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Bloomberg

Bloomberg: $100 Billion Deal Day Evokes 1998’s Exxon-Mobil: Real M&A

http://www.bloomberg.com/news/2014-11-17/-100-billion-deal-day-evokes-1998-s-exxon-mobil-real-m-a.html By Brooke Sutherland and Tara Lachapelle The last time two mergers this huge were announced on the same day, Exxon was targeting Mobil and Bill Clinton was still in the White House. Halliburton Co. (HAL) and Actavis Plc this morning announced a combined $100 billion in takeovers. It’s rare to see two deals of $20 billion or more hit the tape at once — so rare, it hasn’t happened in 16 years, according to data compiled by Bloomberg. That’s when energy giant Exxon Corp. agreed to buy Mobil Corp. and two European drugmakers struck the merger that created Aventis SA. The two takeovers added to what has already been the busiest year for deal making since the record in 2007. “There’s a little bit of coincidence involved in this, but the broader stroke that I would paint is confidence is getting stronger,” […]

thestreet

TheStreet: Canadian Pacific, eBay, Family Dollar Among Opportunities Created by Selloff

http://www.thestreet.com/story/12916790/2/canadian-pacific-ebay-family-dollar-among-opportunities-created-by-selloff.html By Antoine Gara NEW YORK (TheStreet) — The recent tumble in equity, commodity and currency markets has created opportunities to buy stocks in companies that got caught up in the broad selloff. Firms facing multiple takeover offers have lost their deal premiums, share price gains from the emergence of activist investors have been washed out, and it appears markets have all but forgotten about industries ripe for consolidation. For instance, an investor can now buy Family Dollar (FDO) stock as if Dollar General (DG) never emerged with a competing all-cash offer for the discount retailer. The offer now stands at $80 a share. In mid-morning trading, shares of Family Dollar were down 0.5% at $76.13. Only a month ago, investors were pricing in the potential for a bidding war for Family Dollar between Dollar Tree (DLTR) and Dollar General. Now, as oil plunges to four-year lows, bonds tumble to […]

WallStreetJournal-logo

The Wall Street Journal: Wall Street Woos Young Workers as Business Picks Up

http://blogs.wsj.com/moneybeat/2014/09/01/wall-street-woos-young-workers-as-business-picks-up By Lindsay Gellman, Sara Jerving and Daniel Huang Wall Street firms are hiring more junior bankers and giving more interns full-time jobs this year. Bank of America Corp. hired about 40% more full-time analysts and associates this year than last, according to a person familiar with the bank’s hiring practices. J.P. Morgan Chase & Co. aims to hire 10% more junior bankers than last year, according to a person familiar with the hiring process. The New York bank already has identified or hired about 80% of these junior employees, who will start next summer, the person said. Goldman Sachs Group Inc.’s intern class swelled to more than 2,500 world-wide this summer from roughly 2,300 last summer, according to a person familiar with the company’s recruiting. At Barclays PLC, the number of interns rose about 20% this summer from a […]

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The Wall Street Journal: Scott Rostan “Project Funway: Code Names Spice Up the Art of the Deal”

By Gillian Tan and Liz Hoffman http://online.wsj.com/articles/bankers-lament-loss-of-code-names-for-deals-1409279749  Bankers Enjoy Coining Monikers to Keep Mergers Quiet; Software Threatens the Fun “Project Swift” sounds like the name of a military invasion or an Olympic marathoner’s training plan. But it is actually the code name for a corporate buyout, inspired by a private-equity associate’s fondness for singer Taylor Swift. Labels like Project Token, the name Apollo Global Management LLC used to mask its purchase of children’s restaurant favorite Chuck E. Cheese, or Project Fusion, the code for Kinder Morgan Inc. ‘s consolidation of its oil-and-gas holdings into a single company, are designed to keep reporters, traders and even rival companies from sniffing out deal news before formal announcements are made. For the young bankers who get to choose them, code names are an amusing diversion from the financial modeling and PowerPoint presentations that fill their days. But one […]

