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BUSINESS
September 16, 1991 | From Associated Press
S. G. Warburg, a government bond dealer tangled in the Salomon Bros. Inc. bidding scandal, said Sunday that it never alerted regulators to an improper bid because a Salomon executive blamed it on a clerical error. Warburg said Salomon's government bond chief, Paul Mozer, persuaded the firm that the bid was an honest mistake and asked Warburg to allow Salomon to work it out with Treasury officials. Warburg officials met with U.S.
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BUSINESS
September 16, 1991 | From Associated Press
S. G. Warburg, a government bond dealer tangled in the Salomon Bros. Inc. bidding scandal, said Sunday that it never alerted regulators to an improper bid because a Salomon executive blamed it on a clerical error. Warburg said Salomon's government bond chief, Paul Mozer, persuaded the firm that the bid was an honest mistake and asked Warburg to allow Salomon to work it out with Treasury officials. Warburg officials met with U.S.
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BUSINESS
January 24, 1996 | From Bloomberg Business News
Granada Group won its $5.9-billion hostile takeover battle for Forte and will soon be putting on the world's largest hotel sale. Granada will put more than half of Forte's up-market assets up for grabs in a $3.15-billion sale. Included will be the Meridien and Exclusive chains and Forte's roadside service stations, Granada Chief Executive Gerry Robinson said. Granada will also implement a $150-million cost-cutting program, he said. Granada said Tuesday that it controls 66.
BUSINESS
January 24, 1996 | From Bloomberg Business News
Granada Group won its $5.9-billion hostile takeover battle for Forte and will soon be putting on the world's largest hotel sale. Granada will put more than half of Forte's up-market assets up for grabs in a $3.15-billion sale. Included will be the Meridien and Exclusive chains and Forte's roadside service stations, Granada Chief Executive Gerry Robinson said. Granada will also implement a $150-million cost-cutting program, he said. Granada said Tuesday that it controls 66.
BUSINESS
December 16, 1994 | From Reuters
A deal that would have created the world's largest investment bank collapsed Thursday when U.S. investment house Morgan Stanley Group Inc. and its British counterpart S.G. Warburg Group called off merger talks. But analysts said the main sticking point in the $7.8-billion deal--how Warburg's 75%-owned Mercury Asset Management Group would be treated--could be overcome. "Remember, the two companies we're talking about here are world leaders in (mergers and acquisitions).
BUSINESS
May 4, 1995 | From Bloomberg Business News
S.G. Warburg Group said fiscal 1995 profit at its investment bank will fall well below forecasts, raising questions about the value of the business one day after Swiss Bank Corp. said it wants to buy it. Warburg shares fell 3% from their highs for the day on the London Stock Exchange, closing down 11.2 cents at $13.02. Analysts had been expecting Warburg's investment bank, Britain's largest securities firm, to break even for the year.
BUSINESS
December 7, 2001 | Reuters
Merrill Lynch & Co. settled a high-profile lawsuit that claimed the Wall Street firm's British investment unit mismanaged a large pension fund, potentially leading to a flurry of similar cases. Merrill, which admitted no liability, settled a $185-million negligence suit filed by Unilever's pension fund for an undisclosed amount that could be as much as $100 million, according to reports.
BUSINESS
January 20, 1999 | From Bloomberg News
Charles Schwab Corp., Merrill Lynch & Co., Bear Stearns & Co. and PaineWebber Group Inc. reported quarterly profits that beat estimates, as gains in commissions and asset management offset declines in trading and investment banking. A surging stock market spurred investors to buy and sell equities, boosting trading and the commissions that brokerages earn. It also drew new money into mutual funds. Schwab was the only brokerage of the four to report a profit increase.
BUSINESS
February 16, 1999 | From Bloomberg News
Credit Suisse Group, Europe's fourth-largest bank, agreed to buy U.S.-based Warburg Pincus Asset Management Inc. for $650 million to expand in the world's biggest financial-services market. The acquisition of the asset-management arm of Warburg, Pincus & Co., expected to be completed by midyear, will boost Credit Suisse's assets under management by more than $22 billion to $680 billion, the bank said. The two companies had already been cooperating in other businesses.
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