mergers and acquisitions

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Microsoft, Yahoo End Talks, Rule Out Merger

Weekend meeting torpedoes hopes of a merger

(Newser) - Looks like a Microsoft-Yahoo marriage is off—for good this time, the Wall Street Journal reports. In a meeting last weekend, Microsoft representatives stated “unequivocally” that the software giant was not interested in purchasing all of Yahoo for any price. Yahoo then ruled out an alternative of selling Microsoft...

Icahn: Yahoo Poison Pill 'Reprehensible'

But pricey severance plan kicks in if Icahn wins proxy fight, Yahoo says

(Newser) - Billionaire investor Carl Icahn yesterday called Yahoo’s poison-pill severance plan, designed to deter hostile takeovers, “reprehensible,” the Wall Street Journal reports, but Yahoo said the measure would kick in if Icahn wins control of the board. "Now they found a way to entrench themselves forever,"...

Belgium's InBev Mulls Budweiser Takeover

Stella maker could make unsolicited bid

(Newser) - Belgian-based brewer InBev NV is considering an unsolicited takeover of Anheuser-Busch, the Wall Street Journal reports. The Busch family is loathe to sell the 150-year-old American icon and brewer of Budweiser—Executive August A. Busch IV vowed it wouldn’t happen “on my watch”—but activist investors have...

Why Yahoo Should Sell&mdash; Before Microsoft Wakes Up
Why Yahoo Should Sell— Before Microsoft Wakes Up
analysis
May 20, 2008 10:08 AM CDT

Why Yahoo Should Sell— Before Microsoft Wakes Up

Forget cash flow; think sale price

(Newser) - Yahoo needs to sell to Microsoft, or it’ll wind up a cautionary tale, writes Dennis Berman in the Wall Street Journal. Yahoo currently trades at 48 times earnings—for comparison, GE trades at 15 times earnings, and Google at 33, even though both are growing faster than Yahoo’s...

Yahoo Says Icahn Doesn't Understand Full Picture

Billionaire investor launches bid to oust board

(Newser) - Hours after Carl Icahn began his quest to take over Yahoo’s board, the company issued a statement saying he has a "significant misunderstanding" of the recent Microsoft purchase offer, the Wall Street Journal reports. Icahn wants to unseat the current Yahoo board, replace it with one of his...

CBS Shells Out $1.8B to Buy CNET
CBS Shells Out $1.8B
to Buy CNET
May 15, 2008 8:33 AM CDT

CBS Shells Out $1.8B to Buy CNET

Network gives shareholders huge premium

(Newser) - CBS has agreed to buy CNET for $1.8 billion, the Wall Street Journal reports. The merger comes just as CNET was facing a full-scale shareholder revolt. Now, those investors are getting $11.50 a share, a price the stock hasn’t touched in two years and a 45% premium...

Italian Firm to Buy DRS Technologies
Italian Firm to Buy DRS Technologies
May 12, 2008 10:30 PM CDT

Italian Firm to Buy DRS Technologies

$5.3B sale gives Finmeccanica entry into US defense market

(Newser) - Italy's biggest defense contractor has agreed to buy DRS Technologies Inc. for $5.3 billion and grab a share of America's defense market, the Wall Street Journal reports. Finmeccanica will purchase the defense-electronics firm for $81 per share, a 32% premium on share price, pending approval by Washington. The deal...

HP, Looking for Edge, Close to Buying EDS for $12-13B

Computing giant seeks to expand services division, gain advantage over IBM

(Newser) - Hewlett-Packard is near a deal to buy Electronic Data Systems for $12-13 billion, the Wall Street Journal reports, an acquisition that would make it more competitive in the services sector with rival IBM. Confirmation was expected soon (HP admitted “advanced discussions” were underway), even as the tech consulting and...

Sprint in Talks to Sell Struggling Nextel Unit

Wireless carrier reportedly ready to give up on troubled acquisition

(Newser) - Sprint is considering selling or spinning off its Nextel division, signaling the end of a troubled, disappointing merger, the Wall Street Journal reports. Talks are already under way with Nextel founder Morgan O'Brien, who would integrate the unit into his new wireless public-safety network, and other prospective buyers, including private-equity...