new york post

New York Post: Scott Rostan “Goldman Sachs plans 20% pay hike for junior bankers”

http://nypost.com/2014/08/20/goldman-sachs-plans-20-pay-hike-for-junior-bankers/ By Kevin Dugan First they get a day off. Next they get a raise. Goldman Sachs’ junior bankers — who are known to log grueling 100-hour work weeks — are looking at a pay hike of more than 20 percent next year, two people familiar with the bank’s plans told The Post. That would boost the base salary for some first-year analysts to about $85,000 — before they even collect their bonuses, one source said. Second- and third-year analysts would likely be making significantly more, depending on where they work within the bank and how much that division makes, the source said. There are no plans to change how much they could make in bonuses, according to the person. Leslie Shribman, a Goldman spokeswoman, declined to comment. The prospective raise, which hasn’t been announced by the bank, comes after […]

thestreet

The Street: Scott Rostan “Where Top MBA Graduates Want to Work and Salary Expectations”

A new survey of MBA students and graduates found that their top employment choice is not bulge bracket banks but consulting firms. Training The Street (TTS) conducted its fifth annual survey of MBA students. The firm says consulting firms recruit more aggressively than the large banks. The survey also found MBA students are very optimistic about their job prospects. In terms of salary, most were receiving job offers with starting salaries between $100,000 and $125,000. 26% of the respondents reported offers of more than $125,000. TheStreet’s Susannah Lee speaks with Scott Rostan, President of Training The Street, to find out more.

Bloomberg

Bloomberg: Scott Rostan “OpenTable’s High Premium Boosts Yelp to GrubHub”

http://www.bloomberg.com/news/2014-06-13/opentable-gets-top-internet-premium-since-2007-real-m-a.html By Tara Lachapelle and Brooke Sutherland What do OpenTable Inc. (OPEN), Uber Technologies Inc. and WhatsApp Inc. have in common besides sky-high valuations? Look it up on your phone. The 53 percent premium Priceline Group Inc. is wooing OpenTable shareholders with tops any other large takeover of an Internet stock in North America since 2007, according to data compiled by Bloomberg. For $2.6 billion, Priceline is getting a business that more than 15 million diners per month use to book tables from the palms of their hands. It’s the latest mobile-application company to command a high valuation for relatively low sales. As smartphones become increasingly more useful, buyers are paying up for the companies that develop the most popular apps. In February, Facebook Inc. paid such a lofty price for WhatsApp that it valued the chat service like a drugmaker developing […]

Bloomberg

Bloomberg: Scott Rostan “Real M&A: JBS’s Remaining Targets Lack Hillshire Appeal”

http://www.bloomberg.com/news/2014-06-12/jbs-s-remaining-targets-lack-hillshire-appeal-real-m-a.html  By Brooke Sutherland JBS SA (JBSS3) is running out of consolation prizes. The Brazilian meat producer’s latest attempt at a major deal was quashed this week when Tyson Foods Inc. won the bidding war for Hillshire Brands Co. (HSH) with a record premium for the food industry. Last year, JBS was preparing a bid for Smithfield Foods Inc. before the hog producer agreed to sell itself to WH Group Ltd., people familiar with the matter said at the time. After passing on those deals, the $10 billion company’s acquisition options are narrowing, Deutsche Bank AG said. One of the most appealing options for JBS — yet unlikely to ever go on the block — is Kraft Foods Group Inc. (KRFT)’s Oscar Mayer. Hormel Foods Corp. (HRL) would also be logical, although with a market value of $13 billion, it’s […]

cnbc-logo

CNBC Taking Stock: Scott Rostan “Market Divergence Unusual”

BNN

BNN: Scott Rostan “IPO/M&A Frenzy”

http://watch.bnn.ca/business-day-pm/business-day-pm-april-2014/business-day-pm-april-15-2014/#clip1080660

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