After coming under extreme pressure from billionaire investor Carl Icahn, Motorola has decided that the handset business will operate separately from another company that will encompass its home and networks business which sells TV set-top boxes and modems, and its enterprise mobility solutions, which sells computing and communications equipment to businesses. We will see […]
In a press release the Justice Department said, “After a careful and thorough review of the proposed transaction, [the department’s antitrust division] concluded that the evidence does not demonstrate that the proposed merger of XM and Sirius is likely to substantially lessen competition, and that the transaction therefore is not likely to harm consumers.”
Cramer noted […]
Reports from the NY Times today show that JP Morgan has officially raised it’s bid to $10 per share for Bear Stearns. According to the Times, under the new terms, JPMorgan would pay $10 a share in stock for Bear, up from its initial $2 a share — a figure that represented a mere […]
That is correct…$2 a share. Wow! There is not much more to say…what a stunning collapse for Bear Stearns. The deal is valued at $236.2 million and the Federal Reserve and the U.S. government swiftly approved the all-stock deal showing the urgency of completing the deal before world markets open tomorrow.
Socialize
In a rather unexpected move, AOL is buying social networking site Bebo for $850 million in cash. For weeks there had been rumors that Bebo was looking for either an acquisition or new financing but no one anticipated AOL stepping in. Bebo has 40 million members and 80 million unique users all of which AOL […]
Gold futures hit $1,000 an ounce for the first time. The sinking dollar and record crude oil prices have gold skyrocketing. Crude hit a record $110.70 a barrel on the New York Mercantile Exchange after earlier rising to a new trading record of $111. Until the Feds get inflation under control Gold and […]
