mergers and acquisitions

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Top China Bank Buys Record $5.6B Stake in African Lender

Beijing moves to invest in developing nations

(Newser) - Prodded by Beijing to invest in developing countries, China's massive state-owned bank has inked a deal to buy 20% of South Africa's Standard Bank for $5.6 billion, marking the largest Chinese investment ever in Africa. ICBC, flush with cash, is eager to provide financial services to Chinese companies increasingly...

BEA Says It&rsquo;s Worth $8.2B
BEA Says It’s Worth $8.2B
Oct 25, 2007 3:07 PM CDT

BEA Says It’s Worth $8.2B

Back-and-forth with Oracle continues; latter originally offered $6.7B for buyout

(Newser) - The board of BEA Systems responded to a time-sensitive takeover offer from Oracle today, valuing itself at $8.2 billion—fully $1.5 billion more than the database giant's bid. Oracle’s $17-a-share offer, now two weeks old, will expire on Sunday evening if BEA doesn’t act on it....

Antsy Oracle Sets BEA Takeover Deadline

Software giant demands action on offer

(Newser) - Software giant Oracle is growing impatient as it attempts to take over BEA Systems, a smaller and fiercely independent tech organization. Oracle offered on Oct. 9 to buy BEA for $6.7 billion, or $17 a share, which BEA considers too low. But the company hasn't  formally rejected the offer,...

Court Overturns Volkswagen Law, Takeover Likely

Porsche to exercise control in VW

(Newser) - The EU’s highest court today overturned a 47-year-old German law that protected Volkswagen AG from takeover, opening the door for a long-rumored Porsche coup. Porsche already owns 31% of VW, but the law capped their voting rights at 20%. With that impediment gone, “I see Porsche flexing its...

Bear Stearns, China's Citic Trade $1B Stakes

Partnership will develop products, services for Chinese and Asian markets

(Newser) - In a welcome boost after this year's devastating subprime losses, Bear Stearns today moved to secure a long-coveted slice of the Chinese market. Stearns and China’s Citic Securities Co. agreed  to invest $1 billion in each other, pooling their Asian resources to develop new products for the Chinese market,...

Ex-Sallie Mae Suitor Tries to Dodge Breakup Fee in Court

Investor group doesn't want to cough up $900M

(Newser) - The group that offered to buy out educational lender Sallie Mae for $25 billion is now seeking court approval to back out and avoid paying a $900 million break-up fee. The investor group, including Bank of America and JPMorgan Chase, is arguing that recent legislation will reduce the student loan...

World's Biggest Bank Deal Ends in Breakup

For $101B, RBS-led consortium wins Dutch giant ABN Amro

(Newser) - After months of counteroffers, court cases and credit crises, the battle to buy Dutch banking giant ABN Amro concludes today, with a break-up of the bank. The Wall Street Journal reports that a three-bank consortium led by the Royal Bank of Scotland will almost certainly win ABN Amro shareholders' approval...

Bancrofts Mull Murdoch Buyout
Bancrofts Mull Murdoch Buyout
Jul 24, 2007 6:20 AM CDT

Bancrofts Mull Murdoch Buyout

Final decision on offer expected by end of week

(Newser) - The Bancroft family met yesterday in Boston to consider Rupert Murdoch's $5B offer for Dow Jones, but is expected to take at least until Friday to vote on the deal, Reuters reports. Christopher Bancroft, who opposes the sale, showed up sporting a baseball cap with the words "Bite me"...

XM, Sirius Say Post-Merger Prices Will Fall

Satellite-radio giants bid to overcome resistance with new subscription plans

(Newser) - In an attempt to lower resistance to their proposed merger, satellite radio providers Sirius and XM unveiled new pricing plans today that they say will cut subscription prices by 46%. The plans, which start at $6.99 as opposed to the current $12.95 per month standard price, also allow...

Whole Foods CEO Sorry for Web Subterfuge

Online shenanigans draw board scrutiny along with SEC probe

(Newser) - The CEO of Whole Foods apologized yesterday for boosting his company and posting snide comments about a rival supermarket chain in Internet forums and said he "had fun doing it." John Mackey's actions over the last 8 years have already triggered an SEC investigation, and the company's board...

British Firm Bags Samsonite for $1.7B

Private equity group gets in on American buyout frenzy

(Newser) - CVC Capital, a British private equity firm, has bought out Samsonite, the American luggage line, in an all-cash deal worth $1.7B, BBC reports. CVC will pay $1.49 a share--12% more than the stock was worth Tuesday. Samonsite has had five owners in the last 21 years, as luggage...

Coca-Cola May Bid to Swallow Up Snapple

Soft drink titan looking to juice up its portfolio

(Newser) - Coca-Cola is talking to private-equity firms about purchasing Cadbury Schweppes PLC's Snapple and Mott's brands, the Wall Street Journal reports. Coke is trying to expand its presence in the fast-growing market for noncarbonated drinks--namely juices, waters and ready-to-drink teas, like Snapple. Mott's includes apple juice and sauces, as well as...

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