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Aug 15, 2011

Market fears damp optimism on merger Monday

NEW YORK, Aug 15 (Reuters) – Dealmakers are worried about
market volatility and its impact on mergers and acquisitions in
the second half of the year, drawing little solace from a spate
of transactions announced on Monday.

Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) surprised the market with its largest
deal to date, a $12.5 billion acquisition of phone hardware
maker Motorola Mobility Holdings Inc (MMI.N: Quote, Profile, Research, Stock Buzz).

Aug 15, 2011

Deal talk: Market fears damp banker optimism on merger Monday

NEW YORK (Reuters) – Dealmakers are worried about market volatility and its impact on mergers and acquisitions in the second half of the year, drawing little solace from a spate of transactions announced on Monday.

Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) surprised the market with its largest deal to date, a $12.5 billion acquisition of phone hardware maker Motorola Mobility Holdings Inc (MMI.N: Quote, Profile, Research, Stock Buzz).

Aug 15, 2011

Market fears damp banker optimism on merger Monday

NEW YORK, Aug 15 (Reuters) – Dealmakers are worried about
market volatility and its impact on mergers and acquisitions in
the second half of the year, drawing little solace from a spate
of transactions announced on Monday.

Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) surprised the market with its largest
deal to date, a $12.5 billion acquisition of phone hardware
maker Motorola Mobility Holdings Inc (MMI.N: Quote, Profile, Research, Stock Buzz).

Aug 12, 2011

Transatlantic opens buyout talks with Berkshire unit

NEW YORK, Aug 12 (Reuters) – Transatlantic Holdings Inc
(TRH.N: Quote, Profile, Research, Stock Buzz) opened talks with a unit of Warren Buffett’s Berkshire
Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) on Friday over a $3.2 billion takeover
offer, adding a new twist in the battle for the reinsurer.

The Berkshire unit, National Indemnity, entered into a
confidentiality agreement with Transatlantic, according to
Transatlantic.

Aug 12, 2011

Blackstone, TPG, others bid for Morgan Keegan

NEW YORK, Aug 12 (Reuters) – Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), TPG
[TPG.UL] and Stifel Financial Corp (SF.N: Quote, Profile, Research, Stock Buzz) are among more than
half a dozen firms that put in initial bids for Regions
Financial Corp’s (RF.N: Quote, Profile, Research, Stock Buzz) Morgan Keegan brokerage unit, sources
familiar with the situation said.

Some of these firms have paired up with other firms to bid
for the unit, which has a book value of about $1.5 billion, the
sources said. The auction is now in the second round, they
said.

Aug 10, 2011

Transatlantic bids tighten, Buffett watch still on

NEW YORK (Reuters) – The spread between two of the dueling offers for reinsurer Transatlantic Holdings (TRH.N: Quote, Profile, Research, Stock Buzz) virtually disappeared on Wednesday amid a fresh market rout, as deal-watchers waited for any sign as to what late entrant Berkshire Hathaway (BRKa.N: Quote, Profile, Research, Stock Buzz) might do next.

As of 12:20 p.m. ET, the gap between Transatlantic’s accepted offer from Allied World (AWH.N: Quote, Profile, Research, Stock Buzz) and its hostile offer from Validus Holdings (VR.N: Quote, Profile, Research, Stock Buzz) was about $70,000 in Allied’s favor. At one point, Validus’s mid-July bid was nearly $400 million better than the Allied offer, which Transatlantic accepted in June.

Aug 8, 2011

E*Trade caves in to Citadel, hires Goldman

NEW YORK/BOSTON, Aug 8 (Reuters) – Kenneth Griffin, founder
of hedge fund Citadel, is having his way at E*Trade Financial
Corp (ETFC.O: Quote, Profile, Research, Stock Buzz).

E*Trade caved in on Monday to Griffin’s demands to form a
new special committee, composed entirely of independent
directors appointed within the last three years, to review
strategic alternatives and replace Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) with
Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) as financial adviser.

Aug 7, 2011

Debt issuers brace for impact from US downgrade

NEW YORK, Aug 7 (Reuters) – A downgrade of United States’
top-tier credit rating has Wall Street scrambling to figure out
the knock-on effects for the financial system, from mortgages
to banks to markets that rely on U.S. Treasuries for
collateral.

The immediate effects of the Standard & Poor’s downgrade of
the country’s AAA credit rating late on Friday are likely to be
modest, largely because it was expected and already at least
partly discounted, experts said.

Aug 7, 2011

Wall Street braces for impact from downgrade

NEW YORK (Reuters) – A downgrade of United States’ top-tier credit rating has Wall Street scrambling to figure out the knock-on effects for the financial system, from mortgages to banks to markets that rely on U.S. Treasuries for collateral.

The immediate effects of the Standard & Poor’s downgrade of the country’s AAA credit rating late on Friday are likely to be modest, largely because it was expected and already at least partly discounted, experts said.

Aug 3, 2011

Dealtalk: Icahn playbook gets predictable, critics say

NEW YORK (Reuters) – Carl Icahn’s playbook might be too predictable.

The billionaire investor has made one of his biggest takeover bids in a decades-long career, offering to buy Clorox Co (CLX.N: Quote, Profile, Research) for $10.7 billion — and hardly anyone thinks he is serious.

Clorox flatly turned down the bid by the 75-year-old corporate raider-turned-activist as not credible and inadequate.