Opinion: Wall Street Has Started Haggling Again
For most of this year, the question in deal markets was whether there was enough money. This week the question was price, and the people with the money answered it. Take Hancock Whitney’s $3.2 billion all-stock purchase of Trustmark. The board agreed to an 18.6% premium. By the close, Hancock Whitney’s own shareholders had knocked […]
$7.6 Billion Gas Pipeline Plan Would Cross Middle Tennessee
Kinder Morgan Inc. and Southern Co. are moving ahead with a roughly $7.6 billion natural gas pipeline that would run 470 miles from Middle Tennessee to central Georgia, one of the largest gas infrastructure projects proposed in the Southeast, as landowners along the route begin receiving notices. The Southeast Connector is being developed by Southern […]
Treasury’s $25 Billion 30-Year Sale Tails, Capping Weak Week
The Treasury Department’s sale of 30-year bonds on Thursday drew the softest demand in five months, closing out a quarterly refunding in which all three auctions showed investors reluctant to load up on long-term U.S. debt. Treasury sold $25 billion of new bonds due November 2056 at a high yield of 5.441%, with a 5.375% […]
Banco BPM Opens Merger Talks With Credit Agricole, Wants More
Banco BPM SpA’s board agreed to open merger talks with its largest shareholder, Credit Agricole SA, but put the French bank on notice that the price will have to rise to win over the Italian lender’s other investors. Meeting in Milan on Thursday, the board reviewed the Nov. 8 letter in which Credit Agricole proposed […]