Beijing orders brokerage firms Guotai Securities, J&A to merge

Article Abstract:

China's Guotai Securities and J&A Securities have been ordered to merge by the government in Beijing, creating a powerhouse securities company on the Chinese mainland. The move comes in the wake of investigations into improper dealings by J&A, and ends speculation about its fate. The new company, likely to be called Guotai J&A Securities, will automatically earn the rank as the top firm in the Chinese brokerage and investment-banking industry, with $2.74 billion in assets, 100 outlets nationwide and vast personnel base. The company will become China's largest underwriter and biggest trader in secondary markets.

Comment:

Chinese govt orders merger of Guotai with J&A to create mamoth securities firm w/$2.74 biillion

China, Acquisitions & mergers, Securities Brokerage, Stockbrokers, Guotai J&A Securities, Guotai Securities, J&A Securities

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Toa Steel of Japan to dissolve

Article Abstract:

Toa Steel Co. announced that it is liquidating its assets in the process of dissolving itself. The announcement sent shock waves through the Japanese stock market. It also showed that major Japanese corporate collapses would continue to occur in the future. Toa's liquidation is one of the biggest since the end of World War Two. The move is also the most recent in a series of of business collapses that are taking place all over Japan.

Comment:

Announced that it is liquidating its assets in the process of dissolving itself

Japan, Company Planning/Goals, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Toa Steel Company Ltd.

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