Word: mergerer
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...casinos stems as much from regulatory reform abroad as from limited growth opportunity in the States. Indeed, after MGM Mirage announced plans last month to build a casino in Macau, Merrill Lynch predicted that the development would add five times more value to the company than its proposed mega-merger with the Strip-centric Mandalay Bay. So far, Vegas casino operators are placing their biggest bets on China, where an age-old penchant for gambling is dovetailing with the world's fastest-growing economy. Millionaires are being minted every day in China, and the World Trade Organization predicts the country...
...trees to dinner portions, the Japanese are famous for doing things small. But in sumo wrestling and banking, gigantism is the order of the day. At a press conference last week, officials at UFJ Holdings and Mitsubishi Tokyo Financial Group (MTFG) announced they had agreed to begin negotiating a merger that could create the world's largest bank, a monster with $1.75 trillion in assets, overshadowing Japan's Mizuho Holdings and U.S.-based Citigroup, both with approximately $1.3 trillion in assets as of March...
...deal, if approved by regulators and shareholders, could create a bank with the size and the diversity of products to be Japan's first globally competitive financial institution. But it would not be a merger of equals. While most large Japanese banks have cleaned up their balance sheets and are profitable once more, UFJ, the country's fourth largest bank, remains beset by bad loans. After recently reporting its third straight year of losses, it may have to merge or eventually face a government-run restructuring. Critics of the proposed deal are worried that MTFG (arguably Japan's healthiest bank...
...Sound Decision? E.U. antitrust regulators seem ready to approve the merger of Japan 's Sony Music with German label BMG, forming the world's biggest recorded-music firm...
Reports of sniping between Karmazin and Redstone began surfacing almost immediately after the media titans joined forces with the merger of CBS and Viacom in 2000. Even Karmazin's new contract, signed just last year, didn't put an end to constant rumors of feuding. But in contrast to Redstone's creative leanings, Karmazin's focus was on running a lean operation, and by last month Karmazin had evidently tired of Redstone's upstaging him. Karmazin denies any material conflicts and says he resigned because "there was too much about Mel and Sumner, and I didn't think it would...