Developments Valassis to buy Advo for $1.3B P&G said to be cutting traditional ad buying Interpublic's accounting woes continue Form 12b-25 re: 1Q 2005 Form 10-Q Form 12b-25 re: 2004 Form 10-K Select Companies Advo Inc Investor Relations Corporate Governance Stock Price Profile DE NYSE 9/30 Catalina Marketing Investor [more...]
Developments United Airlines to emerge from bankruptcy Independence Air (FLYi) shuts down Delta projects 2005 loss of $2.1 billion US Airways sells $777 million in debt Morgan Stanley loses $1 billion on airline finance US Airways files for $172 million equity offering US Airways Chapter 11 plan approved Delta and Northwest file [more...]
BlackRock / Merrill Lynch Investment Managers Merrill combines its fund business with BlackRock Creates 4th largest US asset manager Pro forma ownership of combined entity Merrill Lynch - 49.8% PNC - 34% BlackRock public shareholders - 16% Follows failed Morgan Stanley talks with BlackRock Announced 2.15.06 Press release Slide presentation
Developments Ford to sell Jaguar and Land Rover to Tata Motors GM sells majority stake in GMAC to Cerberus group Ford completes sale of Hertz to buyout group Ford and UAW reach health care agreement GM restates financials Delphi files for bankruptcy Ford acquires 24 Visteon plants GMAC sells 60% of commercial [more...]
Developments Webster Financial to acquire NewMil Bancorp Carver Bancorp to buy Community Capital NYCB to buy Atlantic Bank Notable Transactions NewMil Bancorp / Webster Financial Stock - Cash Merger Connecticut banking company acquires another For $172.5mm in cash and stock Stock portion subject to a collar [more...]
Developments Bank of New York and JP Morgan swap businesses Fed lifts ban on Citigroup's making acquisitions Citigroup investor presentation Citigroup and Legg Mason swap businesses Bank of America to buy MBNA for $35 billion Citigroup completes sale of Travelers to MetLife Mitsubishi Tokyo - UFJ merger nears completion Bank [more...]
Developments Republic Bancorp to merge with Citizens Banking Sovereign closes controversial Independence acquisition Regions Financial to merge with AmSouth Wachovia to buy Golden West Capital One to buy North Fork Bancorp TD Banknorth closes Hudson United Bancorp Santander invests in Sovereign Bancorp ; Sovereign to buy Independence Community [more...]
Developments Vincor reverses itself: Accepts Constellation offer Constellation terminates its unsolicited offer for Vincor SABMiller to buy Colombian brewer for $7.8 billion SEC investigates Molson Coors merger SABMiller buys control of Slovak brewer Topvar 5.09.05 Molson Coors merger of equals closes 2.09.05 Select Companies [more...]
Developments Televisa won't roll over its 11.4% stake in Univision Private equity group wins auction for Univision Cablevision special committee to review $3B dividend Susquehanna Pfaltzgraff sells radio and cable Dolan family drops its Cablevision proposal Intelsat to buy PanAmSat for $3.2 billion Clear Channel [more...]
Developments Keefe Bruyette considering an IPO Merrill Lynch buys Advest Perelman wins judgment against Morgan Stanley Over its role as financial advisor to Sunbeam, to which Perelman sold Coleman for stock and cash Judge entered a default judgment against Morgan Stanley over omissions and delays in producing e-mails Told jurors to accept as [more...]
Developments Johnson Controls to buy York International Buyout of Royal Group Technologies Canadian maker of PVC and other building products $1.04 billion buyout offer from Cerberus Capital Management Subject to diligence and other conditions Press release 5.16.05 Company opens process to other bidders Press release 5.25.05 Press release 5.26.05 [more...]
Developments BASF closes unsolicited offer for Engelhard One Equity buys chemical business from Phelps Dodge BP sells its petrochemicals business to INEOS for $9B Kerr-McGee to carve-out its chemical business DuPont subpoenaed by Department of Justice Over PFOA , used in making Teflon nonstick coatings Press release 5.20.05 Select [more...]
Developments Berkshire Hathaway to buy Russell Corp for $600mm Talbots signs white knight deal to buy J. Jill Group Hedge fund investor criticizes Tommy Hilfiger buyout Bain Capital takes Burlington Coat private Apax Partners takes Tommy Hilfiger private Liz Clairborne makes unsolicited offer for J Jill Group Private equity investors compete [more...]
