Word: mergers
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...recent agreement put an end to these talks, and Collery said that he doubted that a merger between Columbia and Barnard colleges will be reached "in the next century...
Ellen V. Futter, president of Barnard, called the decision "a tremendous triumph," adding that "for the first time, we can look forward to a long-term stable relationship with Columbia without the sword of possible merger hanging over our head," according to an article in Saturday's New York Times...
...while many traders seemed anxious to sell last week, there were still buyers aplenty for one category of stocks-companies whose shares hold speculative promise because they are prime takeover targets. Wall Street's merger mania accounted for some $80 billion in stock market trading during 1981. Some experts believe that takeover speculation by professional arbitragers, traders who try to buy merger stocks low and sell them high, and the takeover adventurists among the general public account for up to 25% of current trading...
Investors are rushing to buy the stock of potential merger partners in hopes of making a quick market killing. People generally did very well who got into the battle early between U.S. Steel and Mobil for control of Marathon Oil. U.S. Steel last week seemed assured of victory in its takeover bid, estimated to cost $6.15 billion, the second largest corporate coupling in U.S. history. (The largest merger was the $7.5 billion merger of Conoco and Du Pont in 1981.) Workers began to prepare checks for the 17,000 selling Marathon shareholders just hours after Supreme Court Chief Justice Warren...
...euphoria, this recent merger activity is really just a result of the decade-long lag in stock values, which has made it cheaper for firms to buy existing companies rather than build new factories. Says Robert Stovall, director of investment policy for Dean Witter: "Adjusted for inflation, the stock market has never been higher than...