Centre asks PSBs to hunt for M&As Nov 19, 2009
Centre asks PSBs to hunt for mergers and acquisitions- Banking-Banking/Finance -News By Industry-News-The Economic Times ... Centre asks PSBs to hunt for mergers and acquisitions19 Nov 2009, 0313 hrs IST, Anto Antony, ET Bureau ... NEW DELHI: The government has asked the countrys largest state-run banks to look out for mergers and acquisitions opportunities, saying consolidation is imperative to augment efficiency, and prop up the countrys GDP.. (India Times)
Lazard Chief Kenneth Jacobs Was Constant Amid 21 Years of Changes at Firm Nov 19, 2009
The announcement came a month after Wassersteins death at 61 set off a succession contest at the company, the worlds largest non-bank adviser on mergers and acquisitions ... Jacobs, then the head of mergers and acquisitions, had to help run the year-end compensation process and be the firms representative to the press after Loomis was fired in 2001, according to The Last Tycoons, the 2007 book about Lazard written by ... Jacobs takes over as the worst market for mergers and... (Bloomberg)
No room for immunity Nov 18, 2009
Unlike Barbour's plans for Mississippi's public university system, the state's 15 community colleges are not recommended for mergers. However, they stand to lose 12 percent of their budgets if lawmakers adopt budget recommendations the governor made on Monday. (The Clarion-Ledger)
Griffin Picking `Juggernaut' Edsparr to Run Bank Means Do-Over at Citadel Nov 18, 2009
Citadel said Edsparr has worked with customers at JPMorgan and will be able to draw on the experience of , a 22- year veteran of Merrill Lynch & Co., who runs the Citadel unit that advises companies on reorganizations, mergers and acquisitions. Patrik has a distinguished track record for building businesses and serving clients, said , a Citadel spokeswoman. (Bloomberg)
School rivalries fade in debate Nov 18, 2009
"The mergers would reduce the state's eight public universities to five; they would save $35 million in the 2012 fiscal year, Barbour estimates, with savings increasing over time.Malcolm and Fredna Cockerham think Barbour's plan deserves a hearing."I'm sure I'm in the minority," said Fredna Cockerham, 69, of Terry, who attended MUW from1958-60 and has degrees from the University of Arkansas and the University of Southern Mississippi.(2 of 2)"But it's time we start thinking about our state budget... (The Clarion-Ledger)
* World Business Quick Take Nov 18, 2009
Christine Lagarde said some institutions had become too powerful in the financial sector, which has been consolidated in the wake of the global economic crisis by banking failures and mergers. We need to make sure that we do not create institutions that have a competitive advantage, Lagarde told the Financial Times in an interview. (Taipei Times, Taiwan -- World)
Takeover battle: Shareholders often do not know whats best Nov 18, 2009
Most mergers never live up to their hype, resulting in lower values and fewer jobs. So the question worth asking is: Shouldnt someone be looking further into the future. (India Times)
Time will spin off AOL to shareholders next month Nov 18, 2009
NEW YORK: Media conglomerate Time Warner Inc said on Monday it will spin off its AOL unit to shareholders on Dec 9, nine tumultuous years after one of the most disastrous corporate mergers in history. Time Warner shareholders of record on Nov 27 will receive an AOL stock dividend for every 11 Time Warner common stock they hold. (The Star Online, Malaysia -- Business)
Goldeye Explorations Limited Closes Another Financing With MineralFields Group Nov 18, 2009
First Canadian Securities is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities. (CCNMatthews Press Releases)
House Dems Sharpening "Too Big to Fail" Plan Nov 18, 2009
Others, such as Lehman Brothers, were allowed to go into bankruptcy, while still others were forced into government-engineered mergers. 1. (ABC News -- Business)
L.F. Driscoll merges with Structure Tone Nov 18, 2009
The merger continues a year-long trend of mergers among architectural, engineering and construction firms as the recession has taken a tough toll on the sector. L.F. Driscoll, headed by Jack Donnelly, will continue to operate out of Bala Cynwyd, Pa. (Philadelphia Business Journal, PA)
AMP's Dunn changes tack with AXA Nov 18, 2009
The more general message, underlined consistently by research, is that mergers deliver less than expected: caution on price is always necessary. mmaiden@theage. (Sydney Morning Herald -- Business)
Simon Property Mulls Buying General Growth Mall Assets With Lazard Hiring Nov 18, 2009
Lazard specializes in financial advice and asset management and Wachtell focuses on mergers and acquisitions. General Growth has more than 200 malls in 44 states. (Bloomberg -- US)
