« New Business | Main | Advertising Information »

November 02, 2006

Top Stories

CB RICHARD ELLIS ACQUIRES TRAMMELL CROW FOR $2.2 BILLION...CB Richard Ellis Group, Inc. has entered into a definitive agreement to acquire Trammell Crow Company for $49.51 per share of common stock in cash. The transaction is valued at approximately $2.2 billion, including the assumption of Trammell Crow Company’s corporate debt as well as transaction and integration costs. The deal is expected to close either in late 2006 or early 2007, subject to approval by Trammell Crow Company’s shareholders and federal regulatory agencies as well as other customary conditions.

R.R. DONNELLEY TO ACQUIRE BANTA...R.R. Donnelley & Sons Company will acquire Banta, a provider of printing, supply chain management and related services in an all-cash deal valued at approximately $1.3 billion, or $36.50 per share after the special dividend of $16.00 per share already declared by Banta. The agreement has been unanimously approved by the Boards of Directors of both companies and is expected to close in the first quarter of 2007.

CAPGEMINI BUYS KANBAY FOR $1.25 BILLON...Capgemini will buy Kanbay International, provider of technology services to financial institutions, for $1.25 billion in a bid to boost its presence in India and the U.S. Under the acquisition deal, Paris-based Capgemini will pay $29 per share in cash for the U.S. consultancy. With the purchase, India becomes the second-largest operation for Capgemini, after France. Kanbay, which has three sites in India, employs more that 5,000 people.

ADP FIRST QUARTER REVENUES RISE...Automatic Data Processing, Inc. reported 15% revenue growth, to $2.2 billion, and $0.46 earnings per share for the first fiscal quarter ended September 30, 2006. Pretax and net earnings from continuing operations grew 24% and 25%, respectively, and diluted earnings per share from continuing operations increased 31%, from $0.35 earnings per share a year ago on fewer shares outstanding.

COMPANIES MOVING HIGH-END OPERATIONS OFFSHORE...Companies are increasingly moving sophisticated, mission-critical functions such as product design and research and development to China, India and other offshore locations primarily because these countries can provide highly skilled scientific and engineering workers who are in short supply in the U.S. and Europe, according to a new study by Duke University and management consulting firm Booz Allen Hamilton.

Posted by jbowles at November 2, 2006 04:43 PM