mergers and acquisitions

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Barclays to Buy Parts of Lehman's Brokerage

Deal to give UK giant a US presence believed to be worth about $2B

(Newser) - Barclays has reached a deal to buy part of Lehman Brothers’ US business, the Financial Times reports. Lehman’s international divisions could eventually be brought into the deal, or the deal could allow for their acquisition later. Exact terms are unclear, but the Wall Street Journal adds that the figure...

Under Pressure, Sirius XM Tries to Look Ahead

Merged company works to develop subscribers, refinance debt

(Newser) - Satellite radio’s fortunes—thought to be peaking after Sirius and XM merged in July—are falling as the united company’s stock continues to tumble and management scrambles to refinance debt, reports the Wall Street Journal. Still, CEO Mel Karmazin says, the company is “heading toward making a...

Bank of America CEO Lands His Biggest Fish Yet
Bank of America CEO Lands His Biggest Fish Yet
ANALYSIS
Sep 15, 2008 10:29 AM CDT

Bank of America CEO Lands His Biggest Fish Yet

Merrill bid puts bold Lewis over $150B in acquisitions

(Newser) - Like predecessor Hugh McColl, Bank of America CEO Kenneth Lewis loves enormous deals. His 7-year reign has seen flashy conquests adding up to more than $150 billion, but never has he bagged a bigger trophy than Merrill Lynch, Reuters reports. The deal should fulfill Lewis’ oft-frustrated ambition to make BofA,...

Bank of America to Buy Merrill Lynch for $44B

(Newser) - In a day of toppling dominoes on Wall Street, Bank of America agreed to buy Merrill Lynch for $44 billion, or $29 a share—about two-thirds of what it was worth a year ago and 50% of its highest value in 2007, the Wall Street Journal reports. The deal, struck...

Maker of Marlboros May Buy Skoal for $10B

(Newser) - The nation’s largest cigarette maker, Altria Group, is in talks to acquire UST, the producer of Skoal and Copenhagen smokeless tobaccos for a rumored $10 billion, the New York Times reports. Altria, a spinoff of Philip Morris, makes Marlboro cigarettes. Negotiators were poised to strike a deal over the...

Coke Bids $2.4B for Chinese Juice Company

Soft-drink giant looks to capitalize on Olympic afterglow

(Newser) - Buoyed by its highly visible sponsorship role at the Beijing Olympics, Coca-Cola has made a $2.4 billion offer for a Chinese juice and nectar company, the Wall Street Journal reports. The deal would be the second-largest acquisition ever by the company, which has been expanding into non-carbonated beverages in...

UPS Denies Big Plans for Europe Expansion

Delivery giant eyeing China, not Dutch company, exec says

(Newser) - For the second time this summer, rumors that Dutch package-delivery company TNT NV was in talks with a potential US buyer—this time UPS for $15 billion—pumped up the company’s share price, reports Bloomberg. But the rally faltered as a UPS exec shot down the reports, asking Reuters,...

Bristol-Myers Makes Bid for Icahn's ImClone

Offers 29% premium for biotech partner; shares soar

(Newser) - Already a 17% shareholder, Bristol-Myers Squibb laid down a $4.5 billion offer to buy the  rest of ImClone shares, the Wall Street Journal reports. The $60-a-share offer, sent to ImClone chairman Carl Icahn today, is a 29% premium on yesterday's closing price and makes Bristol the second pharma giant...

FCC Approves Satellite Radio Merger
FCC Approves Satellite Radio Merger
Jul 25, 2008 8:21 PM CDT

FCC Approves Satellite Radio Merger

3-2 vote OKs $3.3B Sirius buyout of XM, ends 16-month drama

(Newser) - Federal regulators formally approved the merger of the United States' only two satellite radio operators today, ending a 16-month-long drama closely watched by Washington and Wall Street. Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc. will mean 18 million-plus subscribers will be...

After Yahoo, Microsoft Amps Up Search Effort

Ballmer says company can be more flexible now in Google fight

(Newser) - CEO Steve Ballmer is spinning Microsoft’s failure to acquire Yahoo expertly, telling analysts today that, unburdened by the search giant, the company can be more frisky and adaptable in its fight with nemesis Google, the Wall Street Journal reports. Actions might speak louder than words, though: Microsoft announced yesterday...

