Word: mergerism
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Glory of France Can France keep its businesses French? The government's attempt to create a national champion by engineering a 346 billion merger between drug firms Sanofi-Synthélabo and Aventis could end up backfiring. Hostile takeovers are rare and frowned upon in France, so Sanofi CEO Jean-François Dehecq's unsolicited offer for Franco-German Aventis last week raised eyebrows. Except in government: Finance Minister Francis Mer openly endorses the takeover, while a source close to the deal says President Jacques Chirac, an old friend of Dehecq's, personally called Liliane Bettencourt, the biggest shareholder...
...final act of redemption. But as recently as last summer, Dimon was dismissing this theory as nonsense. "Whoever says that I have something to prove doesn't know me that well," the fast-talking New Yorker told TIME. Last week, even after announcing Bank One's $58 billion merger with New York City--based J.P. Morgan Chase, Dimon was sticking to his lines. "It is all psychobabble," he said late last week. "I didn't need to come back to New York...
...next decade, as the stakes and Dimon's profile got bigger, those good-natured shouting matches between Weill and Dimon became more ill-tempered. It didn't help matters that Weill's daughter left the company after run-ins with Dimon. By the time of the April 1998 merger between Travelers and Citicorp, Weill had become openly critical of Dimon, who suddenly found himself without a seat on the new board. He left after just seven months, joining Bank One in March 2000. With his hard-nosed approach, Dimon instilled a much needed sense of urgency and accountability as soon...
Certainly there's no guarantee that the merger will succeed. The vast majority of big-bank combinations have failed to deliver on their promise, largely as a result of a clash of cultures and loss of focus, and the new J.P. Morgan Chase will still lack the global reach and insurance breadth of Citigroup (the former might also want to acquire a retail brokerage). But as much as anything else, investors are banking on Dimon's stubborn pride to make sure this one will be different. Weill and Dimon may have patched things up at a personal level--indeed, Weill...
Dimon's Big Deal Prodigal son Jamie Dimon returns to Wall Street with the surprise $58 billion merger of Bank One and J.P. Morgan Chase...