DoomwatchTM vs. Timesizing®
[Commentary] ©1999 Phil Hyde, The Timesizing Wire, Box 622, Cambridge MA 02140 USA (617) 623-8080


Mergers&Acquisitions - November-October/99

11/30/99  13 takeovers reported (totaling $695.2m + $undisclosed) -
  1. European retailing deal [- Dixons Group (UK) to buy last 41% of Elkjop (Norway) it doesn't own for $292m], Bloomberg via NYT, C4.
  2. Cumulus Media plans to buy 35 radio stations [from Connoisseur Communications for $242m], Reuters via NYT, C4.
  3. G.E. makes [$81.2m] deal to buy Mecon, a software maker, Bloomberg via NYT, C4.
  4. Canadian telecommunications deal [- AT&T Canada to buy the TigerTel unit of Applied Digital Solutions for $47m], Dow Jones via NYT, C4.
  5. Papa John's International Inc. [pizza bought Perfect Pizza Holdings Ltd. of Britain for $33m], NYT, C4.
  6. No more giveaway computers. Free-PC to be bought by eMachines for $??, by Saul Hansell, NYT. C1.
  7. Endo Pharmaceuticals agrees to acquire Algos [for $?], Bloomberg via NYT, C4.
  8. Cox Broadcasting to buy San Francisco TV station [for $?], Bloomberg via NYT, C4.
  9. CK Witco selling European industrial dye operations [for $?], Dow Jones via NYT, C4.
  10. AltaVista is buying Raging Bull, financial website [for $?], Bloomberg via NYT, C4.
  11. 3M buys Polaroid's anti-glare screen business [for $?], Bloomberg via NYT, C4.
  12. Culver Holdings PLC [(Wales) said its subsidiary WorldTravel Direct had bought Powerflyer.com (Calif.) for $?], NYT, C4.
  13. Insurance venture in Japan [- Nippon Dantai Life Insurance and AXA (France) to set up joint holding co. to acquire Nippon Dantai & AXA's Japanese unit for $?], Reuters via NYT, C4.
[1 Sunday takeover]
11/28 Internet equipment maker planning to make a $4.3b acquisition [- Redbacks Networks to buy Siara Systems] - Lacking products or money, technology concerns can still fetch high prices, by Laura Holson, NYT, A18.
[...until the bubble bursts. "Oh but this is no bubble. It's the biggest stock boom in history!" Wakey, wakey, EVERY stock bubble (e.g., 1929, 1720's South Sea Bubble...) was the biggest stock "boom" in history up to its time - until it burst.]

11/27  6 takeovers reported (totaling $16.0115B + $undisclosed) -

  1. TV Guide Inc. [is being bought by Gemstar International Group for $9.2b], NYT, B4.
    [Curiously, this duplicates coverage below on 10/05/99 - as we noticed only on 9/28/2000 with no time to adjust the chain of totals. (Why the nearly 2-month gap?)]
  2. British media merger [- Carlton Communications and United News and Media in $6.5b deal], by Andrew Sorkin, NYT, B3.
  3. Dismay at Russian oil sale [- Tyumen Oil bought bankrupt Chernogorneft for $176m], Reuters via NYT, B3.
  4. Worldwide Sports agrees to [$85m] purchase of Bolle, Bloomberg via NYT, B4.
  5. Bank merge in India [- HDFC Bank to buy Times Bank for $50.5m], Bloomberg via NYT, B3.
  6. Sovereign Specialty Chemicals L.P. [(SSC LP), to sell 75% of SSC Inc. for $??], NYT, B4.
11/25  7 takeovers reported (totaling $883m + $$undisclosed) -
  1. Unilever to buy Amora Maille [for $745m], Dow Jones via NYT, C4.
  2. For lobbyist, times they are a changin' - [Shandwick International's $80m] Cassidy & Co. acquisition is latest example of 'globalization', by Anne Kornblut, Boston Globe, A71.
  3. HW Group agrees to be acquired by TMP Worldwide [for $57.9m], Reuters via NYT, C2.
  4. Columbia Energy Group [to sell its energy-trading business to Enron for $??], NYT, C2.
  5. SFX Entertainment Inc. [bought SME Power Branding for $??], NYT, C2.
  6. Progressive Corp. [has bought Barry Scott Agency insurance for $??], NYT, C2.
  7. [For $??, American Bank of] Connecticut...buys 3 FleetBoston branches, Dow Jones via Bos Globe, A79.
11/24  9 takeovers reported (totaling $3.509b + $undisclosed) -
  1. Delphi Automotive buying TRW's Lucas Diesel [for $871m], AP via NYT, C4.
  2. Investment firm acquired [- Alpinvest in Holland got (unrefusable?) $769m offer from GIMV in Belgium], Bloomberg via NYT, C4.
  3. Weyerhaeuser to purchase wood products partner [TJ International, for $720m], Reuters via NYT, C4.
  4. Amcol selling absorbent plastics business [Chemdal, for $657m] to BASF, Dow Jones via NYT, C4.
  5. Cooper Tire and Rubber agrees to buy Siebe Automotive [for $245m], Bloomberg via NYT, C4.
  6. Lycos in agreement to buy Internet games company [Gamesville.com, for $207m], Bridge via NYT, C4.
  7. Pioneer Natural Resources Co. [bought producing oil and gas fields in Argentina for $40m], NYT, C4.
  8. Prudential Insurance Co. of America [to buy 51% of Apolo fund mgmt in Mexico for $??], NYT, C4.
  9. Exodus in Japanese deal [to buy Global OnLine Japan for $??], Bloomberg via NYT, C2.
11/23  17 takeovers reported (totaling $5.877b + $undisclosed) -
  1. [For $2.4b, Flextronics International, a] Singapore concern is buying DII Group, Dow Jones via NYT, C4.
  2. Whitbread to buy Swallow [Group for $935.9m], by Alan Cowell, NYT, C4.
  3. Efficient Networks buying Cabletron subsidiary [Flowpoint, for $860.6m], Bloomberg via NYT, C4.
  4. Potomac Electric acquires [17] Dutch gas distributors [from 4 local governments for $525m], Bloomberg via NYT, C4.
  5. Digital Insight agrees to purchase NFront [web banking software, for $439m], Bloomberg via NYT, C4.
  6. GoTo.com, Internet search service, buying Cadabra [for $250m], Bloomberg via NYT, C4.
  7. Telemonde agrees to buy Global Communications [Holdings of Britain for $160m], Bloomberg via NYT, C4.
  8. Bolivian gas unit is sold [- San Antonio-based Tesoro Petroleum's natural gas exploration unit to be sold to BG PLC for $100m], Bloomberg via NYT, C4.
  9. JDS Uniphase Corp. [to buy SIFAM Ltd. of Britain for $97.2m], NYT, C4.
  10. [Icon Medialab International,] Swedish Internet consultant buying American rival [Nicholson NY, for $76m], Bloomberg via NYT, C4.
  11. InfoSpace.com acquisition [- to buy eComLive.com for $33.5m], Bloomberg via NYT, C8.
  12. Abbott Laboratories buys Glaxo anesthesia products [/brands, including Ultiva & 4 muscle relaxants, for $??], Reuters via NYT, C4.
