What Day Is It?
I’ve detailed in this space how Monday morning is often replete with news of multibillion-dollar takeover deals. This makes perfect sense, because the weekend provides a quiet few days to hammer out details behind closed doors.
I’m fairly certain, though, that just because I gave it so much attention, it hasn’t happened lately. (This is a corollary to the idea that your favorite sports team will start losing, the minute you point out how well they’re playing.) We’ve had to put the alliterative “Merger Monday” moniker on hold, while deals moved to other days of the week.
I’m not sure there have been too many Wednesdays with as many deals as we saw today. Among them:
-Commscope bought Andrew for $2.6 billion dollars
-Guitar Center was acquired by private-equity firm Bain Capital for $1.9 billion
-People’s United Financial bought industry colleague Chittenden Bank in a $1.9 billion dollar transaction
-Fidelity National InformationServices bought eFunds for $1.8 billion.
(For you business trivia fans, Andrew is the company that makes those satellite dishes with the red lightning bolt logo that you often see on top of office buildings.)