Jeffrey's Feed
Jul 12, 2013
via Breakingviews

Fruity American M&A saga may be about to ripen

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By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

An epic American M&A saga may be about to come full circle. Nearly 25 years after it was carved up in a landmark deal, much of fruit group Del Monte could be put back together. Along the way, the U.S. food giant has become an enormous part of Wall Street – and even City of London – lore. It’s practically a textbook unto itself for merger lawyers and bankers.

Jul 10, 2013
via Breakingviews

Tribune politics play into Murdoch’s hands

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It isn’t often that the tarnished Rupert Murdoch finds himself looking anything like a white knight. Tribune Co’s plan to spin off its newspapers seems, though, to put the media mogul squarely in that role.

Jul 10, 2013

Breakingviews- Tribune politics play into Murdoch’s hands

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Jeffrey Goldfarb

NEW YORK, July 10 (Reuters Breakingviews) – It isn’t often
that the tarnished Rupert Murdoch finds himself looking anything
like a white knight. Tribune Co’s (TRBAA.PK: Quote, Profile, Research) plan to spin off
its newspapers seems, though, to put the media mogul squarely in
that role.

Jul 9, 2013
via Breakingviews

Ackman’s new fund is off-Target – in a good way

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Bill Ackman’s new fund is off-Target – in a good way. Four years after the hedge fund boss ate humble pie for a bad concentrated bet on the U.S. retail chain, he is seeking $1 billion for another secret single-stock pick. Paying for the privilege to invest blind in a publicly listed company warrants skepticism. But Ackman may have learned from his mistakes.

Jul 9, 2013

Breakingviews- Ackman’s new fund is off-Target – in a good way

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Jeffrey Goldfarb

NEW YORK, July 9 (Reuters Breakingviews) – Bill Ackman’s new
fund is off-Target – in a good way. Four years after the hedge
fund boss ate humble pie for a bad concentrated bet on the U.S.
retail chain, he is seeking $1 billion for another secret
single-stock pick. Paying for the privilege to invest blind in a
publicly listed company warrants skepticism. But Ackman may have
learned from his mistakes.

Jul 1, 2013

Breakingviews:Tribune’s TV deal should spawn repeats

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Jeffrey Goldfarb

NEW YORK, July 1 (Reuters Breakingviews) – U.S. television
bosses are stealing a page from their copycatting colleagues on
the programming side. Tribune (TRBAA.PK: Quote, Profile, Research), the newspaper
publisher recently out of bankruptcy protection, on Monday
disclosed plans to buy 19 TV stations for $2.7 billion. The deal
comes fast on the heels of Gannett’s (GCI.N: Quote, Profile, Research) intent to acquire
broadcaster Belo (BLC.N: Quote, Profile, Research). Such combinations offer healthy
revenue synergies and often, as for Tribune, tax benefits, too.
Expect more repeats.

Jun 18, 2013

Breakingviews-Tribune tax hell perpetuates vicious circle

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Jeffrey Goldfarb

NEW YORK, June 18 (Reuters Breakingviews) – Tribune’s tax
hell perpetuates a vicious circle. The U.S. media giant may wind
up owing tax collectors over $500 million for a couple of deals
executed under former owner and real estate mogul Sam Zell. It’s
a reminder of how the complex tax code creates perverse
incentives that can boomerang.

Jun 7, 2013
via Breakingviews

JPMorgan and Apple rows upstaged by Timken’s

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Big targets were all the rage this shareholder voting season in the United States. Uppity investors set their sights on industry heavyweights like JPMorgan and Apple. Such headline-grabbing giants overshadowed activist investor Ralph Whitworth’s success at the far smaller Timken. He persuaded fellow shareholders to approve his ballot campaign to break up the steel and ball bearing manufacturer. It’s the result that boards should be most carefully watching.

May 29, 2013
via Breakingviews

Grim reaper breathes life into moribund M&A market

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The grim reaper is breathing life into the moribund M&A market. Service Corp International has agreed to buy rival Stewart Enterprises for $1.4 billion in a deal that combines the two largest U.S. funeral home and cemetery operators. Chief executives and shareholders look to be remarkably at peace with just this sort of transaction.

May 23, 2013
via Breakingviews

Bank governance stigma can be fixed lickety-split

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By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It’s time to escalate the kerfuffle over corporate governance at U.S. financial institutions. Jamie Dimon fought aggressively to retain both the chief executive and chairman roles at JPMorgan, in large part because a shareholder vote to separate them could have been seen as a demotion. After all, if peers like Lloyd Blankfein at Goldman Sachs hold the two top jobs, others who are just CEOs might be left feeling like second-class citizens of sorts. Regulators should turn the division of labor into a virtue.