| To: Glenn Petersen who wrote (3719) | 7/28/2014 9:34:08 AM | | From: richardred | | | | | IMO Anything that helps gives you an advantage or keeps you on par over your global competitor is what global corporation do. It's the BOD fiduciary responsibility to the shareholders to stay competitive. I can't think of any company that is growing profits that want to pay their fair share the the IRS. I think they would rather use those monies to grow their business and hire more people with those profits, to generate more profits. For mature corporations, pay increased dividends to shareholders. Our representatives took away a dividend exclusion to individuals. Ask Warren Buffett again why Berkshire doesn't pay a dividend (double taxation). Even in my State, Democrat controlled NY is offering tax incentives to try and lure back, or attract new corporations. Case in point, the yogurt industry. Let our representatives offer a corporate tax structure on par with the global companies. This rather than force something that punishes them. IMO the corporations need incentives not forced choices. |
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| To: richardred who wrote (3722) | 7/28/2014 9:46:41 AM | | From: Glenn Petersen | | | | I am in agreement with you. We need to reform our federal corporate tax code to level the playing field globally and take away any incentive to game the system.
Speaking of yogurt:
Drug Maker Hospira and France’s Danone in Talks on $5 Billion Inversion Deal
By DAVID GELLES
DealBook
New York Times
July 28, 2014 9:34 am
Hospira, a Midwestern pharmaceutical and medical device maker, is in talks to pay about $5 billion for the medical nutrition business of the French consumer group Danone, a person briefed on the matter said.
The deal, if completed, would allow Hospira to reincorporate overseas in a so-called inversion, lowering its tax rate and freeing its foreign cash.
Hospira, based in Lake Forest, Ill., has a market value of $8.6 billion and makes a range of drugs, pumps and software for the medical industry. The person briefed on the negotiations said they were continuing and could fail. The Financial Times on Sunday reported on the talks.
The rush of inversions is drawing scrutiny from federal regulators, who are concerned about the erosion of the tax base. On Friday, President Obama called on Congress to pass a law that would at least temporarily halt inversions, while a comprehensive corporate tax overhaul is pursued.
But advisers on Wall Street see little chance of any new legislation soon, and predict several more inversions will be announced this year. While most of the deals involve an American company taking full control of a foreign competitor and then relocating, new twists are emerging.
If completed, Hospira’s deal with Danone could be considered a “spinversion,” in which a foreign company spins off a unit to an American buyer, allowing it to undertake an inversion.
Recent examples of the practice include Mylan’s acquisition of a division of Abbott Laboratories, and Salix Pharmaceuticals’ deal to merge with Cosmo Technologies, the Irish unit of Cosmo Pharmaceuticals of Italy. Both of those deals will allow the American companies to move their domiciles to Europe.
Danone has been trying to sell its medical nutrition business for months, and had talked with Nestlé. It was not clear if Danone was still in talks with other companies, or if Hospira was zeroing in on a deal to move abroad.
dealbook.nytimes.com |
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| To: Sr K who wrote (3699) | 7/31/2014 2:21:05 PM | | From: Carey Thompson | | | | TE Connectivity was spun off by Tyco in July 2007. The original of the spinoff was Tyco Electronics. The spinoff was given the symbol TEL and traded on the New York Stock Exchange. Originally TEL was domiciled in Bermuda.
The name was changed to TE Connectivity afterwards, but the symbol remained the same. So TE Connectivity has traded on the NYSE since July 2007. |
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| From: Paul Senior | 8/1/2014 10:40:51 AM | | | | | | BYI. I'll speculate that BYI takeover gets completed within about 6-7 months for the announced $83 in cash.
Stock's now at about $78. That would be about a 6% return for that time. Which is okay for me at this time. I've upped my BYI position a bit now with view to add more as months pass and people lose interest in holding (and assuming there's no adverse news forthcoming).
finance.yahoo.com |
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| To: richardred who wrote (3652) | 8/5/2014 1:12:28 PM | | From: richardred | | | | My first speculative buy in quite some time. An addition to OMG-OM group. The company has had a recent disappointing QTR. It's trading near it's 52 week low. The company has sold off some old line businesses and payed down debt. Insiders only own 2%. IMO the price has come down where it looks to be a good target for a private equity, or a raider (shareholder enhancer). Adding to the speculative fuel, a hundred million in cash, no debt, good cash flow, and about 32 million shares outstanding. .
