General Electric Company (NYSE: GE) might be getting to look into the eyes of private equity quite a bit closer now. Lee Equity Partners has brought on Robert C. Wright, Vice Chairman and Director of G.E., to serve the firm in the role of Senior Advisor.
Audible Inc. (NASDAQ: ADBL) is being downgraded today to "Hold" from "Buy" at Citigroup, although this is just after the run-up from the acquisition announcement and isn't really indicative of anything besides the exit call.
Warren Buffett be darned. There is a report today that a "Bond Insurer Rescue Package" is coming from major U.S., Candian, and maybe U.K. banks. The banks need to save their own skin and remember "financial mergers may be mandated rather than preferred" is our theory. Ambac Financial Group (NYSE: ABK) and MBIA Inc. (NYSE: MBI) are ramping solidly on this today.
I'd really pay attention to IAC/Interactive Corp. (NASDAQ: IACI) this morning on the heels of the largest Internet merger ever that was announced this morning.
Keeping up with Rio Tinto plc (NYSE: RTP) is starting to look like counting the votes in the Iowa caucus. This merger goal and action is changing daily. It is obvious these metals and mining firms are trying to consolidate into just a few major international players so they can control the supply side of the equation to influence prices. Is that a conspiracy theory? Remember, OPEC already does that.
Motorola Inc. (NYSE:: MOT) has finally capitulated and is putting its cell phone operations up for grabs.
Sprint NexTel Corp. (NYSE: S) is writing off almost the entire kit and kaboodle for what it paid for NexTel.
Jon C. Ogg is partner and editor of 247WallSt.com.
M&A Beat: February 1, 2008
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Reader Comments (Page 1 of 1)
2-02-2008 @ 10:23PM
Robert Manetta said...
Sprint deserves the write off on Nextel. My service was very good when Nextel was Nextel, once Sprint bought them my service became terrible. I would get voice messages a day or two later, my phone wouldn't ring and then I would get a message. As a realtor it hurt biz. When I called to complain they told me that in my area I needed to upgrade to get better service. I called a few times. Hey SPRINT can you hear me NOW???????