Consolidation among medical-device makers

Article Abstract:

The US' medical-device makers are on a rampage to swallow up weaker competitors in an effort to strenghten market share. One of the world's biggest makers of cardiac defibrillators, the Guidant Corp., recently announced that it will acquire the pacemaker division of Switzerland-based Sulzer Medica Ltd. for at least $850 million. Following fast on the heals of that deal, General Electric's medical systems' division reported that it would buy Marquette Medical Systems Inc., a manufacturer of heart monitoring machines, for approximately $808 million.

Comment:

General Electric's medical systems' division reported that it would buy Marquette Medical Systems Inc

Asset sales & divestitures, Switzerland, Medical Instruments & Equipment, Medical Equipment and Supplies Manufacturing, Parent-to-subsidiary activities, Medical equipment, General Electric Co., Sulzer Medica Ltd., Guidant Corp., GE Marquette Medical Systems Inc.

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A Spanish civil war at Scudder

Article Abstract:

The proposed merger between the Growth Fund of Spain and the Scudder Spain and Portugal Fund is being opposed by some stockholders. Both closed-end funds are managed by Scudder Kemper Investments. The debate over the planned merger has become highly-contentious as both sides have exchanged unpleasantries. The combined assets of Growth Fund and Scudder come out to more than $500 million. Under the deal, stockholders who want to cash out at net asset value will have to tender their stock.

Comment:

Proposed merger between the Growth Fund of Spain and the Scudder Spain and Portugal Fund is being opposed by some stockholders

Growth Fund of Spain Inc., Scudder Spain and Portugal Fund Inc.

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A Buffett effect on Sequoia

Article Abstract:

Berkshire Hathaway's $21.7 billion acquisition of General Re is having a major impact on Sequoia, a mutual fund. Sequoia is a $4.8 billion offering that was closed to new investors in 1982. It is Berkshire's largest holding as 26.4% of its portfolio was included in the company's share as of December 31, 1998. Sequoia's share price dropped 1.2% following Berkshire's announcement of the acquisition.

Comment:

Berkshire Hathaway's $21.7 bil acquisition of General Re has a major impact on Sequoia, whose share price fell 1.2% due to deal

Securities prices, Sequoia

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