GE's revised offer fails to appease EU officials

Article Abstract:

GE (General Electric's) revised bid of concessions to gain EU regulatory approval to acquire Honeywell for $41 billion was rejected. The rejection will probably indicate the end of what would have been the biggest industrial takeover in the world.

ELECTRONIC & OTHER ELECTRIC EQUIPMENT, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Switzerland, Computer and Office Equipment, Office & Computing Machines, Office equipment, General Electric Co., GE, Honeywell AG

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Travelers takes Nikko stake

Article Abstract:

Travelers Group, an insurance giant, is taking a 25% stake in Nikko Securities, the third-biggest brokerage firm in Japan, for about $1.2 billion. As part of the transaction, Nikko and Salomon Smith Barney, Travelers investment banking unit, will form a joint venture to increase the distribution reach of their financial products. Travelers CEO Sandy Weill said the deal comes at the right time. A foundering Japanese economy means assets are relatively cheap in light of the country's restricted and uncompetitive financial markets are being hounded by deregulation.

Comment:

Is taking a 25% stake in Nikko Securities, the 3rd-biggest brokerage firm in Japan, for about $1.2 bil

Japan, Securities Dealers, Investment Banking and Securities Dealing, Insurance, Insurance Carriers and Related Activities, Nikko Securities Company Ltd., Travelers Inc., Article

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