(Reuters) - Citigroup's U.S.-based Chief Executive Charles Prince said last month he wanted to increase earnings from foreign markets to up to 65 percent of its total from a current 45 percent.
"The most important global strategy for Citi is to expand our international presence and profitability. It is the same strategy we are using in Taiwan," the group's Taiwan country officer Morris Li told a news conference on Monday to announce the deal.
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Sunday, April 8, 2007
UPDATE 2-Citigroup to buy Taiwan's BOOC for $426 mln
(Reuters) - TAIPEI, April 9 - Citigroup said it will pay T$14.1 billion for Taiwan's Bank of Overseas Chinese , its third Asian purchase in recent months as it looks to boost overseas earnings.
Citigroup's U.S.-based Chief Executive Charles Prince said last month he wanted to increase earnings from foreign markets to up to 65 percent of its total from a current 45 percent.
Read more at Reuters.com Mergers News
Citigroup's U.S.-based Chief Executive Charles Prince said last month he wanted to increase earnings from foreign markets to up to 65 percent of its total from a current 45 percent.
Read more at Reuters.com Mergers News
Citigroup may buy Old Lane hedge-fund firm - WSJ
(Reuters) - If the deal is completed, Pandit would become chief executive of Citigroup's alternative-investments unit, the Journal said.
A representative from Citigroup was not immediately available for comment. Old Lane was also not immediately available for comment.
Read more at Reuters.com Mergers News
A representative from Citigroup was not immediately available for comment. Old Lane was also not immediately available for comment.
Read more at Reuters.com Mergers News
Dow Chemical to face $50 billion bid: report
(Reuters) - Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Thursday.
At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts , it said.
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At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts , it said.
Read more at Reuters.com Business News
Isuzu to build U.S. truck plant in Alabama: paper
(Reuters) - It pulled out of joint vehicle production venture with Fuji Heavy Industries Ltd in 2002.
The new plant will build trucks with a payload capacity of four tonnes or more and initial annual production capacity will be 5,000 units, the paper said.
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The new plant will build trucks with a payload capacity of four tonnes or more and initial annual production capacity will be 5,000 units, the paper said.
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Dutch regulators will allow rival bid for ABN - FT
(Reuters) - "Well, let them come to the supervisor, and we will look at it, and when it looks fine there will be no problem," the newspaper quoted him as saying.
His comments to the FT, signalling an offer would be considered even if it meant breaking up or selling off parts of of the bank to different groups, were seen as easing the path for possible rivals to a Barclays' bid.
Read more at Reuters.com Mergers News
His comments to the FT, signalling an offer would be considered even if it meant breaking up or selling off parts of of the bank to different groups, were seen as easing the path for possible rivals to a Barclays' bid.
Read more at Reuters.com Mergers News
Citigroup in talks to buy Old Lane: WSJ
(Reuters) - He also could become a candidate to eventually succeed Citigroup Chief Executive Charles Prince, the newspaper said.
Citigroup and Old Lane could not be immediately reached for comment.
Read more at Reuters.com Business News
Citigroup and Old Lane could not be immediately reached for comment.
Read more at Reuters.com Business News
US Feb machine tool demand down from Jan, year ago
(Reuters) - February demand also fell 9.7 percent from January's $297.17 million, which was previously reported as $297.48 million.
"The first two months of the year fit the forecast pattern of slower growth in 2007," AMT President John Byrd said in a statement.
Read more at Reuters.com Economic News
"The first two months of the year fit the forecast pattern of slower growth in 2007," AMT President John Byrd said in a statement.
Read more at Reuters.com Economic News
Gannett could raise div, spin off TV unit: report
(Reuters) - Gannett's price-to-earnings ratio is the lowest in the newspaper industry with a share price that is about 12 times estimated 2007 profits, Barron's said. It noted that real estate mogul Sam Zell's buyout offer of $34 per share for Tribune is 17 times that company's estimated 2007 earnings per share.
Because of Gannett's $13.2 billion market value and its $5 billion debt, the newspaper said the publisher was not a likely candidate for a leveraged buyout.
Read more at Reuters.com Mergers News
Because of Gannett's $13.2 billion market value and its $5 billion debt, the newspaper said the publisher was not a likely candidate for a leveraged buyout.
Read more at Reuters.com Mergers News
Group eyes $50bln bid for Dow Chemical: report
(Reuters) - Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Thursday.
At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts , it said.
Read more at Reuters.com Business News
At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts , it said.
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Berkshire takes 10.9 pct Burlington Northern stake
(Reuters) - Berkshire owned 39,027,430 shares of Burlington Northern with a market value of $3.23 billion as of April 5, according to a Friday filing with the U.S. Securities and Exchange Commission. Prior to Friday, Berkshire had not disclosed a stake in the second-largest U.S. railroad.
It wasn't immediately clear why Berkshire amassed the stake. Berkshire and Burlington Northern did not immediately return calls seeking comment.
Read more at Reuters.com Business News
It wasn't immediately clear why Berkshire amassed the stake. Berkshire and Burlington Northern did not immediately return calls seeking comment.
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UPDATE 2-Alliance Boots to open door to new suitor -sources
(Reuters) - LONDON, April 8 - British pharmacy chain owner Alliance Boots plans to provide detailed financial information to a new suitor mulling a rival takeover bid to one from private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL], people familiar with the situation said on Sunday.
Fellow buyout firm Terra Firma, which owns UK cinema chains and waste management firms, has teamed up with the Wellcome Trust medical charity and made an approach for the health and beauty retailer, these people said.
Read more at Reuters.com Mergers News
Fellow buyout firm Terra Firma, which owns UK cinema chains and waste management firms, has teamed up with the Wellcome Trust medical charity and made an approach for the health and beauty retailer, these people said.
