Summit Notebook

China resource deals still hot

September 1, 2009

Investment bankers have been saying that there are only two
things you need to know when it comes to Asia M&As — China and

Japan eyes UK takeover rules

July 7, 2009

Japan’s takeover rules are destined to be shaken up — but probably not for some time.

How to gum up an exchange merger: salt water

May 13, 2009

It’s a puzzle M&A bankers and corporate executives have been trying to solve for years: how far from your home market can an acquisition take place and ultimately stumble over cultural differences? It’s a question that looms large as quintessentially Italian automaker Fiat prepares to swallow up Chrysler — inventor of the K-car and the minivan — and which reportedly haunts St Louis-based employees of Anheuser Busch in the aftermath of their company’s takeover by the penny pinching Belgians and Brazilians at InBev.

AUDIO – Deal making is back! (Um, maybe…)

December 16, 2008

There might not be the enthusiasm of a couple of years ago, but some deals in the defense sector might actually get done, according to Thomas Captain, head of Deloitte‘s aerospace and defense group.

AUDIO – Finding value in tough times

December 16, 2008

Executives at this year’s Reuters Aerospace and Defense Summit almost uniformely said that finding critical, and rather immediate, value in mergers and acquisitions was especially important now in a climate of less money available for financing.

Pharma mega mergers? Just a sugar rush

November 19, 2008
Big pharma mega mergers are no way to escape looming loss of exclusivity on key drugs and pressure on prices. In fact, they’re the last refuge of CEOs running out of ideas, reckons Bayer HealthCare’s chief Arthur Higgins.   “I think the tendency is, when you’re short of ideas, to go for a quick fix. It’s a little like myself and a sugar rush. I feel good for about 10 minutes, then I wish I’d never taken the sugar,” Higgins told the Reuters Health Summit. “I can’t see any logic in combining two poorly performing businesses when at the heart what keeps it sustainable is innovation. And there’s no relationship between scale and innovation.“   What’s more, the financial crisis threatens a long-held adage about the drug industry — its defensive status in a downturn — and while prices for acquisition targets may be plummeting, that does not necessarily mean the deal adds up to value.   “Traditionally healthcare has been somewhat cushioned in these economic times, but nobody knows the future any more. We all listen to the television, we all meet with experts, but this is completely outside people’s experience,” Higgins said. “I don’t think any company at the moment is looking at major acquisitions. I think we’re all going to take a pause and step back and look at the economic outlook in 2009.”  

Silicon Valley execs self-absorbed (and thats not all bad)

May 21, 2008

With the white noise of MicroHoo ringing in everyone ears, we asked Adobe SystemsShantanu Narayen, president and chief executive officer of Adobe Systems Inc., speaks during the Reuters Global Technology, Media and Telecom Summit in New York CEO Shantanu Narayen why he thinks “royal weddings” — idylic mergers between multi-billion dollar companies — in Silicon Valley are few and far between.

Grand Theft Audio 4 seen as “work of art”, EA says

May 19, 2008

florin.jpgThe spectacular debut this month of Take Two’s blockbuster video game Grand Theft Auto was no better than expected, EA’s head of international publishing, Gerhard Florin, told the Reuters Technology, Media and Telecoms summit in Paris.