mergers and acquisitions

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FCC Approves Satellite Radio Merger
FCC Approves Satellite Radio Merger
Jul 25, 2008 8:21 PM CDT

FCC Approves Satellite Radio Merger

3-2 vote OKs $3.3B Sirius buyout of XM, ends 16-month drama

(Newser) - Federal regulators formally approved the merger of the United States' only two satellite radio operators today, ending a 16-month-long drama closely watched by Washington and Wall Street. Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc. will mean 18 million-plus subscribers will be...

After Yahoo, Microsoft Amps Up Search Effort

Ballmer says company can be more flexible now in Google fight

(Newser) - CEO Steve Ballmer is spinning Microsoft’s failure to acquire Yahoo expertly, telling analysts today that, unburdened by the search giant, the company can be more frisky and adaptable in its fight with nemesis Google, the Wall Street Journal reports. Actions might speak louder than words, though: Microsoft announced yesterday...

Roche Makes Genentech Takeover Bid
Roche Makes Genentech Takeover Bid
Jul 21, 2008 6:55 AM CDT

Roche Makes Genentech Takeover Bid

Swiss pharma bids $43.7B for remaining shares of biotech firm

(Newser) - Swiss pharmaceutical company Roche today offered $43.7 billion for the outstanding shares of Genentech, the San Francisco-based biotech firm in which Roche already owns a 55.9% stake, the Wall Street Journal reports. The $89-a-share offer is the latest in a series of big pharma companies, whose new drug...

Anheuser-Busch: The Deal That Sleeps With the Fishes

If relationship with Modelo hadn't soured on fishing trip, Belgians might have been staved off

(Newser) - Anyone mourning the takeover of Anheuser Busch by Belgium's InBev might want to know that the real turning point in that battle occurred more than a decade ago. On a fishing trip. In Mexico. The last real chance to outmaneuver InBev was lost when the US brewer failed to get...

Booming China Flexing Its M&A Muscle

Chinese companies snap up $42B in foreign assets so far in 2008

(Newser) - Chinese companies are on a buying binge, snapping up $42 billion worth of foreign assets in the first 6 months of 2008. That's a 500% increase over the previous year, and equal to the combined value of takeovers from 2000 to 2006, reports DealBook in the New York Times. And,...

InBev Boosts Bid for Bud, Making Buyout Likely

Deal now tops $50 million, and Anheuser is likely to accept

(Newser) - InBev has increased its bid for Anheuser-Busch to $70 a share, the Wall Street Journal reports. Although willing to replace the Budweiser-brewer’s board in a hostile takeover, the $5-per-share boost—bringing the total deal to $50 billion—is a signal that InBev would prefer to keep things friendly. Anheuser...

Dow Chemical Drops $15.3B on Rohm & Haas

Deal may signal start of consolidation in chemical industry

(Newser) - In what may be the beginning of a long-anticipated consolidation of the chemical industry, Dow Chemical today said it was buying coatings and electronic-materials company Rohm & Haas in a $15.3 billion all-cash deal, reports the Wall Street Journal. Dow is backed by $3 billion from Warren Buffett's Berkshire...

Icahn: Microsoft Will Only Negotiate With Me

Board must be replaced, Ballmer says

(Newser) - Carl Icahn says Microsoft is still in the hunt to acquire Yahoo, but only if the board is replaced, the Wall Street Journal reports. Icahn says Microsoft CEO Steve Ballmer “made it abundantly clear” to him that he wouldn’t talk with Yahoo’s current board, which he fears...

Yahoo Looks to Time Warner, News Corp.

With Microsoft again sniffing around, net giant explores options

(Newser) - Yahoo—back in the sights of Microsoft—is trying to keep its fate in its own hands, launching talks with potential partners, the Wall Street Journal reports. The Internet company reopened talks with Time Warner about a deal that would make AOL part of Yahoo and give Time Warner a...

Angry Worker Blasts Yahoo in Email

Missive blames office politics, lousy execs for sinking company

(Newser) - A sarcastic Yahoo employee slammed the company in an email sent to Fortune today, taking aim at futile executives and lousy decision-making. In the wake of Yahoo's latest shakeup, "things could not be better," the email says: True, past "reorgs" were sparked by pointless executive shifts, but...