Read more at Reuters.com Mergers News
CORRECTED: Group eyes $50bln bid for Dow Chemical - report
(Reuters) - Quoting sources close to the deal, The Sunday Express, a UK tabloid paper, said a financing package has been put in place for a break-up bid of between $52 to $58 a share and an approach valuing the company at least $50 billion could come by the end of this week.
Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Thursday.
Read more at Reuters.com Business News
Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Thursday.
Read more at Reuters.com Business News
UPDATE 1-Mideast-US fund eyes $50bln bid for Dow Chemical-report
(Reuters) - Quoting sources close to the deal, The Sunday Express, a UK tabloid paper, said a financing package has been put in place for a break-up bid of between $52 to $58 a share and an approach valuing the company at at least $50 billion could come by the end of this week.
Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Friday.
Read more at Reuters.com Mergers News
Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Friday.
Read more at Reuters.com Mergers News
Mideast-US fund eyes $50bln bid for Dow Chemical: report
(Reuters) - Dow's shares closed up 35 cents at $44.47 on the New York Stock Exchange on Friday.
At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts, it said.
Read more at Reuters.com Business News
At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts, it said.
Read more at Reuters.com Business News
RPT-IPO VIEW-MetroPCS poised for $1 bln IPO amid telecoms duds
(Reuters) - NEW YORK, April 8 - MetroPCS Communications Inc.'s initial public offering this month is likely to fare better than other recent telecoms and technology IPOs based on the cell phone operator's four-year history of growth and profits.
The Dallas-based company's strong balance sheet and its business model differentiate it in a crowded field of larger competitors and in an IPO market that has been flooded with telecoms and tech offerings over the past three months.
Read more at Reuters.com New Issues News
The Dallas-based company's strong balance sheet and its business model differentiate it in a crowded field of larger competitors and in an IPO market that has been flooded with telecoms and tech offerings over the past three months.
Read more at Reuters.com New Issues News
US Airways sees slight profit for first quarter
(Reuters) - "As a result, for the second straight month we experienced a negative impact on revenue, passenger revenue per available seat mile and cost per available seat mile ," US Airways said in a statement issued late on Friday.
"Despite the disruption we still project a slight profit for the first quarter," it said.
Read more at Reuters.com Market News
"Despite the disruption we still project a slight profit for the first quarter," it said.
Read more at Reuters.com Market News
Earnings to lift stocks
(Reuters) - The next question is whether U.S. equities can then take the step and recapture the record levels from two months ago. That will hinge on the corporate profits picture, which begins taking shape next week as the first of the market's bellwethers deliver first-quarter earnings reports.
"Unless we see a more significant drop in profit margins than the market might be expecting, the trend will probably be higher," said Brandon Thomas, chief investment officer at Envestnet Asset Management in Chicago.
Read more at Reuters.com Bonds News
"Unless we see a more significant drop in profit margins than the market might be expecting, the trend will probably be higher," said Brandon Thomas, chief investment officer at Envestnet Asset Management in Chicago.
Read more at Reuters.com Bonds News
Optimism on payrolls, earnings to lift stocks
(Reuters) - The next question is whether U.S. equities can then take the step and recapture the record levels from two months ago. That will hinge on the corporate profits picture, which begins taking shape next week as the first of the market's bellwethers deliver first-quarter earnings reports.
"Unless we see a more significant drop in profit margins than the market might be expecting, the trend will probably be higher," said Brandon Thomas, chief investment officer at Envestnet Asset Management in Chicago.
Read more at Reuters.com Business News
"Unless we see a more significant drop in profit margins than the market might be expecting, the trend will probably be higher," said Brandon Thomas, chief investment officer at Envestnet Asset Management in Chicago.
Read more at Reuters.com Business News
Regulator spotlights T.Italia stakes in control debate
(Reuters) - Telecom Italia shares were heavily traded last week after AT&T and America Movil said they were in talks with Pirelli to buy a majority of Olimpia, which controls the telecoms company with an 18 percent stake.
Italy's heavyweight banks are working to find a way to keep Telecom Italia, which runs the country's fixed-line network, in domestic control, with two strands currently being developed, newspapers say -- one by Intesa Sanpaolo and one by Mediobanca.
Read more at Reuters.com Mergers News
Italy's heavyweight banks are working to find a way to keep Telecom Italia, which runs the country's fixed-line network, in domestic control, with two strands currently being developed, newspapers say -- one by Intesa Sanpaolo and one by Mediobanca.
Read more at Reuters.com Mergers News
Mideast-U.S. fund eyes $50 bln bid for Dow Chemical: report
(Reuters) - At least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman, with the rest contributed by a number of U.S. buyout firms including Kohlberg Kravis Roberts , it said.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
SABMiller considers $12.8bln bid for brewer S&N: paper
(Reuters) - It would also seek to sell on -- to spirits group Diageo -- the UK arm that makes Britain's biggest selling lager Foster's, John Smith's bitter and Strongbow cider as well as its French business to satisfy industry watchdogs, the report said.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Struggling SAA to reduce meals, cabin crew - paper
(Reuters) - South African Airways will cut meal service on domestic flights and reduce cabin crew to lower costs at the cash-strapped state-owned airline, a South African newspaper reported on Sunday.
Executives of the airline, one of Africa's biggest, are expected to consider the proposals next month when they review an outside firm's plan to save SAA some 2.7 billion rand, the Sunday Times said.
Read more at Reuters Africa
Executives of the airline, one of Africa's biggest, are expected to consider the proposals next month when they review an outside firm's plan to save SAA some 2.7 billion rand, the Sunday Times said.
Read more at Reuters Africa
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