  13. Pepsi Bottling Group Inc. [to buy Pepsi-Cola Bottling Co. of Bainbridge, Ga. for $??], NYT, C4.
  14. Penn National Gaming Inc. [to buy all the assets of 2 Miss. casinos from Hollywood Park Inc. for $??], NYT, C4.
  15. Public relations units merging [- Omnicom Group to merge Copithorne & Bellows PR in San Francisco with Porter Novelli in NYC to create Porter Novelli Convergence Group, for $??], by Stuart Elliott, NYT, C4.
  16. SBC, Prodigy to join on-line businesses [- combine their Internet units], Bloomberg via Boston Globe, D2.
  17. [For $??, Manufacturers' Services Ltd., a] Concord [MA] company buys PalmPilot operations, by Ronald Rosenberg, Bos Globe, D10.
11/20  7 takeovers reported (totaling $472.8m + $undisclosed) -
  1. Ziff-Davis is selling [its 64% of] ZDTV to Vulcan Ventures [for $204.8m], Bloomberg via NYT, B3.
  2. Carrier to acquire Electrolux refrigeration business [for $145m], Dow Jones via NYT, B3.
  3. Calico buying ConnectInc.com for $90m in stock, Dow Jones via NYT, B3.
  4. Wells Fargo & Co. [to buy Napa National Bancorp for $33m], NYT, B3.
  5. E*Trade Group is buying its second European affiliate [E*TradeNetBourse, for $??], Bloomberg via NYT, B3.
  6. ABN Amro adds Pitney Bowes mortgage servicing unit [Atlantic Mortgage Investment Corp., for $??], Bloomberg via NYT, B3.
  7. [$??] Sale of [assets of GM] financial holding to Arthur Andersen is set, Reuters via NYT, B3.
11/19  13 takeovers reported (totaling $4.263B + $undisclosed) -
  1. Imasco drugstore business sold [- Shoppers Drug Mart sold by Imasco tobacco to Kohlberg Kravis Roberts-led group for $1.7b], by Timothy Pritchard, NYT, C4.
  2. [For 253+387 = $640m, Millennium & Copthorne, a] London company to buy [28] Regal hotels in U.S., by Edwin McDowell, NYT, C5.
  3. [$460m Arbitrade Holdings] purchase to put Knight/Trimark in options business, Reuters via NYT, C4.
  4. Siebel Systems to acquire OnTarget for $259m, Bridge News via NYT, C4.
  5. Baxter International buying North American vaccine [for 257+133= $390m], AP via NYT, C4.
  6. SPX to sell Best Power unit to Invensys [for $240m], Bridge News via NYT, C4.
  7. [Critical Path,] S.F. firm buys FaxNet for $200m in stock, cash, by Hiawatha Bray, Boston Globe, D7.
  8. Legato Systems signs deal to acquire Ontrack Data [for $134m], Reuters via NYT, C4.
  9. Gucci buys shoes [- 70% of Calzaturifico Sergio Rossi - for $96m], by John Tagliabue, NYT, C4.
  10. Cygnus to sell drug delivery business to Ortho-McNeil [for $75m], Dow Jones via NYT, C4.
  11. Whitney Holding Corp. [to buy Bank of Houston for $58m], NYT, C4.
  12. N.Y. drug maker sells Cambridge-based unit [- OSI Pharmaceuticals sells diagnostic business including Oncogene Science Diagnostics unit to Bayer for $11m], by Ronald Rosenberg, Bos Globe, D7.
  13. Reuters Group [in London bought 84% of TowerGroup in Needham, Mass. for $??], NYT, C4.
11/18  10 more takeovers reported (totaling $1.662B + $undisclosed) -
  1. Kimberly-Clark agrees to buy Safeskin [for $850m], Bloomberg via NYT, C4.
  2. Pegasus to acquire reservation systems provider [REZsolutions, for 250+20= $270m], Dow Jones via NYT, C4.
  3. Ziff-Davis to sell unit to Wasserstein for $172m, Bloomberg via NYT, C4.
  4. BB&T to buy Hardwick Holding for $138.7m, Bloomberg via NYT, C4.
  5. Accrue to acquire NeoVista [software] for $140.3m, Bloomberg via NYT, C4.
  6. Lone Star Technologies to buy Fintube assets [for $86m], Dow Jones via NYT, C4.
  7. SatCon Technology buys Northrop Grumman [power electronics products business unit for 570,000x8 27/32= $5m], Dow Jones via Boston Globe, C10.
  8. Wells-Gardner Electronics Corp. [to acquire the assets of American Gaming and Electronics for $??], NYT, C4.
  9. Waste Industries expands [- acquired 4 firms this wk for $??: Southern Waste Services, Quick-Way Salvage, Jerry's Sanitation, Matthews Sanitation Service], Bloomberg via NYT, C15.
  10. [For $??, Reuter Group PLC's] Instinet buys brokerage Lynch, Jones & Ryan, Bloomberg via Bos Globe, C2.
11/17  10 takeovers reported (totaling $12.687B + $undisclosed) -
  1. Comcast to purchase Lenfest Communications [from AT&T for $6.71B], Bloomberg via NYT, C9.
  2. Bayer buys Lyondell unit [that makes plastic ingredients, for $2.45B], Bloomberg via NYT, C4.
  3. Quest will close some labs, lay off up to 2,500 people [after completing $1.3B purchase of SmithKline Beecham's clinical labs in Aug. - but not counted then], Quest via NYT, C4.
  4. Top TV station in San Francisco is sold [- KRON-TV sold by Chronicle Publishing to Young Broadcasting for $823m], Bloomberg via NYT, C10.
  5. Warnaco to buy Authentic Fitness for $426.1m [+105m debt = $531.1m total], Dow Jones via NYT, C4.
  6. E.piphany agrees to acquire RightPoint [for $393.8m], Dow Jones via NYT, C4.
  7. Faurecia buys APAS, an exhaust systems supplier [for $340m], Reuters via NYT, C4.
  8. VerticalNet to acquire Necx Exchange [for $95m+10m+10m = $115m total], Bloomberg via NYT, C4.
  9. NetZero Inc. [to buy AimTV for $24.5m], NYT, C4.
  10. Bank Bali taken over [by Indonesia's Bank Restructuring Agency from Standard Chartered of Britain - any $$ change hands??], by Wayne Arnold, NYT, C4.
11/16  17 takeovers reported (totaling $5.119b + $undisclosed) -
  1. Deutsche Post buys Air Express International [of Conn. for $1.14b], AP via NYT, C4.
  2. Gucci purchases control of Yves Saint Laurent [in $700m+268m deal for Sanofi Beauté from French billionaire François Pinault - Further consolidation in luxury goods], by John Tagliabue, NYT, C6. [So now there's too many companies looking for too many sales from too few rich people.]
  3. Red Hat says it will buy Cygnus Solutions [for $674m], Reuters via NYT, C4.
  4. Earthgrains will buy a rival, Metz Baking [for $625m], Reuters via NYT, C4.
  5. Ariba is buying auction software maker [TradingDynamics, for $400m], Reuters via NYT, C4.
  6. Southern Union to acquire Providence Energy [for $259m + $140m debt = $399m], Dow Jones via NYT, C4.
  7. Internet concern [Ask Jeeves, for $288.1m] agrees to buy Net Effect Systems, Bloomberg via NYT, C4.
  8. Arcadia Financial bought by Associates First Capital [for $200m], AP via NYT, C4.
  9. Charming Shoppes buys women's apparel retailer [Catherine Stores, for $150m], Dow Jones via NYT, C4.
  10. Buyout company [Saunders, Karp & Megrue, for $140m] acquires Marie Callender's [Restaurant & Bakery] chain, Bloomberg via NYT, C4.
