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Word: merger (lookup in dictionary) (lookup stats)
Dates: during 1990-1999
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...second largest long-distance carrier and a company four times the size of WorldCom. The bid demolished British Telecommunication's $18.7 billion offer for MCI just as the two phone giants were preparing to seal their transatlantic deal. It also shattered BT's plan to make the MCI merger the focus of its global strategy, a consequence that didn't much concern Ebbers. "We can realize far greater savings and synergies than BT can," he said, and punctuated the analysis with the plainspoken observation that "they just don't live here...

Author: /time Magazine | Title: BERNIE'S DEAL | 10/13/1997 | See Source »

...dilution. But WorldCom's share increased 10% last Thursday and finished trading at $37.95 a share on Friday, up $1.63 for the week. "The more we looked at the numbers, the more we were shocked at how positive [an MCI deal] was," says Sidgmore. Among other advantages, a merger would give WorldCom control of an estimated 60% of all U.S. lines to the Internet, ensuring that it would have the capacity to carry the volume of data--from E-mail to video clips--that Sidgmore sees as the key to growth in the telecommunications industry. Sidgmore and Ebbers spotted their...

Author: /time Magazine | Title: BERNIE'S DEAL | 10/13/1997 | See Source »

Markets are sweetened by Columbus Day merger madness (TIME Daily...

Author: /time Magazine | Title: Today's Headlines | 10/13/1997 | See Source »

Weill's coup not only creates a global financial supermarket, but it will also impel a consolidation in which Wall Street investment companies will either get big or get run over. The merger unites Salomon, a power in bonds and a player in investment banking, with the Travelers-owned Smith Barney brokerage, which is stronger in stocks. The Travelers umbrella also includes companies that sell life insurance, property and casualty insurance, annuities, mutual funds and credit cards. Travelers Group's stock market value of $55 billion will now dwarf such giants as Merrill Lynch ($24 billion) and the newly formed...

Author: /time Magazine | Title: SANFORD WEILL: WALL STREET'S HIGHFLYER | 10/6/1997 | See Source »

Weill naturally downplays any talk of culture wars or conflicts among his managers. And he says the risks inherent in Salomon's volatile trading operations (Salomon's traders reportedly blew $100 million recently betting the wrong way on the MCI-British Telecom merger) will look like "a little bit of a pimple" alongside the $30 billion in revenues that Travelers will have after the merger. That pimple could look even smaller if, as expected, Weill makes more acquisitions. Next up could be a commercial bank, which would add lending power to the Travelers portfolio. "I have never in my life...

Author: /time Magazine | Title: SANFORD WEILL: WALL STREET'S HIGHFLYER | 10/6/1997 | See Source »

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