HARTFORD, Conn. - Shares of General Electric Co. fell nearly 10 percent Thursday as the industrial and commercial conglomerate announced a share offering that was priced at a discount to the stock's closing price the previous day. The drop continued a slide that accelerated last month as investors fled companies such as GE that operate significant financial business.
Multi-Purpose Holdings has embarked on a transformation path to become a pure NFO player in Malaysia. Is it a wise move? IT WAS supposed to be a new gaming play then. But three years after privatising the numbers forecast operator (NFO), Magnum Corporation Bhd (as it was known then), that message apparently never really did get through to investors. Despite holding 51% in the privatised Magnum Holdings Sdn Bhd (Magnum), investors never really latched on to the idea that they could instead play the privatised Magnum gaming earnings via its 51%-owned parent, Multi- Purpose Holdings Bhd (MPHB). Meanwhile, gaming analysts prefer to shift their focus to other pure players like Berjaya Sports Toto Bhd (B-Toto) in the sector rather than tracking MPHB, which has a myriad of other businesses as ...
... reinvigorate the deeply undervalued conglomerate. With its move to gain full control of gaming arm ... is now trading at a massive 40% plus discount to its sum of parts (SOP) valuation of RM4.61 (see...
LONDON/STOCKHOLM (Reuters) - Old Mutual is selling its Nordic business for 22.5 billion Swedish crowns ($3.2 billion) to its Skandia Liv unit, allowing the London-based insurer to cut debt and focus on a rapidly growing African business. Skandia Liv, a mutual insurer - owned by its policyholders - which is already part of the Old Mutual conglomerate, said on Thursday [Dec. 15] it would fund the deal by selling assets, mostly shares.
..., is weighed down by a "conglomerate discount.". Old Mutual's biggest shareholder,, which has pr...
LONDON (Reuters) - Insurer Old Mutual is committed to offloading its majority stake in South African lender Nedbank once conditions allow, and has not ruled out smaller disposals before the end of 2012 to hit debt reduction targets, its CEO said. At some time in the future I would like us not to have that banking exposure. For Old Mutual shareholders, we are not bankers, we are insurance people," Julian Roberts told Reuters in an interview on Thursday [Aug. 11]. "Am I concerned right now that I have banking exposure? No, because it's an extremely good bank and it's growing well.
... believe it is worth a premium and not a discount," he said. Old Mutual investors have complained th... of its businesses, weighed by a "conglomerate discount.". But Mr. Roberts said Old Mutual's shar...
We directly test the impact of increases in global and industrial diversification on firm value and operating performance. Our sample represents 194 US firms that acquired foreign companies during 1985-1998. Announcement period returns are significantly positive for the acquirers. Acquirer firms with fewer growth opportunities, as measured by Tobin's q, create more value than do firms with more growth opportunities. Announcement-period returns and changes in operating performance are lower for firms that increase their global, industrial, or both forms of diversification.
... acquired companies that are trading at a discount when compared to their peers. Campa and Kedia (200... (1994) develop a way to compare conglomerates' values to the imputed values of their component s...
... statutory language or specific discounts, (123) Mr. Terwilliger captures the sentiment of m... in Munich in 2007, the German conglomerate undertook a global corruption investigation in 34 ...
... continues to mistakenly apply a conglomerate discount to its stock," stated Warren G. Lichtenst...
The Energy Policy and Conservation Act of 1975 (EPCA), as amended, prescribes energy conservation standards for various consumer products and certain commercial and industrial equipment, including low-voltage dry-type distribution transformers, and directs the U.S. Department of Energy (DOE) to prescribe standards for various other products and equipment, including other types of distribution transformers. EPCA also requires DOE to determine whether more- stringent, amended standards would be technologically feasible and economically justified, and would save a significant amount of energy. In this notice, DOE proposes amended energy conservation standards for distribution transformers. The notice also announces a public meeting to receive comment on these proposed standards and associa...
...Standards Compliance Date. f. Discount Rates. g. Lifetime. h. Base Case Efficienc... supplier is a subsidiary of a large conglomerate and has commented that it has the financial resour...
This article studies variations in the value of diversification across time under various capital market conditions. I find that when external capital is more costly at the aggregate level, the value of conglomerates increases relative to focused firms. I also find that this increase is greater for financially constrained conglomerates, such as bank-dependent or small conglomerates. My findings support the theories on the advantage of diversification over focus. They suggest that the ability to substitute external capital markets with internal capital markets creates value for conglomerates when the financing cost in external markets is high, especially for those conglomerates that are financially constrained.
... the method used in the diversification discount literature and use conglomerate excess value to me...
... by minority and lack of marketability discounts totaling 15 percent. Held, further, sec. 2704(b), ... relied on a report stating that conglomerate public companies tend to sell at a discount of abo...
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