News

Travelers Group/Salomon

Premium 01 November 1997

US financial conglomerate Travelers Group and US bank Salomon announced in September that they had agreed to merge Salomon with Travelers Group’s Smith Barney Holdings to create Salomon Smith Barney.

PriceWaterhouse/Coopers & Lybrand

Premium 01 November 1997

International accounting and management consultancy firms Coopers & Lybrand and Price Waterhouse announced plans to merge on 18 September.

Littlewoods/Freemans

Premium 01 November 1997

Littlewoods, the UK-based retail conglomerate, has finalised its £367.5 million cash purchase of the home shopping group Freemans from UK retail company Sears.

Lockheed Martin/Northrop Grumman

Premium 01 September 1997

US-based defence companies Lockheed Martin and Northorp Grumman agreed at the beginning of July to merge, forming a company which would have revenues estimated at $37 billion and employ almost 230,000 people.

Mirror Group/Midland Independent Newspapers

Premium 01 September 1997

British media giant Mirror Group has made a £297 million offer for Midland Independent Newspapers (MIN), which would mean the group paying 210p per MIN share, though it would include a partial share alternative giving MIN shareholders the opportunity to receive Mirror Group shares instead of cash.

Concerns persist

Premium 01 September 1997

British-based pharmaceutical company Amersham announced at the beginning of July that it had agreed terms of a full merger with Norwegian company Nycomed (the new group to be called Nycomed Amersham).

Raytheon/Texas Instruments/Hughes

Premium 01 September 1997

Raytheon, the US defence company, announced in January that it had agreed to merge with Hughes Aircraft, a subsidiary of Hughes Electronics Corporation, to form Raytheon Company.

Star Alliance

Premium 01 September 1997

Five airlines, United Airlines, Lufthansa, SAS (Scandinavian Airlines System), Air Canada and Thai Airways International, formed the ‘Star Alliance’ in May of this year.

Stena Line/P&O

Premium 01 September 1997

British ferry companies P&O and Stena Line signed an agreement to merge their cross-channel ferry businesses to form P&O Stena Line in December 1996, creating a 14-ship service.

BA/American Airlines

Premium 01 July 1997

British Airways and American Airlines announced plans for a broad alliance in June 1996 which was due to begin in April this year. It has yet to receive regulatory approval.