Bank merger valued at $12.9B

Article Abstract:

First Union Bancorp has offered to buy Wachovia Corp for $12.9 billion, which will create the US' fourth-largest bank. A combined First Union and Wachovia would have assets of $324 billion and 2,900 branches from Connecticut to Florida. However, Wall Street analysts say the timing of the deal is not right. They say First Union is not prepared to undertake an acquisition since it is in the midst of a sweeping and costly restructuring. Moreover, two of its recent acquisitions were not really successful.

Commercial Banks, Commercial Banking, Wachovia Corp.

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$45 billion in stock powers GE to Honeywell takeover

Article Abstract:

General Electric Co (GE) announced on Oct 22, 2000 that it will acquire Honeywell International for $45 billion in stock. GE Chmn and CEO Jack Welch said that he will postpone his planned Apr 2001 retirement till the end of the year to ensure that the deal pushes through. GE's bid for Honeywell beat United Technologies Inc's $40 million bid. The deal will make Honeywell a GE unit to be called GE-Honeywell.

Diversified Companies, Honeywell International Inc.

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Urge to merge may spread to other PC makers

Article Abstract:

The merger of H-P and Compaq Computer might spur more consolidation in the PC industry, due to excess global capacity, cutthroat pricing to gain market share, and slowing demand amid a weakening economy.

Electronic computers, Electronic Computer Manufacturing, Analog & Hybrid Computers, Microcomputers, Abstract

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