PARIS/NEW YORK (Reuters) – A proposed mega-merger between global ad agencies Publicis and Omnicom could bring rival accounts such as Coca-Cola and PepsiCo under one firm, underscoring the scale of the $35.1 billion deal and the potential conflicts it raises.
The companies said on Sunday that the deal – presented as a merger of equals – would give the combined firm the necessary scale and investment firepower to cope with rapid changes wrought by technology on the advertising business.
By Nicola Leske
(Reuters) – Xerox Corp (XRX.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected second-quarter earnings on Thursday on growth in its services division and reiterated its full-year targets as its restructuring efforts showed signs of paying off.
Known for its printers and copiers, Xerox last year kicked off a restructuring program focused on its services business, which now generates about 55 percent of revenue and manages anything from toll systems to healthcare programs.
By Nicola Leske
(Reuters) – Cisco Systems Inc said on Tuesday it plans to purchase cybersecurity company Sourcefire Inc for $2.7 billion, a deal that analysts say should spark more acquisitions in the industry as large vendors seek to profit from growing demand for IT security.
Cisco, which has been seeking targets to boost its network security business, said it will pay $76 per share in cash for Sourcefire, a premium of 28.6 percent over its closing price on Monday of $59.08.
By Nicola Leske
International Business Machine Corp beat second-quarter earnings estimates thanks to growth in its mainframe and software units, but missed on revenue.
July 17 (Reuters) – IBM raised its full-year outlook
on Wednesday based on cost cutting and a strong software
International Business Machine Corp beat second-quarter
earnings estimates thanks to growth in its mainframe and
software units, but missed on revenue.
NEW YORK (Reuters) – AT&T Inc will buy Leap Wireless International Inc for $1.19 billion, paying almost double the current value of the prepaid mobile service provider as major U.S. carriers scramble to acquire valuable wireless spectrum.
The No. 2 U.S. carrier is offering $15 a share in cash – an 88 percent premium to Leap’s Friday close of $7.98 – to seal the latest of a wave of acquisitions to emerge from a telecoms sector struggling to expand network capacity, as use of bandwidth-hungry smartphones and tablets explodes.
July 12 (Reuters) – Billionaire investor Carl Icahn and
Southeastern Asset Management Inc sweetened their takeover bid
for Dell Inc on Friday, adding warrants they said would
increase the offer to a range of $15.50 to $18.00 per share from
The move is Icahn’s latest effort to block a $24.4 billion
buyout offer, of $13.65 per share, from company founder Michael
Dell and private equity firm Silver Lake.
May 23 (Reuters) – Dish Network Corp has added
Canada’s Scotiabank to the four banks it had already lined up to
finance its $25.5 billion bid for Sprint Nextel Corp,
according to two people familiar with the matter.
Reuters reported on May 15 that Dish was working with
Barclays Plc, Macquarie Group, Jefferies and
the Royal Bank of Canada to help finance around $9
billion in debt needed for the offer but that it was still
NEW YORK (Reuters) – Network equipment maker Cisco Systems Inc posted a higher than expected quarterly profit and said current quarter revenue could increase, giving some relief to investors who had worried it was being hurt by weak technology spending.
Cisco shares rose about 8 percent after Chief Executive John Chambers said the company was seeing some good signs in the U.S. and that other parts of the world are “encouraging.”
(Reuters) – EMC Corp reported slightly weaker-than-expected quarterly results as customers remained cautious about tech spending but the data storage equipment maker reiterated its full-year forecast, sending its shares up nearly 2 percent.
Analysts said investors would be relieved by the outlook, after weak results from IBM Corp and disappointing forecast by Intel Corp and Juniper Networks Inc.