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’Mayhem on Wall St
Dow cracks, mends, partially
Okay. Fast moving situation. The Dow Jones dropped below 10k a few moments ago. Now off 500 points.
This isn’t just contagion from Europe.
We have unconfirmed details of a fat finger or technical screw up involving Procter &
Warner Chilcott harks back to the good old (leveraged) days
Who said leveraged loans are dead? There were echoes of the good old days of highly leveraged deal-financing with news that specialty drug maker Warner Chilcott is expected to announce as early as Monday the acquisition of Procter & Gamble’s prescription-drug business for more than $3bn.
Warner Chilcott to buy P&G unit for $3bn
Warner Chilcott, a specialty drug maker, is acquiring Procter & Gamble’s prescription drug business for about $3bn, reports Reuters. A transaction could be announced on Monday. Six lenders led by Bank of America and JPMorgan will provide up to $4bn of financing,
P&G looks to exit pharmaceuticals
Procter & Gamble is working with Goldman Sachs to identify potential buyers for its pharmaceuticals brands or find other ways to exit the business. The consumer goods group has been shifting its focus on high-growth businesses and to divest non-key assets.
P&G to embark on record expansion
Procter & Gamble is to embark on the most ambitious expansion programme in its history, as it moves to increase its strategic focus on emerging markets despite the current global economic slowdown. Bob McDonald,
P&G considers M&A with PE
Procter & Gamble, the world’s biggest consumer goods company, is willing to team up with private equity firms to pursue deals, the Times reported on Thursday.
Buyout firms have dominated the M&A market in recent years but they have rarely teamed up with giants of industry,