March 1, 2012 |
With more cash on hand than ever as well as low interest rates, companies are likely to boost their merger and acquisition activity this year, according to a new report. Of the 825 executives surveyed by audit and tax advisory firm KPMG and the research arm of the University of Pennsylvania's Wharton School, Knowledge@Wharton, 34% said they're feeling more optimistic about deal-making this year. About four in 10 feel the same as they did last year; only 2% are significantly less hopeful.
May 18, 2011 |
Jim Freedman and his partners have been here before. "We call this Act Three," he told me one day recently from the Westside high-rise office of Intrepid Investment Bankers, his new firm devoted to mergers and acquisitions in the regional middle market (think companies with $20 million to $200 million in sales). The first act was Barrington Associates, which Freedman, 58, started in 1982, four years after obtaining his MBA from UCLA's Anderson School of Management. Barrington addressed the same middle market, which was then served by a clutch of small local investment banks filling the vacuum left by big national institutions with expensive overhead, firms whose radar screens didn't aim that low. FOR THE RECORD: In an earlier online version of this article, the subheadline erred in stating that clients of Barrington Associates had been left in the lurch after the firm's 2006 acquisition by Wells Fargo.
April 7, 2011 |
With confidential information plundered from some of New York's most prestigious law firms, a corporate finance attorney, a Wall Street trader and a "middleman" bought hundreds of thousands of shares in companies about to be acquired, selling them when the deals were done to net millions of dollars in instant profit, federal officials allege. After each haul — totaling at least $32 million over nearly 17 years, according to federal investigators — the men met in Atlantic City casinos, where they believed they could share their large cash spoils without attracting attention.
April 7, 2010 |
Goldman Sachs Group Inc.'s public relations problems don't seem to be hurting its ability to do business. In the first quarter of this year, as its image woes intensified, the firm had more success than any other investment bank in attracting clients, data tracker Dealogic reported Tuesday. Goldman was the most popular bank for advising clients involved in mergers and acquisitions -- up from No. 3 last year, Dealogic said. The bank came in second in the rankings of firms in the capital markets sector, which includes underwriting stock offerings.
March 19, 2009 |
Coca-Cola Co.'s $2.4-billion bid to buy China Huiyuan Juice Group, rejected Wednesday by the Chinese government, is the biggest of a growing number of failed mergers and acquisitions in Asia. Analysts say the decision could hurt efforts by Chinese companies -- both state-owned firms and private ones -- to buy companies and assets around the globe.
January 3, 2009 |
What a difference a year makes. With the virtual collapse of credit markets and the drying up of money from private equity firms, 2008 turned out to be a very slow year for mergers and acquisitions. Globally, there were 37,445 deals, totaling $3.3 trillion, down 29% from record volume in 2007, according to Dealogic, a data research firm in New York. In the United States the value of deals dropped 29% to $1.1 trillion.