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.

Netherlands, New Jersey, California, Ontario, Insurance Agents & Brokers, Insurance Agencies and Brokerages, CIT Group Inc., Transamerica Corp., Newcourt Credit Group Inc.

---

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Omaha-based company, through its wholly-owned subsidiary, will accept for purchase all shares validly tendered and not withdrawn before the expiration of the offer.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.

Nonmetallic Mineral Product Manufacturing, Construction Materials, Mutual Fund Mgmt Companies, Portfolio Management, Building materials, Mutual funds, Johns-Manville Corp.

---

'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.

Telemarketing Services, Telemarketing Bureaus, Telemarketing

Similar abstracts:

• 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

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.