Paritosh's Feed
Sep 22, 2011

Dealtalk: UTC CEO wins over Goodrich after long courtship

NEW YORK (Reuters) – Three years ago after an aborted hostile bid for teller machine maker Diebold Inc (DBD.N: Quote, Profile, Research, Stock Buzz), United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) Chief Executive Louis Chenevert pledged he would put forward a friendly face the next time.

In striking a $16.5 billion deal to acquire aircraft systems maker Goodrich Corp (GR.N: Quote, Profile, Research, Stock Buzz) on Wednesday, Chenevert made sure he got Goodrich’s Marshall Larsen on his side.

Sep 22, 2011

UTC CEO wins over Goodrich after long courtship

NEW YORK, Sept 22 (Reuters) – Three years ago after an
aborted hostile bid for teller machine maker Diebold Inc
(DBD.N: Quote, Profile, Research, Stock Buzz), United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) Chief Executive Louis
Chenevert pledged he would put forward a friendly face the next
time.

In striking a $16.5 billion deal to acquire aircraft
systems maker Goodrich Corp (GR.N: Quote, Profile, Research, Stock Buzz) on Wednesday, Chenevert made
sure he got Goodrich’s Marshall Larsen on his side.
[ID:nS1E78L0BK] [ID:nS1E78K26R]

Sep 22, 2011

United Tech to buy Goodrich for $16.5 bln

Sept 21 (Reuters) – United Technologies Corp has
reached a $16.5 billion cash deal to acquire aircraft components
maker Goodrich Corp , in what would be the diversified
U.S. manufacturer’s biggest deal in a decade.

United Tech said on Wednesday it would pay $127.50 a share
for Goodrich, a 47 percent premium over the stock’s closing
price last Thursday. It also includes $1.9 billion in assumed
debt.

Aug 31, 2011

Bankers may lose big if AT&T deal collapses

LONDON/NEW YORK, Aug 31 (Reuters) – U.S. antitrust
regulators may have dealt a body blow to an already fragile
mergers and acquisitions market with their decision to block
AT&T Inc’s (T.N: Quote, Profile, Research, Stock Buzz) $39 billion deal to buy T-Mobile USA.

For AT&T and T-Mobile’s advisers, the immediate cost if the
deal collapses would be about $150 million in fees.

Aug 30, 2011

Icahn offers to backstop a Clorox auction

NEW YORK, Aug 30 (Reuters) – Billionaire investor Carl
Icahn said on Tuesday his nominees for Clorox Co’s (CLX.N: Quote, Profile, Research, Stock Buzz)
board would try to sell the bleach maker if elected, with him
backstopping an auction with a $10.26 billion bid.

The move is the latest salvo in an intensifying battle for
Clorox, where Icahn launched a proxy fight after the board
rejected two of his buyout offers, the last one worth $10.52
billion, or $80 a share. Icahn is Clorox’s largest shareholder,
with a 9.51 percent stake.

Aug 25, 2011

Dealtalk: Barclays M&A team rises from Lehman’s ashes

NEW YORK (Reuters) – Skip McGee’s most fulfilling moment as an investment banker came in 2002, when his team at Lehman Brothers helped Williams Cos (WMB.N: Quote, Profile, Research, Stock Buzz) avert bankruptcy.

“They had this big celebration,” recalled McGee, now head of Global Investment Banking at Barclays Capital. (BARC.L: Quote, Profile, Research, Stock Buzz) “People were coming up and asking, ‘You’re from Lehman Brothers?’ And they were just giving us hugs.”

Aug 25, 2011

Barclays M&A team rises from Lehman’s ashes

NEW YORK, Aug 25 (Reuters) – Skip McGee’s most fulfilling
moment as an investment banker came in 2002, when his team at
Lehman Brothers helped Williams Cos (WMB.N: Quote, Profile, Research, Stock Buzz) avert bankruptcy.

“They had this big celebration,” recalled McGee, now head
of Global Investment Banking at Barclays Capital. (BARC.L: Quote, Profile, Research, Stock Buzz)
“People were coming up and asking, ‘You’re from Lehman
Brothers?’ And they were just giving us hugs.”

Aug 16, 2011

Berkshire, Transatlantic still in talks: source

NEW YORK (Reuters) – Berkshire Hathaway Inc’s (BRKa.N: Quote, Profile, Research, Stock Buzz) $3.25 billion offer for reinsurer Transatlantic Holdings Inc (TRH.N: Quote, Profile, Research, Stock Buzz) has expired but the two sides are still in talks over a deal, two sources familiar with the situation said on Tuesday.

The sources, speaking on condition of anonymity, said the talks were ongoing even though Berkshire Chief Executive Warren Buffett told PBS talk-show host Charlie Rose late on Monday that the offer had expired.

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).