Northwestern Mutual to buy adviser

Article Abstract:

Northwestern Mutual, a Milwaukee, WI-based mutual fund insurer, reportedly intends to acquire pension fund adviser Frank Russell for over $1 billion. The deal, expected to be revealed on Aug. 10, 1998, has been recently approved by both boards of Northwestern and Frank Russell. Although the firms could not be reached for comments, the deal is seen to benefit both firms. Frank Russell provides investment advice to over 200 pension funds in the US, while Northwestern provides life insurance and mutual fund insurance all over the US.

Comment:

Intends to acquire pension fund adviser Frank Russell for over $1 billion

Life Insurance, Direct Life Insurance Carriers, Insurance Agencies and Brokerages, Insurance Agents & Brokers, Insurance industry, Frank Russell Co., Northwestern Mutual Life Insurance Co.

Coke plan to buy Quaker for $16B in stock collapses

Article Abstract:

Negotiations over the acquisition of Quaker Oats by Coca-Cola fell through after both sides failed to agree on the sale price as well as disagreement among Coke board members about strategic direction. Quaker Oats had previously rejected a $14.8-billion buyout offer from Pepsi Cola and a $15-billion offer from French conglomerate Danone. On the other hand, Coke's offer was described as generous. The soft-drink giant was offering $115.09 for every Quaker share, or approximately $16.6 billion, including $600 million in debt.

Canned & Bottled Soft Drinks, Soft Drink Manufacturing, Nonalcoholic Beverages, Soft Drink and Ice Manufacturing, Soft drinks, Quaker Oats Co., Non-alcoholic beverages

Tellabs wants to rework stock swap with Ciena

Article Abstract:

Tellabs is seeking a renegotiation of the purchase price for Ciena as the latter's stock price tumbles. The deal between the two telecommunications equipment makers was originally set at $7.1 billion in June 1998, but doubts were raised after Ciena announced a third-quarter 1998 profit warning. The merger is yet another example of proposed mergers that have been affected by the falling prices in the stock market and could bring in a new player to offer a higher price for Ciena should Tellabs make a lesser offer.

Comment:

Is seeking a renegotiation of the purchase price for Ciena as the latter's stock price tumbles

Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications systems, Tellabs Inc., Ciena Corp.