Word: mergers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
With banks struggling under falling profits and bad loans, the industry is succumbing to financial Darwinism. Banks are seeking safety in numbers. In what could be the largest merger in U.S. banking history, NCNB, based in Charlotte, N.C., offered last week to buy Atlanta's C&S/Sovran Financial in a stock swap valued at $4 billion. The deal would create a so-called super- regional institution with total assets of $116 billion, second in size only to Citicorp among U.S. banks...
NCNB, which acquired First RepublicBank of Texas in 1988, has long coveted C&S/Sovran. The proposed merger came only three days after Winston-Salem's Wachovia Corp. agreed to buy troubled South Carolina National for $800 million. The deals probably foreshadow a new wave of acquisitions, even among such big banks as Chemical, Chase Manhattan, Wells Fargo and Security Pacific. Says analyst James McDermott: "The industry is poised for a massive round of consolidations...
Time Warner's objective is to pare away some of the $11 billion in debt -- $3 billion of which must be paid off or refinanced in 1993 -- that was incurred in the merger 18 months ago of Time Inc. and Warner Communications. Since then the company's top executives have been trying to form alliances with other major companies, both for strategic reasons and to gain a cash infusion. But the highly visible debt has evidently created an appearance of vulnerability that has inspired potential partners to demand terms Time Warner officials consider unacceptable...
Having turned over day-to-day responsibilities of its undergrads to Harvard in the 1973 "non-merger merger," Wilson told the crowd of 600 that Radcliffe now sets its sights on increasing women faculty at the University, improving security for women on campus and understanding gender dynamics in the classroom...
Paramount can use the help. Ghost turned box offices into cash cows, but the studio remains a flophouse, home to such crowd displeasers as The Two Jakes and The Godfather Part III. What about rumors of a Paramount-NBC merger? | Nonsense, says Paramount chief executive Martin Davis -- at least for the near term...