Halliburton Company, the energy services giant and controversial defense contractor, has recently revealed that it is opening of a corporate headquarters office in the United Arab Emirates. The announcement was made at a regional energy conference in the Kingdom of Bahrain. According to the reports Halliburton Chairman, President and Chief Executive Officer Dave Lesar will [...]
Ford Motor Co. is taking several measures to raise cash after last year’s record loss, will sell its profitable Aston Martin luxury sports-car unit for as much as $850 million to a consortium of investors. The consortium is led by the British motor-sport entrepreneur David Richards. His consortium is believed to have held talks with [...]
Schering-Plough, the leading US drugs firm, has agreed to buy Akzo Nobel NV’s drugs unit Organon BioSciences for $14.4 billion in a bid to gain scale and diversify away from cholesterol medicine. The cash sale has marked last-minute reversal of Akzo’s earlier plan to float Organon on the stock market. This mover however was a [...]
Halliburton Co.’s recent decision to move its headquarter to Dubai from Texas has triggered a political firestorm as Senator Hillary Clinton and other top Democrats expressed outrage at the oil services giant. US Democrats now planning to seek a congressional review of the decision, saying it is motivated by greed. However, Dick Cheney, who earlier [...]
Kohlberg Kravis Roberts, after marking the largest private equity buyout in history recently, announced that it is acquiring Dollar General in a move that boosted the ultra-discount retailer’s stock surging high. Dollar General, which is at present putting efforts to restructure the company to encourage sales and reduce turnover, has confirmed that it has agreed [...]
In a surprising move, Alliance Boots bosses have rejected a proposed $18.7 billion takeover offer from a private equity group led by Kohlberg Kravis Roberts, saying the offered price was too low. The board of Alliance Boots declined the offer saying, ‘it does not believe the proposal reflects the fundamental value of the company or [...]
The Tokyo Stock Exchange has announced that it would not de-list the scandal-tainted broker, triggering speculations that Citigroup will have to raise its $10.8 billion bid. Following the announcement shares of Nikko Cordial surged 6.7 percent. Just before the announcement, Nikko’s four largest shareholders, representing close to 27 percent share of the broker, rejected the [...]
Clear Channel Communications has decided to delay the vote on its $18.7 billion sale by two private equity groups and consequently provided the largest US radio station chain an extra month to convince doubtful investors to support the contentious deal. Clear Channel has rearranged its shareholder meeting regarding the company’s proposed privatization, in order to [...]
The leading Indian drugmaker Ranbaxy Laboratories Ltd. said on Tuesday it has submitted a bid for the generics unit of Germany’s Merck KGaA. The buy-out of the unit could be worth as much as 5 billion Euros (US $6.58 billion), analysts say. The company has submitted its bid to the German drug and chemical maker, [...]
China’s cabinet has approved a $2.5 billion investment plan by Intel Corp. in a microchip plant in the northeastern city of Dalian. The approval was confirmed by the National Development and Reform Commission on Tuesday. The decision to approve chip-manufacturing plant in China was taken amid booming Chinese demand for chips used in personal computers [...]
