Word: mergers
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...Hodgkin's lymphoma each generate more than $1 billion in annual sales, and both companies are solidly profitable. Yet "the combination will create more value than either could as separate entities," says William Rastetter, CEO of IDEC, who would get the title of executive chairman after the merger. The focus on managing will probably spill down as more treatments reach the market and more biotech firms start writing in black ink. A wave of mergers could sweep the industry, though that might be several years away...
...employees of PeopleSoft, based in Pleasanton, Calif., were not amused. CEO Craig Conway, 48, himself a former Ellison protege, had just successfully negotiated a $1.7 billion merger deal with another rival, Denver-based J.D. Edwards. That was supposed to be the big story in the software business. Then Conway's customers started talking about the Oracle offer and whether they should postpone purchases until things settled down. Even after the PeopleSoft board concluded there would be antitrust problems with an Oracle takeover, Ellison was still pressing the deal on PeopleSoft shareholders. By the end of the week, PeopleSoft...
After months of secret negotiations, the companies recently announced their nuptials, with Todd Bradley as CEO. The merger's premise is that Treos and Zires can be marketed more efficiently by one organization than two. Hawkins will return as chief technology officer, and Dubinsky will merely sit on the board. Still to be decided: the new company's name. PalmSpring, anyone...
...Edwards. Their businesses were widely regarded as complementary. PeopleSoft tended to sell to high-end firms, J.D. Edwards to the middle market. Four days later, Ellison announced his competing bid for PeopleSoft. Coincidence? Conway thinks not. "If we were ever looking for confirmation that the J.D. Edwards merger was right for the industry," he says, "Larry provided...
...gadgets, mergers can be a risky proposition. The union of the MP3 player and the cell phone didn't work out, though later the cell phone did hit it off with a low-resolution still camera. This month Samsung presides over the long-awaited combination of the digital camcorder and the high-resolution digital camera. The two make a handsome couple. As obvious as the merger sounds, it's difficult to couple the two because they use different types of lenses and image sensors. The SC-D5000 "Duo-cam" ($1,399) allows the user to select video or still images...