CalEnergy will acquire MidAmerican

Article Abstract:

CalEnergy Co. of Omaha, NE, has decided to purchase Iowa-based MidAmerican Energy Holdings Co. in a deal worth $27.15 per share in cash. CalEnergy will also assume $1.4 billion in debt and preferred stock. The deal, which prompted an increase in MidAmerican's stock after being approved by both companies' boards on Aug. 12, 1998, represents the first purchase of a traditional utility by a stand-alone power producer, making CalEnergy enter a market that has been dominated by traditional utilities for over 60 years. The combined firm is to have assets and annual revenues worth $11.8 billion and $5 billion, respectively, as well as over $3.3 million clients.

Comment:

Agrees to purchase Iowa-based MidAmerican Energy Holdings Co in a deal worth $27.15 per share in cash

Electric Utilities, Electric Power Generation, Transmission and Distribution, MidAmerican Energy Holdings Co., CalEnergy Company Inc.

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Acxiom will acquire May & Speh in $625 million stock transaction

Article Abstract:

Acxiom Corp. of Conway, AR, has resolved to purchase its direct-marketing competitor May & Speh Inc. of Downers Grove, IL, in a stock deal worth approximately $625 million, or around $17.44 per share. Acxiom is a provider of data products and other services to a range of customers that include International Business Machines Corp. Meanwhile, May & Speh is involved in a couple of businesses, information management and direct marketing. Acxiom Chairman Charles D. Morgan commented the combination of the company and May & Speh improve their capability to make customer solutions. The combined firm will have an estimated $700 million in revenue a year.

Comment:

Agrees to purchase its direct-marketing rival May & Speh Inc of Downers Grove, IL, in a stock deal worth about $625 mil

On-Line Information Services, Database Vendors, Arkansas, Direct Mail Advertising, Direct Mail Advertising Svcs, Illinois, Database industry, Acxiom Corp., May and Speh Inc.

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AmSouth to acquire First American in a stock swap

Article Abstract:

AmSouth Bancorp. has agreed to purchase First American Corp. in a share-for-share deal worth $6.3 billion (6.05 billion euros). The transaction would form a powerful banking franchise located in the southeastern part of the US. The merged entity would have assets worth $40 billion located throughout nine states. The deal is a reflection of the ongoing consolidation of regional banks.

Comment:

AmSouth Bancorp. to purchase First American in share-for-share deal worth $6.3 billion (6.05 billion euros)

Commercial Banks, Commercial Banking, Banking industry, Mergers, acquisitions and divestments, Abstract, AmSouth Bancorp., First American Corp. (Nashville, Tennessee)

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