Monday, December 04, 2006

The mergers continue

The mergers continue! The last few months have been very busy for the takeover (err- Market for corporate control market). And today is no different:

Bank of New York to Buy Mellon for .5 Billion - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times:
"Bank of New York plans to acquire Mellon Financial of Pittsburgh in a $16.5 billion stock transaction that would create the world’s largest securities-servicing firm, the companies said early Monday. The combined entity would be called Bank of New York Mellon and have annual revenue of more than $12 billion, according to a joint press release on the two banks’ Web sites.

The boards of both banks have approved the deal, which is expected to close early in the third quarter of 2007, the companies said."
A few M&A links that might be beneficial/fun:

* Gregg Jarrell's into piece on takeovers (virtually required reading for my class!)
BTW I took Jerrell for a class, it was one of my favorite all time classes!
* A classic look at takeovers from Michael Jensen
* A more recent look at the takeover literature by Burkart and Panunzi that also has more of an international flavor.
* A look at some cartoons that focus on takeovers

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