Mergers and Acquisitions Boom! Is This a Good Sign for the Economy?
Wall Street dealmakers are off to a busy start to 2013, as some of corporate America’s most recognizable names have become involved in multi-billion-dollar mergers and acquisitions. Just yesterday, American Airlines and US Airways announced they would be merging in an $11 billion deal, while private equity firm 3G and Warren Buffett‘s Berkshire Hathaway announced a $28 billion joint acquisition of food conglomerate H.G. Heinz. And these two deals follow hard upon $24.4 billion leveraged buyout of Dell by private equity firm Silver Lake Partners and the firm’s founder, Michael Dell. Indeed, according to data from Deallogic, U.S. companies have spent $219 billion on mergers and acquisitions so far in 2013, a sharp increase from 2012, when firms spent just $85 billion during the same period. And U.S. firms are on pace to have the biggest year in M&A activity since 2000. While all this activity will be surely benefit shareholders of acquired firms — as well as lots of Wall ...
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PODCAST: Adele goes Bond, Federal Reserve goes beige
Wednesday, October 10, 2012 - 10:12 LEON NEAL/AFP/Getty Images British singer-songwriter Adele accepts the British Female Solo Artist award at the BRIT Awards 2012 in London on February 21, 2012. This morning global markets are digesting the fact that the head of China's central bank will be a no-show at this week's meeting of the International Monetary Fund. The problem seems to be that that meeting is in Japan -- and China and Japan right now are facing off over disputed island territories. CostCo says profits jumped 27 percent last quarter. Whatever other problems there are in the global economy, American demand for 84-packs of toilet paper remains strong. Wal-Mart says sales on layaway are looking strong in advance of the holidays. YUM Brands says KFC is doing just fine in China, thank you very much -- the company raised its financial outlook for the year -- from "good" to "finger lickin' good." Later today the Federal Reserve rolls out the much anticipated "50 Shades of Beige" -- ...
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