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Cross-Market Commentary: M&A Deals Can Have A Big Effect On Earnings Anticipation Feb 11
Standard & Poors, Feb 2011
Abstract
Companies continue to make transformative mergers and acquisition (M&A) deals, as evidenced by the batch of recently announced deals. The Valuation and Risk Strategies (VRS) research team previously noted the trend in the article titled 'In Corporate Acquisitions, The Next Big Deal Is Also Often The Biggest Deal' (published Nov. 22, 2010, on the Global Credit Portal). Now, according to a more recent search of Capital IQ data, of the top 10 recently declared U.S. acquisitions by publicly traded domestic buyers, six represent the respective buyer's largest-ever acquisition. And none of the remaining four announced deals rank lower than fourth among those buyers' all-time acquisitions (see table 1). What impact have these pending purchases had on anticipated earnings for these...
Companies mentioned in this report are: Comerica Inc.,Duke Energy Corp.,Amgen Inc.,DISH Network Corp.,ProLogis,Rock-Tenn Co.,Qualcomm Inc.,ProLogis Inc,Cumulus Media Inc.,Smurfit-Stone Container Corp.,Verizon Communications Inc.,Massey Energy Co.,Progress Energy Inc.,Alpha Natural Resources Inc.,Terremark Worldwide Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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