  11. Infogrames [of Paris gets 70%] control of GT Interactive [of New York for $135m = 2 videogame software houses merge], Bloomberg via NYT, C13.
  12. Intel Corp. [bought Parity Software Development for $??], NYT, C4.
  13. LVMH buys watch maker [Swiss-based Zenith International, for $??], AP via NYT, C4.
  14. UPS to buy Rollins [Truck Leasing's fleet-management] unit [for $??], Bloomberg via NYT, C13.
  15. Two [advertising] companies in consolidations [for $??, e.g., Zuckerman/Lightcap Group merging with Christopher Thomas Assocs.], by Stuart Elliott, NYT, C14.
  16. Two companies in consolidations [for $??, e.g., Landor Assocs. unit of Young & Rubicam bought Seta, Appleman & Showell], by Stuart Elliott, NYT, C14.
  17. Forrester Research buys UK research firm [Fletcher Research, for $??], Bloomberg via Boston Globe, C9.
11/15  2 weekend takeover reports (totaling $1.8b + $undisclosed) -
  1. Corning will acquire a laser maker [Oak Industries, for $1.8b], Bloomberg via NYT, C10.
  2. Three giant advertising agencies take actions to accommodate their growth in the global market [e.g., McManus Group in New York is taking a majority stake in Buhler & Partners in Frankfurt for $??], by Stuart Elliott, NYT, C20.
11/13  7 takeovers reported (totaling $492.7m + $$undisclosed) -
  1. Seoul Hilton to be sold [to CDL Hotels International of Hong Kong for $228.5m], AP via NYT, B2.
  2. Tripoint Global to acquire Vertex Communications [for $118.7m], Dow Jones via NYT, B3.
  3. Neff agrees to sell machinery division [Neff Machinery] to Nortrax [for $91m], Dow Jones via NYT, B3.
  4. NBTY Inc. [to buy Nutrition Warehouse & its affiliates for $29.5m], NYT, B3.
  5. Palatin Technologies to add Molecular Biosystems [for $25m], AP via NYT, B3.
  6. Coventry Health Care Inc. [to buy PrimeOne from Anthem for $??], NYT, B3.
  7. Ferrari in [$??] deal to buy rest of Maserati [i.e., remaining 50%], Bloomberg via NYT, B2.
11/12  12 takeovers reported on the 12th (totaling $3.121b + $$undisclosed) -
  1. Celltech [Chiroscience] makes purchase [of Medeva, another Brit pharmaceutical, for $1.07b], by Andrew Sorkin, NYT, C3.
  2. Solutia to buy Vianova Resins for $640 million, Dow Jones via NYT, C3.
  3. BP Amoco to increase stake in Crescendo Resources [from 41 to 75% for $500m], AP via NYT, C3.
  4. Times buy of paper in Worcester OK'd [by regulators - NYT buys Telegram & Gazette for $295m], AP via Boston Globe, C3.
    ...Besides the Globe [in Boston & now the Telegram in nearby Worcester, Mass.], the Times owns 21 regional newspapers.... [so what good are regulators???]
  5. N.Y. energy concern buys Berkshire Energy [for $96m + $40m debt = $136m], AP via Bos Globe, C5.
  6. Cisco Systems to acquire V-Bits for $128m, Dow Jones via NYT, C3.
  7. DynamicWeb to acquire eB2B for 25 million shares [worth $118.8m], Bloomberg via NYT, C3.
  8. BEA Systems gains on [$100m] Theory Center buy, Bloomberg via Bos Globe, C5.
  9. Quest Software to buy Foglight for $83.4 million, Bloomberg via NYT, C3.
  10. ShopNow.com to acquire SpeedyClick for $50m, Bloomberg via NYT, C3.
  11. Banco Santander of Spain will acquire 2 Portuguese banks [Banco Totta e Açores & Crédito Predial Português, for $undisclosed], by Al Goodman, NYT, C3.
  12. Food retailer to sell stores [- Somerfield in UK to sell much of its Kwik Save division along with its biggest supermarket outlets, to ?? for $??], by Alan Cowell, NYT, C3.
    ...acknowledging that its 1998 acquisition of Kwik Save stores had been disappointing....
    [= another firm disappointed after being suckered by merger mania.]
11/11  6 takeovers reported (totaling $473m + $$undisclosed) -
  1. Freeman Spogli to buy [70%] stake in Medical Arts Press [for $277m], Bloomberg via NYT, C4.
  2. BEA Systems to buy Theory Center for $100m, Bloomberg via NYT, C4.
  3. Energy East in $96m deal for Berkshire Energy, Reuters via NYT, C4.
  4. [$??] Deal by United Dominion [pumps etc. for Kelley Co. dock tools], Bloomberg via NYT, C27.
  5. Harvard Pilgrim sells workers' comp business [for $??], by Steven Wilmsen, Boston Globe, C9.
  6. Keane buys Va. company [Anstec Inc., for $??], Dow Jones via Bos Globe, C9.
11/10  10 more takeovers reported (totaling $1.207b + $$undisclosed) -
  1. Cisco Systems's sales surge and profit meets forecasts - Company is acquiring wireless concern [Aironet Wireless Communications, for $799m], by Lawrence Fisher, NYT, C2.
  2. Four agencies make deals in health care [e.g., Cordiant Communications Group in London to buy Healthworld in New York for $185.4m], by Jane Levere, NYT, C10.
  3. Advantica to sell El Pollo Loco unit for $114m [+ $14m in debt to an affiliate of American Securities Capital Partners], Dow Jones via NYT, C4.
  4. Public Service Enterprise buys [70%] stake in Prisma [2000 S.P.A. in Italy for $80m], Bloomberg via NYT, C4.
  5. Emmis Communications Corp. [bought 2 radio stations in Buenos Aires for $15m], NYT, C4.
  6. Procter & Gamble sells [Prell] shampoo unit to Prestige [Brands International Inc. for $??], Bloomberg via NYT, C4.
  7. Hopkins Manufacturing [bought the fuel-handling division of FloTool Corp. for $??], NYT, C4.
  8. Four agencies make deals in health care [e.g., Grey Healthcare Group bought Consumer Health Sciences for $??], by Jane Levere, NYT, C10.
  9. Four agencies make deals...[e.g., Ogilvy Public Relations Worldwide bought Feinstein Kean Partners healhtcare & biotech PR in Cambridge MA for $??], by Jane Levere, NYT, C10.
  10. Four agencies...[e.g., Lowe Healthcare Worldwide bought International Pharmaceutical Research for $??], by Jane Levere, NYT, C10.
11/09  10 takeovers reported (totaling $8.363b, all $$ disclosed!) -
  1. Sierra Pacific buying a unit of Enron [Portland General Electric, for $2.02b+1.08 debt = $3.1b total], Reuters via NYT, C4.
  2. RMC makes offer for Rugby [this over-tentative title should read "RMC Group to buy Rugby Group for $1.45b"], by Andrew Sorkin, NYT, C4.
  3. Arch Communications to take over Paging Network [for $1.36b], Bloomberg via NYT, C4. [The value of this takeover was down to $985m by 11/11/00 when the deal was clinched, according to "Buyout makes Arch top US paging firm," by Peter Howe, 11/11/00 Boston Globe, C1.]
