dolan questioning whether asset sales can get done. The Deal's Andrea Orr,...
Posted on September 19, 2008 4:51 PM
"Like a kid in a candy store." That's how Wells Fargo & Co. chairman Dick Kovacevich is feeling about the M&A market for financial services. According to the San Francisco Business Times, Kovacevich told members of the Association for Corporate Growth on Wednesday that his company is "buying with both...
Posted on September 18, 2008 5:08 PM
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