Word: mergers
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...Prime Minister Hans Modrow. Two days later, Modrow signaled that he too had finally read the handwriting on the collapsed Berlin Wall. "Germany should once again become the united fatherland of all the citizens of the German nation," he said. Modrow unveiled a four-step process for the gradual merger of the two Germanys' economies, legal systems and governments that closely paralleled the plan presented in December by West German Chancellor Helmut Kohl, except on one critical point. Modrow unequivocally called for a neutral Germany, demanding that both states "detach themselves" from their respective military alliances...
Cohen was determined to build a firm that would rival Merrill Lynch in size. In 1984 he orchestrated a $360 million merger between Shearson/American Express and Lehman Brothers Kuhn Loeb. That move catapulted Shearson into the immensely profitable investment-banking business. But signs of stress began to appear in the wake of the 1987 stock-market crash, when Shearson paid nearly $1 billion to acquire E.F. Hutton. Dozens of top-notch Hutton brokers defected to other investment firms. At the same time, the firm suffered dwindling business from individual investors, on whom Shearson was still heavily dependent. Cohen, meanwhile...
Even in a place and time known for excess, Jeffrey Beck, a "rainmaker" who drummed up merger deals for Wall Street's Drexel Burnham Lambert, stood out as one of the most colorful takeover specialists ever to don a power tie. Nicknamed "Mad Dog" for his courage under fire, he regaled friends with tales of his jungle-patrol days in Viet Nam. He talked of his Silver Star, two Bronze Stars and four Purple Hearts. He often told colleagues that he stood to inherit a multibillion-dollar fortune from the German brewery family of the same name...
...that the Japanese are taking over the country, if not the world. But far bigger investments in the U.S. are those of the Europeans, who now face a gigantic opportunity in the collapse of East European communism. In theory, the European Community is supposed to complete its basic economic merger in 1992, when it will have free movement of capital, open borders, no trade barriers among the member nations and a common tariff on outside goods. Some now see difficulties in the new possibility of German reunification and an economic opening to the East. Leaders of the European Community...
Investors agreed. They flocked to place money with the brothers, who had earned a reputation for creativity and bareknuckle competitiveness in the genteel British ad market. The Saatchis went on a billion-dollar spree that sparked panic on then complacent Madison Avenue and helped fuel a merger frenzy as other agencies joined forces to stay in the game. Meanwhile the brothers bought and bought. Among the dozens of U.S. firms they scooped up were top names like Compton Communications (purchased in 1982 for $55 million), Dancer Fitzgerald Sample (1986, $75 million) and Backer & Spielvogel (1986, $100 million...