mergers and acquisitions

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IBM Trying to Buy Sun Micro
 IBM Trying to Buy Sun Micro 
Mar 18, 2009 7:09 AM CDT

IBM Trying to Buy Sun Micro

(Newser) - IBM is in talks to buy Sun Microsystems, sources tell the Wall Street Journal, in a deal that could be completed as early as this week. IBM would likely dole out at least $6.5 billion for Sun, a premium of more than 100% on yesterday’s closing price. Sun...

Roche Gets Genentech in $46.8B Biotech Deal

(Newser) - Swiss drug giant Roche has succeeded in its quest to own biotech firm Genentech outright, and will purchase the 44% of shares it does not already own for $95 each, the San Francisco Chronicle reports today. The $46.8 billion deal comes after months of haggling, wherein Roche offered as...

Merck to Buy Schering-Plough in Latest Pharma Merger

Drug giant's purchase comes weeks after Pfizer-Wyeth merger

(Newser) - Merck announced today that it will merge with fellow drugmaker Schering-Plough in a $41.1 billion cash-and-stock deal to enlarge its pipeline of new drugs in development, reports the Wall Street Journal. The two companies have already collaborated on cholesterol drug Zetia—whose sales plummeted after a study questioned its...

Trader's $400M Loss Behind Merrill's London 'Irregularity'

(Newser) - A rogue Merrill Lynch trader appears to have posted some $400 million in undisclosed losses in recent months, the Financial Times reports, covering his tracks with the “irregularity” the firm’s London branch is currently investigating. Alexis Stenfors, now suspended, reported $120 million in gains in 2008’s fourth...

Liberty Media Nears Sirius Rescue Deal

Company to get stake in Sirius in return for fending off Echostar

(Newser) - Sirius XM may have found its white knight just in time, the Financial Times reports. The deadline for the satellite radio firm to restructure its debt or file for bankruptcy protection is today, and Liberty Media is believed to be readying a last-minute rescue deal that would give it a...

Japan's Square Enix to Buy 'Tomb Raider' Maker

'Final Fantasy' firm pays dearly for Lara Croft

(Newser) - Looks like Lara Croft has a new sugar daddy: Japan’s Square Enix will buy Eidos, maker of the “Tomb Raider” videogame franchise, for $119.9 million, Forbes reports. That's more than double the per-share price at yesterday's market close. With Square willing to pay such a premium, it...

Recession Hits Law Firms
 Recession Hits Law Firms 
Jan 26, 2009 2:18 PM CST

Recession Hits Law Firms

(Newser) - Law firms, once thought to be better able than most to weather sour economies, are finding themselves in a tough spot these days, the Wall Street Journal reports. While bankruptcy practices are holding steady, business in litigation has fallen off steeply as corporate clients settle instead of writing checks to...

Pfizer Snaps Up Wyeth for $68B
 Pfizer Snaps Up Wyeth for $68B 
Jan 26, 2009 6:11 AM CST

Pfizer Snaps Up Wyeth for $68B

Merger would be largest pharma deal since GlaxoWellcome-SmithKline 2000 merger

(Newser) - The world’s largest drugmaker, Pfizer, is poised to become even more gargantuan after it agreed early this morning to buy rival Wyeth for $68 billion, reports the Wall Street Journal. In the first major merger to hit Wall Street in months, Pfizer will borrow $22.5 billion from four...

Thain Debacle Stings BofA Chief
Thain Debacle Stings
BofA Chief
ANALYSIS
Jan 23, 2009 5:25 PM CST

Thain Debacle Stings BofA Chief

(Newser) - John Thain may have lost his job running Merrill Lynch, but woe to the CEO who dared merge with him, the Economist reports. Thain no doubt trashed his reputation by failing to tell BofA chief Ken Lewis about looming losses—and handing out multimillion-dollar bonuses in the meantime—but Lewis,...

Pfizer in Talks to Buy Wyeth
 Pfizer in Talks to Buy Wyeth  




Jan 23, 2009 5:49 AM CST

Pfizer in Talks to Buy Wyeth

Sources say drug maker plans $60B acquisition of rival Wyeth

(Newser) - Pfizer is seeking to create a Big Pharma behemoth with the acquisition of rival Wyeth, insiders tell the Wall Street Journal. The deal, expected to be worth around $60 billion, would make Pfizer—already the world's biggest drug company—big enough to redraw the map of the industry, although sources...

