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Mergers & Acquisitions

Private equity may be Wall Street's favorite fad diet, but sometimes a good, old-fashioned takeover is just what the market ordered

Stories

Stories 41 - 60 of 295

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September 2008
- Stocks Plunge at Open
  
  CNNMoney | Sep 15, 08 9:09 AM CDT
  
  (Newser) - Stocks tumbled at the opening bell this morning, with the Dow dropping more than 300 points after a weekend that turned the financial industry on its head. Lehman Brothers’ collapse and AIG’s request for $40 billion from the Federal Reserve “are causing a major financial panic this morning,” said one strategist—though Bank of America’s takeover of Merrill Lynch injected some optimism, CNNMoney reports. More »
- Bank of America to Buy Merrill Lynch for $44B
  
  Wall Street Journal | Sep 14, 08 8:19 PM CDT
  
  (Newser) - In a day of toppling dominoes on Wall Street, Bank of America agreed to buy Merrill Lynch for $44 billion, or $29 a share—about two-thirds of what it was worth a year ago and 50% of its highest value in 2007, the Wall Street Journal reports. The deal, struck over 2 days of intense negotiations, reconfigures the US banking world by making the nation's biggest bank even more powerful. More »
- Lehman on Brink as Barclays Backs Out
  
  Wall Street Journal | Sep 14, 08 2:31 PM CDT
  
  (Newser) - Barclays told federal regulators today that it is walking away from talks to buy all or part of Lehman Brothers. Barclays reportedly balked at a request that shareholders approve the agreement, a process that could take weeks—and left some wondering why the demand came up as late as today. But Barclays may only be walking away as a negotiating tactic, the Wall Street Journal reports. More »
- Wall St. Groans as Lehman Deal Takes Shape
  
  Wall Street Journal | Sep 13, 08 7:08 PM CDT
  
  (Newser) - A possible deal to salvage Lehman Brothers took shape today but cast a dark mood over Wall Street, the Wall Street Journal reports. Washington refused to save the ailing bank, sparking a plan for either Barclay's or Bank of America to buy "good" Lehman assets while other banks propped up an $85 billion "bad" Lehman bank—a move that could send ripples of pain through the financial industry. More »
- Feds, Banks Seek Lehman Deal by Tonight
  
  Wall Street Journal | Sep 13, 08 2:05 PM CDT
  
  (Newser) - Washington and Wall Street continued talks today aimed at solving the Lehman Brothers crisis as early as tonight, the Wall Street Journal reports. Federal Reserve officials still refuse to approve a bailout like the one that enabled JP Morgan to acquire Bear Stearns this summer—but possible buyers like Bank of America and Barclays are balking at Lehman's bad assets, which have so far hindered a deal. More »
- Fed Holds Crisis Talks on Lehman With Top Bank Execs
  
  Wall Street Journal | Sep 13, 08 6:39 AM CDT
  
  (Newser) - The New York Fed called an emergency meeting of Wall Street heavyweights last night to try to avert a collapse of Lehman Brothers, the Wall Street Journal reports. Top execs of all the big financial firms were urged by NY Fed Chief Timothy Geithner to work together to save the bank, the New York Times reports, arguing that if they failed, other banks would be in jeopardy. Treasury Secretary Henry Paulson and SEC Chairman Christopher Cox were also in attendance. More »
- BofA Could Partner With China Fund on Lehman Bid
  
  Financial Times (UK) | Sep 12, 08 12:17 PM CDT
  
  (Newser) - Bank of America could partner with financial investor JC Flowers and a Chinese sovereign wealth fund on a bid to rescue Lehman Brothers, the Financial Times reports. The hobbled investment bank had resisted selling itself, but is now eagerly seeking suitors before the last of its goodwill on Wall Street dries up. More »
- Feds Hope to Arrange Sale of Lehman This Weekend
  
  Washington Post | Sep 11, 08 5:13 PM CDT
  
  (Newser) - The US government is helping to arrange a sale of Lehman Brothers this weekend, the Washington Post reports, with the Treasury Department and Federal Reserve working with the reeling investment bank to hammer down its fate before the Asian markets open Monday morning. Officials are reportedly talking to several different suitors and helping Lehman sort through the different scenarios. More »
- Bank of America in Talks to Buy Lehman Bros.
  