  4. Rural Cellular to acquire closely held Triton [for $1.24b], Reuters via NYT, C4.
  5. Ferrellgas Partners to get unit of Williams Energy [for $432.5m], Dow Jones via NYT, C4.
  6. First Charter adding Carolina First Bancshares [for $260m], Dow Jones via NYT, C4.
  7. Midcoast Energy sets deal to add Kansas Pipeline [for $190m], Bloomberg via NYT, C4.
  8. Prodigy to buy rival FlashNet Communications [for $124m], Bloomberg via NYT, C4.
  9. Autocam in buyout led by Aurora Capital Group [for $121m], Dow Jones via NYT, C4.
  10. Johnson & Johnson buys Innovasive Devices [for $85m], Boston Globe, D11.
11/08  2 takeovers reported on a Monday! (both $$undisclosed) -
  1. 2 agencies make acquisitions [- e.g., Western Initiative Media Worldwide of NYC to buy Botway Group of NYC for $??], NYT, C22.
  2. 2 agencies make acquisitions [- e.g., Maxxcom of Toronto has bought Accent Marketing of Louisville for $??], NYT, C22.
11/06  AGAIN, 8 Takeovers Reported (4th day in a row, & today totalling $2.732B + $undisclosed) -
  1. Tarmac accepts new bid [- of $1.96b from Anglo American], by Andrew Sorkin, NYT, B2. [...thus reversing the rejection of 11/02.]
  2. Investcorp is in $303 [+230 debt = $533] million deal for Synthetic [Industries], Dow Jones via NYT, B3.
  3. Compass Bancshares to acquire Megabank Financial [for $96m], Dow Jones via NYT, B3.
  4. Hilton Group to sell Golden Gate Fields racetrack [for $77m], Dow Jones via NYT, B3.
  5. Starwood to sell [Ritz Carlton] Kansas City Hotel for $61m [to Maritz, Wolff & Co.], Bloomberg via NYT, B3.
  6. Commerce One buys CommerceBid.com for stock [worth $?? and $4.5m] cash, Bloomberg via NYT, B3.
  7. Group 1 Automotive Inc. [to buy dealerships that have about $1b in revenue], NYT, B3.
  8. SBC in wireless purchase [of Radiophone Inc. for $??], Bloomberg via NYT, B6.
11/05  Again, 8 Takeovers Reported (totalling $18.397B + $undisclosed) -
  1. Italian insurance merger [- Assicurazioni Generali to buy Istituto Nazionale delle Assicurazioni for $12.5b], Bloomberg via NYT, C4.
  2. JDS to buy supplier for $2.8 billion in stock, Reuters via NYT, C4.
  3. KeySpan to buy Eastern Enterprises for $1.7 [+ .8 debt = 2.5] billion, Reuters via NYT, C4.
  4. Giant Cement accepts $276 [+ 67.4 debt = 343.4] million offer from rival [Cementos Portland, of Spain], Bloomberg via NYT, C4.
  5. MCN Energy to sell 95% stake in 4 plants to DTE Energy [for $152m], Bloomberg via NYT, C4.
  6. CoStar Group to buy Comps.com for $102m, Bloomberg via NYT, C4.
  7. HealthGate web deal [- G.E. to buy Snap.com & Xoom.com from Cnet for $?? & merge them with GE unit called NBC to form NBC Internet (NBCi)], Bloomberg via NYT, C18.
  8. Plymouth Rock buys Amherst [Mass.] insurance firm [Blair, Cutting & Smith, for $??], by Bruce Mohl, Boston Globe, C5.
11/04  8 More Takeovers Reported (total $71.41B + $undisclosed) -
  1. 2 drug giants seen in a $70 billion deal [- American Home Products & Warner-Lambert to merge "as equals"], leader, NYT, front page & article by Morrow and Holson, NYT, C1.
  2. Group Maintenance to acquire Building One [for $370m+570m debt=total $940m], Dow Jones via NYT, C4.
  3. Wells Fargo will buy Michigan Financial Corp. [for $206m], AP via NYT, C4.
  4. American Greetings to buy rival card company Gibson [for $162.3m], Reuters via NYT, C4.
  5. Liberty Corp. unit buys TV station in Texas [for $59.8m], Bloomberg via NYT, C4.
  6. Micromuse will buy Calvin Alexander Networking [for $42m], Bloomberg via NYT, C4.
  7. Dupont Photomasks Inc. [to buy IBM's European photomask operations for $??], NYT, C4.
  8. Raytheon to sell [microelectronics] unit [to Imrex of Long Is. for $??]; layoffs due - Firm criticized on Quincy deal, by Ross Kerber, Boston Globe, front page.
11/03  8 Takeovers Reported (total $250m + $$$$$$$undisclosed) -
  1. Claire's Stores to buy rival chain Afterthoughts [for $250m], Bloomberg via NYT, C4.
  2. Dana selling Warner Electric Holdings to Colfax [for $??], Dow Jones via NYT, C4.
  3. Winn-Dixie agrees to sell some stores to Kroger [for $??], Bloomberg via NYT, C4.
  4. Solectron Corp. [bought 2 plants from Ericsson AB for $??], NYT, C4.
  5. Leo Group plans to acquire MacManus [for $??], by Laura Holson, NYT, C1.
  6. Acquisition by Cooper [of Crompton Lighting for $??], Bloomberg via NYT, C13.
  7. Mattel spins off unit [- sells its Learning Co. genealogy unit to A&E Television Networks & 3 other partners for $??], Bloomberg via Boston Globe, D2. [Note misuse of language here. You don't "spin off TO." You "sell to," or just "spin off" (a newly independent entity).]
  8. DuPont unit acquires Conn. bristle company [for $??], by Ronald Rosenberg, Bos Globe, D10.
11/02  9 Takeovers Reported (total $882m + $$undisclosed) -
  1. WIT Capital will purchase SoundView Technology [for $320m], Reuters via NYT, C4.
  2. Liberty [Media] to buy Four Media [Corp.] for $252m in stock, Dow Jones via NYT, C4.
  3. AlliedSignal to acquire TriStar Aerospace [for $184m], AP via NYT, C4.
  4. Leading tabloid publisher to buy a big competitor [- American Media, owner of The National Enquirer, to buy Globe Communications for $100m], by Alex Kuczynski, NYT, C1.
  5. Xeta Corp. [to buy U.S. Technologies Systems for $26m], NYT, C4.
  6. Textron acquires Intesys Technologies [for $??], Bloomberg via NYT, C4.
  7. Nash Foods agrees to buy unit of Fairway Foods [Fairway Foods of Michigan, a wholesale division, for $??], Reuters via NYT, C4.
  8. AT&T creates Latin unit [- merges Netstream in Brazil with FirstCom in Florida, for $??], by Simon Romero, NYT, C4.
  9. Atmel to buy chip plant [in Texas from Hitachi Semiconductor America for $??], Bloomberg via NYT, C3.
11/01/99  3 Hallowe'en Sunday takeovers (10/31) reported, totalling $3.3b + $??, to be counted this coming week -
  1. Pimco to sell a 70% stake to Allianz [Euro insurance giant, for $3.3b], Bloomberg via NYT, C8.
  2. 2 big U.S. law firms announce merger [- Piper & Marbury to merge with Rudnick & Wolfe into Piper Marbury Rudnick & Wolfe for $??], Bloomberg via NYT, C2.
  3. Advertising - This time it's Interpublic doing an internal merger to add another giant to Madison Avenue [- combining half its roster of global agency networks, Lowe & Partners Worldwide to take over Ammirati Puris Lintas & become Lowe Lintas, for $??], by Stuart Elliott, NYT, C16.
