Word: antitrust
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What astonishes me is that Ted Turner and Boone Pickens and their ilk got free rein to pursue their nonproductive activities, while the antitrust zealots hounded American Telephone & Telegraph and broke up the best telephone system in the world. Emily Exner Chi Chapel Hill, N.C. Deficit Cure...
Under the tolerant gaze of the Reagan Administration, giant U.S. companies have been merging at an unprecedented rate. Now the White House wants to make it still easier for firms to consolidate. Officials last week unveiled a sweeping plan to overhaul antitrust laws that have held sway since the early part of the 20th century. "The Reagan crew is obviously determined to leave its mark on business policy," said James Maher, managing director of mergers and acquisitions at the First Boston investment-banking firm. "These ideas, if enacted, will fuel more fires in merger activity...
...German electronics manufacturer Siemens was officially told it couldn't acquire a majority stake in a Russian company that manufactures some defense-related equipment. Siemens had offered $200 million to $300 million for a 73% stake in the firm, Power Machines, but the deal was blocked by Russia's antitrust authority, reportedly for national-security reasons. The firm's owners said this month that they are negotiating to sell a majority stake to the Russian government instead. "Success automatically makes you a target," says Mikhail Kozhokin, vice president of KROS, a major Russian consulting and promotional firm. "Once your business...
...electronics manufacturer Siemens was officially told it couldn't acquire a majority stake in a Russian company that manufactures some defense-related equipment. Siemens had offered between $200 million and $300 million for a 73% stake in the firm, Power Machines, but the deal was blocked by Russia's antitrust authority, reportedly for national security reasons. "Success automatically makes you a target," says Mikhail Kozhokin, vice president of KROS, a major Russian consulting and promotional firm. "Once your business becomes a success, you'll have to spend 70% of your time defending rather than developing...
...very, very large," says Shumway. "Mergers that you know couldn't have been approved several years ago are now being approved because I think the Government has realized that if you're going to compete with some of these foreign Goliaths, you can't have such a rigid antitrust law that no one can grow by acquisition...