Inside these posts: Mergers

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Newsweek chairman Sidney Harman dies

Audio equipment businessman Sidney Harman, who bought Newsweek magazine last year and oversaw its merger with The Daily Beast, has died in Washington. He was 92.

Nasdaq faces hurdles in winning NYSE, say experts

Nasdaq OMX Group Inc.’s possible counterbid for NYSE Euronext faces some big hurdles, including funding a complicated deal and convincing Big Board shareholders that it’s better than Deutsche Boerse’s offer, experts said. Get the full story »

CME senior exec confident about U.S. position

The proposed combination of Europe’s biggest futures markets will do little to help NYSE Euronext and Deutsche Boerse AG compete against CME Group Inc. in the U.S., a senior CME executive said Tuesday.

“Putting together their pools of liquidity doesn’t really create competitive advantages for them,” said Jamie Parisi, chief financial officer for the Chicago-based exchange company, speaking at an event hosted by Raymond James. Get the full story »

Loyola to sell medical center to Trinity Health

Amid the rapidly changing health care landscape that demands large amounts of cash to provide consumers with the latest bells and whistles, Loyola University Chicago said Friday afternoon that it will get out of the hospital business by selling its medical center complex to a large national Catholic hospital operator.

The market is demanding more from hospital operators to stay competitive. By merging, hospitals can pool capital to buy new computer systems, electronic record-keeping systems and the latest medical technology something that Loyola executives say will be easier as part of a larger entity. Get the full story »

Merger wave only just begun, says LSE head

The recent wave of exchange mergers marks an era of consolidation that will leave no more than four global trading firms in five years’ time, said Xavier Rolet, the chief executive of the London Stock Exchange. Get the full story »

Brazilian exchange operator not in talks with CME

Brazilian exchange operator BM&FBovespa is not in merger talks with Chicago-based exchange operator CME Group but expects their partnership to expand in the near future, BM&FBovespa Chief Executive Edemir Pinto said on Friday.

His remarks followed a frenzied week of merger announcements by exchanges around the world as bourses move to strengthen ties in the face of tough competition at home. Get the full story »

Hong Kong exchange could consider CBOE merger

(Tim Boyle/Bloomberg)

Hong Kong Exchanges and Clearing Ltd. may knock on the doors of the tech-heavy Nasdaq or Chicago’s CBOE as the world’s most valuable stock exchange operator eyes a partner amid a frenzy of merger activity engulfing the sector.

Despite their geographical proximity, political, economic and organizational challenges make any potential marriage between the HKEx and the Shanghai or Shenzhen stock exchanges difficult.

“If I am the Hong Kong exchange, I would be trying to approach the bigger U.S. stock exchanges like Nasdaq right now,” said Ronald Wan, managing director of the Hong Kong unit of China Merchants Securities. Get the full story »

CBOE: All U.S. exchanges need to consider mergers

The U.S. exchanges left out of this week’s flurry of announced acquisitions now need to consider whether they, too, should strike a deal, a CBOE Holdings Inc. executive said on Friday. Get the full story »

CFO of CME Group still digesting merger news

CME Group Inc. is still digesting the news that Deutsche Boerse is in talks to buy NYSE Euronext, a top executive said, and it is unclear how difficult a deal it will be to complete. Get the full story »

CBOE a top target in exchange merger mania

CBOE Holdings and Nasdaq OMX Group may scramble to find deal partners as global exchanges’ merger mania returns with a bang.

Germany’s Deutsche Boerse announced on Wednesday it was in advanced talks to buy NYSE Euronext, hours after the London Stock Exchange said it had agreed to buy Canadian stock market operator TMX.

The deals sent shares of exchanges up across the board as investors bet more is to come. Get the full story »

Alberto Culver settles suit over takeover

Alberto Culver has agreed to settle a shareholder lawsuit over the beauty care company’s proposed $3.7 billion takeover by Unilever NV, lawyers for the investors said.

The settlement is designed to address concerns that the merger agreement might have dissuaded prospective competing acquirers from making better takeover bids, the shareholders’ lawyers said. Get the full story »

Metropolitan Bank Group to consolidate 11 banks

Metropolitan Bank Group said it plans to merge Edens Bank, First Commercial Bank and Northwest Community Bank into North Community Bank and merge Community Bank of DuPage, Metropolitan Bank & Trust and Chicago Community Bank into Citizens Community Bank, which will be renamed Metrobank. Get the full story »

UAL, Continental close deal to form No. 1 airline

Continental Airlines CEO Jeff Smisek walks through Terminal C of Houston Intercontinental Airport to catch a flight to Chicago on Sept. 23, 2010. (Tribune)

United Airlines closed its merger with Continental Airlines Friday to create the world’s largest airline, called United Airlines. The stock begins trading this morning under the symbol UAL. The holding company formed from the all-stock merger will be called United Continental Holdings Inc.

The two airlines will begin marketing as one company in the spring. In the meantime, travelers will see United employees at United kiosks and Continental employees at Continental kiosks, depending on which carrier is handling the flight.

The company is working to combine frequent flyer programs. In a call with reporters, Smisek underscored, “your miles are safe.” Get the full story »

Moody’s raises its ratings on UAL Corp.

Moody’s Investors Service raised its ratings on UAL Corp. a notch, finishing the review of the airline it begun when the parent of United unveiled its deal to merge with Continental Airlines Inc. Get the full story »

United, Continental defeat effort to block merger‎

From BusinessWeek | UAL Corp.’s merger with Continental Airlines Inc. won’t create a monopoly and shouldn’t be blocked on antitrust grounds, a federal judge ruled, helping to clear the way for the deal’s completion.