  Wall Street Journal | Sep 11, 08 4:26 PM CDT
  
  (Newser) - Bank of America is in preliminary talks to acquire struggling investment bank Lehman Brothers, the Wall Street Journal reports. Lehman has been shopping itself around in a bid to stave off collapse, but potential suitors are wary. Many want Washington to assist with a sale of the bank, whose shares dipped more than 40%, to under $5, today. More »
- Maker of Marlboros May Buy Skoal for $10B
  
  New York Times | Sep 5, 08 8:25 AM CDT
  
  (Newser) - The nation’s largest cigarette maker, Altria Group, is in talks to acquire UST, the producer of Skoal and Copenhagen smokeless tobaccos for a rumored $10 billion, the New York Times reports. Altria, a spinoff of Philip Morris, makes Marlboro cigarettes. Negotiators were poised to strike a deal over the weekend, the Times notes. More »
- Coke Bids $2.4B for Chinese Juice Company
  
  Wall Street Journal | Sep 3, 08 10:12 AM CDT
  
  (Newser) - Buoyed by its highly visible sponsorship role at the Beijing Olympics, Coca-Cola has made a $2.4 billion offer for a Chinese juice and nectar company, the Wall Street Journal reports. The deal would be the second-largest acquisition ever by the company, which has been expanding into non-carbonated beverages in recent years, and the largest controlling purchase of a Chinese company by a foreign bidder. More »
- South Korean Banks Offer $5.3B for Stake in Lehman
  
  Associated Press | Sep 3, 08 7:47 AM CDT
  
  (Newser) - Korea Development Bank—which in August backed out of negotiations to acquire struggling Lehman Brothers—is back with bid for a 25% stake in the capital-starved bank for as much as $5.3 billion, reports the AP. The state-owned lender says it will form a consortium of South Korean banks to pay for the deal, and could increase its stake later. More »
August 2008
- BA, American Hope 3rd Time Is the Charm
  
  New York Times | Aug 15, 08 6:48 AM CDT
  
  (Newser) - American Airlines and British Airways are making a third stab at a joint business agreement—and this time, reports the New York Times , the deal might actually go through. American, BA, and the Spanish carrier Iberia are applying for antitrust approval to form a global network. The CEO of American's parent company today predicted that the arrangement would win "swift approval" amid loosened regulations in a collapsing industry. More »
July 2008
- Bristol-Myers Makes Bid for Icahn's ImClone
  
  Wall Street Journal | Jul 31, 08 1:21 PM CDT
  
  (Newser) - Already a 17% shareholder, Bristol-Myers Squibb laid down a $4.5 billion offer to buy the rest of ImClone shares, the Wall Street Journal reports. The $60-a-share offer, sent to ImClone chairman Carl Icahn today, is a 29% premium on yesterday's closing price and makes Bristol the second pharma giant to gun for its biotech partner in as many weeks. More »
- Court Overturns Whole Foods' '07 Merger
  
  Austin American-Statesman | Jul 29, 08 4:15 PM CDT
  
  (Newser) - A federal appeals court today overturned a ruling that allowed Whole Foods to buy out rival grocer Wild Oats, the Austin-American Statesman reports. The merger was completed last summer, and Whole Foods has since closed 12 Wild Oats stores, sold off 35 others, and is renovating the rest—making unclear how a reversal of the deal would be executed. More »
- Storied Equity Firm KKR Goes Public Today
  
  Wall Street Journal | Jul 28, 08 6:06 AM CDT
  
  (Newser) - Legendary buyout firm Kohlberg Kravis Roberts & Co.—battling the credit crunch and moribund in the deal-making department this year—will go public this morning in an attempt to kick-start its business and take over its flagging European affiliate, reports the Wall Street Journal. KKR could be worth up to $15 billion when it hits the New York Stock Exchange. More »
- FCC Approves Satellite Radio Merger
  
  Associated Press | Jul 25, 08 8:21 PM CDT