merger

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Northwest's Merger Offers Won't Fly: Delta

So far, proposals skirting key Delta concerns

(Newser) - An airline merger isn't going to take off until Northwest comes up with a proposal that addresses Delta's concerns, according to Delta executives. So far, offers haven't jelled with Delta priorities, including maintaining employee seniority rankings, according to a Delta memo obtained by the Wall Street Journal. Delta plans to...

Delta-Northwest Pilots Ground Airline Merger

Seniority issue puts merger talks on hold

(Newser) - Northwest and Delta merger talks are stuck on the runway today, as  pilots continue talks on a deal to combine their workforces, AP reports. Representatives for the 12,000 pilots are hung up on issues of seniority, insiders said; directors of the airlines hoping to announce their $20-billion merger plans...

2 Airline Mega Mergers Prepare for Takeoff

Delta-Northwest marriage looms; United eyes Continental

(Newser) - The airline industry is bracing for what would be a mammoth double wedding, as merger talks between Delta and Northwest airlines shift into second gear, and Continental and United Airlines begin their courtship. Currently on the Delta-Northwest plate is a market price stock-for-stock transaction, with no premium for either company,...

Commodities Markets in Merger Talks
Commodities Markets in
Merger Talks
Jan 29, 2008 8:12 AM CST

Commodities Markets in Merger Talks

Chicago Mercantile Exchange targets New York counterpart in $11B bid

(Newser) - Owners of the Chicago and New York commodities exchanges are in preliminary talks that could end in an $11 billion merger of the two largest commodities markets in the US, reports the New York Times. NYMEX Holdings shareholders would receive $36 and 0.1323 of a share of CME's common...

Northwest's Merger Plans Still 'Evolving'

Airline 'very, very actively looking,' but uncertain on when, with whom

(Newser) - Northwest Airlines is "very, very actively looking" for a merger partner, a company executive told Wall Street analysts yesterday, but it is uncertain whether such consolidation is more likely to be approved by the Bush administration or its successor, the Minneapolis Star Tribune reports. Analysts say Delta—known to...

Struggling Sprint Rejects $5B Offer
Struggling Sprint
Rejects $5B Offer
Nov 30, 2007 4:57 AM CST

Struggling Sprint Rejects $5B Offer

Former CEO's Nextel legacy remains divisive

(Newser) - A bid by SK Telecom and Providence Equity to invest $5B in Sprint Nextel and install former Sprint chairman Tim Donahue as the company CEO has met with swift rejection from the Sprint board. The move comes as Sprint, which has seen its stock plumet 36% since June, searches for...

Sprint Nextel: A House Divided
Sprint Nextel:
A House Divided
Nov 25, 2007 1:27 PM CST

Sprint Nextel: A House Divided

Two years into merger, partners remain wary of each other

(Newser) - The $35 billion merger of long-distance carrier Sprint and wireless innovator Nextel sought to create a company capable of competing with the nation’s largest wireless carriers, Verizon and AT&T. Instead, distinct cultures have warred over everything from ad strategies to executive teams, leaving the company with poor morale,...

Sirius, XM Union May Have Listeners Singing the Blues

Deal would lower options, raise prices, Post writer says

(Newser) - For anyone doubting that a merger between Sirius and XM would harm the satellite radio industry by forcing listeners to go through a single provider, the Washington Post’s Marc Fisher has two words: cable TV. Fisher argues that for all of the advantages any union may produce, ultimately it...

US Steel Buys Canadian Rival
US Steel Buys Canadian Rival
Aug 28, 2007 6:02 AM CDT

US Steel Buys Canadian Rival

$1.1B deal for Stelco consolidates market, makes Pittsburgh giant fifth largest

(Newser) - US Steel's agreement to buy Canadian competitor Stelco for $1.1 billion, making it the world's fifth-largest steelmaker, is the company's second major acquisition this year, but not necessarily the last, CEO John Surma said yesterday. In the face of breakneck growth by Indian and Russian steel producers, the Pittsburgh...

Online Brokers Play 'Let's Make a Deal'

E*Trade, Ameritrade renew talks on merger that could jolt industry

(Newser) - Though past merger talks were never consummated, online stockbrokers E*Trade and TD Ameritrade are again in "serious discussions" over a union, the Wall Street Journal reports. A consolidation would create a dominant player in online trading, reducing competition and perhaps ratcheting up costs for consumers. One source estimates the...

