CME Group (CME) said it completed its acquisition of the Kansas City board of trade (KCBT) for an undisclosed amount. Such deals have contributed to an unusually high proportion of the Chicago-based derivatives marketplace’s assets. CME explained that its agreement with KCBT, the futures market for hard red winter wheat, would provide the customers of [...]
Tag Archives | acquisitions
Already High In Goodwill Assets, CME Does Another Acquisition
December 3, 2012 in Corporate Governance, Daily Viewpoint
GMI Ratings Governance Issue | TransDigm Group Inc.
October 15, 2012 in Corporate Governance, Daily Viewpoint, Flash Reports
TransDigm Group Inc. (TDG) recently obtained $550 million of debt from private investors. The aircraft parts supplier has borrowed billions and acquired assets that it now estimates have significantly boosted its earnings, presenting its finances in the best rather than the most conservative light. On October 3 Transdigm asked its senior lenders to reset certain unspecified [...]
GMI Ratings Governance Issue | Zillow
September 5, 2012 in Corporate Governance, Daily Viewpoint, Flash Reports
Zillow’s CEO Spencer Rascoff shared tips with entrepreneurs on how to prepare for an initial public offering such as the one he pulled off in July 2011, the Seattle Times reported in recent weeks. Be profitable, Rascoff advised. He had waited until his online real estate firm was profitable, Rascoff reportedly said. While Zillow has [...]
GMI Ratings Governance Issue | Avnet, Inc.
August 10, 2012 in Corporate Governance, Flash Reports
This week Avnet, Inc.’s CEO Richard P. Hamada characterized his team’s spending on stock buybacks as supported by operations and spending on mergers and acquisitions as “value-creating.” But the technology and electronics supplier’s recent steps have exposed Avnet’s investors to the increasing possibility of unpleasant earnings surprises. Avnet’s financial statements reflect an AGR score of [...]
GMI Ratings Governance Issue | The Shaw Group
August 2, 2012 in Corporate Governance, Flash Reports
As Chicago Bridge & Iron Company N.V. works through closing its agreement to buy The Shaw Group for roughly $3 billion in early 2013, the engineering and construction firm should scrutinize its rival’s costs. Shaw’s financial statements reflect an AGR score of 12, indicating more accounting and governance risk than 88% of comparable companies. CB&I’s [...]
GMI Ratings Governance Issue | Cisco Systems, Inc.
June 27, 2012 in Corporate Governance, Daily Viewpoint, Flash Reports
Cisco Systems, Inc. lost its key acquisitions executive, Ned Hooper. After laying off thousands of people and announcing plans to streamline its operations in 2011, the Santa Clara computer networking company has continued buying up new investments in recent months. As the business grapples with the resulting chaos, its financial statements remain an uncertain hodgepodge [...]
GMI Ratings Governance Issue | Rakuten, Inc
June 13, 2012 in Corporate Governance, Flash Reports
As Hiroshi Mikitani pushes ahead with his dream to rule the world’s most dominant Internet service giant, his company Rakuten, Inc. said on Wednesday that it bought the Spanish video on demand business Wuaki.tv for an undisclosed amount. This latest effort adds to the uncertainty that’s apparent in the Japanese firm’s financial statements. CEO Mikitani, [...]
GMI Ratings Governance Issue | Stryker Corporation
June 6, 2012 in Corporate Governance, Flash Reports
Stryker Corp. executives have made progress this year toward putting U.S. Department of Justice matters behind them, but the orthopedic implant maker continues facing uncertainty on other fronts. With a new CEO at the helm as of February, Stryker must deliver on aggressive bets about its recent acquisitions. The DOJ had subpoenaed Stryker in 2010 [...]
GMI Ratings Governance Issue | VeriFone Systems, Inc.
May 25, 2012 in Corporate Governance, Flash Reports
VeriFone Systems, Inc.’s CEO Douglas G. Bergeron is aggressively pushing to expand the electronic payment company by doing acquisitions. In the process, he’s exposing his investors to the risk of surprises such as the stock’s price drop on Friday. Bergeron said Thursday that the San Jose-based company had earned 13 cents a share in the [...]