Wayzatas interest in Neenah, Grede and Elyria could presage foundry sector tie-up Nov 18, 2009
Should the three-pronged investment strategy culminate in Wayzata acquiring Grede and then equitizing its Neenah and Elyria holdings, the stage could be set for a series of stock mergers or JV deals that combine the assets, the sources added. Such a collective could benefit from selling, general and administrative expenses, production cost savings as well as an expanded geographic reach, said the sources. (FT.com -- Markets)
HP Snaps Up 3Com, Tech Mergers Heat Up Nov 17, 2009
Worldwide tech mergers and acquisitions have totaled $109. 1 billion this year, down 20 percent from year-to-date 2008, according to Thomson Reuters data. (Datamation)
Time Warner Sets Dec. 9 As AOL Spin Date Nov 17, 2009
Although it was touted as a , the union is largely believed to be one of the worst mergers in American corporate history. According to a press release, Time Warner said the new AOL shares will begin trading on the New York Stock Exchange on Nov. 24 on a "when-issued" basis under the symbol "AOL WI." The stock will begin trading on a regular basis on Dec. 10 under the symbol "AOL.". (Multichannel News)
School districts may be on chopping block Nov 17, 2009
Barbour acknowledged that there would be virtually no savings the first year at least," said Nancy Loome, executive director of The Parents' Campaign.State Rep. Cecil Brown, D-Jackson, also expressed concerns. "You've got to look at what the impact on the schools is going to be," he said.(2 of 2)In addition to school mergers, Barbour has recommended closing 10 mental-health facilities. Department of Mental Health Executive Director Ed LeGrand said in an e-mail that his agency has begun making... (The Clarion-Ledger)
* Spanish central bank chief eyeing multiple mergers Nov 17, 2009
Spanish central bank chief eyeing multiple mergers ... Bank of Spain Governor Miguel Fernandez Ordonez said a series of mergers were under discussion among regional savings and loans institutions, with the plans to be implemented within months ... We now have many, many mergers that we are discussing, he said. (Taipei Times, Taiwan -- World)
New plan for local nonprofits Nov 17, 2009
The point is not to create a series of isolated mergers, says Laura Meyer, executive vice president of ... Brian Collier, senior vice president for community philanthropy at Foundation For The Carolinas, says the new fund aims to make investments to help nonprofits become more effective and efficient through collaboration, coalitions and mergers, and to promote innovation. (Charlotte Business Journal, NC)
Barbour: Economy demands mergers Nov 17, 2009
But some lawmakers, alumni and students say the mergers won't happen without a fight ... Barbour said that even with mergers, the Mississippi Valley State, Alcorn State and MUW campuses would continue to be used and would still serve students in those areas ... "I believe mergers are preferable to closures," he said. (The Clarion-Ledger)
Jordan: Reed Smith to require nonequity partners to invest in firm Nov 17, 2009
Most of those offices were gained via mergers. Because we run a global partnership in, we want those nonequity partners on both sides of the Atlantic to have common attributes, Jordan said. (Pittsburgh Business Times, PA)
No hearings on Exempla deal Nov 17, 2009
That s despite a new state law that requires the attorney general to hold hearings on whether hospital mergers are in the community s best interest ... The bill, which required the AG to hold public hearings on hospital mergers, was signed by Gov. Bill Ritter. (Denver Business Journal, CO)
Expert: China acquisitions face new challenges, opportunities Nov 17, 2009
CHICAGO, Nov. 16 (Xinhua) -- China's robust economic growth has fueled a number of mergers and acquisitions that, however, are facing new challenges and opportunities during the ongoing economic downturn, a legal expert in said Monday ... Zhang now counsels U.S. companies on mergers, acquisitions, joint ventures and other business transactions in China, as well as assisting Chinese companies with investment and acquisitions overseas. (Xinhuanet, China)
Stock index futures signal dip after rally Nov 17, 2009
Media conglomerate Time Warner Inc (TWX.N) said on Monday it will spin off its AOL unit to shareholders on December 9, nine tumultuous years after one of the most disastrous corporate mergers in history. Qualcomm (QCOM.O), the world's biggest chip maker, said on Tuesday that it expects to sell its TD-SCDMA chips in China within the next year. (Yahoo News -- Press Releases)
Hambro tips continued commodities growth Nov 16, 2009
