Big Deals ; New Jersey in the Thick of $730b in Mergers and Acquisitions
The Record, Bergen County, NJ › December 20, 2004
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Summary
A flurry of deals last week is providing icing on the cake for investment bankers who are enjoying another year of double-digit increases in U.S. mergers and acquisitions.
The extraordinary week of year-end deals kicked off Monday with Morris Township-based Honeywell International announcing that it would pay $2.4 billion for Britain's Novar PLC to expand its building security systems business in terrorism-wary Europe.See the full content of this document
Extract
Big Deals ; New Jersey in the Thick of $730b in Mergers and Acquisitions
On Wednesday, New Brunswick-based Johnson & Johnson said it would pay $25.4 billion in stock and cash for Guidant Corp. of Indianapolis, a maker of heart disease treatment devices. Also, Sprint and Nextel - fighting to stay competitive with industry leaders Cingular and Verizon Wireless - announced their $35 billion deal.
Last week's news pushed up the dollar volume of announced deals nationwide to $730 billion in 2004, compared with $538 billion in 2003, said Richard Peterson, chief marketing strategist at Thomson Financial.Although U.S. merger and acquisition activity is still well below the peak of $1.69 trillion in 2000, deal volume continues to rise this year as competition and thinning profit margins push many compani...See the full content of this document
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