Nadia's Feed
May 16, 2013

Dimon has big say over who serves on JPMorgan board

May 16 (Reuters) – For years, JPMorgan Chase & Co
Chairman and CEO Jamie Dimon and other executives have
hand-picked new directors, in a practice that is now unusual for
a major U.S. bank.

The JPMorgan board’s governance committee, responsible for
hiring new members, relies almost entirely on referrals from
management to find director nominees, according to two sources
familiar with the bank’s practices and a review of bank
regulatory filings. All of the other 10 largest U.S. banks say
they use executive search firms, which have knowledge of a range
of possible candidates.

May 5, 2013

Investors may lobby JPMorgan to clip Dimon’s wings if vote fails

By Nadia Damouni and David Henry

(Reuters) – JPMorgan Chase & Co’s (JPM.N: Quote, Profile, Research, Stock Buzz) Jamie Dimon may be losing ground in his fight to keep the title of chairman, as some major investors push for more oversight of the chief executive after the “London whale” trading losses.

At the largest U.S. bank’s annual meeting in two weeks, shareholders will be able to vote on a non-binding proposal to separate the chairman and CEO roles. Two of the bank’s top 10 shareholders told Reuters they are considering voting in favor of the proposal, a reversal of their position last year, because of the disastrous bets on credit derivatives that cost the bank more than $6 billion last year.

Apr 15, 2013

Dish to stand by for now on Sprint, Clearwire merger: source

NEW YORK (Reuters) – Dish Network Corp has no immediate plans to disrupt Sprint Nextel Corp’s deal to buy the shares of Clearwire Corp it does not already own, despite Dish’s unsolicited offer for Sprint, a source close to the matter said on Monday.

On Monday Dish, the No. 2 U.S. satellite television provider, offered to buy Sprint for $25.5 billion in cash and stock, a move that could thwart the proposed acquisition of Sprint by Japan’s SoftBank Corp.

Apr 11, 2013

Deutsche Tel deal change paves way to cut U.S. exposure

FRANKFURT/NEW YORK, April 11 (Reuters) – Sweetening the
terms of a U.S. merger not only improves Deutsche Telekom’s
chances of getting a deal done, but may also pave the way for
what some investors and bankers think it really wants – to
reduce its exposure to a highly competitive market.

The German group’s T-Mobile USA unit lacks the critical mass
to take on bigger U.S. rivals Verizon, AT&T and
Sprint and has been losing market share.

Apr 11, 2013

Exclusive – Two buyout groups ready BMC Software final bids -sources

NEW YORK (Reuters) – Business technology maker BMC Software Inc is expected to receive final takeover bids on April 22, with potential buyers pared down to two private equity groups, four people close to the matter said on Thursday.

Shares of BMC rose 1.7 percent to $45.50 on Nasdaq.

Buyout firm Thoma Bravo has joined a bidding group led by KKR & Co LP and TPG Capital LP, while Bain Capital LLC and Golden Gate Capital remain teamed up for the auction, the people added. The private equity firms are finalizing financing for their respective bids, said the sources, who asked not to be named because the talks are private.

Apr 11, 2013

Two buyout groups ready BMC Software final bids -sources

NEW YORK, April 11 (Reuters) – Business technology maker BMC
Software Inc is expected to receive final takeover bids
on April 22, with potential buyers pared down to two private
equity groups, four people close to the matter said on Thursday.

Shares of BMC rose 1.7 percent to $45.50 on Nasdaq.

Buyout firm Thoma Bravo has joined a bidding group led by
KKR & Co LP and TPG Capital LP, while Bain Capital LLC
and Golden Gate Capital remain teamed up for the auction, the
people added. The private equity firms are finalizing financing
for their respective bids, said the sources, who asked not to be
named because the talks are private.

Apr 11, 2013

Deutsche Tel deal compromise paves way to cutting U.S. exposure

FRANKFURT/NEW YORK (Reuters) – Sweetening the terms of a U.S. merger not only improves Deutsche Telekom’s chances of getting a deal done, but may also pave the way for what some investors and bankers think it really wants – to reduce its exposure to a highly-competitive market.

The German group’s T-Mobile USA unit lacks the critical mass to take on bigger U.S. rivals Verizon (VZ.N: Quote, Profile, Research, Stock Buzz), AT&T (T.N: Quote, Profile, Research, Stock Buzz) and Sprint (S.N: Quote, Profile, Research, Stock Buzz) and has been losing market share.

Apr 4, 2013

Blackstone heading to Texas to firm up Dell strategy

NEW YORK/SAN FRANCISCO, April 4 (Reuters) – Blackstone Group
will visit Dell Inc’s headquarters on Monday to begin
an in-depth analysis of the company, sources said, a strong sign
the buyout firm is proceeding with an offer that could upset
founder Michael Dell’s $24.4 billion buyout bid.

Blackstone and billionaire investor Carl Icahn
separately made preliminary proposals in late March that, if
finalized, could be superior to the offer on the table from
Michael Dell and private equity firm Silver Lake Partners LP.

Apr 1, 2013

Timken responds to shareholder’s break-up analysis

NEW YORK/BANGALORE April 1 (Reuters) – Investment firm
Relational Investors LLC and a large public pension fund expect
to meet with representatives of Timken Co on Tuesday, a
source close to the matter said, despite the diversified
manufacturer’s reluctance to split its businesses.

Earlier Monday, Canton, Ohio-based Timken Co
reiterated that it will not split its steel and bearings
businesses despite pressure from its top shareholder, and said
the investor’s analysis of benefits from a break-up had serious
flaws.

Mar 28, 2013

Exclusive: Clearwire expected to tap Sprint financing for April

NEW YORK (Reuters) – Clearwire Corp plans to notify Sprint Nextel Corp on Thursday that it will tap another $80 million of financing in April as part of its deal with the No. 3 U.S. wireless carrier, two people close to the matter said.

In December, Sprint offered $2.97 per share to buy the rest of Clearwire that it does not own, and provided the wireless broadband operator up to $800 million in financing that it could draw on in installments of $80 million over 10 months.