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 Sears和Kmart将合并 |
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Sears和Kmart将合并 -- 孤枕难眠 - (92 Byte) 2004-11-18 周四, 03:13 (2000 reads) |
CodeRed
头衔: 海归中士
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加入时间: 2004/03/04
文章: 354
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作者：CodeRed 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Kmart Holding's plan to buy Sears, Roebuck and Co for almost $US11 billion ($14 billion) in the fourth-largest retail-chain merger in recent history shakes up the merger-and-acquisition advisory rankings coveted by Wall Street companies.
The $US10.6 billion deal vaults Sears adviser Morgan Stanley into first place from sixth on announced US retail advisory merger-and-acquisition assignments this year and moves it to third from fourth on all announced M&A deals worldwide, according to Dealogic.
Goldman Sachs, which was first on retail assignments, retains its number-one position on all advisory deals.
Lehman Brothers, which is advising Kmart in the acquisition, catapults to second place from 33rd on US retail deals this year and remains in seventh place on all announced advisory assignments around the world.
Unlike most large mergers or acquisitions, where multiple Wall Street banks work as advisers, Kmart and Sears used Morgan Stanley and Lehman exclusively, the retail chains said.
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The transaction, measured by Kmart's plan to pay $US50 in cash or new stock currently valued at $50.61 a share to Sears's shareholders, is the fourth largest in retailing, according to Dealogic's 10-year-old database. However, as a deal, it pales next to Vodafone's $US172 billion purchase of Mannesman in 1999, the largest acquisition tracked by Dealogic, and Carrefour's $US17.2 billion acquisition of Promodes in August 1999, the biggest global retailing transaction.
Among US companies, the Kmart-Sears union is the second-largest behind Albertson's $US11.7 billion purchase of American Stores in 1999, according to Dealogic.
Morgan Stanley banker Richard Steinman, who heads the company's retail banking group, nevertheless had little time to celebrate because of another major assignment. A spokesman for British supermarket chain J. Sainsbury said on Wednesday it was working with Morgan Stanley on a defence against unsolicited attacks.
Morgan Stanley wouldn't comment. Mr Steinman's group earlier this year helped British retailer Marks & Spencer Group fend off a hostile bid from buyout specialist Philip Green, resulting in the sale of two Marks & Spencer affiliates.
Morgan Stanley, in a reversal of Wednesday's announcement, advised Sears in June on its purchase of 54 Kmart stores for $US621 million. It also is advising Barney's New York on the retailer's planned $US356 million sale to Jones Apparel, which was announced last week.
Sears' Morgan Stanley connection is long. Morgan Stanley chairman and chief executive Philip Purcell was a senior executive at the Chicago-based company until 1982, when he helped spin-off and then run the Dean Witter Reynolds brokerage firm that he later merged into Morgan Stanley.
The Wall Street giant also is a lender to Sears and advised on the retailer's $US1.8 billion purchase of Land's End two years ago. Steve Munger, Morgan Stanley's co-chairman of M&A, was a senior adviser on the Kmart deal.
作者：CodeRed 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 Sears和Kmart将合并 -- 孤枕难眠 - (92 Byte) 2004-11-18 周四, 03:13 (2000 reads) - 迫不得已 -- truelie - (126 Byte) 2004-11-19 周五, 14:27 (381 reads)
- Kmart deal lifts Morgan Stanley -- CodeRed - (3041 Byte) 2004-11-18 周四, 12:48 (238 reads)
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