Word: merger
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Turner needs more than just a brash concept. The merger he is proposing will be far tougher to arrange than last month's $3.5 billion take-over of ABC by Capital Cities Communications. In that deal, the vulnerable ABC willingly agreed to merge with the smaller firm in order to protect itself from undesirable suitors. But CBS is financially brawny and ready for a fight...
...this business," Schmidt says. "Once your image is badly damaged, you can come up with the most wonderful car and people still won't buy it." The Daimler people are hoping that won't happen to them. The troubles at Daimler follow years of restructuring after the 1998 merger of Daimler and Chrysler, and persistent quality problems at the Japanese commercial-vehicle subsidiary, Mitsubishi Fuso Truck & Bus Corp. But quality is what the Mercedes brand is especially known for, and that's the area where the firm is hurting itself most. Customer complaints prompted the record recall, and even German...
...appointed Eckhard Cordes, his point man on the 1998 merger with Chrysler, as CEO of Mercedes with clear orders to clean things up fast. And there was good news on other fronts. Schrempp said he expects the Smart division to break even in 2007 and that, despite the huge restructuring charge, Daimler's 2005 operating earnings will still top the j5.8 billion it earned in 2004. Some Daimler divisions have proven it's possible to turn the corner, as have other carmakers. Overall, conditions are tough, though. The industry is plagued by overcapacity and price wars. PriceWaterhouse- Coopers estimates that...
...Make a Deal With merger mania back in fashion, deals are sprouting across Europe this spring. Globally, companies and investors struck deals totaling $589 billion in the first quarter, $91 billion more than a year ago, says Thomson Financial, which calculates that the level of activity in the past six months is the highest since 2000. What's propelling the merger boom? The rise of private equity investment groups, including U.S.-based Carlyle Group, which announced last week that it has raised about $2.2 billion to spend on European acquisitions. Such firms accounted for more than 10% of European deals...
...contribution follows Beth Israel’s financial turn-around last year, when the hospital announced a profit margin for the first time since the initial merger between Beth Israel Hospital and the New England Deaconess Medical Center...