Bristol-Myers hires banks for sale advice: FT
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U.S. pharmaceutical company  Bristol-Myers Squibb  has hired three Wall Street banks  ahead of a possible offer from France's Sanofi-Aventis  , the Financial Times reported on Tuesday.
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With so few mergers and acquisitions these days and with fees for them shrinking, bankers have found a new way to milk more cash out of deals: working with both buyer and seller.
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A new tactic in financing is expanding the role of Wall Street banks, which have essentially served as mortgage lenders to deal-hungry private equity firms.
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Bristol-Myers Squibb plans to ask US regulators to allow it to sell Pravachol over the counter, in a move that could shake up the growing, lucrative market for cholesterol-reducing drugs.
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Internet firm Pipex Communications put itself up for sale yesterday in a move that could value the firm at more than pounds 500 million. It has appointed adviser UBS to review strategic options for the group, which "could include" a sale.
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MCI, the telecom giant that used to be called WorldCom, has appointed bankers to explore a possible sale of the business. WorldCom has only recently emerged from what was
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(InfoWorld) - Hewlett-Packard plans to acquire business transactions monitoring software vendor Bristol Technology. HP announced Monday that it has signed a definitive agreement to acquire Bristol as a way to beef up its business technology optimization (BTO) product offerings. The vendor didn't reveal the financial terms of the deal. Bristol's TransactionVision software helps customers monitor complex business transactions ranging from insurance claim processes to product orders and inventory management. Users can manage processes running on J2EE or .Net application servers as well as processes running on mainframes. With Bristol under its belt, HP said it will be better positioned to provide users with end-to-end management of their real-time business transactions and extend its HP Business Availability Center business service and application management software to the mainframe. HP and Bristol are already partners. Bristol's TransactionVision software is integrated with HP's Business Availability Center and its Universal Configuration Management Database (CMDB) software, both of which were products HP acquired when it purchased Mercury Interactive last year. As part of an ongoing company-wide restructuring effort designed to make the vendor more competitive and efficient, HP has beenÂ revamping its software business, creating a number of focused units. In December, following the completion of its $4.5 billionÂ acquisition of Mercury, HP created a BTO unit to bring together Mercury's application management software with HP's OpenView systems and network management technologies. Founded in 1991, privately held Bristol has its headquarters in Danbury, Connecticut, and the majority of its customers are financial services and insurance companies in the U.S. and the U.K., including JPMorgan Chase & Co. and Blue Cross Blue Shield of Florida. Bristol started off as a provider of cross-platform development tools with its Wind/U offering, which is still in use, for porting Windows applications to Unix and Linux. In 1998, the vendor began to change its focus to also encompass enterprise software. Subject to closing conditions, HP expects to complete the acquisition within the next 30 days. At that point, Bristol will become part of the HP Software unit inside the vendor's Technology Solutions Group.
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Schering-Plough Corp.  is  seriously considering approaching Bristol-Myers Squibb Co.   about a possible merger, according to a report in The  Star-Ledger newspaper on Friday.
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U.S. and European banks including Citigroup Inc  and HSBC Holdings PLC  are mulling sales of parts of their businesses from branches to entire units in a nod to crunch times ahead, the Wall Street Journal reported on its Web site on Thursday.
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Entrepreneurs are considering selling firms because of uncertainty over capital gains tax, the CBI head says.
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Ford Motor Co.  has hired  investment banks to help it explore options including a sale of  its Jaguar and Land Rover European luxury brands, sources  familiar with the matter said, as several companies ruled  themselves out from bidding.
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Lazard, the world&#39;s largest independent investment bank, has appointed Goldman Sachs to advise on a possible Â£1.7bn initial public offering, or potential spin-off of its asset management or UK broking arms, it has been reported.
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Bristol-Myers Squibb (nyse: BMY - news - people ) will report third-quarter earnings. Analysts surveyed by Thomson First Call expect the pharmaceutical maker to earn 39 cents per share compared with 47 cents a year ago.
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NEW BEDFORD -- The fight for a bigger slice of the pharmacy business in New Bedford is being waged in a converted bank branch on the north side of town.
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U.S. and European banks including Citigroup Inc  and HSBC Holdings PLC  are considering selling off parts of their businesses as they prepare for tough times ahead, the Wall Street Journal reported.
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NEW YORK/LONDON  - Several of the world's top   drugmakers may weigh acquiring Bristol-Myers Squibb Co. BMY.N   after it fired its chief executive, although suitors seem   unlikely to bid before next summer, analysts said.
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Bristol-Myers Squibb Co. , the pharmaceuticals giant that is building a $750 million biotech manufacturing plant on the site of the former Fort Devens US Army base, is aiming to become a major biotech research force in the state, as well.