Buyback myopia
Article Abstract:
The number of tender offers involving publicly traded equities has considerably increased in July 1999, as companies have become interested in buying back their stock. Such a trend may be explained by the stock market's strong performance, good cash flow and low interest rates. Companies have resorted to this measure to maintain the stability of their compensation packages or as a means of strengthening the market value of their stocks. Financial experts, however, expressed apprehension over stock repurchasing, since they undermine stock values in the long-term.
Publication Name: Treasury & Risk Management
Subject: Business
ISSN: 1067-0432
Year: 1999
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Eau! What's happening to our water?
Article Abstract:
French water company giants, Vivendi and Lyonnaise des Eaux, both experienced large financial debts but still planned to pursue acquisition of the US water supply companies for $11.5 billion to become global water suppliers. Vivendi, the world's largest water company with yearly sales of $12.7 billion, increased its debt to $4 billion from $1.5 million last year. While Suez Lyonnaise, with $4.6 billion investment has 60 to 95% debt to equity ratio still plans to loan $1.1 billion.
Publication Name: Treasury & Risk Management
Subject: Business
ISSN: 1067-0432
Year: 1999
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Cash management fees stay soft
Article Abstract:
The Pheonix-Hecht survey considered around 2,500 bank statements from 1,000 US companies with over USDlr100 mil in sales, and found that discounted services frequently related to large volume processing.
Publication Name: Treasury & Risk Management
Subject: Business
ISSN: 1067-0432
Year: 2000
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