In general however, divestitures
tend to receive minimal academic attention as compared to mergers even though both events involve transfers of ownership and control of corporate assets (Gadad et al.
Consummation of the proposal without divestitures
would be consistent with Board precedent and within the thresholds in the DOJ Guidelines in eighteen banking markets.
But as divestitures
carve a greater niche in the market landscape, companies are learning that, contrary to prevailing wisdom, divesting presents challenges not only to the buyer but to the seller, as well.
Lockheed said in a statement that the Justice Department had given it until Monday to respond to the government's demand for divestitures
of key defense businesses, including the production of radar systems and electronic countermeasures, which enable pilots to evade incoming missiles.
Our focus is on growth in the regulated utility, both in transmission and distribution, and we have the financial flexibility, in the form of cash from our divestitures
and access to the debt markets, to execute our plans without modification.
Competitive Analysis in Salt Lake City and Other Banking Markets with Divestitures
Shilkret said that while the branch divestitures
are required by the Department of Justice and state Attorney General's Office to eliminate antitrust concerns, Wells plans additional branch closures to cut costs.
5 billion and immediately initiated efforts to transform the combined portfolio and reduce debt by $15 billion, primarily through asset divestitures
12) After accounting for the proposed divestitures
, consummation of the proposal would be consistent with Board precedent and the DOJ Guidelines in six of the Vermont banking markets: Bennington, Brattleboro, Middlebury, Rutland, Springfield, and Vergennes.
Furthers Focus on Core Business Development
Georgia Gulf repeated that it is expecting proceeds from divestitures
of Royal Group's non-core assets to be approximately $98 million during the fourth quarter of 2006.
No assurance, however, can be given that such expectations will prove to have been correct, or that the Western Gas acquisition and the divestitures
described above will occur.
will be required only if the merger closes.
The company said that proceeds from these divestitures
could be used for a number of alternatives, including reducing debt, repurchasing shares, reinvesting in the business and pursuing acquisitions.
Coupled with the divestitures
of European Seafood, HAK(TM) vegetables, and the HP Foods Ethnic business, and the acquisition of the Petrosoyuz sauces businesses in Russia, Heinz is better positioned for stronger growth and higher gross margins in Europe.