New York Times DealBook Summary 6/16/2006
Stocks: (CME)(NYX)(NDAQ)(SHR)(BAY)(VZ)(EPL)(SGY)(PXP)(MIR)(NRG)(VE)(TELN)
According to New York Times DealBook, shares of the public exchanges have fallen sharply. The Nasdaq's shares ware down 43% and the NYSE is down 41%. from 52-week highs. The Chicago Mercantile Exchange has done better, off just 11% from its high for the year.
DealBook says that Merck may have actually done well in its failed takeover of Schering, which is being bought by Bayer for $20.8 billion. Merck made money on its investment, and may end up in joint ventures with Schering. Merck is the German drug company, not to be confused with the U.S. company with the same name.
DealBook says that Canadian investment bank GMP Capital Trust bought private equity group EdgeStone Capital for $140.8 million.
DealBook writes that a Morgan Stanley analyst feels that Verizon's spin-off of its yellow page unit is a "mixed bag". It will reduce earnings by 8%. Verizon Information Service, the name for the unit that will become independent, is projected to have $1.65 billion in EBITDA this year.
DealBook writes that Energy Partners Ltd made a bid for oil and gas producer Stone Energy at $51 a share. But, this competes with a previous offer from Plains Exploration and Production. The Energy Partners bid is good until Sunday.
DealBook writes that Mirant, the energy company, will meet with shareholders over the near-term to discuss its future now that it has withdrawn its offer for NRG Energy. After the failed takeover bid, the company indicated it would not look at other acquisitions.
DealBook reports that Veolia Environment will not make a hostile bid battle for Vinci. Veolia said it still would like to pursue the merger and that a deal would add $882.5 million in core revenues to the combined company.
DealBook also says that Telenor has told some investors in Vimpelcom that it may buy additional stock in the Russian mobile operator. Telenor, based in Norway, owns a 26.6% voting position in Vimpelcom already.
Douglas A. McIntyre
According to New York Times DealBook, shares of the public exchanges have fallen sharply. The Nasdaq's shares ware down 43% and the NYSE is down 41%. from 52-week highs. The Chicago Mercantile Exchange has done better, off just 11% from its high for the year.
DealBook says that Merck may have actually done well in its failed takeover of Schering, which is being bought by Bayer for $20.8 billion. Merck made money on its investment, and may end up in joint ventures with Schering. Merck is the German drug company, not to be confused with the U.S. company with the same name.
DealBook says that Canadian investment bank GMP Capital Trust bought private equity group EdgeStone Capital for $140.8 million.
DealBook writes that a Morgan Stanley analyst feels that Verizon's spin-off of its yellow page unit is a "mixed bag". It will reduce earnings by 8%. Verizon Information Service, the name for the unit that will become independent, is projected to have $1.65 billion in EBITDA this year.
DealBook writes that Energy Partners Ltd made a bid for oil and gas producer Stone Energy at $51 a share. But, this competes with a previous offer from Plains Exploration and Production. The Energy Partners bid is good until Sunday.
DealBook writes that Mirant, the energy company, will meet with shareholders over the near-term to discuss its future now that it has withdrawn its offer for NRG Energy. After the failed takeover bid, the company indicated it would not look at other acquisitions.
DealBook reports that Veolia Environment will not make a hostile bid battle for Vinci. Veolia said it still would like to pursue the merger and that a deal would add $882.5 million in core revenues to the combined company.
DealBook also says that Telenor has told some investors in Vimpelcom that it may buy additional stock in the Russian mobile operator. Telenor, based in Norway, owns a 26.6% voting position in Vimpelcom already.
Douglas A. McIntyre
posted by douglas mcintyre at 2:31 PM
Subscribe
<< Home