Developments Tyco International to split-up into three companies Cendant to split-up into four companies Cendant sells marketing services business for $1.83B Berkshire Hathaway caught up in AIG probes Berkshire Hathaway buys PacifiCorp electric utility GE sells medical liability insurer to Bershire Hathaway GE restates financials over hedge [more...]
Developments Whirlpool closes on Maytag after DOJ clearance P&G closes Gillette acquisition Whirlpool wins bidding for Maytag Maytag in $1.13 billion LBO Notable Transactions Maytag / Whirlpool Competing Offers Whirlpool wins bidding for Maytag Maytag finds Whirlpool offer to be a superior [more...]
Notable Deals 2007 VISA takes first steps to an IPO Morgan Stanley spin-off of Discover set for June 30 2006 MasterCard goes public Capital One buys North Fork Bancorp Bank of America acquires MBNA 2005 HSBC buys Metris Washington Mutual buys Providian CapOne renegotiated Hibernia over Hurricane Katrina Neiman Marcus sells private-label card business to [more...]
Developments Boeing to buy Aviall for $1.7B General Dynamics to buy Anteon for $2.2B DRS Technologies to buy Engineered Support SAIC plans to go public BAE (UK) closes acquisition of United Defense (US) L-3 Communications buys Titan Corp Lockheed Martin - Boeing create rocket launch JV Titan acquisition terminated over FCPA violations [more...]
Developments Merck KGaA makes $17B unsolicited offer for Schering AG Watson Pharma to buy Andrx for $1.9B Merck hit with VIOXX judgment Merck voluntarily recalled VIOXX Announced 9.30.04 Lost over $30 billion in market value Stock chart Merck webpage Loses first case 8.19.05 TEVA to buy IVAX for $7.4 billion Brazil threathens to break [more...]
Developments Anadarko in 3-way merger with KerrMcGee - Western Gas Energy Ptnrs makes competing offer for Stone Energy ConocoPhilips closes acquisition of Burlington Resources Southern Union to buy Sid Richardson Energy for $1.6B Occidental Petroleum to buy Vintage Petroleum Chesapeake Energy buys Columbia Natural Resources Norsk Hydro to buy [more...]
Developments Cedar Fair to buy Paramount Parks from CBS for $1.24B Paramount Parks / Cedar Fair Subsidiary Sale Cedar Fair to buy Paramount Parks from CBS for $1.24B Announced 5.22.06 Press release Advisors FUN: Bear Stearns / Rothschild / Squire Sanders CBS: Related Topics Media Companies
Developments Johnson Controls closes acquisition of York International York International / Johnson Controls Cash Merger $3.2 billion cash acquisition Advisors Johnson Controls: JPMorgan / Foley & Lardner York: CSFB / Wachtell Announced 8.24.05 Press release Deal summary Closed 12.09.05 Form 8-K Form 15 Proxy [more...]
Developments Ebay buys Skype for $2.6 billion plus an earnout Ebay closes Shopping.com acquisition Borders Online v California State Board California's 1 st District Court of Appeal (San Francisco) Borders Online should have been collecting CA sales tax Court finds too many ties between brick-and-mortar stores and ostensibly [more...]
Developments Burger King files for IPO BusinessWeek article 12.15.05 Vornado Realty uses derivatives for stake in McDonalds Wendy's to sell part of Tim Hortons in IPO Hedge fund pressures Wendy's Suffered "finger in the chili" fraud Checkers Drive-In explores alternatives AFC Enterprises (Popeye's) to pay $12 special dividend Lease accounting [more...]
Financial Services Topic Pages Banks - Money Center Banks - Regional Banks - Community Broker Dealers (I-Banks) Credit Card Companies Insurance Companies Specialty Finance Stock Traders (Exchanges) Developments NY Attorney General loses jurisdictional challenge Challenges brought by Comptroller and Clearing House Assoc New York AG [more...]
Developments Heinz buys French condiments company SEC ends investigation of General Mills' sales practices New name: The Hershey Company Monsanto buys Seminis Select Companies General Mills Inc 3Q 2005 Form 10-Q 2004 proxy statement 2004 Form 10-K Investor Relations Corporate Governance Stock Price Profile DE NYSE 5/30 The Hershey [more...]
Developments Harrah's Entertainment gets $15.1B buyout proposal Aztar finds a counter-offer to be a superior proposal Aztar finds a 4 th offer to be a superior proposal Aztar gets two more competing offers Pinnacle Entertainment to buy Aztar for $1.45B Italian lottery company to buy Gtech for $4.65B Station Casinos wins patent dispute with [more...]
