July-Aug. 2006

Posted on August 16, 2006 at 12:55 PM
Filed under: CD Community | Cover Story | July-Aug. 2006 | The Magazine
Tagged: AT&T Wireless , auction , AWE , Cingular , Clearwire , diligence , DoCoMo , Josh King , McCabe , negotiations , newspapers , Nextel , Sarin , Steve McGraw , T-Mobile , telecom , Telefonica , timeline , Vodafone , Wasser , Zeglis

Marathon days and grueling nights. Secrecy and front-page news. And a final exhausting vigil before a $47 billion climax.  Continue reading

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Posted on August 16, 2006 at 12:30 PM
Filed under: July-Aug. 2006 | The Magazine | Trends
Tagged: AT&T Wireless , auction block , auctions , Blackston , hedge funds , Jenny Craig , M&A , Nestle , NorthWestern , private equity , Quiznos , trends

The M&A market will inevitably cool, but more efficient processes for selling companies are likely to be a permanent part of the scene.  Continue reading

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Posted on August 16, 2006 at 12:00 PM
Filed under: Integration | July-Aug. 2006 | The Magazine
Tagged: acquired , communication , corporate culture , cross-border , cross-border intergration , headhunters , HR , human factor , human resource , integration , leadership , marriage , mergers , PMI , R&D , social stakes , staffing , synergies , talent retention

How do you organize thousands of employees from countries with varying languages and customs, not to mention labor laws, into a single, efficient organization?  Continue reading

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Posted on August 16, 2006 at 11:07 AM
Filed under: Acquisitions | Corporate Strategy | Growth Strategy | July-Aug. 2006 | The Magazine
Tagged: acquisitions , Apple , Chancery Software , iPod , Pearson , PowerSchool , SIS

Pearson plc is expanding its presence in student information systems, while at the same time exploring innovative ways to deliver content.  Continue reading

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Posted on August 15, 2006 at 1:38 PM
Filed under: Job Description | July-Aug. 2006 | The Magazine
Tagged: HR , job description , M&A , nondisclosure agreements , outsourcing , Prudential , risk management , Suzanne Manganiello

Outsourcing Prudential Financial's HR functions poses big risks. It's Suzanne Manganiello's job to manage them.  Continue reading

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Posted on August 15, 2006 at 1:24 PM
Filed under: Acquisitions | July-Aug. 2006 | Law | The Magazine
Tagged: accounting , acquirers , cash , deal structure , merger , reorganization , Robert Willens , shareholders , stock , tax , type A , type B

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.  Continue reading

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Posted on August 15, 2006 at 1:16 PM
Filed under: Acquisitions | July-Aug. 2006 | Legal Brief | The Magazine
Tagged: BASF , bid , Engelhard , hostile , law , legal briefing , offer , takeover , unsolicited

Back in the 1980s, any unsolicited takeover bid could be expected to lead to contentious litigation, which in turn would often determine the outcome of the bid. No more. Today, while an unsolicited offer can still lead to the courtroom (witness the suit filed by Mirant Corp. in support...  Continue reading

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Posted on August 15, 2006 at 1:10 PM
Filed under: Acquisitions | July-Aug. 2006 | Law | Q&A | The Magazine
Tagged: deals , government , IRS , law , lawyer , Mark Silverman , Q&A , tax , tax issues , transactions

Top tax lawyer Mark Silverman explains an IRS pilot program for expedited private rulings on complex tax issues in transactions.  Continue reading

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Posted on August 15, 2006 at 12:59 PM
Filed under: Intellectual property | July-Aug. 2006 | The Magazine | Thinkery
Tagged: copyrights , divestiture , intellectual property , IP , licensing , patents , software , technology , thinkery

Breaking out IP in a divestiture gets even more complex when multiple business units within the corporation use it.  Continue reading

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Posted on August 15, 2006 at 12:35 PM
Filed under: Corporate Strategy | July-Aug. 2006 | The Magazine
Tagged: Cisco , corporate strategy , IPDR , IPTV , Lansford , Neil Prasad , Primal Solutions , software , Tim Hoolihan , UWB

