Tag:
Takeover
Latest Headlines
Latest Headlines
Goldman Sachs accused of misappropriating info to win Hertz deal
Dollar Thrifty has been the object of takeover attention from rental car industry giants Hertz and Avis. It inked a deal with Hertz in April, and later received a higher bid from Avis. That offer was rebuffed to the chagrin of Dollar Thrifty shareholders, who are pressing their case in court.
Goldman Sachs hired by British Petroleum
Goldman Sachs ( NYSE: GS ) can certainly empathize with British Petroleum, which is going through a disastrous PR crisis in the wake of the Gulf Coast spill. So I guess it is not surprising that the embattled oil company has retained Goldman Sachs--along with the Blackstone Group and Credit Suis
Stress tests an opportunity for investment bankers?
The results of the stress tests are in, and bankers are poring over the details. The weak U.S. banks are, "eagerly looking for deal opportunities," reports the Financial Times . The overall results suggest strength, but some think the weak banks are prime pickings for the relatively few strong
Morgan Stanley tops M&A table
Advisory work on two big drug deals pushed Morgan Stanley to the top of the M&A league tables for the first quarter. The bank advised Wyeth on its $64.5 billion purchase by Pfizer and Schering Plough on its $46 billion takeover by Merck, Reuters notes. Such work allowed it to leap to the t
Buffett gives Wells Fargo a boost
Is Warren Buffett merely trying to talk up an investment? Given that Berkshire Hathaway was Wells Fargo's largest investor at the end of 2008, with a 7.2 percent stake, you might think so. But he's known as a straight shooter, and his credibility led Mr. Market to bid up Wells' stock energetically
Citi shareholders may not necessarily be wiped out
Is it really a case of the government vs. shareholders? Well, in certain scenarios, it is. If the government were to seize full control of the bank, of course shareholders would get wiped out. But we're dealing with likely possibilities that fall short of a full takeover.
Fortune suggests
Lessons from Continental Illinois?
The 1984 takeover of Continental Illinois seemed to be a success on the surface. But then head of the FDIC William Isaac has caused a stir with his column in the Wall Street Journal arguing that nationalization wouldn't work today. He has some good points, notably that the scale we're talk
Creeping toward nationalization?
What to make of all this talk of nationalization? It once seemed to be a far-fetched solution, but then Fannie and Freddie were forced into conservatorship. Now, the idea is being talked about as a real possibility for the likes of Citi and Bank of America. In fact, according to CNBC , some
Hedge fund woes spell opportunity for some
A lot of hedge funds have caved as of late, and those that have survived don't have the leverage they once did. That spells opportunity for more traditional investors, who are seeing arbitrage opportunities crop up again, reports Bloomberg . Back in the day, debt-crazed hedge funds closed such
Hexion calls off deal with Huntsman
You just knew this was coming. Credit Suisse and Deutsche Bank said a few months ago that they were not obligated to go forward with financing the Hexion Specialty Chemicals $6.5 billion takeover of Huntsman. It's now official. Hexion, owned by Apollo Management, has nixed the deal. It will pay Hu