Developments HCA in $21B management-led consortium buyout J&J wins auction for Pfizer consumer healthcare Danaher to buy Sybron Dental for $2B Guidant accepts superior proposal from Boston Scientific Inamed accepts Allergan's Medicis-Inamed terminate their deal Medicis rejects unsolicited offer from Mentor Inamed receives superior [more...]
Developments United Health to buy John Deere Health Care for $500mm WellPoint buys WellChoice for $6.5 billion UICI to go private UnitedHealth to acquire PacifiCare for $8.1 billion Anthem-WellPoint merger closes Notable Transactions WellChoice / WellPoint Stock-Cash Merger Health benefits company buys New York health [more...]
Developments Host Marriott closes on 28 hotels; Changes its name Host Marriott - Starwood amend their deal Kerzner International to go private Blackstone to take MeriStar Hospitality private Fairmont Hotels finds white knight buyer Hilton Hotels to buy Hilton Group plc for $5.7B Blackstone group sells Summerfield Suites properties Host [more...]
Developments Sealy IPO - LBO exit Whirlpool wins bidding for Maytag Maytag declares Whirlpool offer a superior proposal Whirlpool increases offer for Maytag Chinese-led consortium drops bid for Maytag Maytag gets offer from Whirlpool (3 rd bidder) Chinese-led consortium bids for Maytag 10.5% holder criticizes Maytag LBO Maytag in $1.13 [more...]
Advertising Airlines Auto Beverages Broadcast Building Chemicals Clothing Conglomerates Consumer Goods Defense e-Commerce Energy Equipment Fast Food Financial Services Asset Managers Banks - Global Banks - Regional Banks - Community Broker Dealers Credit Card Insurance Specialty Finance Stock Traders Food Gaming Health Care Biotech Drug Insurers [more...]
Developments GE sells its reinsurance business to Swiss Re Lincoln National closes acquisition of Jefferson-Pilot Finite risk insurance Citigroup completes sale of Travelers to MetLife General Re caught up in AIG probes Berkshire Hathaway subsidiary Reported in settlement talks SEC charges Gen Re exec for aiding/abetting 6.06.05 AIG is [more...]
Developments Bidding wars continue for Canadian mining companies Inco agreed to acquire Falconbridge Xstrata made a competing offer for Falconbridge Teck Cominco made an unsolicited offer for Inco Phelps Dodge now in 3-way merger with Inco - Falconbridge Arcelor accepts unsolicited offer from Mittal Steel International Paper sells timberland [more...]
Developments Disney closes $7.4B acquisition of Pixar NBC Universal to buy iVillage for $600 million Disney to buy Pixar for $7.4B in stock CBS and Time Warner to combine UPN and WB networks Electronic Arts to buy JAMDAT Mobile News Corp buys IGN Entertainment Prince Alwaleed has 5.5% stake in News Corp Electronic Arts takes 67% stake in Swedish [more...]
Alderwoods Group / Service Corp International Cash Merger Combines providers of funeral and cemetery services $20 per AWGI share $856 million equity value AWGI stock chart Announced 4.03.06 Press release Slide presentation Proxy solicitation Definitive proxy statement 5.01.06 Table of contents Background Bear Stearns fairness opinion Interests [more...]
Application of DGCL Cases Oberly v Howard Hughes Medical Inst (Del Ch 1984) Plechner v Widener College Inc E.D. Pennsylvania 1976 Affirmed, Third Circuit 1977 Chapin v Benwood Foundation Inc (Del Ch 1979) Harrison v Chapin (Del 1980)
Developments Verizon takes steps to spin-off its yellow pages business RR Donnelley buys OfficeTiger for $250mm McClatchy to buy Knight-Ridder for $4.5B Hedge fund argues for RR Donnelley leveraged recap Knight Ridder's largest shareholder pushes for sale RH Donnelley buys Dex Media for $4.2 billion EW Scripps and Gannett buy e-Commerce [more...]
Developments PETCO in $1.8B buyout Michaels Stores in $6B buyout Sports Authority in $1.3B buyout Investment group to buy Albertson's Home Depot to buy Hughes Supply for $3.2B ShopKo accepts superior proposal from Sun Capital Party City buyout closes Linens N Things in $1.3 billion LBO Saks sells its northern stores to Bon-Ton for [more...]