10/30/99  8 Takeovers Reported (total $481m + $$undisclosed) -
  1. Newell Rubbermaid adds unit of McKechnie of Britain [- consumer-goods unit for $133.7m], Bloomberg via NYT, B3.
  2. General Growth Properties buys mall in Houston [- Baybrook Mall from Rreef USA Fund-III, for $133m], Bloomberg via NYT, B3.
  3. American Water to buy SJW for $128m, Reuters via NYT, B3.
  4. Puma Technology acquires Proxinet for $86m, Dow Jones via NYT, B3.
  5. Microsoft buys Entropic, a maker of speech software [for $??], Reuters via NYT, B3.
  6. Motorola makes deal to increase wireless products [- buys Software Corp. of America for $??], Bloomberg via NYT, B3.
  7. Mikron Instruments Co. [bought thermal imaging division of Texas Infrared for $??], NYT, B3.
  8. Investment bank sells business [- Adams, Harkness & Hill sells its money mgmt unit to Daniel Wiener & Jim Lowell, 2 fund newsletter editors, for $??], Bloomberg via Boston Globe, C1.
10/29  6 Takeovers Reported (total $500m + $$undisclosed) -
  1. Citadel Broadcasting to acquire 36 radio stations [in 7 states for $190m], Dow Jones via NYT, C4.
  2. Dura Automotive to purchase Meritor seat unit [for $130m], Reuters via NYT, C4.
  3. SunSource will acquire Axxess Techologies [for $125m], Dow Jones via NYT, C4.
  4. Church & Dwight to buy household-cleaner brands [Clean Shower & Scrub Free, for $55m], Bloomberg via NYT, C4.
  5. [British] Vodafone bid [for (German) Mannesmann] is doubted [as Mannesmann buys (British) Orange PLC for $??], by Andrew Sorkin, NYT, C4.
  6. Health care agencies merged [- Wellness Worldwide is consolidating Lewis Gace Bozell & Dugan Farley Communications into Bozell Global Healthcare in NJ @$??], by Stuart Elliott, NYT, C7.
10/28  8 Takeovers Reported (total $2.97b + $$undisclosed) -
  1. Harmonic to buy Divicom unit of C-Cube [for $1.7b], Reuters via NYT, C4.
  2. AES buys controlling stake in Brazilian Energy concern [for $470m], AP via NYT, C4.
  3. Swedish bus company sold [to Norwegian firm by British corp. - Swebus sold to Concordia Bus/Sweden by Stagecoach Holdings for $165m+171m debt (total $336m)], Dow Jones via NYT, C4.
  4. Exodus Communications agrees to buy Service Metrics [for $280m], Bloomberg via NYT, C4.
  5. Lennox to acquire Service Experts for $157m, Dow Jones via NYT, C4.
  6. PLM International [will sell its American Finance Group unit to Temple-Inland for $29m], NYT, C4.
  7. Textron [in R.I. to buy Benzlers in Sweden for $?? to multiply its power transmission products], NYT, C4.
  8. Publicis acquires two agencies [in New York, Gramercy Group & Lobsenz Stevens, for $??], by Claudia Deutsch, NYT, C4.
10/27  9 Takeovers Reported (total $1.477b + $$undisclosed) -
  1. Capital Re agrees to sweetened takeover bid from ACE [of $511m], Reuters via NYT, C4.
  2. Burlington to buy ARCO fields for $304m, Bloomberg via NYT, C4.
  3. Ackerley to sell billboard business to Eller [for $300m], Dow Jones via NYT, C4.
  4. Fox-Paine to buy Watkins-Johnson for $270m, Bridge News via NYT, C4.
  5. Compagnie Générale to buy Geoscience for $67m, Dow Jones via NYT, C4.
  6. Cisco Systems to buy Tasmania Network for $25m, Bloomberg via NYT, C4.
  7. GTE sells [129,092] local phone lines in Oklahoma to DBA [for $??], Bloomberg via NYT, C4.
  8. Bamboo and Interactive Pictures agree to merge [for $??], Reuters via NYT, C4.
  9. Trading system deal [- Strike Technologies & Brass Utility to merge for $??], Dow Jones via NYT, C4.
10/26  12 Takeovers Reported (total $13.356b + $$undisclosed) -
  1. Berkshire Hathaway and others plan to buy MidAmerican Energy [for $2b + $7b in debt], Bloomberg via NYT, C4.
  2. European bank deal [- SEB in Scandinavia to buy BfG Bank in Germany from Crédit Lyonnais in France for $1.7b], Bloomberg via NYT, C6.
  3. Excite@Home to acquire Bluemountain - Up to $1 billion price for greeting-card site, by Leslie Kaufman, NYT, C1.
  4. Digital Island agrees to buy Sandpiper Networks [for $630m], Reuters via NYT, C4.
  5. British brewery deal [- Wolverhampton & Dudley Breweries to buy Mansfield Brewery for $419m], Dow Jones via NYT, C6.
  6. Stamps.com agrees to acquire Iship.com [for $305m], Bloomberg via NYT, C4.
  7. Diebold to buy Brazilian ATM maker [Procomp Amazonia Industria Electronica, for $225m], Dow Jones via NYT, C4.
  8. United Technologies buying engine supplier [Dallas Aerospace, from Fairfield Corp. for $57m], AP via NYT, C4.
  9. Newgen Results Corp. [to buy Computer Care for $11.2+9m], NYT, C4.
  10. Estée Lauder buys beauty-product maker, Jo Malone [for $??], Bloomberg via NYT, C4.
  11. Vail Resorts Inc. [to buy Vailnets for $??], NYT, C4.
  12. Vail Resorts Inc. [to buy Internetworks for $??], NYT, C4.
10/23  7 Takeovers Reported (total $3.553b) -
  1. [$2b] Central European wireless deal [- Deutsche Telekom to buy MediaOne's stakes in wireless phone systems in Russia - a controlling interest in the Russian Telephone Development Corp., Hungary - the remaining (minority) interest in Matav, & Poland, by Edmund Andrews, NYT, B2.
  2. Siemens unit is sold [- Siemens Nixdorf Retail & Banking Systems goes to Kohlberg Kravis Roberts & Co. for $790m], by Andrew Sorkin, NYT, B2.
  3. Interdent in merger deal valued at $325m [with some Interdent executives & a Leonard Green & Partners affiliate], Reuters via NYT, B3.
  4. Heinz adding United Biscuits' frozen foods [for $317m], Bloomberg via NYT, B3.
  5. Omnipoint set to take over East/West Communications [for $121m], Dow Jones via NYT, B3.
  6. Derlan of Canada buying Boeing Aircraft Gear Holding [for $??], Bloomberg via NYT, B3.
  7. French firm [Decathlon] buys MVP Sports [for $??], by Chris Reidy, Boston Globe, A11.
10/22  10 Takeovers Reported (total $3.812b) -
  1. Iron Mountain to buy a rival [Pierce Leahy] for $630m [cash + $570m debt], Dow Jones via NYT, C4.
  2. Morgan Grenfell buys Vespa [for $752m], AP via NYT, C4.
  3. Liberty Media Group to buy Ascent for $513.6m, AP via NYT, C4.
  4. Wind River makes [$437m] stock deal for Integrated Systems, Bloomberg via NYT, C4.
  5. Internet Services Consolidation valued at $287m, Reuters via NYT, C4.
  6. Zhone to acquire Premisys for $248m, Bloomberg via NYT, C4.
  7. Cade is bought by United Technologies for $109m, AP via NYT, C4.
  8. Netmanage to buy Wall Data, a network software rival [for $94m], Reuters via NYT, C4.
  9. Compass Bancshares adds to holdings in Texas [for $86m], Dow Jones via NYT, C4.
  10. Wynn's to buy Goshen Rubber for $85m, AP via NYT, C4.
10/21  8 Takeovers Reported (total $274m + $undisclosed) -
  1. Northgate Exploration to acquire a Royal Oak Mine [for $180m], Dow Jones via NYT, C4.
  2. Israeli software maker [Liraz Systems] to acquire Virginia concern [Template Software, for $49m], Reuters via NYT, C4.