Fat Cat Exxon Primed to Deal
 Fat Cat Exxon Primed to Deal 
Jan 12, 2009 10:22 AM CST

Fat Cat Exxon Primed to Deal

Behemoth stood still when oil hit record highs, now has $40B for buying spree

(Newser) - Flush with cash after resisting costly acquisitions while oil prices hit record highs, Exxon Mobil could be ready for a shopping spree that could alter the face of the world’s energy supply, reports the Wall Street Journal. The company has nearly $37 billion in reserves and could target another...

Morgan Stanley Near $3B Deal for Smith Barney

The joint venture would create the world's largest retail brokerage

(Newser) - Morgan Stanley is close to a deal giving it control of Citgroup’s Smith Barney business and creating the world’s largest retail brokerage, reports Reuters. The joint venture would give Morgan 51% of Smith Barney for up to $3 billion. In addition to the cash, Citi would benefit from...

Goldman Loses Top Spot in M&A Rankings

JP Morgan uses financing advantage to end 7-year reign

(Newser) - Ascendant JP Morgan Chase has knocked Goldman Sachs out of first place in the race for mergers and acquisitions, the Wall Street Journal reports. Dealogic, a merger data provider, says Goldman advised some 295 deals totaling $755.6 billion last year, as compared to JP Morgan’s 350 deals for...

Financial PR Firms Walk a Thin Line
Financial PR Firms
Walk a Thin Line
analysis
Dec 22, 2008 6:24 PM CST

Financial PR Firms Walk a Thin Line

(Newser) - An insider trading case has exposed the potentially problematic relationship between PR companies and corporate clients, and it could have dire consequences for at least one firm, Reuters reports. A Lehman Brothers employee is charged with leaking merger information he got from his wife, a partner at the Brunswick Group...

British Air, Qantas Merger Talks Crash

$6 billion deal won't fly after airlines disagree on key issues

(Newser) - A $6 billion merger between British Airways and Qantas Airways that would have created a global carrier failed to fly after the two sides couldn’t agree on who would control the business, reports Bloomberg. The decision frees BA to pursue talks with Spain’s Iberia. Qantas is likely to...

Crisis-Stricken LA Museum Mulls Merger

MoCA director prepares to resign as bigger museum offers lifeline

(Newser) - The future of LA's troubled Museum of Contemporary Art became somewhat clearer yesterday, as the institution's director began negotiating his resignation and the larger Los Angeles County Museum of Art proposed a merger. Tomorrow the MoCA board will meet to decide the fate of the troubled museum, which has teetered...

BofA Will Lay Off 35K
 BofA Will Lay Off 35K 
Dec 11, 2008 4:59 PM CST

BofA Will Lay Off 35K

Recession, takeover of Merrill to blame for latest employee dump

(Newser) - Bank of America said today it will cut between 30,000 and 35,000 jobs in the next 3 years, the AP reports; the move is spurred by the continuing economic downturn and the bank’s recent purchase of Merrill Lynch. Cuts will be broad and will affect both the...

Ex-AOL Chief Seeks Funds to Buy Yahoo

$30B difficult to raise amid recession

(Newser) - After months of advising both Microsoft and Yahoo on a failed deal, former AOL chief Jonathan Miller is trying to put together a bid for Yahoo himself. The venture capitalist is asking private investors to help him amass the $30 billion needed to acquire the struggling, $10-a-share search engine group,...

Price Dispute Sinks TwitFace Merger Talks

Twitter questions value of $500M stock offer from Facebook

(Newser) - Merger talks between Facebook and popular newcomer Twitter have ended without a deal, reports All Things Digital. Twitter wasn't satisfied with Facebook's offer of $500 million in stock, apparently concerned that the stock's valuation was too high, say insiders. Twitter also had concerns about how the two would integrate, and...

Frantic Citigroup Considers Sell-Off

Merger or sale become options as bank scrambles to stop the drop

(Newser) - Citigroup is keeping all its options on the table as its share price plunges—including selling itself, insiders tell the Wall Street Journal.  The battered giant's share price plummeted another 26% yesterday—its worst one-day hit ever—chalking up an 83% dive for the year. Directors plan crisis talks...

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