Nadia's Feed
Feb 19, 2013

Office Depot, OfficeMax in talks to merge; deal seen soon

NEW YORK (Reuters) – Office Depot Inc (ODP.N: Quote, Profile, Research, Stock Buzz), the No.2 U.S. office supply retailer, is in advanced talks to merge with smaller rival OfficeMax Inc (OMX.N: Quote, Profile, Research, Stock Buzz) and a deal could come as early as this week, a person familiar with the matter said on Monday.

Both companies, which trail industry leader Staples Inc (SPLS.O: Quote, Profile, Research, Stock Buzz), are under much pressure from investors to boost profitability as well as shareholder value, and a merger would help them to cut costs, close stores and boost their clout with suppliers.

Feb 19, 2013

OfficeMax investor says will support Office Depot merger

NEW YORK (Reuters) – Neuberger Berman LLC, one of OfficeMax Inc’s (OMX.N: Quote, Profile, Research, Stock Buzz) top shareholders, would support a merger with Office Depot Inc (ODP.N: Quote, Profile, Research, Stock Buzz) depending on deal terms, according to a portfolio manager at the investment firm.

Benjamin Nahum of Neuberger Berman told Reuters in an interview that his preference would be for OfficeMax to declare a special dividend before merging with Office Depot.

Feb 16, 2013

News Corp, popular tech blog contemplate split -sources

Feb 15 (Reuters) – AllThingsD, the widely read technology
blog run by Kara Swisher and Walt Mossberg, has begun
discussions with owner News Corp about extending or
ending their partnership, sources familiar with the situation
told Reuters.

According to these sources, AllThingsD’s contract with News
Corp expires at the end of the year. One of the sources said
Swisher and Mossberg have to deliver a business plan by next
week to Robert Thomson, the former Wall Street Journal managing
editor who will run News Corp’s publishing unit as CEO after it
is spun off.

Feb 15, 2013

Exclusive: News Corp, popular tech blog contemplate split – sources

By Peter Lauria and Nadia Damouni

(Reuters) – AllThingsD, the widely read technology blog run by Kara Swisher and Walt Mossberg, has begun discussions with owner News Corp about extending or ending their partnership, sources familiar with the situation told Reuters.

According to these sources, AllThingsD’s contract with News Corp expires at the end of the year. One of the sources said Swisher and Mossberg have to deliver a business plan by next week to Robert Thomson, the former Wall Street Journal managing editor who will helm News Corp’s publishing unit as CEO after it is spun off.

Feb 12, 2013

GSK, others weigh $3-4 billion deal for Brazilian drugmaker: sources

LONDON/NEW YORK (Reuters) – Britain’s GlaxoSmithKline (GSK.L: Quote, Profile, Research, Stock Buzz) is one of several groups exploring a potential takeover of Ache Laboratorios Farmaceuticos, one of Brazil’s biggest drugmakers, people familiar with the matter said.

The privately owned business is attractive to a number of drug companies looking to increase their footprint in Latin America and could fetch $3-4 billion, or even more if competition is keen, they added.

Feb 9, 2013

Opposition grows to Dell’s landmark $24.4 billion buyout

NEW YORK (Reuters) – Three of Dell Inc’s (DELL.O: Quote, Profile, Research, Stock Buzz) largest investors joined Southeastern Asset Management on Friday in objecting to a $24.4 billion buyout of the No. 3 PC maker led by Chief Executive Michael Dell, sources said, as opposition grows to the largest buyout since the start of the financial crisis.

Top independent shareholder Southeastern formally voiced its opposition, which Reuters first reported late on Thursday, galvanizing other investors.

Feb 8, 2013

Dell’s largest investor opposes buyout as too low

By Poornima Gupta and Nadia Damouni

(Reuters) – Dell Inc’s largest independent shareholder, Southeastern Asset Management, on Friday vowed to fight a $24.4 billion buyout of the No. 3 PC maker led by CEO Michael Dell, cementing opposition to what would be the largest buyout since the start of the financial crisis.

Southeastern’s opposition to the deal, which Reuters first reported late on Thursday, sets up a potential battle with billionaire founder Dell and private equity firm Silver Lake, who are pushing a deal to take the company private at $13.65 a share.

Feb 8, 2013

Dell shareholder Southeastern unhappy with buyout

Feb 7 (Reuters) – Dell Inc’s largest independent
shareholder, Southeastern Asset Management Inc, has told the
computer maker that a $24.4 billion buyout bid undervalues it,
adding to a chorus of investor dissatisfaction with the landmark
deal to take it private, two sources close to the situation
said.

Southeastern has privately told the company that it is
“disturbed” by a $13.65 per share offer for the third-largest PC
maker by a consortium led by founder and CEO Michael Dell, and
instead believes Dell is worth $20 per share, the sources said
on Thursday.

Feb 8, 2013

Exclusive: Dell shareholder Southeastern unhappy with buyout

By Nadia Damouni and Aaron Pressman and Greg Roumeliotis

(Reuters) – Dell Inc’s largest independent shareholder, Southeastern Asset Management Inc, has told the computer maker that a $24.4 billion buyout bid undervalues it, adding to a chorus of investor dissatisfaction with the landmark deal to take it private, two sources close to the situation said.

Southeastern has privately told the company that it is “disturbed” by a $13.65 per share offer for the third-largest PC maker by a consortium led by founder and CEO Michael Dell, and instead believes Dell is worth $20 per share, the sources said on Thursday.

Feb 6, 2013

Dell to go private in landmark 15.5 billion pounds deal

SAN FRANCISCO/NEW YORK (Reuters) – Michael Dell struck a deal to take Dell Inc private for 15.5 billion pounds ($24.4 billion) in the biggest leveraged buyout since the financial crisis, partnering with the Silver Lake private equity firm and Microsoft Corp to try to turn around the struggling computer company without Wall Street scrutiny.

The deal, which requires approval from a majority of shareholders excluding Dell himself, would end a 24-year run on public markets for a company that was conceived in a college dorm room and quickly rose to the top of the global personal computer business – only to be rendered an also-ran over the past decade as PC prices crumbled and customers moved to tablets and smartphones.