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
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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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
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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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.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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