  3. Ferrofluidics agrees to takeover by Japanese [Ferrotec, for $40.4m], Bloomberg via NYT, C4.
    ...No jobs are expected to be eliminated at Ferrofluidics. [Always ominous when they go to the trouble of mentioning this - just injecting a little morale-bashing fear into their employees, we surmise? Nyaahaha! Hallowe'en is coming.]
  4. Freeman is sold to its managers [- Saatchi & Saatchi sold Cliff Freeman & Partners ad agency to its managers for $4.6m], by Patricia Lauro, NYT, C14.
    [Not exactly a takeover in the bad sense because we're moving a step toward the ideal of full employee ownership.]
  5. Crane to create a separate business [& then take over Rugby USA building products from Rugby Group of Britain for $??], Dow Jones via NYT, C4.
  6. LVMH buys watch brands [Ebel & Chaumet, for $??], AP via NYT, C4.
  7. Cooper in German deal [- Houston-based Cooper Industries electrical fixtures to buy Weidmuller GmbH for $??], Bloomberg via NYT, C6.
  8. Deal for Iowa soup maker [- H.J. Heinz bought Quality Chef Foods for $??], AP via NYT, C18.
10/20  10 Takeovers Reported (total $12.56b + $undisclosed) -
(We counted NYT C4 "Scandinavian [$??] phone deal" between Telia & Telenor on 9/24.)
  1. Big Spanish banks plan $11.5 billion merger [- Banco Bilbao Vizcaya (#2) to have 70%, Argentaria (#3) 30% of new entity, still $32b behind Banco Santander (#1)], by Al Goodman, NYT, C4.
  2. Farmers Insurance in $812m acquisition [of Foremost Corp., mobile home insurer], AP via NYT, C4.
  3. Host Marriott to sell stake in Ritz-Carlton Boston [- controlling interest going to Millennium Partners for $122m], Dow Jones via NYT, C4.
  4. Entrade in $50m deal for Nationwide Auction, Bloomberg via NYT, C4.
  5. Marlborough's Concord buys Atlanta company [Empire Technologies, for $31m], by Ronald Rosenberg, Boston Globe, E9.
  6. Westwood on-line grocer plans $30m acquisition - Streamline.com seeks Chicago foothold with buy of Scotty's Home Market, by Chris Reidy, Bos Globe, E2.
  7. Inso agrees to sell unit [DynaText/Dyna Web technical document publishing operations, to Enigma Inc. for $14.75m], Dow Jones via Bos Globe, E9.
  8. Fortune Brands Inc. [in Conn. bought NHB Group in Ont., Canada for $?? - this plus Boone (10/13) cost them $100m per 11/17 NYT C4], NYT, C4.
  9. Hunt Marketing bought by DDB Seattle [for $??], by Stuart Elliott, NYT, C7.
  10. WebManage OK's buy of Cambridge firm [Commonwealth Network Technologies in Mass., for $??], Bos Globe, E4.
10/19  12 Takeovers Reported (total $14.384b + $undisclosed) -
(Guess it was just our imagination that this whole fad is running out of steam) -
  1. France Telecom buys a majority of E-Plus [for $9.05b], Bloomberg via Bos Globe, C2 [obscure NYT version doesn't even name E-Plus - "France Télécom to buy German carrier stake [for $8b]," by Edmund Andrews, NYT, C31.]
  2. Nortel buying software maker [Clarify, for $2.1b], Bloomberg via NYT, C4.
  3. Delta to pay $1.9b for rest of Comair - 3rd-largest airline gets biggest regional carrier, Bloomberg via Boston Globe, C2.
  4. American Water to buy [fresh & waste-water utility assets of Citizens Utilities] for $745m, Reuters via NYT, C4.
    [Figure upped to $835m in recap in "Citizens Utilities to sell Louisiana Gas operations," Reuters via 4/14/2000 NYT, C4.]
  5. Genzyme to buy Cell Genesys for $350m in stock, Reuters via NYT, C4.
  6. Peco Energy unit buys utility service companies, Dow Jones via NYT, C4.
    ...Exelon Infrastructure Services Inc. unit said yesterday that it had acquired five...utility service contracting companies for $194.5m in cash, plus stock in Exelon.... The five companies...were Chowns Communications Inc., MRM Technical Group, OSP Consultants Inc., Syracuse Merit Electric Inc. and Trinity Industries. Peco [itself] has agreed to merge with the Unicom Corp., parent of Commonwealth Edison, the utility that serves Chicago.
  7. Executone to sell phone business [to Inter-Tel] for $44.3m, Bloomberg via NYT, C4.
  8. GE Capital to buy J.C. Penney credit card unit [for $??], Reuters via NYT, C4.
  9. Diebold Inc. [ATM maker, to buy Nexus Software for $??], NYT, C4.
  10. Japanese insurance merger [ - Mitsui Marine & Fire Insurance to form holding company with Nippon Fire & Marine Insurance and Koa Fire & Marine Insurance, for $??], Bloomberg via NYT, C4.
  11. Money manager buys stake in rival [ - Affiliated Managers Group bought a 70% stake in Frontier Capital Management for $??], Bloomberg via NYT, C14.
  12. CMGI buys Activate.Net [for $??], by Hiawatha Bray, Bos Globe, C9.
10/16  7 Takeovers Reported (total $1.498b + $undisclosed) -
Is it just our imagination or is this whole fad starting to run out of steam? -
  1. Asarco accepts Grupo Mexico's $1.18b takeover bid, by Kenneth Gilpin, NYT, B1.
  2. El Paso Energy is adding Crystal Gas Storage [for $208m], Bloomberg via NYT, B3.
  3. May Stores to acquire Utah-based Zions Cooperative [for $52m], Bloomberg via NYT, B3.
  4. Safeco to purchase Medical Insurance concern [for $34.8m], Bloomberg via NYT, B3.
  5. Vermont Yankee plant is sold [to Amergen Energy for $23.5m], by Peter Howe, Boston Globe, G9.
  6. MBNA agrees to buy SunTrust's credit card [for $??], Bloomberg via NYT, B3.
  7. Cooper Industries will acquire Regent Lighting [for $??], Bloomberg via NYT, B3.
10/15  11 Takeovers Reported (total $6.713b + undisclosed) -
  1. Daimler and Aérospatiale to merge their aérospace businessès [for $3.7b+??], by Edmund Andrews, NYT, C1.
  2. A $1.6b deal [by Intel] for DSP Communications, by William Orme, NYT, C4.
  3. Millennium Set to buy Leukosite [for $635m], NYT, C4.
  4. Times Co. buys Massachusetts paper [Worcester Telegram] for $295m and posts rise in profit, by Felicity Barringer, NYT, C6.
