Deals
Yahoo has struck an advertising partnership deal with WPP Group that will let WPP units GroupM and 24/7 Real Media buy ads on Yahoo’s online ad exchange, but it may be a stretch to expect this to shake off the dogs of war unleashed by Carl Icahn. Go to Blog
News
Icahn's Yahoo fight puts Microsoft in driver's seat
SEATTLE (Reuters) - Two weeks after Microsoft Corp abandoned its pursuit of Yahoo Inc, a proxy fight launched by activist investor Carl Icahn has put Microsoft in the driver's seat. Full Article | Video
Analysis (1/5)
paidContent: Les Moonves on the CNET acquisition
The CBS CEO talks about how the online tech site will fit into the Tiffany network, and what reaction he expects from activist CNET shareholder Jana Partners. Full Article
Commentary: Yahoo's board brought this on themselves
Investor Eric Jackson, instrumental in a campaign for a change of leadership at Yahoo last year, welcomes Carl Icahn's campaign to replace the current board of directors. Full Article
Buyout shops eye U.S. banks but wary of regulators
Private equity firms are searching for ways to invest in U.S. banks and thrifts while avoiding restrictions that bar owners of these institutions from other businesses. Full Article
Newspapers to see more deals but at lower pricess
The fight to buy Newsday surprised many in the media world -- not because of its high-profile combatants, but because of the high price they were willing to pay to buy a newspaper. Full Article
Cheap TV
Cable and satellite companies may be worth more than their current share prices suggest, as surprisingly strong subscriber growth during the first quarter shows their resilience despite tougher competition and a weak U.S. economy. Full Article
It is clear to me that the board of directors of Yahoo has acted irrationally and lost the faith of shareholders and Microsoft.
Global M&A Data
Top Global M&A Deals
Announced last week (3 May to 9 May 2008)
| Target | Acquirer | Value $M |
|---|---|---|
| Clearwire Corp (USA) | Sprint Nextel Corp (USA) | 7,400.0 |
| Credit Card Receivables (USA) | JPMorgan Chase & Co (USA) | 3,600.0 |
| Clearwire Corp (USA) | Intel Corp & Google & Comcast & Time Warner Cable & Bright House Networks (USA) | 3,200.0 |
| Japanese consumer loan business of GE (JPN) | Acom Co Ltd (JPN) | 2,866.3 |
| New Venture Comprising Retail Business of Carphone Warehouse Group PLC (GBR) | Best BUY Co Inc (USA) | 2,125.7 |
| Enodis PLC (GBR) | FNI Limited (GBR) | 2,010.6 |
| Taylor Nelson Sofres PLC (GBR) | WPP Group Plc (GBR) | 1,937.4 |
| RHB Capital Bhd (MYS) | Abu Dhabi Commercial Bank PJSC (ARE) | 1,222.5 |
| AFP Capital SA (CHL) | ING Compania de Inversiones y Servicios Limitada (CHL) | 723.7 |
| MCB Bank Ltd (PAK) | Malayan Banking Bhd (MYS) | 679.8 |
Top Industries: Global M&A
Announced in the last 13 weeks (9 Feb to 9 May 2008)
| Industry | Deals | Value $M |
|---|---|---|
| Financials | 2,384 | 112,219.9 |
| Industrials | 2,456 | 78,650.0 |
| Basic Materials | 1,207 | 69,132.4 |
| Non-Cyclical Consumer Goods / Services | 1,154 | 46,288.6 |
| Cyclical Consumer Goods / Services | 1,820 | 40,037.6 |
| Energy | 500 | 36,861.1 |
| Healthcare | 491 | 36,273.3 |
| Telecommunications Services | 237 | 31,726.6 |
| Technology | 1,108 | 27,116.8 |
| Utilities | 374 | 22,815.5 |
Execs defend humans in high-tech markets
NEW YORK (Reuters) - The heads of the world's biggest stock exchanges agree there is still room for the "human element" in a high-speed trading environment that has aggressively gone electronic. Full Article
