Notable Mergers and Acquisitions of the Day 12/04: PRU/WFC, COF, ITWO/JDAS
More News related to COF
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- Holiday Shoppers Urged to Beware of Scams and Identity Theft
- Notable Analyst Rating Changes 11/23: SBUX, DE, SEED, NDAQ Upgraded; AGU, TRA, CIEN, FL Downgraded
- Capital One Survey Examines Money Management Practices of Couples
More News related to ITWO
- JDA Software (JDAS) Announces Intent for $275 Million Senior Note Offering
- JDA Software Group Announces Private Offering of $275 Million of Senior Notes
- i2 Predicts Responsiveness and Collaboration as Key to Supply Chain Success Across Industries in 2010
- i2 Thought Leadership Series to Focus on Role of Semiconductor Supply Chains in Recovering Economy
- Eroski Group Selects i2 Solutions to Lower Transportation and CO2 Emissions While Increasing Service Levels
More News related to JDAS
- JDA Software (JDAS) Announces Intent for $275 Million Senior Note Offering
- JDA Software Group Announces Private Offering of $275 Million of Senior Notes
- China Resources Vanguard Co., Ltd. Selects JDA Software to Maximize Profitability and Increase Market Share
- Optimera Gruppen A/S Selects JDA Software to Increase Sales and Reduce Stock Levels with Improved Inventory Management Strategies
- Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of i2 Technologies, Inc.
More News related to Special Reports
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- Unusual 11 Mid-Day Movers 11/30: SOMX, CLWT, KBX, CSGS Higher; AIG, BGP, BONT, HEB Lower
- Notable ETF Movers: SLX, EWJ, USO Higher; UNG, XRT Lower
- Best of the Web 11/30: Some Banks So Bad Buyers Won't Touch 'Em, Risky Bets Hurt Harvard, Eurozone Inflation Turns Positive
- Prudential Financial (NYSE: PRU) to sell Wachovia (NYSE: WB) securities stake to Wells Fargo (NYSE: WFC)
- Capital One Financial Corporation (NYSE: COF) and Chevy Chase Bank today announced a definitive agreement under which Capital One will acquire Chevy Chase in a cash and stock transaction valued at approximately $520 million.
The purchase will add $11 billion in deposits to Capital One.
Under the agreement, Capital One will purchase Chevy Chase for $445 million in cash and 2.56 million Capital One shares, valued at $75 million, based on the closing price of Capital One stock as of December 2, 2008.
Capital One expects this transaction will be accretive to operating EPS in 2009 and accretive to GAAP EPS in 2010. Capital One will take a net credit mark of $1.75 billion for potential losses in Chevy Chase's loan portfolio.
- i2 Technologies, Inc. (NASDAQ: ITWO) has terminated its Agreement and Plan of Merger with JDA Software Group, Inc. (NASDAQ: JDAS).
i2 expects to receive the non-refundable termination fee of $20 million from JDA within three business days.
- A group consisting of portfolio managers, the management team and senior professionals agreed to acquire a majority interest in Neuberger Berman, the investment management unit of now bankruptcy Lehman Brothers.
As part of the transaction, a new, independent investment management company to be called Neuberger Investment Management will be created comprising businesses that managed approximately $160 billion of assets as of November 30, 2008. Management will control 51% of the new company with Lehman Brothers Holdings Inc. retaining a 49% stake.
The Management bid was selected as the winner in a Bankruptcy Court auction held today, topping a previous bid from the private equity firms of Bain Capital and Hellman & Friedman that was announced in September and was used to start the auction process.
Related Categories
Special ReportsStocks Mentioned
+1.12
-0.06Related Entities
- Lehman Brothers
- Wachovia
- Bain Capital
- Hellman & Friedman LLC
- Notable Mergers and Acquisitions
- Bankruptcy
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