Mergers and acquisitions worldwide are gaining momentum in the first quarter of the year in the last three months were made over 2 thousand cross-border acquisitions and hostile takeovers 10. To contribute to this recovery in the global economy and stock market rally over the past 12 months. The value of takeovers increased by 5% annually during the first three months of this year to 498.24 billion dollars, cited by Bloomberg. Hostile acquisitions recorded growth of over 300 percent to 17.46 billion dollars. According to Mark Sharif, head of the Department of mergers and acquisitions for Citigroup, acquisitions may increase by 15-20% by the end of this year, provided that the global economy to shrink again. Last year, the realized value of acquisitions fell by 27 percent to 1.8 trillion. dollars, which is the lowest level for the past six years. Citigroup is one of the largest consultants in this field, she managed the sale of Asian life insurance unit of AIG, which was bought by Prudential of Britain’s 35.5 billion dollars earlier this year. It is the biggest deal in the market of mergers and acquisitions this year. Among the biggest deals this year and became hostile takeover of British chocolate maker Cadbury on the U.S. food manufacturer Kraft Foods. After four tense battle Cadbury has been absorbed by Kraft Foods for an amount of 21.4 billion dollars in February this year.
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The bankrupt U.S. investment bank Lehman Brothers Holdings made new accusations against Barclays Capital on Thursday, saying the British investment bank has benefited by 13 billion “emergency” profit from the transaction for the purchase of Lehman brokerage unit of the United States in September 2008. This week it became clear that Lehman Brothers is preparing to emerge from bankruptcy procedure and to resume its activities in asset management. U.S. banks Citigroup and JPMorgan were charged last week that helped the bankruptcy of Lehman Brothers. Lehman has provided the court in Manhattan, dealing with the case in its bankruptcy documents show that Barclays was actually earned 13 billion dollars in acquiring the unit for managing the assets of Lehman. Barclays announced on accounting profit from the transaction is EUR 4.2 billion, Reuters reported. Lehman Brothers filed for bankruptcy protection on September 15, 2008, after the mortgage crisis and the marketing of derivative financial instruments have led to its bankruptcy, which has become the largest in U.S. history. A week later iconic brokerage unit of Lehman was sold to Barclays for 1.85 billion dollars. According to lawyers of Lehman Brothers deal was hastily organized, and this allows Barclays to obtain the investment portfolio of its U.S. rival with a large discount from its fair value. Are challenged by Barclays of Lehman allegations as unfounded. Lehman, which results in legal battle against Barclays for months, claims that the deal presented to the court, not one that truly is concluded. From U.S. Bank believes that employees of Lehman, which have been offered a job in the unit, acquired by Barclays, it is arranged to receive a discount of 5 billion investment portfolios of Lehman, which includes securities to 70 billion dollars.
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The U.S. banks Citigroup and JPMorgan have helped the bankruptcy of Lehman Brothers, as suddenly increased their requirements for collateral transactions and changed its agreements on reciprocal guarantees. This is clear from the court report for the largest bankruptcy in American history. “Requirements for collateral by creditors of Lehman Brothers had a direct impact on liquidity. Lehman say liquidity is at the heart of why the bank went bankrupt, says Anton Valukas, who is investigating the bankruptcy and author of a report than 2200 pages on the subject. This report was submitted yesterday to a court in Manhattan, transmit Bloomberg. Former CEO of Lehman, Richard Vold AKA Austrheim, CFO Erin Tin and other executives have put a sign the documents with misleading information regarding the financial position of the bank. Among the “most neglected” the situation was precisely Vold AKA Austrheim, the document said.
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