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Merckle's investment company, VEM, owes banks €5 billion. For the past two months, Merckle had been entrenched in negotiations with some 40 banks, including Commerzbank AG, Deutsche Bank AG, Royal Bank of Scotland Group PLC and public bank Landesbank Baden-Wüerttemberg, to get a bridge loan to keep VEM afloat...
...smaller but no less ambitious players, are also transforming Alberta's boreal oil patch into the primary supplier of feedstock for an integrated North American energy market. "Canada is extremely important to U.S. energy security," says Rob Routs, executive director of oil sands at Netherlands-based Royal Dutch Shell PLC, the world's No. 2 oil company, with annual revenue of $355.8 billion, which plans to boost production in Canada's north nearly fivefold, to 700,000 bbl. per day, by the middle of the next decade...
...complex field of health-care information may soon be a little more streamlined. On Tuesday, Chicago-based electronic medical records provider Allscripts announced it has agreed to merge with British rival Misys PLC in a cash-and-stocks deal worth more than $1 billion...
Under the deal, Allscripts will absorb Misys Healthcare, the U.S.-based subsidiary of Misys PLC and a market leader in this industry, serving more than 110,000 physicians in 18,000 practices and 600 home care providers. Going forward, Misys will hold a 54.5% stake in the new company but Tullman will remain at its helm, with the publicly traded Allscripts handling day-to-day operations. Allscripts CFO Bill Davis will also continue in his post. Last year Allscripts' revenue topped $280 million, up 60% from 2005, and its earnings reached $20 million. Despite this sales growth, Allscripts' shares...
...From Comedy at the Edge by Richard Zoglin. Copyright 2008 by Richard Zoglin. Published by Bloomsbury Publishing Plc...