mergers and acquisitions

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T-Mobile Parent Mulling Bid for Sprint Nextel

Deutsche Telekom continues looking outside Germany for growth

(Newser) - T-Mobile parent Deutsche Telekom may bid for troubled Sprint-Nextel, a deal that would move the German telecom to the top of the US mobile communications heap, ahead of AT&T and Verizon, reports the Wall Street Journal. DT increasingly has looked to global options to help fuel earnings hurt by...

Microsoft Boosts Offer, Launches Talks With Yahoo

Increase of 'several dollars' seen

(Newser) - Microsoft and Yahoo are holding active merger talks, with Microsoft willing to increase its offer “by several dollars,” sources tell the New York Times. The negotiations come as a major breakthrough after months of stalemate; Yahoo shareholders have been fielding calls from both sides seeking to arrive at...

Arby's Purchase of Wendy's 'Sad Day' for Thomas Family

Columbus despairs as layoffs loom

(Newser) - After years of haggling, Arby’s owner Nelson Peltz reached a deal to acquire Wendy’s yesterday, ending the involvement of the Thomas family that founded it. Wendy Thomas herself called the sale a “huge, huge disappointment,” the Columbus Dispatch reports. The family had hoped local franchisee J....

Air France-KLM Pulls Offer for Alitalia

Berlusconi scrambles as bankruptcy looms for Italian carrier

(Newser) - Air France-KLM has withdrawn its offer to buy Alitalia, leaving the cash-poor Italian carrier with few options. In a tersely worded statement, the world's largest airline said its Alitalia overture—which had been opposed by Alitalia's unions—was "no longer valid." With no suitors forthcoming and cash reserves...

Cisco Develops a Lighter Touch in Acquisitions

Tech giant develops new strategy for new era in takeovers

(Newser) - Cisco, once famous for swallowing small companies whole and digesting them without leaving a trace of their former brand names (or management), is forging a new acquisition strategy. As it targets new, Internet-based technologies that it’s less familiar with, the company has developed a lighter touch, as evidenced by...

Yahoo Merger Could Level Online Ad Market

But Google team-up would shrink advertisers' options

(Newser) - Winds of a Yahoo-Microsoft merger have sparked a “nuclear war” in the online-advertising world—and the Google-dominated market could soon see major changes, the Wall Street Journal reports. “Nothing short of a new world order in this space is up for grabs,” says an expert. As Yahoo...

Yahoo Board Meets as Buyout Options Grow

Microsoft likeliest buyer but battle heats up

(Newser) - Yahoo's board meets today to examine the options for avoiding a hostile takeover by Microsoft, the Wall Street Journal reports. Experts think a Microsoft grab is still the most likely scenario, but the situation has grown increasingly complicated in the midst of discussions of an AOL-Yahoo merger, Yahoo's proposed trial...

Discover Gobbles Up Diners Club
Discover Gobbles Up Diners Club
Apr 8, 2008 3:10 AM CDT

Discover Gobbles Up Diners Club

Firm moves into international credit card market with $165M deal

(Newser) - Discover Financial Services is moving into the global credit card market with its acquisition of Diners Club International from Citigroup, Bloomberg reports. The $165 million deal gives Discover a foothold in the 185 countries outside North America where Diners has a presence, which will add revenue at a time when...

Microsoft Threatens Hostile Takeover of Yahoo

Corporation promises proxy battle, threatens lower buyout price

(Newser) - Yahoo has 3 weeks to accept Microsoft’s takeover before things get hostile, Microsoft warned in a letter to Yahoo execs today. “The substantial premium reflected in our initial proposal anticipated a friendly transaction,” wrote Microsoft CEO Steve Ballmer, who promised a proxy director battle and implied a...

Microsoft and Yahoo: Second Date, Still No Kiss

The two sides meet again, but neither will budge

(Newser) - Microsoft and Yahoo execs met again this week, but the software maker refused to raise its takeover offer and the two sides failed to make progress toward an agreement. Yahoo won’t enter formal negotiations unless Microsoft increases its Jan. 31 cash-and-stock bid, then worth $44.6 billion and now...