RE-recent PR. The company wants to grow through acquisition with its cash and leverage. IMO not a good strategy with publicly traded companies prices that are already high. IMO it would be much easier for someone to push this company to sell itself.
finance.yahoo.com |
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| From: Glenn Petersen | 8/6/2014 12:25:03 PM | | | | | | As Big Merger Deals Boom, So Do Big Failures
By WILLIAM ALDEN
DealBook
New York Times
August 6, 2014 12:03 pm
Deal making has boomed this year. So has deal breaking.
The two merger attempts that fell apart on Tuesday — Rupert Murdoch’s bid for Time Warner and Sprint’s pursuit of T-Mobile US — are just the latest examples of mergers that weren’t.
So far this year, $428.2 billion of deals have been withdrawn, according to Thomson Reuters data. That is the highest level for this period since 2007, when $566.8 billion of deals were withdrawn. And it far surpasses the level of withdrawn deals for all of 2013, which was $278.5 billion.
The data counts unsolicited offers as deals. In fact, unsolicited or hostile bids accounted for 73 percent of the stymied activity so far this year. The deal values as calculated by Thomson Reuters include net debt.
Biggest Withdrawn Deals
VALUE,IN BILLIONS - TARGET - BUYER - WITHDRAWN
Three of the major bids that haven’t gone through were unsolicited, including the $94.3 billion offer for Time Warner that 21st Century Fox withdrew on Tuesday. Another was Pfizer’s $122.3 billion bid for the British drug maker AstraZeneca, which Pfizer abandoned after it was rejected.
The third was Charter Communications’ $62.6 billion pursuit of Time Warner Cable. That bid was foiled when when Comcast struck a deal to acquire Time Warner Cable for a higher amount. (As it withdrew its bid, Charter did a series of deals to pick up subscribers that Comcast was divesting.)
Another obstacle has been regulators. In abandoning the effort to merge with T-Mobile US, Sprint and its corporate parent concluded that antitrust regulators would not look kindly on a major tie-up in the telecommunications industry, which is dominated by a few large players.
So far this year, $2.5 trillion of deals have been announced, according to Thomson Reuters. But 15 percent of those efforts were later withdrawn.
“This has clearly been the year of the big deal,” said Richard M. Jeanneret, the vice chairman of transaction advisory services for Ernst & Young in the Americas. “I think it’s natural to assume that bigger deals are harder to get done, for a variety of different reasons, from financing to shareholder approval to regulatory support. It’s possible that you could see more deals, if they’re sizable, get more scrutiny.”
But Mr. Jeanneret said he was still optimistic about the deal market, arguing that confidence was running high and deal makers were anxious to act on long-delayed plans.
“Any time you’ve got momentum — and I think the momentum in this market is born out of confidence — I think you’re going to see bigger deals get done,” he said. “Others will try. You’ll see more things attempted.”
dealbook.nytimes.com |
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| From: richardred | 8/6/2014 1:36:52 PM | | | | | | OT- While cleaning the basement today. I found my first page interview for Individual Investors, for the magazine interview. I was in the running for the magazine shoot, but didn't make the final cut. The II site was owned by Juno Steinberg. The son of renowned investor Saul Steinberg, and husband of Maria Bartiromo. As I recall,It was near end of the dot com bubble the sight ended, and the magazine was sold to Kiplingers. It was upon it's demise. I decided to accept an SI invitation. This after reading and conferring with Jack Hartman on his impressive Quarter to Quarter Aggressive Growth Stocks board.
P.S. I wish I'd had hung on to that Perrigo stock. <G> Boy how the time does fly. I'm a lot older and grayer now, but the investing passion is still there. We did horse races back at II. Similar to what Elroy and Taro are doing to day at Picks of the Qtr. IMO contests keep you on your toes.
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