The manager of two of the world's largest commodities funds expects continued growth in the sector in 2010, with rising numbers of company mergers. Evy Hambro, a London-based portfolio manager who manages the BlackRock World Mining Fund and the Gold & General Fund, on Monday gave journalists in Australia an upbeat assessment of the sector following last year's collapse in prices. (Sydney Morning Herald -- Business)
Drury Hotels Focus on Quality Guest Services & Customer Satisfaction in Tight Economy Nov 16, 2009
"If it's happening in St. Louis, it's on St. Louis Hotels Guide P.O. Box 1354 St. Louis, MO 63188 Office: 314-771-0200 Fax: 314-771-0300 To submit hotel news or to inquire about a listing, please contact: "With Drury Hotels, it's always been about being competitive with our rates and offering great value in the market," stated Christy Mossman, regional sales manager for Drury Hotels, seen in the beautifully appointed Ballroom meeting room. Drury Hotels Plaza in Chesterfield has maintained... (Saint Louis Front Page)
Biotech sector fundamentals expected to remain favourable Nov 16, 2009
PETALING JAYA : Many of the biotechnology industry s fundamentals, such as the number of products in clinical trials, new product approvals, profitable biotech companies and industry mergers & acquisitions, are expected to remain favourable, according to Malaysian Biotechnology Corp Bhd (BiotechCorp). It said in a statement, to date, total revenue generated by BioNexus companies amount to RM546. (The Star Online, Malaysia -- Business)
Australian Geothermal Energy Developers May Merge Because of Funding Needs Nov 16, 2009
Geothermal developers may initially seek mergers or joint ventures, he said. Oil and gas companies and utilities seeking to reduce carbon emissions may later increase their investments or make acquisitions as risk declines in the industry, he said. (Bloomberg -- Australia & New Zealand)
Busin00004000ess Nov 16, 2009
The manager of two of the world's largest commodities funds expects continued growth in the sector in 2010, with rising numbers of company mergers. ASX 200. (Sydney Morning Herald -- Business)
Aussie businesses gear up for recovery Nov 16, 2009
There was a consensus that mergers and acquisitions (M&E) activity would grow over the next 12 months, with 94 per cent of CFOs expecting growth. AAP. (Sydney Morning Herald -- Business)
MUW alumni vow merger fight Nov 16, 2009
George Flaggs, who recently revived the discussion of consolidating Mississippi's public-funded universities, said legislators should know today if mergers are necessary when Gov. Haley Barbour releases his budget ... Bridget Smith Pieschel, a 1979 graduate and director of the MUW Center for Women's Research and Public Policy, said the university faced closures or mergers in 1898, 1922, 1932, 1954, 1986 and 1994. (The Clarion-Ledger)
Policy doom as takeover boom looms Nov 16, 2009
FIRB's lack of transparency on how it makes decisions, its lack of consistency on who wins approval and why and the Federal Government's confusing foreign investment policy turns the mergers and acquisitions game into a crapshoot. Besides making a laughing stock of the country's international standing as a free-market economy, it has the equally insidious impact of forcing shareholders to trade in a vacuum. (Sydney Morning Herald -- Business)
A healthy balance Nov 15, 2009
No interest in mergers. It s not uncommon for an institution like Sky Lakes to merge with another mid-sized regional hospital, like Rogue Valley Medical Center. (Klamath Falls Herald & News, OR)
Will the British Airways and Iberia Merger Lift Off? Nov 15, 2009
The history of airline mergers, though, might suggest otherwise. Success stories Air France and KLM in Europe; Delta and Northwest in the U.S. are rare. (Time.com)
Quiznos, Koos News and a motel makeover Nov 14, 2009
I m looking for promotions, new hires, relocations, openings, closings, expansions, mergers, acquistions, down-sizings. You get the idea. (Coos Bay-North Bend The World, OR)
Brookline resident named leader for mergers, acquisitions at Nixon Peabody Nov 14, 2009
Brookline resident David A. Martland has been named leader of Nixon Peabody LLP s mergers and acquisitions and private company transactions practices that includes approximately 70 attorneys firm wide. Martland succeeds the practice s previous leader, Philip Taub, who was recently named chairman of the firm s business and finance department. (Brookline TAB, MA)
Best Corporate Counsel honorees announced Nov 14, 2009
Whether they re braving the rough legal waters that come with a recessionary environment or guiding their companies through the terrains of mergers and acquisitions, the 2009 Dallas Business Journal Best Corporate Counsel honorees make up an accomplished group nominated for legal savvy and individual drives to succeed. The Dallas Business Journal announced the winners and finalists Thursday night in Dallas. (Dallas Business Journal, TX)