Battered Citigroup Plans Major Layoffs

Firm will cut 10% of its investment-banking group

(Newser) - After being in the red for two quarters, Citigroup will this week hand out pink slips in its investment-banking division, looking to sack 10% of the group’s 65,000 employees. The move, which would eliminate entire trading desks worldwide, is unusually severe, the Wall Street Journal says. CEO Vikram...

Budweiser to Buy Corona to Stave Off Stella?

Anheuser-Busch tries to avoid InBev takeover with Modelo talks

(Newser) - Anhueser-Busch has approached Mexian brewer Grupo Modelo about a possible merger, the Wall Street Journal reports, in an attempt to thwart an unwanted $46.35 billion takeover bid from Belgium’s InBev NV. Anhueser already owns 50% of Modelo, which is best known for its Corona brand. By buying the...

Microsoft, Yahoo End Talks, Rule Out Merger

Weekend meeting torpedoes hopes of a merger

(Newser) - Looks like a Microsoft-Yahoo marriage is off—for good this time, the Wall Street Journal reports. In a meeting last weekend, Microsoft representatives stated “unequivocally” that the software giant was not interested in purchasing all of Yahoo for any price. Yahoo then ruled out an alternative of selling Microsoft...

Icahn: Yahoo Poison Pill 'Reprehensible'

But pricey severance plan kicks in if Icahn wins proxy fight, Yahoo says

(Newser) - Billionaire investor Carl Icahn yesterday called Yahoo’s poison-pill severance plan, designed to deter hostile takeovers, “reprehensible,” the Wall Street Journal reports, but Yahoo said the measure would kick in if Icahn wins control of the board. "Now they found a way to entrench themselves forever,"...

Belgium's InBev Mulls Budweiser Takeover

Stella maker could make unsolicited bid

(Newser) - Belgian-based brewer InBev NV is considering an unsolicited takeover of Anheuser-Busch, the Wall Street Journal reports. The Busch family is loathe to sell the 150-year-old American icon and brewer of Budweiser—Executive August A. Busch IV vowed it wouldn’t happen “on my watch”—but activist investors have...

Why Yahoo Should Sell&mdash; Before Microsoft Wakes Up
Why Yahoo Should Sell— Before Microsoft Wakes Up
analysis
May 20, 2008 10:08 AM CDT

Why Yahoo Should Sell— Before Microsoft Wakes Up

Forget cash flow; think sale price

(Newser) - Yahoo needs to sell to Microsoft, or it’ll wind up a cautionary tale, writes Dennis Berman in the Wall Street Journal. Yahoo currently trades at 48 times earnings—for comparison, GE trades at 15 times earnings, and Google at 33, even though both are growing faster than Yahoo’s...

Yahoo Says Icahn Doesn't Understand Full Picture

Billionaire investor launches bid to oust board

(Newser) - Hours after Carl Icahn began his quest to take over Yahoo’s board, the company issued a statement saying he has a "significant misunderstanding" of the recent Microsoft purchase offer, the Wall Street Journal reports. Icahn wants to unseat the current Yahoo board, replace it with one of his...

CBS Shells Out $1.8B to Buy CNET
CBS Shells Out $1.8B
to Buy CNET
May 15, 2008 8:33 AM CDT

CBS Shells Out $1.8B to Buy CNET

Network gives shareholders huge premium

(Newser) - CBS has agreed to buy CNET for $1.8 billion, the Wall Street Journal reports. The merger comes just as CNET was facing a full-scale shareholder revolt. Now, those investors are getting $11.50 a share, a price the stock hasn’t touched in two years and a 45% premium...

Italian Firm to Buy DRS Technologies
Italian Firm to Buy DRS Technologies
May 12, 2008 10:30 PM CDT

Italian Firm to Buy DRS Technologies

$5.3B sale gives Finmeccanica entry into US defense market

(Newser) - Italy's biggest defense contractor has agreed to buy DRS Technologies Inc. for $5.3 billion and grab a share of America's defense market, the Wall Street Journal reports. Finmeccanica will purchase the defense-electronics firm for $81 per share, a 32% premium on share price, pending approval by Washington. The deal...

HP, Looking for Edge, Close to Buying EDS for $12-13B

Computing giant seeks to expand services division, gain advantage over IBM

(Newser) - Hewlett-Packard is near a deal to buy Electronic Data Systems for $12-13 billion, the Wall Street Journal reports, an acquisition that would make it more competitive in the services sector with rival IBM. Confirmation was expected soon (HP admitted “advanced discussions” were underway), even as the tech consulting and...

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