Word: mergerer
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These torrents have poured in just as companies have rediscovered merger mania and thereby taken countless shares off the trading boards. The supply has shrunk further as companies have bought back bushels of their own shares. Corporate America repurchased nearly $170 billion of its equities last year. Coca-Cola, whose price rose 42% in 1996, helped the increase along by declaring its intention to swallow as many as 206 million shares of Coke, or 8.3% of the company's outstanding common stock...
...completed the ABB merger, Europe's biggest cross-border deal, in six weeks, following a key Barnevik rule: act fast, even at the risk of making mistakes. Or as the ABB "bible" he inspired puts it, "Not to take action is the only nonacceptable behavior...
Demands such as those made by American's pilots and other groups--who gave up wages and benefits in the past--can only put upward pressure on prices. And with companies such as USAir and TWA struggling mightily to maintain altitude, a big merger is possible, which would invariably reduce price competition. The net effect, everywhere you turn, is that fares are up and service is way down--and the prospects aren't good for much improvement in the future...
...merger of Warner Bros. and Turner Entertainment has unified the Looney Tunes collection, allowing the Brattle to compose a program that includes the first Bugs Bunny and Tweety and Sylvester cartoons, the first Warner cartoon to win an Oscar and several hilarious Chuck Jones shorts. The festival carefully includes all the famous Looney Tunes phrases--"What's up, Doc?" "I tawt I taw a putty tat!" and "Be vewy, vewy quiet"--but if you listen closely, the cartoons are replete with wry jokes and creative banter...
...tude for us. Maybe Purcell figures that the price was right and that with commercial banks becoming big players in the brokerage business, he had to act. Or maybe he's hedging his bets. Plenty of people believe traditional retail brokerage is headed for extinction. Plenty also think this merger won't work. Mack denies it, but he's fuming over Purcell's getting the top job. And I'd like to be there the first time a working-stiff broker from Dean Witter tells a millionaire banker from Morgan to set aside 100 shares of a hot new-stock...