Sinking Market Forces New Venture-Capital Strategies

Analysts don't see money drying up, just more scrutiny on where it's spent

(Newser) - Venture capitalists are watching economic indicators carefully, trying to find safer places to put their mountains of money, CNET reports. The stats on first-quarter VC activity will land soon, and though experts don't expect dollar totals to have waned, players are “under pressure to invest in quality companies that...

Microsoft Standing Pat on Yahoo Bid
Microsoft Standing Pat
on Yahoo Bid
Apr 1, 2008 12:14 PM CDT

Microsoft Standing Pat on Yahoo Bid

Sans other suitors, Microsoft feels no pressure to up its $44B

(Newser) - Microsoft is standing pat on its $44.6 billion offer for Yahoo, with no intention of upping its ante, reports the Wall Street Journal. The software maker’s Jan. 31 bid—worth $31 per share—was rejected by Yahoo as undervalued. Since then, pundits have waited for Microsoft to raise...

Chinese Law Muddles Microsoft Bid for Yahoo

New anti-trust regs could require review

(Newser) - A new anti-monopoly law in China could interfere with Microsoft’s bid for Yahoo, the New York Times reports. Because Yahoo owns 40% of Alibaba, China’s biggest e-commerce business, Beijing could demand approval of the deal along with the US and the EU. “I don’t think anyone...

Clear Channel, Buyers Sue Banks Over Soured Deal

Equity firms claim lenders backtracked on financing takeover of broadcast giant

(Newser) - The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by...

Microsoft Likely to Raise Yahoo Bid: Analyst

Stock upgraded to a buy after $34-per-share offer predicted

(Newser) - A Citigroup analyst upgraded Yahoo stock to a buy today, predicting that Microsoft will raise its buyout bid from $31 per share to $34, MarketWatch reports. Acquiring Yahoo is the only way for Microsoft to successfully compete with Google for online advertising, said analyst Mark Mahaney, and so “the...

Satellite Merger Clears Hurdle
 Satellite Merger Clears Hurdle 
Mar 24, 2008 3:32 PM CDT

Satellite Merger Clears Hurdle

Justice Dept. doesn't see threat to competition; FCC must still weigh in

(Newser) - The Justice Department today approved the proposed merger between satellite radio firms Sirius and XM, the Wall Street Journal reports. The FCC must still sign off, but the pair appears to have allayed antitrust concerns about the merger of the industry's two largest companies by arguing that they face competition...

Cash-Strapped Borders Considering Selling Itself

Parts, or all, of bookseller on table, it secures $42.5M loan to keep going

(Newser) - Bookseller Borders is considering selling itself or some of its divisions, the Detroit Free Press reports today. The company, based in Ann Arbor, Mich., is in the midst of a turnaround, but is desperately short on cash, today borrowing $42.5 million from its biggest shareholder, Perishing Square Capital Management....

How Yahoo Would Improve Microsoft

(Newser) - Yahoo today restated its opinion that Microsoft’s $44.6 billion buyout bid underestimates the online giant’s “combination of unique assets,” but for the first time stated publicly the strengths it would bring to the Microsoft merger, MarketWatch reports. In an investor presentation for the SEC, the...

Delta Will Slash 2K Jobs
 Delta Will Slash 2K Jobs  
Mar 18, 2008 2:02 PM CDT

Delta Will Slash 2K Jobs

Firm will offer voluntary severance to 30,000 employees

(Newser) - Battered by skyrocketing fuel prices, Delta Air Lines will eliminate 2,000 jobs to cut costs, the Atlanta Journal-Constitution reports. With oil prices driving the airline’s fuel expenditures $900 million higher than expected, the carrier will offer buyouts to some 30,000 employees, aiming to cut 1,300 flight...

Deutsche Telekom to Buy Greek Stake
Deutsche Telekom to Buy Greek Stake
Mar 17, 2008 1:03 PM CDT

Deutsche Telekom to Buy Greek Stake

Deal for 20% of Greek phone co. conditional on management control

(Newser) - Deutsche Telekom plans to buy a 20% stake in Hellenic Telecommunications Organization (OTE) of Greece, for $3.92 billion. The deal is conditional on the German carrier getting management control, and the company will open talks immediately with the Greek government, the only larger shareholder. The OTE stake will let...

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