CIT Group acquires company; Transamerica is purchased
Article Abstract:
Two of North America's biggest non-bank lenders will combine operations when business credit company CIT Group Inc of Livingston, NJ, completes its acquisition of Toronto, Ontario-based Newcourt Credit Group Inc in summer 1999. The deal calls 0.92 shares of CIT to be exchanged for each outstanding Newcourt common stock share. CIT says the roughly $9-billion merger will create the largest publicly owned firm in commercial finance. Meanwhile, Insurance and financial services provider Transamerica Corp of San Francisco, CA, will be acquired by international insurance group Aegon NV of the Netherlands in a $9.7-billion cash and stock deal. The deal is expected to close in summer 1999.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Berkshire Hathaway subsidiary seals cash offer for JM shares
Article Abstract:
Berkshire Hathaway has completed its cash tender offer for all the outstanding common stock of Johns-Manville Corp (JM). The Omaha-based company, through its wholly-owned subsidiary, will accept for purchase all shares validly tendered and not withdrawn before the expiration of the offer. Berkshire will acquire as many as 130.2 million shares, or approximately 94.7% of JM's total outstanding stock. Once the deal has been completed, Berkshire will own 98.2% of JM.
Publication Name: Roofing Siding Insulation
Subject: Construction and materials industries
ISSN: 0033-7129
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
'98 a record year for teleservice mergers and acquisitions
Article Abstract:
A record number of transactions and deal volumes in mergers and acqusitions among teleservice companies has been set in 1998. A total of 57 deals with a total transaction volume of more than $2.9 billion were registered in 1998, up by 90% and 200%, respectively from 1997. The top 10 deals accounted for 85%, or over $2.4 billion, of the total volume.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Presto, no more bogus e-mail lists. Segmenting is the recipe for warmer leads. How to create e-mail advertising that doesn't suck
- Abstracts: South African parcel service a success as private company. UPS launches direct air service to China. Fedex and La Poste in parcel delivery deal
- Abstracts: Dave Vaughn. Blackistone as consumer has a message for industry
- Abstracts: US and Taiwan Internet companies partner in Asia drive. Brussels pushing for alternative dispute resolution online
- Abstracts: Carlisle SynTec announces joint venture. Petersen Aluminum Corporation