Liberty Global Will Buy German Cable Company Unitymedia for $2.98 Billion Nov 14, 2009
More CEOs are thinking of mergers and acquisitions than a year ago. . (Bloomberg -- Germany)
Pound Advances as British Airways Merger Spurs Optimism Economy Improving Nov 14, 2009
The BA agreement puts the idea of mergers back on the agenda, said , a London-based analyst at Calyon, the investment-banking arm of Credit Agricole SA. This is coming to the forefront of currency traders imaginations. As the economy improves these deals will start coming to the table more and more. (Bloomberg -- UK)
Childcare centres and science suffer in uni cost cutting Nov 13, 2009
HEATH GILMORE HIGHER EDUCATION. Fay Hudson and Sophie and Max with George and Josephine Argyrous outside Kanga's house. (Sydney Morning Herald -- Australia)
> Innovative Company of the Year: Altres Nov 13, 2009
said Harry Feinberg, chairman and CEO of SourceQuest LLC, a New Jersey-based mergers and acquisitions advisory firm, and founder of Outsourcing Today. Altres ; has extreme integrity, a company that stands by its clients and consistently delivers powerful programs and solutions necessary to achieve the highest level of HR support for its clients. (Pacific Business News, HI)
High-tech firms in high demand in Bay State Nov 13, 2009
They all are, according to Richard deNey, head of mergers and acquisitions at Needham & Co. in New York. Technology, as a sector in the economy, is consolidating, deNey said. (Boston Globe)
Tug-of-war overPearl River Delta Nov 13, 2009
The plan envisions that 10 years from now, the PRD will be assembled into three main urban nodes, developed through mergers. Shenzhen and Dongguan will be a center on the east bank of the Pearl River; the Zhuhai Economic Special Zone will serve as the center for the urban areas on the west bank of the Pearl River; and finally, Guangzhou and Foshan will be merged into a larger city. (Asia Times Online)
E&O rights issue oversubscribed, raises RM236mil Nov 13, 2009
It will also be used for possible strategic mergers and acquisitions; and/or for repayment of bank borrowings. E. (The Star Online, Malaysia -- Business)
How to prepare for a secure network hardware upgrade Nov 13, 2009
Corporate Mergers and Acquisitions Security Learning Guide. are common in today's information security market. (Search Security, MA)
American Mortgage Services buys DeSoto Home Mortgage Nov 13, 2009
Monte Connell, president of Atoka-based AMS, attributes the growth to emerging opportunities caused by increased regulations that are forcing smaller mortgage lending independents to consider mergers with similar competitors, banks and other financial institutions. Three years ago I could see a lot of this coming, Connell says. (Memphis Business Journal, TN)
JP Morgan's $80m bill spills into court Nov 12, 2009
Publicly listed mining companies, with big share free-floats, rarely challenge bank advisory fees for initial public offerings, mergers and takeover defenses. An obvious reason is that borrowers are loath to bite the hand that feeds them. (Asia Times Online)
3Com to be sold to HP for $2.7b Nov 12, 2009
Tech giants are using mergers and alliances to quickly offer one-stop shopping to companies looking to save money by buying all their network products from a single vendor, instead of assembling corporate data centers one piece at a time. It improves the efficiency, it improves the speed of deployment, and it drives costs down, said Abner Germanow, a networking analyst at IDC Corp. in Framingham. (Boston Globe)
IESI-BFC Buys Waste Services to Form No. 3 North American Solid-Waste Firm Nov 12, 2009
In a recessionary environment, some haulers have become financially strapped and are looking to increase efficiencies through mergers, , an equity analyst at Standard & Poors, said today in a telephone interview. Construction roll-off and industrial project roll-off has been hit. (Bloomberg -- Canada)
* Investors upbeat on chips after TSMCs US court win Nov 12, 2009
JPMorgan also viewed the possible venture as TSMCs first move to realize mergers in the growing Chinese market. However, variables remain, as the government does not permit Taiwanese semiconductor firms to acquire stakes in Chinese firms X a policy designed to maintain Taiwans competitive edge. (Taipei Times, Taiwan -- World)
Waking the sleeping giant Nov 12, 2009
There are clearly far too many sub-scale super funds and we need a series of major mergers, not unlike what Bill Kelty did to the union movement during the Hawke-Keating years ... We may yet see a push for super-fund mergers coming out of the sweeping super review being conducted by Jeremy Cooper, the former deputy chairman of the Australian Securities and Investments Commission. (Sydney Morning Herald -- Business)
