Northwestern Mutual to buy adviser
Article Abstract:
Northwestern Mutual, a Milwaukee, WI-based mutual fund insurer, reportedly intends to acquire pension fund adviser Frank Russell for over $1 billion. The deal, expected to be revealed on Aug. 10, 1998, has been recently approved by both boards of Northwestern and Frank Russell. Although the firms could not be reached for comments, the deal is seen to benefit both firms. Frank Russell provides investment advice to over 200 pension funds in the US, while Northwestern provides life insurance and mutual fund insurance all over the US.
Comment:
Intends to acquire pension fund adviser Frank Russell for over $1 billion
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
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Tellabs wants to rework stock swap with Ciena
Article Abstract:
Tellabs is seeking a renegotiation of the purchase price for Ciena as the latter's stock price tumbles. The deal between the two telecommunications equipment makers was originally set at $7.1 billion in June 1998, but doubts were raised after Ciena announced a third-quarter 1998 profit warning. The merger is yet another example of proposed mergers that have been affected by the falling prices in the stock market and could bring in a new player to offer a higher price for Ciena should Tellabs make a lesser offer.
Comment:
Is seeking a renegotiation of the purchase price for Ciena as the latter's stock price tumbles
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: