NKK, Kawasaki Tap Top Investment Banks To Negotiate Merger

Tuesday, July 10, 2001
In order to help negotiate its pending merger with Kawasaki Steel Corp., NKK Corp., has called upon Goldman Sachs Group Inc., while Kawasaki has reportedly hired Morgan Stanley Dean Witter to help with negotiations regarding the possible business transaction.

Earlier this year, the same two advisers were hired by Mitsui Chemicals Inc. and Sumitomo Chemical Co. to help negotiate the union of those two businesses, which will form the world's fifth-biggest chemical company.

A value for the steel and chemical mergers will be determined when the parties hammer out a ratio for their share swaps, likely to be later this year, the paper said.

The transactions are likely to be two of the biggest deals this year. Together they are reportedly valued at as much as $30 billion including debt.

In a statement issued last week, after shareholders of both companies approved their plan to merge under a holding company by 2002 and to combine their businesses by 2003, the companies said the ratio of their stock swap "will be determined by both companies, taking into consideration fairness opinion from independent professional institutions."

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

LNG-fueled Box Ship a 'Momentous Step Forward'

On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S.

Migrant Crisis Promts Call to IMRF for Help

Mediterranean Rescue Services are in urgent need of support because they are struggling to keep up with the replacement of equipment being used to rescue the increasing

ZIM Transitions Fleet to StowMan(s) Software

ZIM Integrated Shipping Services Ltd, Israel  has decided to enhance its stowage planning for its containership fleet (currently 93 ships) in the future by using

Finance

Fleet Growth Weighs on Product Tanker Earnings

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term,

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Obama Pushes for U.S. Icebreakers

President Barack Obama on Tuesday will propose a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic,

 
 
Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1322 sec (8 req/sec)