A lesson in complexity

Article Abstract:

The $7.7 billion merger in 1996 of the dialysis businesses of German concern Fresenius with National Medical Care (NMC) created Fresenius Medical Care, the largest integrated dialysis products concern in the world. The deal was extremely complicated to arrange, but the new concern was well received by investors in the US and Germany. Initially, WR Grace, NMC's parent company, was required to use a 'Morris trust' structure to separate its non-dialysis operations into a new subsidiary. Fresenius received 50.3% of the ordinary share capital of Fresenius Medical Care, with shareholders in WR Grace receiving 44.8%.

Electromedical and Electrotherapeutic Apparatus Manufacturing, Medical Instruments and Supplies, Kidney dialysis centers, Home Dialysis Therapy, Hospital Dialysis Equip, Management, Mergers, acquisitions and divestments, Medical equipment and supplies industry, Medical equipment industry, Dialysis (Chemical process), Home care, Dialysis equipment (Medical treatment), Fresenius AG, Fresenius Medical Care AG, National Medical Care Inc.

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Scandinavian roller-coaster reaches its peak

Article Abstract:

Scandinavia has recovered from the economic downturn of the early 1990s and is ready to join European Monetary Union in Jan 1999. The mergers and acquisitions market is very active, with Sweden seeing over 700 deals in 1997, valued at 7.5 billion pound sterling. Many firms choose to use floatation to raise funds rather than sell through a buyout deal although the large amount of funds available mean buyouts will always be a major option.

Economics, Research and Development in the Social Sciences and Humanities, Finance, Scandinavia, Economic development

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