Kohlberg Kravis to acquire paint company in Germany

Article Abstract:

Kohlberg Kravis Roberts and Company will acquire German paint company Herberts from Hoechst AG for $1.7 billion. Kohlberg Kravis, which has been following a strategy of acquiring European companies in recent months, was joined in the buyout by Herberts management team to close the deal as Hoechst, the German conglomerate, rids itself of business not involved in its core drug operations. Herberts, with annual sales of $1.5 billion and 7,500 employees, is the largest supplier of paints in Europe.

Comment:

Will acquire German paint company Herberts from Hoechst AG for $1.7 bil

Asset sales & divestitures, Acquisitions & mergers, Germany, Paints & Allied Products, Paint and Coating Manufacturing, Investment Companies, Open-End Investment Funds, Licensing/Sales Agreements, Coatings, Paints, Herberts GmbH, Kohlberg Kravis Roberts & Co., Article

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Morgan Stanley had big gains in first quarter

Article Abstract:

One analyst was quoted as saying that Morgan Stanley has "knocked the cover off the ball" this fiscal quarter with earnings stronger than anyone in its league of securities firms. Return on equity went up to 29% compared with a 20% gain one year ago. Many reasons are attributed to the great numbers, only one of which is that it hung on to its bond inventory during autumn 1998 and reaped the benefits in December. The quarter ended 2/28/99.

Comment:

Securities firm was profitable in all areas

Securities Dealers, Investment Banking and Securities Dealing, Sales, profits & dividends, Finance, Commercial finance companies, Abstract, MWD, Morgan Stanley

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Drop in '98 profits leads to pay cuts for Merrill's top executives

Article Abstract:

Top executives at Merrill Lynch & Co.'s pay cuts did not quite match the profit decrease. Chief executive officer David H. Komansky's pay dropped from $11.1 million to $9.4 million in 1997. Securities industry pegs bonuses closely to performance.

Securities Brokerage, Personal income information, Stockbrokers, Compensation and benefits, MER, Komansky, David H., Merrill Lynch & Company Inc.

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