Inside these posts: U.S takeover targets

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Oct. 12, 2010 at 7:48 p.m.
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Filed under: M&A, Retail, Stock activity

OfficeMax shares soar on takeover chatter

By Sandra M. Jones

OfficeMax Inc. shares rose 9.3 percent to $15.69 in heavy trading Tuesday after a J.P. Morgan analyst said that the office supply company was ripe for a leveraged buyout.

The Naperville-based retailer is undervalued compared to its larger rivals Staples Inc. and Office Depot Inc., analyst Christopher Horvers said in the report. Even though OfficeMax is five years into a turnaround effort, there is still plenty of room left to restructure the business, he said. The report valued OfficeMax at $28 a share, citing the company’s cash pile along with a slew of expiring leases that would allow OfficeMax  to move to higher traffic locations and open smaller, more productive stores. Get the full story »

Oct. 4, 2010 at 10:56 a.m.
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Filed under: Banking, M&A

Analyst: Northern Trust easy pickings

The Street |  Saying U.S. assets are attractive to Swiss banks, Rochdale analyst Richard Bove says Credit Suisse should buy Northern Trust.  He cites the Chicago institution’s cash balance and inability to “withstand a takeover bid.”