Word: mergerism
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...This hostile bid by Mittal Steel calls for a reaction that is at least as hostile." Dollé worked hard to encourage public opposition, dismissing Mittal as a low-grade operator specializing "in buying up obsolete installations at low cost." Mittal himself insists that the deal amounts to the merger of two European companies to create a stronger one. "The rationale for merging is very strong," he says...
Exactly what happened next is a matter of dispute. Dollé says he gave a noncommittal reply, and the two moved on to dinner and other business, leaving discussion about a possible merger open. "I said neither yes nor no," he recalled last week. "I just said 75% to 80% of mergers fail because of cultural differences." For his part, Mittal says Dollé immediately ruled out a deal. "He gave several reasons why he wasn't interested," he told Time. "I told him I'd get in touch again, and called a few days later to say there...
...Sideswiped by Livedoor's crash, shares in other merger-hungry firms like Rakuten, Softbank and Yahoo! Japan are still down between 9% and 15%, even though nobody has suggested they did anything illegal. But with the broader Nikkei 225 stock index almost fully recovered from the scandal, there's a sense that the speculative euphoria in Japan is still alive and frothing. After the previous decade of disappointing financial returns in Japan, no one-not the bankers, the investors or even the regulators-has much inclination to believe that Livedoor is anything but an isolated case, or much motivation...
Dissident shareholder Carl C. Icahn retained Lazard on Nov. 29, 2005 as part of his battle to split up the media conglomerate, which was formed by a merger of America Online and Time Warner in January...
...against. When asked if Clark was one of his targets, Icahn initially said that all the directors were at fault for Time Warner’s performance, but later backtracked and pointed out that Clark was not a member of the board that approved what he deemed the disastrous merger between Time Warner and America Online...