Roche Makes Genentech Takeover Bid
Roche Makes Genentech Takeover Bid
Jul 21, 2008 6:55 AM CDT

Roche Makes Genentech Takeover Bid

Swiss pharma bids $43.7B for remaining shares of biotech firm

(Newser) - Swiss pharmaceutical company Roche today offered $43.7 billion for the outstanding shares of Genentech, the San Francisco-based biotech firm in which Roche already owns a 55.9% stake, the Wall Street Journal reports. The $89-a-share offer is the latest in a series of big pharma companies, whose new drug...

Anheuser-Busch: The Deal That Sleeps With the Fishes

If relationship with Modelo hadn't soured on fishing trip, Belgians might have been staved off

(Newser) - Anyone mourning the takeover of Anheuser Busch by Belgium's InBev might want to know that the real turning point in that battle occurred more than a decade ago. On a fishing trip. In Mexico. The last real chance to outmaneuver InBev was lost when the US brewer failed to get...

Booming China Flexing Its M&A Muscle

Chinese companies snap up $42B in foreign assets so far in 2008

(Newser) - Chinese companies are on a buying binge, snapping up $42 billion worth of foreign assets in the first 6 months of 2008. That's a 500% increase over the previous year, and equal to the combined value of takeovers from 2000 to 2006, reports DealBook in the New York Times. And,...

InBev Boosts Bid for Bud, Making Buyout Likely

Deal now tops $50 million, and Anheuser is likely to accept

(Newser) - InBev has increased its bid for Anheuser-Busch to $70 a share, the Wall Street Journal reports. Although willing to replace the Budweiser-brewer’s board in a hostile takeover, the $5-per-share boost—bringing the total deal to $50 billion—is a signal that InBev would prefer to keep things friendly. Anheuser...

Dow Chemical Drops $15.3B on Rohm & Haas

Deal may signal start of consolidation in chemical industry

(Newser) - In what may be the beginning of a long-anticipated consolidation of the chemical industry, Dow Chemical today said it was buying coatings and electronic-materials company Rohm & Haas in a $15.3 billion all-cash deal, reports the Wall Street Journal. Dow is backed by $3 billion from Warren Buffett's Berkshire...

Icahn: Microsoft Will Only Negotiate With Me

Board must be replaced, Ballmer says

(Newser) - Carl Icahn says Microsoft is still in the hunt to acquire Yahoo, but only if the board is replaced, the Wall Street Journal reports. Icahn says Microsoft CEO Steve Ballmer “made it abundantly clear” to him that he wouldn’t talk with Yahoo’s current board, which he fears...

Yahoo Looks to Time Warner, News Corp.

With Microsoft again sniffing around, net giant explores options

(Newser) - Yahoo—back in the sights of Microsoft—is trying to keep its fate in its own hands, launching talks with potential partners, the Wall Street Journal reports. The Internet company reopened talks with Time Warner about a deal that would make AOL part of Yahoo and give Time Warner a...

Angry Worker Blasts Yahoo in Email

Missive blames office politics, lousy execs for sinking company

(Newser) - A sarcastic Yahoo employee slammed the company in an email sent to Fortune today, taking aim at futile executives and lousy decision-making. In the wake of Yahoo's latest shakeup, "things could not be better," the email says: True, past "reorgs" were sparked by pointless executive shifts, but...

Battered Citigroup Plans Major Layoffs

Firm will cut 10% of its investment-banking group

(Newser) - After being in the red for two quarters, Citigroup will this week hand out pink slips in its investment-banking division, looking to sack 10% of the group’s 65,000 employees. The move, which would eliminate entire trading desks worldwide, is unusually severe, the Wall Street Journal says. CEO Vikram...

Budweiser to Buy Corona to Stave Off Stella?

Anheuser-Busch tries to avoid InBev takeover with Modelo talks

(Newser) - Anhueser-Busch has approached Mexian brewer Grupo Modelo about a possible merger, the Wall Street Journal reports, in an attempt to thwart an unwanted $46.35 billion takeover bid from Belgium’s InBev NV. Anhueser already owns 50% of Modelo, which is best known for its Corona brand. By buying the...

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