  5. RailAmerica in $208m deal to acquire Railtex, Reuters via NYT, C4.
  6. Rexam sells Bowater Windows unit for $203m, Dow Jones via NYT, C4.
  7. Cottman Transmission Systems Inc. [was bought for $50m by senior executives & Sentinel Capital Partners], NYT, C4.
  8. CNET buys Savvysearch and its Internet search engines [for $22m], Bloomberg via NYT, C4.
  9. Japan banks to merge, with wider effects:  Sumitomo[-Sakura $??] deal seen as a lever on clients, by Stephanie Strom, NYT, C5.
  10. Quanta buys 11 companies [for $??] with sales of $150m, Dow Jones via NYT, C4.
  11. Plans for Korea First unit [- Korea Deposit Insurance to take over the New York unit of Korea First Bank for $??], by Samuel Len, NYT, C5.
10/14  6 Takeovers Reported (total $8.9835b + undisclosed) -
  1. A conservative Con Ed makes a bold move [- buys Northeast Utilities for $3.29b in cash or stock, plus $4.2b in debt], by Agis Salpukas, NYT, C2.
  2. Sale of paper unit [- Apax Partners bought the Paper Technology Group from Invensys for $810m], by Andrew Sorkin, NYT, C4.
  3. Citation accepts amended purchase pact from Kelso [which now pays only $620m], Bloomberg via NYT, C4.
  4. Onex acquires Cordena Call for $51m, Dow Jones via NYT, C4.
  5. Wausau to buy commercial insurance business [Commercial Insurance Services, from Liberty Mutual for at least $12.5m], AP via NYT, C4.
  6. McDermott[/O'Neill & Assocs] is bought by Toronto firm [GPC International, for $??], by Chris Reidy, Boston Globe, C1.
10/13  7 Takeovers Reported (total $510.8m + undisclosed) - (we're going to put off counting Con Ed's "$3.2b" purchase of Northeast Utilities until tomorrow when the full price, with huge additional debt, is announced) -
  1. HCC Insurance Holdings to acquire Centris Group [for $171m], Dow Jones via NYT, C4.
  2. Terayon Communication to buy 2 Israeli companies [e.g., Telegate for $100m], Bloomberg via NYT, C4.
  3. Homestore.com agrees to acquire Homebuyer's Fair [for $85m], Bloomberg via NYT, C4.
  4. Newell [Rubbermaid] in French deal [for Reynolds SA pens & pencils, for $64.8m], Bloomberg via NYT, C4.
  5. Terayon Communication to buy 2 Israeli companies [e.g., Radwiz for $50m], Bloomberg via NYT, C4.
  6. Hoechst Marion to buy Ariad's 50% of venture [Genomics Center, for $40m], Bloomberg via NYT, C4.
  7. Fortune Brands Inc. [to buy Boone International for $?? - this plus NHB (10/20) cost them $100m per 11/17 NYT C4], NYT, C4.
    [Fortune, maker of Titleist golf balls, Jim Beam bourbon, and other consumer goods is buying Boone "to expand sales of office products" - a walking corporate identity crisis if ever we saw one.]
10/12  12 Takeovers Reported (total $4.377b + undisclosed) -
  1. Global Crossing buying a telecommunications unit in Britain [for $1.65b], by Andrew Sorkin, NYT, C4.
  2. Blue Circle sells [heating] unit [to Baxi Partnership for $793m], Dow Jones via NYT, C4.
  3. Anglogold looks abroad [- world's biggest gold company buys Acacia Resources of Australia for $541m], Bloomberg via NYT, C4.
  4. Prize Energy agrees to acquire Vista Energy [for $450m], Dow Jones via NYT, C4.
  5. Peoplesoft to acquire customer relations specialist [Vantive, for $433m], Dow Jones via NYT, C4. [Good idea with an insulting name like that.]
  6. Phone.com to buy European wireless operator [Apion, for $239m], Reuters via NYT, C4.
  7. National-Oilwell to buy Hitec, maker of drilling gear [for $125m], Dow Jones via NYT, C4.
  8. Agile Software agrees to acquire Digital Market [for $20+52m], Reuters via NYT, C4.
  9. Robert W. Baird & Co. [to buy British investment bank Granville for $61m], NYT, C4.
  10. Methode Electronics deal boosts Spire stock [- Spire to sell its opto-electronic business to Methode for $13m], Dow Jones via Boston Globe, D9.
  11. Kelly Services Inc. [to buy HTM Group for $??], NYT, C4.
  12. Bay area car-rental deal [- 3 franchise owners of Dollar Thrifty Automotive Group bought Bay Area Rentals for $??], Bloomberg via NYT, C11.
10/09  5 Takeovers Reported (total $1.336b + undisclosed) -
  1. Fortum to sell [chemical] unit [in Finland to Industri Kapital for $540m], Bloomberg via NYT, B2.
  2. Car-breakdown company [Green Flag in Britain] sold [by Cendant in New York to British auto insurer Direct Line for $364m], Reuters via NYT, B2.
  3. Reckson Service will be adding to two holdings [for $216.2m], Bloomberg via NYT, B2.
  4. Eex is in agreement to buy Tesoro Petroleum [for $216m], Dow Jones via NYT, B2.
  5. Nestlé sells frozen foods unit [Findus, to EQT Scandinavia for $??], by Elizabeth Olson, NYT, B2.
10/08  7 More Takeovers Reported (total $946.5m) - Clearly the Times editor got tired of making up imaginative headlines today - and that's fine with us...
  1. Intuit to buy Rock Financial, an on-line mortgage seller [for $370m], Bloomberg via NYT, C4.
  2. Macromedia to buy maker of web-commerce software [for $280m], AP via NYT, C4.
  3. Wachovia to buy BC Bankshares for $134m, Bloomberg via NYT, C4.
  4. Dupont to buy maker of computer models for drug tests [Combichem, for $95m], AP via NYT, C4.
  5. Unitrin to sell Pyramid Life to Ceres Group [for $67.5m], Bloomberg via NYT, C4.
  6. [Canada's biggest life insurer,] Great-West Lifeco to buy an Allmerica unit [for $??], Bloomberg via NYT, C4.
  7. Liz Claiborne Inc. [to buy Podell Industries for $??], NYT, C4.
10/07  7 Takeovers Reported (total $4.168B) - (Is anyone else starting to find this boring? Six billion people in the world, millions of Type A personalities on testosterone highs needing pastimes to keep them spinning their wheels with the illusion they're doing something meaningful, so instead of solving age-old human problems, they merge, acquire and take over ad infinitum and ad nauseum. Ten years from now all this turbulence will be forgotten. Most of it, sooner. It's old hat. It's been done. It's become trivial.)
  1. AT&T, Dobson to buy cellular firm [American Cellular, for $2.32B], Bloomberg via Boston Globe, C2.
  2. Phelps Dodge to buy Asarco [for $1.1B], creating top copper company, Reuters via NYT, C6.
  3. Isle of Capri Casinos is in deal to buy Lady Luck Gaming [for $59+177+62.4m = $298.4m], Dow Jones via NYT, C4.
  4. [Barnes & Noble] Bookseller to buy Babbage's Etc. for $215m, Bloomberg via NYT, C4.
  5. VS&A kplans to buy GP Strategies for $158.8m, Bloomberg via NYT, C4.
  6. Media Metrix to acquire AdRelevance for $65.7m, Bloomberg via NYT, C4.
  7. Eglobe Inc. [to buy Iglobe Inc. for $10.5m], NYT, C4.
10/06  13 Takeovers Reported (total $4.3495B + $undisclosed) -
  1. [$2.6b] Merger to form Michigan's largest utility [- DTE Energy to buy MCN Energy], AP via NYT, C4.
