Word: buyouts
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...Gore, take another bow. Hollywood is not the only place concerned about global warming. Now Wall Street is worried too. On Feb. 25, the Texas utility TXU Corp. agreed to a proposed $45 billion buyout--the biggest deal ever to take a public company private--with major environmental initiatives attached...
...Given the success of Charterhouse's buyout, there's speculation that Saga may soon go public. The company declines to discuss whether an IPO is in the works, but, according to one insurance industry analyst at a London investment bank, investors would likely welcome a flotation because of Saga's strong brand and impressive track record. And given that nearly half the U.K.'s adult population will be 50 or older by 2020, it's not about to run out of potential customers anytime soon...
...driving Perot away. Said Bernard Addo, an auto analyst for Manhattan's Argus Research: Perot may have been a skillful entrepreneur, but entrepreneurship and team management are two different things. Perot was hurting GM's stock by publicly bashing the company's management." Other observers were appalled at the buyout. GM officials got rid of Perot, contended Mary Anne Devanna, director of research at the Columbia Business School Management Institute, "to protect their own hides. Their careers, big bonuses and fancy perks all depend on maintaining the status quo. GM is in trouble, and sooner or later it will have...
...Ford employees who agreed this year to retire early or take a buyout in restructuring effort by the company, which does not expect to be profitable until...
...France Agency, a government-backed investment-promotion group. China wasn't far behind with 114 deals over the same period. And last week, a Brazilian steel group?Companhia Sider?rgica Nacional?challenged Tata Steel's bid for Corus by making a preliminary $8.5 billion offer, 4.4% more than Tata's buyout proposal. Says Rajat Gupta, former global managing director of McKinsey & Company and the first Indian-born CEO of a large U.S. multinational: "It's a gathering trend, but to say that we are somehow uniquely terrific at globalizing, I don't think the evidence supports that. There is no track...