New Delta CEO Raises Questions
New Delta CEO Raises Questions
Aug 22, 2007 8:48 AM CDT

New Delta CEO Raises Questions

Appointment revives rumors that merger with Northwest is preparing for takeoff

(Newser) - Delta's choice for its new CEO—an outsider who won the job over two internal candidates—is raising questions, the Journal reports. Newly emerged from 19 months of wrangling in bankruptcy court, the airline appointed former Northwest CEO Richard Anderson yesterday, sparking speculation about a future merger with Northwest and...

Chrysler Plunges Into China Trade
Chrysler Plunges Into China Trade
Jul 4, 2007 12:29 PM CDT

Chrysler Plunges Into China Trade

US auto giant plans to use tiny imports to battle Japanese manufacturers

(Newser) - In a cost-cutting move, Chrysler will introduce cars produced by China's biggest automaker to the US market by late 2009. Chrysler and Chery staged a signing ceremony today in Beijing to allay fears about the American auto giant's new ownership not backing the deal, MarketWatch reports. The first vehicles will...

Murdoch Says $5B Is Final Offer for Dow Jones

Mogul won't raise offer to push stalling Bancroft family

(Newser) - Rupert Murdoch won't raise his $5B bid for Dow Jones, the media mogul said today. Murdoch deflected speculation that he would up the ante to move along negotiations with the openly skeptical Bancroft family, which owns a majority stake in the Journal publisher. Instead, Reuters reports, Murdoch is suggesting he...

Hot LBO Market Takes Hit
Hot LBO Market
Takes Hit
Jun 8, 2007 9:40 AM CDT

Hot LBO Market Takes Hit

As big-time deals struggle to manage debt, beware the Trojan piggy bank

(Newser) - The red-hot market for LBOs may be hitting a long-awaited rough patch. Several big deals—including Apollo's $1.3 billion Linens 'n Things buy and the multigroup $17.6 billion acquisition of Freescale Semiconductor Holdings—have turned sour, with the companies struggling to generate enough cash to pay down debt...

Whole Foods Cannot Sow Wild Oats
Whole Foods Cannot
Sow Wild Oats
Jun 6, 2007 8:30 PM CDT

Whole Foods Cannot Sow Wild Oats

FTC accuses crunchy granola types of monopoly grab

(Newser) - Even crunchy granola types may be monopolists at heart—at least according to the Federal Trade Commission.The FTC said yesterday it wants to block Whole Foods’ $670 million purchase of Wild Oats Markets, claiming that the sale will result in even higher-than-usual prices at the natural foods stores.

Dow Closes Down 80.86 on Inflation Scare

Bernanke comment, retail profit warnings contribute to slump

(Newser) - The Dow fell 80.86 points today, closing at 13,595.46 after companies in the retail sector issued warnings of reduced profits and Fed chairman Ben Bernanke commented that inflation risks are still high. "There are a lot of little things out there that are scaring the market,...

Murdoch Says He's Flexible, Up to a Point

Jousting over editorial independence may derail Dow Jones deal

(Newser) - Rupert Murdoch has renewed his vow to maintain the Wall Street Journal's editorial independence should his bid for Dow Jones succeed, but it's unlikely he'll allow the controlling Bancroft family to run an editorial oversight board. That sticking point could be a deal-breaker, the Journal reported hours before today's scheduled...

What Made the Bancrofts Buckle?
What Made
the Bancrofts Buckle?
Jun 2, 2007 8:21 AM CDT

What Made the Bancrofts Buckle?

Key Dow Jones director switched sides, eyeing Reuters-Thomson merger

(Newser) - In a surprising about-face Dow Jones director and Bancroft family trustee Michael Elefante shifted from the cons to the pros, advocating putting the company in play at a recent family meeting. His change of position was behind the family's decision that it would meet with Rupert Murdoch and consider other...

Wachovia Nabs A.G. Edwards
Wachovia Nabs A.G. Edwards
May 31, 2007 12:58 PM CDT

Wachovia Nabs A.G. Edwards

Deal takes aim at small investors, creates country's No. 2 retail brokerage

(Newser) - Wachovia will buy A.G. Edwards for $6.8 billion, forming the nation's number two retail brokerage. Wachovia's $89.50 per share offer for the historic Midwest brokerage—it survived the crash of '29—helps the bank further expand its growing securities arm. The combined company will manage over $1...

Cantor Cuts Ties to eSpeed, BGC
Cantor Cuts Ties to eSpeed, BGC
May 30, 2007 11:41 AM CDT

Cantor Cuts Ties to eSpeed, BGC

Bond trading firm moves to settle conflict-of-interest complaints of investors

(Newser) - Cantor Fitzgerald, following conflict-of-interest complaints from investors, is planning to distance itself from the brokerage and online trading firms it controls. The deal will create a new company, a merger of eSpeed and BGC Partners. 

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