Mergers & Acquisitions
Sprint cancels $3 billion convertible sale
NEW YORK (Reuters) - Sprint Nextel Corp , the No. 3 mobile phone service, canceled its $3 billion convertible sale a day after announcing it, saying the terms being offered were not favorable for a deal. Full Article
Google says AOL investment may be impaired: filing
SAN FRANCISCO (Reuters) - Google Inc's 5 percent stake in Time Warner Inc's AOL unit may be worth less than the $1 billion the Web company paid for it in 2006, Google warned in a regulatory filing on Thursday. Full Article
Top Global M&A Deals
Announced last week (19 Jul to 25 Jul 2008)
| Target | Acquirer | Value $M |
|---|---|---|
| Genentech Inc (USA) | Roche Holding AG (CHE) | 43,655.4 |
| TransAlta Corp (CAN) | LS Power Equity Partners and Global Infrastructure Partners (USA) | 7,015.6 |
| Philadelphia Consolidated Holding Corp (USA) | Tokio Marine & Nichido Fire Insurance Co Ltd (JPN) | 4,392.7 |
| Foundry Networks Inc (USA) | Brocade Communications Systems Inc (USA) | 2,807.9 |
| FoodVest Ltd (GBR) | Lion Capital LLP (GBR) | 2,190.5 |
| North American laundry business of Unilever NV (USA) | Vestar Capital Partners Inc (USA) | 1,450.0 |
| Properties in Eastern and San Juan Regions and Marcellus Fayetteville Barnett and Haynesville Shales (USA) | XTO Energy Inc (USA) | 1,300.0 |
| Bertolli olive oil and vinegar business (ITA) | Sos Cuetara SA (ESP) | 998.4 |
| Vital Signs Inc (USA) | General Electric Co (USA) | 990.4 |
| Aurelian Resources Inc (CAN) | Kinross Gold Corp (CAN) | 915.8 |
Top Industries: Global M&A
Announced in the last 13 weeks (26 Apr to 25 Jul 2008)
| Industry | Deals | Value $M |
|---|---|---|
| Financials | 2,132 | 166,160.5 |
| Non-Cyclical Consumer Goods / Services | 1,163 | 105,250.0 |
| Energy | 529 | 94,598.6 |
| Telecommunications Services | 195 | 91,980.7 |
| Healthcare | 559 | 85,800.6 |
| Basic Materials | 1,066 | 75,611.6 |
| Industrials | 2,241 | 71,137.9 |
| Cyclical Consumer Goods / Services | 1,749 | 56,473.0 |
| Technology | 1,060 | 39,827.5 |
| Utilities | 368 | 38,684.3 |
We're hopeful that this settlement sends a very compelling message that others should follow Citigroup's example and do the right thing.
What's next?
The credit crisis hammered the global banking system and squeezed lending everywhere, initiating a sharp slowing of the world economy. In this special package, Reuters looks at the crisis and asks, what's next? Full Coverage | Video
