Unstructured Finance

M&A wrap: Buffett trades off his reputation

August 26, 2011

Warren Buffett showed again that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that deals such as the $5 billion investment in Bank of America can immediately generate profits.

M & A wrap: A Buffett bailout for BofA

August 25, 2011

Warren Buffett’s Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis.

Deals wrap: Buffett makes a bid for Transatlantic Holdings

August 8, 2011

Shares in reinsurer Transatlantic Holdings rose more than 8 percent on Monday despite broad and deep market declines, after Warren Buffett’s Berkshire Hathaway made an unsolicited offer over the weekend to buy the company. The NYT looks at the chances of the deal getting done.

Deals wrap: Poised to go hostile

April 29, 2011

Nasdaq OMX and IntercontinentalExchange are poised to go hostile in their bid for NYSE Euronext after shareholders ratcheted up pressure on the Big Board parent to get a better deal.

Deals wrap: Barrick strikes deal for Equinox

April 25, 2011

Barrick Gold said it will acquire Australia’s Equinox Minerals for more than C$7 billion ($7.36 billion), topping an offer by China’s Minmetals Resources. Barrick said it has committed cash and financing in place for the transaction.

Deals wrap: Singapore Exchange’s ASX bid in trouble

April 5, 2011

Singapore Exchange (SGX) Chief Executive Officer Magnus Bocker (R) talks as Australia's ASX Ltd Managing Director and CEO Robert Elstone listens during a media briefing in central Sydney October 25, 2010. REUTERS/Daniel Munoz Consolidation in the Asian exchanges industry hit a roadblock on Tuesday when Australia said it intends to reject Singapore Exchange’s proposed $7.8 billion bid for Australia’s ASX on “national interest” grounds.

Deals wrap: Nasdaq triumphant?

April 1, 2011

Trading specialists glance at each other as they prepare to leave the floor of the New York Stock Exchange, March 26, 2009.  REUTERS/Chip East Nasdaq OMX and IntercontinentalExchange unveiled a rival bid to buy NYSE Euronext for about $11.3 billion in cash and stock, a 19 percent premium to the offer made by German competitor Deutsche Boerse. The move could raise new antitrust questions as it would combine the two largest U.S. stock exchanges. The new offer is valued at $42.50 per share, Nasdaq and IntercontinentalExchange said. The offer represents a 19 percent premium to NYSE’s closing price on Thursday and is 27 percent above the company’s valuation before Deutsche Boerse’s $10.2 billion bid in February. Analysts were skeptical about whether Deutsche Boerse would launch a counterbid.

Deals wrap: Buffett pulls the trigger

March 14, 2011

Warren E. Buffett, Chairman and Chief Executive Officer of Berkshire Hathaway, testifies before the Financial Crisis Inquiry Commission during a public hearing in New York in this June 2, 2010 file photo. Reuters/Shannon StapletonWarren Buffett’s Berkshire Hathaway struck a deal to buy lubricants maker Lubrizol for $9 billion in cash to tap rising demand for chemicals used to operate engines and machinery. Shira Ovide of the Wall Street Journal takes a spin through Lubrizol’s fundamentals and businesses.

Deals wrap: Warren Buffett’s zoo

March 2, 2011

An elephant sprays earth in the Tsavo East National Park, 280 km (173 miles) east of Kenya's capital Nairobi February 10, 2011. REUTERS/Noor KhamisElephants. Zebras. Berkshire Hathaway CEO Warren Buffett rolled out the animal metaphors in an interview on CNBC on Wednesday to explain that his company remains on the prowl for big acquisitions, which he calls “elephants”.

Deals wrap: Consolidation wave to grow for exchanges

March 1, 2011

Professional surfer Kelly Slater (L) catches a 40 foot wave beside Grant Baker during the Eddie Aikau Big Wave Invitational surf contest at Waimea Bay on the North Shore of Oahu in Haleiwa, Hawaii December 8, 2009. REUTERS/Hugh Gentry “The mergers of exchanges have only just begun as growing competition and even new regulation drive them closer together, irrespective of national borders,” write correspondents Luke Jeffs and Rachelle Younglai from the Reuters Future Face of Finance Summit.