Developments UPS to acquire Overnite Yellow Roadway completes its acquisition of USF Select Companies Fedex 1Q 2005 Form 10-Q 2005 proxy statement 2004 Form 10-K Investor Relations Corporate Governance Stock Price Profile DE NYSE 5.31 United Parcel Service Inc 1Q 2005 Form 10-Q 2005 proxy statement 2004 Form 10-K Investor Relations [more...]
Developments GM sells 51% of GMAC to Cerberus-led group JPMorgan Chase to buy Collegiate Funding Wachovia to buy Westcorp for $3.9 billion Fidelity National Title to go public in partial spin-off Credit Acceptance to restate its auto loan financing Doral Financial sued over financial restatement PHH spun-off from Cendant Select [more...]
Developments SEC indirectly supports NYSE-Euronext merger NYSE Group proposes to merge with Euronext Nasdaq holds 25% position in London Stock Exchange NYSE-Archipelago merger closes; Stock begins trading E*Trade to buy BrownCo from JP Morgan Chase E*Trade to buy HARRISdirect for $700 million NYSE - Archipelago add cash election provision [more...]
Technology Company Index Hardware Information Services Instruments Network Equipment Semiconductors Software Related Topics Industries
Developments Seagate to buy Maxtor for $1.9B Qualcomm brings patent claims against Broadcom Broadcom brings antitrust suit against Qualcomm AMD brings antitrust suit against Intel Sun Microsystems buys SeeBeyond IDT buys rival chip maker ICS for $1.7 billion HP separates its PC and printing businesses Notable Transactions [more...]
Developments EMC to buy RSA Security for $2.1B Computer Sciences announces $2B stock buyback Silver Lake takes Serena Software private Golden Gate takes GEAC (Canada) private Certegy to merge with Fidelity National Information Carlye Group takes SS&C Technologies private Sungard LBO closes - 2nd largest LBO ever Fidelity National Information [more...]
Fisher Scientific / Thermo Electron Stock Merger Creates leading instruments company for life sciences Will be renamed Thermo Fisher Scientific $10.6B stock exchange 2.00 TMO shares per FSH share Valued at $78.90 per FSH share FSH shareholders will own 61% pro forma Treated as a reverse merger with TMO as the acquirer FSH stock chart [more...]
Developments Alcatel to merge with Lucent Technologies Cisco to buy Scientific-Atlanta for $6.9 billion Nortel Networks buys PEC Solutions Notable Transactions Lucent Technologies / Alcatel Merger of Equals Cross-Border Merger of two leading telecom equipment suppliers Styled as a merger of equals Combined [more...]
Developments AMD to buy ATI Technologies for $5.4B Activist shareholders oppose Micron - Lexar Media KKR and Silver Lake buy Agilent's semiconductor unit AMD brings antitrust suit against Intel IDT buys rival chip maker ICS for $1.7 billion Notable Transactions ATI Technologies / AMD Cash-Stock Merger [more...]
Developments HP to buy Mercury Interactive for $4.5B Symantec hit with $900mm IRS notice of deficiency Oracle to buy Portal Software for $220mm IBM closes acquisition of Micromuse Adobe closes acquisition of Macromedia Autonomy closes acquisition of Verity EMC closes acquisition of Captiva Software Oracle buys Siebel Systems for [more...]
Developments Verizon takes steps to spin-off its yellow pages business Vonage Holdings IPO is troubled NTL to buy Virgin Mobile Verizon sells foreign businesses to Carlos Slim for $3.7B AT&T to acquire BellSouth for $67B in stock Sprint Nextel closes acquisition of Alamosa Nextel Partners purchase price settled Consortium buys TDC A/S [more...]
Developments Reynolds American buys chewing tobacco company Court overturns $10.1B judgment against Philip Morris RJR Tobacco risk factors Altria (Philip Morris) buys Indonesian cigarette company RJ Reynolds combines with BAT America 2004 Select Companies Altria Group Inc Renamed from Philip Morris Companies [more...]
Developments Duke-Cinergy merger closes Constellation Energy to merge with FPL Utilities poised to issue new debt-equity hybrid NRG Energy to acquire Texas Genco for $5.8 billion FERC approves Exelon-PSEG merger 4 th Circuit rules for Duke Energy over emissions Warren Buffet to buy PacifiCorp ALJ overturns SEC's approval of 2000 merger [more...]