Word: salomons
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...says, correcting a reporter about the time of the event. In a decade of almost nonstop dealmaking since then, Weill has not only clawed his way back but last week was being hailed as the new king of Wall Street after Travelers sealed a $9 billion deal to acquire Salomon Bros., one of the world's largest bond-trading houses. Says Weill, 64, of his odyssey: "I never thought it could be anything approaching this...
...Square and the Kremlin. It has already made history as the first Russian-registered company to sell securities in the U.S. in the post-communist era. In 1995 Mosenergo issued $22.5 million worth of American Depositary Receipts, or ADRs, in a private placement on Wall Street handled by Salomon Brothers. Two years before the U.S. offering, and after 70 years of exclusive state control, Mosenergo officially gained the status of a public company in Russia. Unified Energy Systems of Russia, a state utility, is the firm's principal shareholder, with a 49% stake. Foreign investors own 35.3%; other Russian companies...
...Travelers Inc.'s $9 billion acquisition of Salomon Brothers begs the question: who's going to run the new investment giant? (Money Daily...
...Travelers Group acquisition of Salomon Brothers may signal a rash of new mergers (Money Daily...
...great divider is Rand Araskog, CEO of ITT Corp., who will run ITT Destinations. He also unveiled a $2.1 billion, $70-a-share stock buyback. An exultant Araskog claimed victory, but by busting up ITT he merely beat Hilton to the punch. Says Bruce Turner, a managing director for Salomon Brothers: "His strategy happened because [Hilton CEO Stephen] Bollenbach came calling and there was no question what he would...