  2. Shell Canada selling [Plains business to Apache Canada] for $524m, Dow Jones via NYT, C4.
  3. Intel paying $500m for Internet equipment maker [Ipivot], Reuters via NYT, C4.
  4. Adelphia pays Citizens [Utilities] $213m for its cable assets, Reuters via NYT, C4.
  5. Pulitzer agrees to buy Illinois papers from Chronicle [for $180m - The Pantagraph & 7 community newspapers], AP via NYT, C4.
  6. [IXL Enterprises, an] Internet services company in deal to acquire Tessera [for $120m], Dow Jones via NYT, C4.
  7. Acquisitions by 3 companies [- Omnicom Group to buy M/A/R/C for $116m], by Stuart Elliott, NYT, C11.
  8. Texas utility buying Massachusetts energy company [for $75m - Southern Union buying Fall River Gas], Reuters via NYT, C4.
  9. N.H.'s Silknet, InSite in $21.5m stock deal, by Hiawatha Bray, Boston Globe, D9.
  10. Railworks Corp. [to buy 4 companies for $?? to expand outside NYC area], NYT, C4.
  11. Acquisitions by 3 companies [- Euro RSCG to buy Devon Direct for $??], by Stuart Elliott, NYT, C11.
  12. Acquisitions by 3 companies [- The Publishing Agency to buy vdBJ/Communicatie Groep for $??], by Stuart Elliott, NYT, C11.
  13. Primedia unit in deal [- Intertec Publishing unit bought Multimedia Publishing for $??], Dow Jones via NYT, C14.
10/05  17 Takeovers Reported (total $144.536B + $undisclosed, probably our one-day record) - "starting the week with a bang" -
  1. MCI to buy Sprint in swap of stock for $108 billion - A flurry of bids - BellSouth offer spurned - Acquisition would be biggest ever, by Holson and Schiesel, NYT, front page.
  2. The leader in U.S. radio to buy No. 2 - Clear Channel will expand to 830 stations [when buys AMFM for $23.5B], by Bill Carter, NYT, C1.
  3. TV Guide sold [to Gemstar International Group] for $9.2 billion in stock deal, by Alex Kuczynski, NYT, C1.
  4. Chemical unit sold [- Imperial Chemical sells Belgium-based ICI Acrylics to Ineos Acrylics for $833M], AP via NYT, C4.
  5. [Westvaco in $625M] Deal for Temple-Inland's paperboard mill, Dow Jones via NYT, C4.
  6. Fiat unit makes purchase [- Fiat's truck division to buy France-based Fraikin for $596M], Dow Jones via NYT, C4.
  7. Bovis is sold [by Peninsular & Oriental Steam Navigation to Lend Lease Corp. for $471.8M], by Andrew Sorkin, NYT, C4.
  8. JDS Uniphase to buy maker of fiber optic equipment [Epitaxx, for $400M], Bloomberg via NYT, C4.
  9. Bovis is sold [by P&O which also sold its Earls Court and Olympia exhibition operation on Friday for $302.9m], by Andrew Sorkin, NYT, C4.
  10. Novacare selling outpatient operations [to Select Medical for $155M], Dow Jones via NYT, C4.
  11. Texas Instruments is buying Power Trends [for $145M], Dow Jones via NYT, C4.
  12. Pacific Dunlop [Ltd's Ansell rubber and latex unit to buy Johnson & Johnson Medical's worldwide medical globe business for $98M], NYT, C4.
  13. Summit Bancorp to buy Connecticut bank [NMBT Corp, for $69.4M], Reuters via NYT, C4.
  14. Concentric Network to buy Internet host [9 Net Avenue, for $54M], Dow Jones via NYT, C4.
  15. Intraware buying 2 concerns to widen on-line services [- Bitsource and Internet Image, for $48M], Bloomberg via NYT, C4.
  16. Glenayre Technologies [to sell its microwave radio business to Ripplewood Holding and Leeward Technology Partners for $38M], NYT, C4.
  17. Kimberly-Clark moves to triple health care business [after last month's purchase of Ballard Medical Products for $??], Bloomberg via NYT, C4.
10/02  8 Takeovers Reported (total $553m + $undisclosed) -
  1. Kellogg set to purchase Worthington Foods [for $307m], AP via NYT, B3.
  2. Affiliated Computer will acquire Consultec [for $105m], Dow Jones via NYT, B3.
  3. California property deal [- Equity Office Properties Trust bought the Palo Alto Square office complex for $85m], Bloomberg via NYT, B3.
  4. Novera agrees to be acquired [for $56m by TSI International Software], by Ross Kerber, Boston Globe, F1.
  5. U.S. Foodservice adding Superior and Christianson [for $??], Dow Jones via NYT, B3.
  6. Gannett in [$??] acquisition of Tucker Communications, Bloomberg via NYT, B3.
  7. U.S. Vision Inc. [acquired 24 optical departments in Boscov's stores for $??], NYT, B3.
  8. Daisytek International Corp. [wholesale office supplies, bought Arlington Industries for $??], NYT, B3.
10/01/99  11 Takeovers Reported (total $5.977B + $$undisclosed) -
  1. What's in a name [- After its $2.4B takeover of Royal Hoogoovens, British Steel is changing its name to Corus Group], by Alan Cowell, NYT, C4.
  2. [Friendly $1.8B] Phelps Dodge-Cyprus deal ends [Phelps'] hostile takeover bid - Transaction also stops effort by Asarco, Reuters via NYT, C5. [Note Boston Globe, C2, has this at $3.3B from Bloomberg - who do you trust? (Do you trust anybody?)]
  3. Internet ad agency is sold for $690M [- Flycast Communications bought by CMGI, 3rd buy in 2 wks], Bloomberg via NYT, C4. [Note Bos Globe, C1, has this at $741M]
  4. Mead to pay $550M for time organizer products [the At-A-Glance Division of Cullman Ventures], Bloomberg via NYT, C4.
  5. Puget Sound Energy acquiring an Encogen power plant [for $164M], Dow Jones via NYT, C4.
  6. Two more acquisitions are announced by Wells Fargo [- (1) North Country Bancorp for $112M], Bloomberg via NYT, C4.
  7. Connectiv selling its [708-megawatt] stake in three nuclear plants [for $77M to PECO Energy and PSEG], Reuters via NYT, C4.
  8. Bracknell buying Nationwide Electric for $76.7M, Dow Jones via NYT, C4.
  9. First Union Corp. [has sold the 29-story First Union Capitol Center in Raleigh to DRA Advisors for $73.5M], NYT, C4.
  10. Tibco buying Xerox's Inconcert unit for $34M, Bloomberg via NYT, C4.
  11. Two more acquisitions are announced by Wells Fargo [- (2) Eastdil Realty for $??], Bloomberg via NYT, C4.
For earlier Mergers&Acquisitions, click on the desired date -
  • Sept/99
  • Aug/99
  • July 16-31/99
  • July 1-15/99
  • June 16-30/99
  • June 1-15/99
  • Apr-May/99
  • Mar/99
  • Feb/99 and before

    For more details, our laypersons' guide to our great economic future Timesizing, Not Downsizing is available at bookstores in Harvard Square, Cambridge, Mass. or from *Amazon.com online.

    Questions, comments, feedback? Phone 617-623-8080 (Boston) or email us.


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