BlackBerry Ltd.’s decision to consider takeover offers is fueling speculation that investors could band together to keep the company in Canadian hands, avoiding the national embarrassment that followed Nortel Networks Corp.’s failure four years ago.
Wall Street takeover advisers, whose business has benefited from low interest rates and record stock prices, are tempering forecasts for the rest of the year as chief executive officers wait to see if a Federal Reserve policy shift moves equity markets.
While the proposed takeovers of Dell Inc. and H.J. Heinz Co. dominated headlines in the first quarter, global dealmaking stumbled, with March on track to be the worst month for mergers in more than three years.
Mergers and acquisitions probably aren’t at the start of a “major” recovery because of economic uncertainty, even amid the planned takeovers of companies such as Dell Inc. and H.J. Heinz Co., said Mark Shafir, global co- head of M&A at Citigroup Inc.
Citigroup Inc. named Eduardo Cruz head of global banking for Latin America and hired Alberto Pandolfi from JPMorgan Chase & Co. to lead mergers and acquisitions in the region, according to an internal memo confirmed by Citigroup spokesman Mark Costiglio .
Banks including Citigroup Inc. and Raine Group LLC may earn as much as $200 million working on Softbank Corp.’s $20.1 billion purchase of a 70 percent stake in Sprint Nextel Corp., according to researcher Freeman & Co.
The value of global takeovers dropped to the lowest level in more than a year this quarter, and dealmakers say Europe’s debt crisis may hamper a recovery in 2012 as cash-rich companies hold off on major purchases.