Full Story » Nov 11, 2009
"Mergers like this occur regularly and have not been prohibited by United States or European regulators in decades.". The U.S. Department of Justice, which cleared the acquisition in August, reiterated Monday that it stands by its earlier assessment that the combination of the two companies is "unlikely to be anticompetitive," primarily because there are a variety of competitors. (Yahoo News -- Technology)
Salvation Army Creates New National Advisory Board Nov 11, 2009
Newly Formed Group of Business and Civic Leaders to Advise Nation's Largest Non-Governmental Direct Provider of Social Services. We look forward to working with the National Advisory board in developing strategies that will sustain and expand the Army's service throughout the nation. (Canada Newswire)
Chinese automaker aims to compete globally Nov 11, 2009
Beijing is attempting to orchestrate mergers among China's dozens of small automakers to create big, efficient producers ... Despite Beijing's desire for consolidation, the process is moving slowly because mergers require companies and local leaders to cooperate, said Yale Zhang, an analyst for CSM Worldwide in Shanghai ... "There will be more and more mergers, for sure," he said. (MSNBC -- Business)
AXA hunts Asian truffle Nov 11, 2009
More recently de Castries, from a elite French military family, described his approach to mergers and acquisitions as a bit like hunting for truffles. You keep looking for them but don't find them under every tree," he said in September. But now he is busy clearing up AXA Group's messy joint holdings.In Paris this week, AXA Group launched a 2 billion ($A3.2 billion) rights issue as part of what it called an "aggressive" strategy to fund acquisitions. As well as AXA Asia Pacific, which will... (Sydney Morning Herald -- Business)
Computershare readies to snap up competitors Nov 11, 2009
Computershares operations in the three markets are more dependent on mergers and acquisitions and initial public offers, which tapered off in 2008/09 preventing the business units from repeating their strong 2007/08 performances. AAP. (Sydney Morning Herald -- Business)
With more in need, and fewer able to give, United Way fights on Nov 11, 2009
Mergers between neighboring United Way organizations are happening all across the country due to the economy. The writing was on the wall that this was the best alternative, Stephens said. (Ellensburg Daily Record, WA)
Business.view: Battle of the trustbusters Nov 11, 2009
The striking similarities between the two proposed mergers extend beyond the nationalities involved. In each case an industry leader was seeking to acquire a firm in a weak competitive position, fighting for survival. (The Economist)
Ekuinas to unveil RM100m projects Nov 10, 2009
Abdul Rahman said Ekuinas could invest in GLCs, private limited companies and multinationals via management buyouts, mergers or acquisitions, or by taking over non-core assets of a company and injecting or hiring professionals to manage it. Alternatively, we could support or invest in bumiputra companies that have a good business model and growth potential. (The Star Online, Malaysia -- Business)
Wall Street US stocks hit 13-month high as risk drives rally Nov 10, 2009
Corporate mergers and acquisitions also helped the market, with General Electric Co up 3. 4 per cent at $US15. (Sydney Morning Herald -- Business)
Stocks Jump as G20 Pledges Liquidity Nov 10, 2009
Corporate mergers and acquisitions also helped the market, with General Electric Co (GE.N) gaining 3. 7 percent to $15. (Newsmax)
Low-cost airlines gain ground against full-price rivals Nov 10, 2009
"The biggest thing that has happened in this industry over the past decade isn't 9/11, or recession, or SARS, or bankruptcies or mergers," says aviation economist Dan Kasper at LECG, a consulting firm in Cambridge, Mass ... It remains open to future mergers. (USA Today -- Money)
Australian firms weather global credit squeeze: RBA Nov 10, 2009
Foreign banks in Australia had cut their lending somewhat but continued to be active in funding mergers and acquisitions. "While there are a few instances of foreign banks scaling back their operations in Australia, there is little evidence of any generalised withdrawal of foreign banks from the market," said Broadbent. (Sydney Morning Herald -- Business)
Funding the force Nov 10, 2009
Page last updated at 06:13 GMT, Tuesday, 10 November 2009. The thin blue line's cash crisis. (BBC News -- UK)
Black & Decker real estate chief says HQ cuts will force consolidation Nov 10, 2009
As in many mergers, the new company eventually could decide it doesn t need to be in Towson and could decide to shed its Baltimore County operations. This article is for Paid Subscribers ONLY.. (Baltimore Business Journal, MD)
