Murdoch May Be Heading for a Pyrrhic Victory
The debt of a combined 21st Century Fox-Time Warner would be four times earnings before interest, taxes, depreciation and amortization, after accounting for synergies – higher than most peers, Robert...
View ArticleBotox Maker’s Bosses Put Money Where Their Mouths Are
Allergan, the target of a $52 billion hostile bid, is linking stock and option grants to lofty profit goals. It is a bold tactic that should become a norm in M.&A., contends Robert Cyran of Reuters...
View ArticleTax Inversions Spinning Out of Control
Hospira’s potential $5 billion deal for a Danone unit highlights a variation on inversions: "spinversions." The odd combination, says Robert Cyran of Reuters Breakingviews, also reflects the perverse...
View ArticleFrench Telecom Iliad’s Flaky Offer for T-Mobile US
The French upstart's bid premium relies on improbable synergies, says Robert Cyran of Reuters Breakingviews. But the intervention may intensify antitrust objections to Sprint’s rival offer.
View ArticleBanks Exit I.P.O. They Should Have Passed Up in the First Place
Deutsche Bank and Wells Fargo nixed a biotechnology I.P.O. six days after shares started trading. Their reasoning looks defensible but their due diligence beforehand less so, Robert Cyran writes for...
View ArticleRoche’s Merger Bet Outsmarts the Ice Bucket Challenge
InterMune's merger with Roche may show there is more money to be made in certain drugs as far as Wall Street is concerned, writes Robert Cyran of Reuters Breakingviews.
View ArticleBuffett’s Involvement in Burger King-Tim Hortons Deal Is a Diversion
Warren Buffett’s involvement in the Burger King-Tim Hortons merger tells regular investors nothing, and doesn't really work against the president's call for "economic patriotism," writes Robert Cyran...
View ArticleSquare Feeling Squeezed From All Sides
Increasing competition and the need to diversify into other businesses are putting pressure on Square, Robert Cyran writes for Reuters Breakingviews.
View ArticleApple’s Recipe for Emptying Pockets and Wallets
The tech giant has developed an iPhone payment system that looks secure and easy to use. Its new watch has the potential to replace car keys, Robert Cyran of Reuters Breakingviews writes.
View ArticleValeant’s Last Shot to Woo Owners of Botox Maker Allergan
The mid-December vote on replacing a majority of Allergan's board is Valeant's last best hope for its $51 billion hostile takeover.
View ArticleLarry Ellison Keeps a Hand on the Wheel at Oracle
Mr. Ellison's 25 percent stake in the company -- and dual role as chairman and chief technology officer -- ensure he’s far from relinquishing control, Robert Cyran of Reuters Breakingviews writes.
View ArticleU.S. Curbs on Inversions May Deter Some Pharmaceutical Deals
Some American-led transactions may survive on strategic logic. But pure tax-avoiding combinations look tricky, Neil Unmack and Robert Cyran of Reuters Breakingviews write.
View ArticleSam Waksal’s New Biotech Venture Tests Investor Forgiveness
The former ImClone boss who went to prison for an insider trading scandal follows others given second-chances like Donald Trump, Robert Cyran of Reuters Breakingviews writes.
View ArticleAmgen’s Boss Makes a Prime Breakup Target for Loeb
The idea of a corporate split comes up often in the drug industry but rarely happens. But Amgen's drug focus and the banker background of its C.E.O. give the notion a chance, Robert Cyran of Reuters...
View ArticleTwitter’s Valuation Tips Back Toward Earth
Investors knocked more than $3 billion off Twitter’s worth despite sales doubling. Blame the company’s overdone value multiples, writes Robert Cyran of Reuters Breakingviews.
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