Nadia's Feed
Sep 13, 2013

Exclusive: BlackBerry bidders may want to carve up business – sources

NEW YORK (Reuters) – A handful of potential bidders, including private equity firms, are lining up to look at BlackBerry Ltd, but initial indications suggest that interest is tepid and buyers are eyeing parts of the Canadian smartphone maker rather than the whole company, several sources familiar with the situation said.

Private equity firms are mostly interested in businesses such as BlackBerry’s operating system and the patents around its keyboard, two of the sources said. However, one possibility is for a Canadian pension fund to team up with an investor to buy the whole company, which is currently worth a little more than $5 billion, one of the sources said.

Sep 10, 2013

Cisco enters data storage market with purchase of Whiptail

By Nicola Leske and Nadia Damouni

(Reuters) – Cisco Systems Inc on Tuesday announced its first foray into the data storage market, saying it would pay $415 million to acquire privately held storage system maker Whiptail.

Cisco said it will pay cash and incentives for the acquisition, expected to close in the first quarter of 2014.

Sep 10, 2013

Exclusive: Microsoft urged to put Mulally, Lawrie on CEO shortlist

By Nadia Damouni

(Reuters) – At least three of the top 20 investors in Microsoft Corp want a turnaround expert to succeed Steve Ballmer as chief executive and have urged the technology giant’s board to consider Ford Motor Co CEO Alan Mulally and Computer Sciences Corp CEO Mike Lawrie for the job, several sources familiar with the matter said.

The special committee of the board, which is conducting the CEO search, and its advisers have been meeting with shareholders after Ballmer’s surprise decision late last month to retire within a year, the sources said. It could name a CEO as soon as the end of this year, the sources said.

Sep 10, 2013

Microsoft urged to put Mulally, Lawrie on CEO shortlist

Sept 10 (Reuters) – At least three of the top 20 investors
in Microsoft Corp (MSFT.O: Quote, Profile, Research) want a turnaround expert to succeed
Steve Ballmer as chief executive and have urged the technology
giant’s board to consider Ford Motor Co (F.N: Quote, Profile, Research) CEO Alan Mulally
and Computer Sciences Corp (CSC.N: Quote, Profile, Research) CEO Mike Lawrie for the job,
several sources familiar with the matter said.

The special committee of the board, which is conducting the
CEO search, and its advisers have been meeting with shareholders
after Ballmer’s surprise decision late last month to retire
within a year, the sources said. It could name a CEO as soon as
the end of this year, the sources said.

Aug 28, 2013

Highest-paid U.S. CEOs are often fired or fined: study

NEW YORK (Reuters) – About 40 percent of the highest-paid CEOs in the United States over the past 20 years eventually ended up being fired, paying fraud-related fines or settlements, or accepting government bailout money, according to a study released on Wednesday.

The report by the Institute for Policy Studies, a left-leaning think tank, said that chief executives for large companies received about 354 times as much pay as the average American worker in 2012. That gap has soared since 1993, when CEOs for big companies received about 195 times as much.

Aug 21, 2013

JPMorgan close to picking two new directors: source

NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) is close to naming two new directors with finance and risk management expertise to its board, a source close to the matter said, as the largest U.S. bank faces a new wave of regulatory scrutiny.

The bank has identified the candidates but the board has not yet voted on them, the source said on Tuesday, adding that a decision is likely to come in September. The names of the candidates could not be learned, although sources have said that Chairman and Chief Executive Jamie Dimon has extensive say in who is named to the board.

Aug 19, 2013

KKR, Warburg Pincus vying for Mitchell International: sources

NEW YORK (Reuters) – KKR & Co LP (KKR.N: Quote, Profile, Research, Stock Buzz) and Warburg Pincus LLC are among the private equity firms competing for Mitchell International Inc, a car and property claims software company that could fetch up to $1.5 billion, according to four people familiar with the matter.

Advent International Corp and Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz) are also participating in the auction for Mitchell, which is in the second round of bidding, the sources said on condition of anonymity because the process is confidential.

Aug 15, 2013

Credit Suisse moving tech banking head Wah to Silicon Valley

NEW YORK (Reuters) – Credit Suisse Group AG (CSGN.VX: Quote, Profile, Research) is moving the global co-head of its technology, media and telecom group to San Francisco from New York, bolstering its Silicon Valley investment banking presence in anticipation of more deals in the sector, two sources familiar with the move said on Thursday.

David Wah, who is advising private equity firm Silver Lake Partners on the proposed $25 billion deal to take Dell Inc (DELL.O: Quote, Profile, Research) private, will remain co-head of the group alongside New York-based Mark Simonian, one of the sources said.

Aug 9, 2013

Exclusive: BlackBerry open to going private, sources say

By Nadia Damouni, Euan Rocha and Greg Roumeliotis

(Reuters) – BlackBerry Ltd is warming up to the possibility of going private, as the smartphone maker battles to revive its fortunes, several sources familiar with the situation said.

Chief Executive Thorsten Heins and the company’s board is increasingly coming around to the idea that taking BlackBerry private would give them breathing room to fix its problems out of the public eye, the sources said.

Aug 9, 2013

BlackBerry open to going private, sources say

Aug 9 (Reuters) – BlackBerry Ltd is warming
up to the possibility of going private, as the smartphone maker
battles to revive its fortunes, several sources familiar with
the situation said.

Chief Executive Thorsten Heins and the company’s board is
increasingly coming around to the idea that taking BlackBerry
private would give them breathing room to fix its problems out
of the public eye, the sources said.