Collaborating in standards groups is expensive, time-consuming, frustrating and often worth it. Here's how one makes it work.  Continue reading

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Posted on August 15, 2006 at 12:27 PM
Filed under: Case Studies | Corporate Venture Capital | July-Aug. 2006 | The Magazine
Tagged: Applied Materials , mature industry , Meliar-Smith , Molecular Imprints , partnering , Sematech , semiconductors , Steen , SUNY Albany , TEL , Tokyo Electron , universities , VC

How to compete in a maturing semiconductor equipment industry? For Tokyo Electron, the answer is more partnering--with universities, and now with startups via a new VC operation.  Continue reading

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Posted on August 15, 2006 at 12:14 PM
Filed under: Acquisitions | Divesting and Restructuring | Joint Ventures and Alliances | July-Aug. 2006 | People | Q&A | The Magazine
Tagged: auctions , deals , divstitures , joint ventures , Kodak , Monderer , Q&A , virtual data rooms

Observations on auctions from the man who executed a $4 billion M&A program in support of Kodak's digital transformation.  Continue reading

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Posted on August 15, 2006 at 11:43 AM
Filed under: Acquisitions | Corporate Strategy | July-Aug. 2006 | The Magazine
Tagged: Best Buy , Carrefour , China , hypermart , Jiangsu , majority stake , retail

With a majority stake in a Chinese retailer, Best Buy is going to find out how its customer-centric business model works in an even more competitive, price conscious market than the one it faces in North America.  Continue reading

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Posted on August 15, 2006 at 11:31 AM
Filed under: Corporate Strategy | July-Aug. 2006 | The Magazine
Tagged: anthrax , bioscience , biosensors , defense , licensing strategy , life sciences , pharma , U.S. Genomics

U.S. Genomics hopes to adapt its analyzer technology to detect bioterror threats, like the anthrax sent through U.S. mail.  Continue reading

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Posted on August 15, 2006 at 11:26 AM
Filed under: Corporate Strategy | Corporate Venture Capital | Joint Ventures and Alliances | July-Aug. 2006 | Outsourcing | The Magazine
Tagged: alternative energy , biofuel , corporate venture capital , E. I. du Pont , joint ventures , Marathon Oil , outsourcing , Peter Allen , Pure Energy , TPI , trend tracker , US BioEnergy

Energy sector investments are heating up; outsourcing contacts are getting shorter in duration; and E. I. du Pont de Nemours and Co. and BP plc form a joint venture to produce butanol from sugar beets...  Continue reading

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Posted on August 15, 2006 at 11:13 AM
Filed under: Acquisitions | July-Aug. 2006 | People | The Magazine
Tagged: acquisitions , Altiris , Bally Fitness , Franger , Gap Inc. , Gayle , Lee Bird , Microsoft , movers , Nike , Nine Systems , Oracle , partnerships , RightNow , Rob Green , Scott Creighton , Steve Madigan , strategic alliances

Bird makes tracks from Gap Inc.; Creighton leaves Oracle; Madigan signs on at Altiris; Nine Systems lures Green; and Franger sets her sights on Bally Total Fitness.  Continue reading

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Posted on August 15, 2006 at 11:01 AM
Filed under: Acquisitions | July-Aug. 2006 | People | The Magazine
Tagged: acquisitionHibernia , Capital One , credit card , lender , movers , North Fork , retail banking , Richard Fairbank

When Capital One Financial Corp. announced its second big bank acquisition in a year in March, the move raised more than a few industry eyebrows. The McLean, Va.-based credit card giant's strength lies in using data and technology to statistically assess consumers' needs and payment abilities, and then provide...  Continue reading

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Posted on August 15, 2006 at 10:58 AM
Filed under: From Ken | July-Aug. 2006 | The Magazine
Tagged: corporate dealmaker , editor , editor's letter , Klee

There are more than a few evocative images in Josh King's inside account of the AT&T Wireless auction. But the one I like best is the one you see on the cover: champagne and cold scrambled eggs. It's a still life that captures both the bubbly highs and the ironic...  Continue reading

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