mergers and acquisitions

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Yahoo Officially Shoots Down Microsoft

No counterproposal on the table

(Newser) - Yahoo officially rejected Microsoft’s $31-per-share takeover offer today, saying the bid, which represents a 62% premium, “substantially undervalues” the company, Bloomberg reports. The statement didn’t specify a counteroffer, but Yahoo is seeking $40 a share, the Wall Street Journal reports. “Yahoo thinks they’re worth more...

Microsoft Mulls Ways to Up Ante
Microsoft Mulls Ways to Up Ante
Feb 11, 2008 8:37 AM CST

Microsoft Mulls Ways to Up Ante

Software giant deciding between very dirty tricks and somewhat dirty tricks

(Newser) - Just how hostile Microsoft’s takeover bid for Yahoo becomes is up to one man: Christopher Liddell, the mostly anonymous former banker masterminding the deal, the New York Times reports. Microsoft could simply raise its offer, or it could try some old-fashioned Wall Street strong-arming. “You have to be...

Microsoft's Big Yahoo Offer May Be a Ruse

PC leader aims only to block a Yahoo-Amazon alliance, analyst says

(Newser) - One possible reason for Microsoft’s massive bid for Yahoo: It’s a ploy to block a Yahoo-Amazon team-up, one analyst says. The $44.6 billion offer will never make it past regulators, Trip Chowdhry explains to MarketWatch. But Microsoft insists otherwise: Chowdhry’s report “is completely incorrect,”...

Yahoo Searches for Answer to Microsoft Bid

Company would like to stay independent, but the odds look bad

(Newser) - Yahoo is struggling to find shareholder-pleasing alternatives to Microsoft's buyout bid, reports the Wall Street Journal. Selling Yahoo Japan is one possibility. An outsourcing deal with Google for its search ads that could boost revenue 25% is another, yet would raise regulatory issues. And shareholders would need to be convinced...

Microsoft May Borrow for 1st Time to Fund Yahoo Deal

Computer giant says it may combine cash and credit for $44.6B offer

(Newser) - Microsoft is likely to borrow for the first time to finance its $44.6 billion bid for Yahoo, the company's CFO said yesterday, rather than drawing down its reserves to fund the half-cash, half-stock offer. After spending $31 billion on stock buybacks and dividend payouts in 2007, Microsoft has $21...

Microsoft + Yahoo: Still Not Sexy to Job Applicants?

Combo may not aid companies' recruiting image

(Newser) - Among the many uncertainties about a Microsoft-Yahoo marriage is whether the combined company would gain any sex appeal in the Silicon Valley recruiting market, reports the New York Times. If both are washed up compared to job fair belles like Google and Facebook, would joining help them prevail in the...

Microsoft-Yahoo Draws Huzzahs From Analysts
Microsoft-Yahoo Draws Huzzahs From Analysts
OPINION
Feb 1, 2008 2:46 PM CST

Microsoft-Yahoo Draws Huzzahs From Analysts

Some see bid turning hostile if Yang balks at Ballmer offer

(Newser) - First reaction to Microsoft's bid to buy Yahoo for $44 billion has been generally positive, especially among Wall Street analysts. Silicon Alley Insider's Henry Blodget, an ex-analyst, quotes several who predict regulators and shareholders will have no problems with the deal. Meanwhile, New York Times blogger Steven M. Davidoff says...

Sprint Plans Major Asset Write-Off
Sprint Plans Major Asset Write-Off
Feb 1, 2008 12:27 PM CST

Sprint Plans Major Asset Write-Off

So much for goodwill: $31B in losses pegged to Nextel merger

(Newser) - Sprint Nextel says it may write off up to $31 billion related to the merger that created the combined company. The move comes just after a regime change at the company, which has struggled since the 2005 merger, and lost about 1 million customers last year. The write-off, accounting for...

Newcastle Sells for $15.2B
Newcastle Sells for $15.2B
Jan 25, 2008 12:00 PM CST

Newcastle Sells for $15.2B

Carlsburg, Heineken divvy up UK brewer

(Newser) - After months of playing hard-to-get, UK brewer Scottish & Newcastle has agreed to a $15.2 billion takeover bid from Carlsberg and Heineken. The offer tops a bid rejected in March by 11.1%, Forbes reports. Experts expected S&N to squeeze out a better deal, especially after it filed...

SEC Opens ABN Amro Insider Trading Probe

European banks' transactions ahead of merger under scrutiny

(Newser) - The US Securities and Exchange Commission has opened an inquiry into possible insider trading surrounding last year's takeover of Dutch bank ABN Amro. Holland's Financieele Dagblad reports that Fortis, Barclays, Santander, and Royal Bank of Scotland—which eventually won the bidding—have been asked for information about trading in ABN...

