All Articles Tagged "merger"
Justice Dept. Sues to Stop AT&T and T-Mobile Merger
(Wall Street Journal) — The Justice Department on Wednesday sued to block AT&T Inc.’s proposed $39 billion takeover of T-Mobile USA, a surprisingly swift move that dealt a blow to AT&T’s ambition to build the largest U.S. cellphone carrier. The government said the combination of the second- and fourth-largest cellphone companies in the U.S. would harm competition and likely raise prices for consumers. The antitrust challenge came just five months after the deal was announced, catching AT&T off guard. The Dallas-based communications giant vowed to fight to preserve its prize deal, setting up one of the most significant antitrust court battles in recent years. The lawsuit is the Obama administration’s boldest antitrust challenge to date and the latest evidence of its intention to reinvigorate enforcement after what it says was a lull during the previous administration.
Bank of America: A Buying Opportunity
(Smart Money) — WALL STREET HAS COOLED lately on Bank of America, and one reason is that CEO Brian Moynihan doesn’t think the company should chase higher profits with $35 overdraft fees on debit-card customers with insufficient funds to buy $4 lattes at Starbucks.
AIG Tries to Save AIA Deal; Thiam Seeks to Cut Price
(Bloomberg) — American International Group Inc., the bailed-out insurer, remains in negotiations to salvage the sale of its main Asia unit after Prudential Plc requested a lower price to win shareholders’ approval. Prudential asked that the $35.5 billion price for AIA Group Ltd. be cut to about $29 billion to $30 billion, and New York- based AIG is seeking at least $32 billion, said a person with knowledge of the talks who declined to be identified because they are private. The Sunday Times reported that Prudential won backing for the deal from investors provided it can cut the price by more than 10 percent.
AIG Tries to Save AIA Deal; Thiam Seeks to Cut Price
(Bloomberg) — American International Group Inc., the bailed-out insurer, remains in negotiations to salvage the sale of its main Asia unit after Prudential Plc requested a lower price to win shareholders’ approval. Prudential asked that the $35.5 billion price for AIA Group Ltd. be cut to about $29 billion to $30 billion, and New York- based AIG is seeking at least $32 billion, said a person with knowledge of the talks who declined to be identified because they are private. The Sunday Times reported that Prudential won backing for the deal from investors provided it can cut the price by more than 10 percent.
Forbes Plans Makeover for Blog Network True/Slant
(DailyFinance.com) — True/Slant, the blogging platform for journalists and other experts, is in for a major overhaul under its new owner, Forbes Media. Lewis Dvorkin, founder of the former and newly appointed chief product officer of the latter, previewed some of the changes in store during a Wednesday morning conference call with True/Slant contributors. (There are 300 or so, including me.)
Forbes Plans Makeover for Blog Network True/Slant
(DailyFinance.com) — True/Slant, the blogging platform for journalists and other experts, is in for a major overhaul under its new owner, Forbes Media. Lewis Dvorkin, founder of the former and newly appointed chief product officer of the latter, previewed some of the changes in store during a Wednesday morning conference call with True/Slant contributors. (There are 300 or so, including me.)
Prudential Delays Its Share Sale
(NYTimes.com) — Prudential, the British insurer aiming to buy the Asian life insurance business of American International Group, postponed the start of its rights issue Wednesday because Britain’s financial regulator needed more time to test the capital ratios of the combined group.
Why The FTC Should Allow The Google-AdMob Merger
(paidContent) — The Federal Trade Commission is expected to make a decision as early as this week on whether to allow Google’s $750 million acquisition of AdMob, a source told mocoNews. And, according to All Things D, the two companies expect the FTC to block the acquisition because of antitrust concerns. The reasoning doesn’t seem to have anything to do with what will happen to the mobile ad-serving business as a result of the purchase—rather it’s a way for the government to show its concern for Google’s dominance in search on the web.
United Is in Talks About a Merger With US Airways
(NYTimes.com) – United Airlines and US Airways are in merger talks that, if successful, would create the nation’s second-biggest airline. It is the third time in a decade that they have tried to make a deal.
The negotiations represent the latest efforts to consolidate the struggling airline industry, which lost $60 billion over the last decade as fuel costs soared and the number of travelers fell. Both companies have been vocal in calling for greater partnerships.
