Reform gives the eight German stock exchanges a single voice, while confirming the dominance of Frankfurt and Dusseldorf.
- For Germany it's nothing ventured. . . . (Venture capital
operations in West Germany.)
- Corporate treasurers: Inside the new in-house banks.
Suddenly corporate treasurers are radically changing their attitudes. They want their departments to generate profits, instead of being cost centres. The most advanced are even setting up their own banks. And the Japanese are developing their new art of zaiteku. But all this involves dangers.
- Poison pills outclass lock-ups. (Hostile corporate
takeovers.)
- Leveraged buyouts: The LBO craze flourishes amid warnings of disaster
When Euromoney first pointed out the dangers of the leveraged buyout (April 1984) the fashion was new and exciting. Too exciting, declared Paul Volcker, who subdued the general enthusiasm for a time. But the fashion came back, with complications explained in full for the first time here.
- The perils of privatization.
- Tokyo takeovers are for Japanese only.
- Turkey's way to the west.
- US deals keep investment banks top.
First Boston and Goldman Sachs did most M&A business but Morgan Stanley handled the most valuable deals.
- Belgium on the straight and narrow.
- Merged bank technologies: When the bride wants her own furniture. (Data processing difficulties in London's financial district.)
The first thing to be done after the honeymoon is to throw out the junk . . . Junk? That's my favourite computer system . . . And the word "incompatibility" begins to trouble those cosy marriages of brokers, jobbers and merchant banks.