Economic Worries Propel Silicon Valley Deals

Oracle and Sun Microsystems may be only tip of the iceberg

(Newser) - Recent acquisitions by Sun Microsystems and Oracle could be the opening round of new Silicon Valley deal-making, the Wall Street Journal reports, as tech companies worried about a US economic slowdown seek to strengthen their positions. Smaller companies struggling to stay afloat are tempting targets; bigger fish also want to...

Tumbling Yahoo Now a Target?
Tumbling Yahoo Now a Target?
Jan 11, 2008 9:51 PM CST

Tumbling Yahoo Now a Target?

Rumors of Microsoft takeover still swirling

(Newser) - Yahoo's falling core value threatens the company's future and is ringing alarm bells for investors, the New York Times’ Saul Hansell warned in his "Bits" blog. The central business of Yahoo.com, excluding subsidiary holdings, is worth less than half of its current share price, and a paltry 7%...

Time Warner Focus Turns to Possible Breakup

Investors want stripped-down, agile company

(Newser) - What do you do when you take over the world’s biggest media company? If you’re new Time Warner CEO Jeffrey Bewkes, you probably sharpen some knives. Bewkes may soon spin off AOL as well as the conglomerate’s cable and magazine divisions, Bloomberg reports. “There’s nothing...

Philips to Buy Sleep Therapy Firm for $5B

Respironics deal latest in expansion into US health-care sector

(Newser) - Electronics giant Philips will buy Respironics, an American maker of sleep therapy products, for $5.1 billion, Reuters reports, its most expensive foray yet into the health-care sector. That plan has seen Philips purchase lighting firm Genlyte for $2.7 billion and medical systems provider Visicu for $430 million within...

Kayak Buys Rival SideStep for $200M
Kayak Buys Rival SideStep for $200M
Dec 21, 2007 9:43 AM CST

Kayak Buys Rival SideStep for $200M

Travel aggregator raises funds from old and new sources

(Newser) - Discount travel search engine Kayak has acquired competitor SideStep for $200 million. Kayak raised nine figures in a new round of financing from its own investors, new VC companies, and SideStep's backers. It then bought SideStep for $180 million in cash plus a redistributed $20 million of SideStep's capital, reports...

Credit, Economy Bring M&A Action to a Crawl

After a golden year for LBOs, experts see a chilling of a once-hot market

(Newser) - The slowing economy and financing costs that have more than doubled since June because of the subprime collapse could ice the pace of mergers and acquisitions in 2008, Bloomberg reports. After a record $3.9 trillion in deals in 2007, analysts predict transaction value could plummet 20%. "The mega-LBO...

Ingersoll-Rand to Buy Trane for $10B in Cash and Stock

I-R, flush with cash, makes a deal private equity players would love

(Newser) - In what would be the largest industrial acquisition since 1999, Ingersoll-Rand has agreed to buy Trane for $10.1 billion, creating the second-largest manufacturer of air conditioners and climate-control systems in the world, the Wall Street Journal reports. The deal requires regulatory and shareholder approval but little borrowing, because I-R...

Sirius, XM Stocks Rise as Merger Looms

Analyst predicts Justice Department won't block Sirius from buying XM

(Newser) - XM Satellite Radio and Sirius stock prices got a boost Friday when an analyst predicted the Justice Department won't block Sirius from buying out the larger XM. Morning trade saw XM shares jump 9.4% and Sirius shares 4.6%, reports CNN. The analyst said that shares could hit $20...

Hewlett-Packard Nixes BEA Buy
Hewlett-Packard Nixes BEA Buy
Nov 21, 2007 12:48 PM CST

Hewlett-Packard Nixes BEA Buy

ITer says it's best to remain neutral between software companies

(Newser) - “We are the Switzerland of these heterogenous environments,” a Hewlett-Packard exec said by way of explaining why his company is not interested in acquiring BEA, after BEA rejected an offer from Oracle as too low. HP is a partner of BEA’s, the company's software chief said, but...

Garmin Drops Out of Tele Atlas Bidding

GPS maker's shares soar after allowing rival TomTom to acquire map provider

(Newser) - Garmin, the world’s top GPS producer, dropped its $3.3 billion bid for mapmaker Tele Atlas yesterday, allowing rival TomTom to seal the deal. That may prove a long-term disadvantage for Garmin, but investors love the non-deal, sending shares up 16%, their best gain in five years. “There’...

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