1. A buyout boom lifts selected shares
- Author
-
Tan, Kopin
- Subjects
United States -- Economic aspects ,Leveraged buyouts -- Forecasts and trends ,Leveraged buyouts -- Statistics ,Stock markets -- Forecasts and trends ,Stock markets -- Statistics ,Stock market ,Market trend/market analysis ,Banking, finance and accounting industries ,Business - Abstract
Companies and financial firms on a buyout spree pushed the 2006 global merger tally to record US$3.5 trillion, and the prospect of so much cash, and debt financing, at the ready propped up the US stock market in November 2006 in sectors touched by the buyout boom. On the other hand, Freeport-McMoRan Copper & Gold's US26 billion-dollar offer to buy rival Phelps Dodge would include US$88 in cash plus 0.67 of a share of its stock for each Phelps share, which is a 33% premium for Phelps shareholders.
- Published
- 2006