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In 1997, it was acquired by Marsh McLennan for $1.8 billion. [ 4 ] [ 5 ] Of the sale proceeds, $1.01 billion went to J&H's active directors and shareholding managing principals, $500 million was earmarked for 600 key J&H employees, and $297 million was paid to 40 retired directors; however, the retired directors sued, alleging that they were ...
Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: Board of Governors of the Federal Reserve System, May 2004. (Staff study 176) Institute of Mergers, Acquisitions and Alliances (MANDA) M&A An academic research institute on mergers & acquisitions, including bank mergers
1997 Bankers Trust: Alex. Brown & Sons: Bankers Trust (BT Alex. Brown & Sons) 1997 Swiss Bank Corporation: Dillon, Read & Co. Swiss Bank Corporation (Warburg Dillon Read) 1997 Travelers Group: Salomon Brothers: Travelers Group (Salomon Smith Barney) 1997 Dean Witter Discover & Co. Morgan Stanley: Morgan Stanley Dean Witter: 1998 Union Bank of ...
Mergers and acquisitions are a driving force in the world of finance. Banks, for example, are consolidating all the time, and mergers are how some of the largest banks in America have grown so large.
The company grew rapidly in the 1990s, after completing several mergers and acquisitions. WorldCom's first major acquisition was in 1992 with the $720 million acquisition of Advanced Telecommunications Corporation, outbidding larger rivals Sprint Corporation and AT&T to secure the deal, making WorldCom a larger player in the telecoms market. [5]
In 1991, the company was sold to Barings for $122 million. [8] Barings went bankrupt and in 1995, management bought back the firm. [9]In 1997, the company was sold to Swiss Bank Corporation in 1997 and merged with S. G. Warburg & Co., to become Warburg Dillon Read.
Woodbridge Group LLC was founded by Robert M. Koenig in 1993. [1] In 2008, the company started WG Securities LLC and opened its European office in the Netherlands. [2] In 2012, an office was opened in São Paulo, Brazil. [3] In 2014, Woodbridge International expanded its operations to Frankfurt, Germany. [4]