Yahoo Still Open to Offers: Yang
Yahoo Still Open to Offers: Yang
May 6, 2008 6:28 AM CDT

Yahoo Still Open to Offers: Yang

CEO, facing shareholder backlash, says Microsoft 'wouldn't negotiate'

(Newser) - Though Microsoft's courtship of Yahoo came to an unhappy end, Yahoo is still open to suitors, even Microsoft—at the right price, insists CEO Jerry Yang. Yahoo is in talks with other companies about ways to boost its value, and while Yahoo isn't in a rush to sell, executives are...

Yahoo, Microsoft Back Where They Started: Behind Google

Both companies scramble for options

(Newser) - The Microsoft/Yahoo deal looks dead, and at least one company is celebrating: Google. Both companies are exploring other deals, but none will be as potent as MicroHoo might have been, BusinessWeek reports. That’s good news for a certain search giant. “Its two main competitors are separate and floundering,...

T-Mobile Parent Mulling Bid for Sprint Nextel

Deutsche Telekom continues looking outside Germany for growth

(Newser) - T-Mobile parent Deutsche Telekom may bid for troubled Sprint-Nextel, a deal that would move the German telecom to the top of the US mobile communications heap, ahead of AT&T and Verizon, reports the Wall Street Journal. DT increasingly has looked to global options to help fuel earnings hurt by...

Microsoft Boosts Offer, Launches Talks With Yahoo

Increase of 'several dollars' seen

(Newser) - Microsoft and Yahoo are holding active merger talks, with Microsoft willing to increase its offer “by several dollars,” sources tell the New York Times. The negotiations come as a major breakthrough after months of stalemate; Yahoo shareholders have been fielding calls from both sides seeking to arrive at...

Arby's Purchase of Wendy's 'Sad Day' for Thomas Family

Columbus despairs as layoffs loom

(Newser) - After years of haggling, Arby’s owner Nelson Peltz reached a deal to acquire Wendy’s yesterday, ending the involvement of the Thomas family that founded it. Wendy Thomas herself called the sale a “huge, huge disappointment,” the Columbus Dispatch reports. The family had hoped local franchisee J....

Air France-KLM Pulls Offer for Alitalia

Berlusconi scrambles as bankruptcy looms for Italian carrier

(Newser) - Air France-KLM has withdrawn its offer to buy Alitalia, leaving the cash-poor Italian carrier with few options. In a tersely worded statement, the world's largest airline said its Alitalia overture—which had been opposed by Alitalia's unions—was "no longer valid." With no suitors forthcoming and cash reserves...

Cisco Develops a Lighter Touch in Acquisitions

Tech giant develops new strategy for new era in takeovers

(Newser) - Cisco, once famous for swallowing small companies whole and digesting them without leaving a trace of their former brand names (or management), is forging a new acquisition strategy. As it targets new, Internet-based technologies that it’s less familiar with, the company has developed a lighter touch, as evidenced by...

Yahoo Merger Could Level Online Ad Market

But Google team-up would shrink advertisers' options

(Newser) - Winds of a Yahoo-Microsoft merger have sparked a “nuclear war” in the online-advertising world—and the Google-dominated market could soon see major changes, the Wall Street Journal reports. “Nothing short of a new world order in this space is up for grabs,” says an expert. As Yahoo...

Yahoo Board Meets as Buyout Options Grow

Microsoft likeliest buyer but battle heats up

(Newser) - Yahoo's board meets today to examine the options for avoiding a hostile takeover by Microsoft, the Wall Street Journal reports. Experts think a Microsoft grab is still the most likely scenario, but the situation has grown increasingly complicated in the midst of discussions of an AOL-Yahoo merger, Yahoo's proposed trial...

Discover Gobbles Up Diners Club
Discover Gobbles Up Diners Club
Apr 8, 2008 3:10 AM CDT

Discover Gobbles Up Diners Club

Firm moves into international credit card market with $165M deal

(Newser) - Discover Financial Services is moving into the global credit card market with its acquisition of Diners Club International from Citigroup, Bloomberg reports. The $165 million deal gives Discover a foothold in the 185 countries outside North America where Diners has a presence, which will add revenue at a time when...

Microsoft Threatens Hostile Takeover of Yahoo

Corporation promises proxy battle, threatens lower buyout price

(Newser) - Yahoo has 3 weeks to accept Microsoft’s takeover before things get hostile, Microsoft warned in a letter to Yahoo execs today. “The substantial premium reflected in our initial proposal anticipated a friendly transaction,” wrote Microsoft CEO Steve Ballmer, who promised a proxy director battle and implied a...

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