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"Because of that, that's probably part of the reason he was in play for an acquisition.
Cash is earmarked for an acquisition, but there is nothing imminent.
Profit was also pulled down by expenses for an acquisition and cost-cutting moves.
E.ON agreed to sell its nonenergy holdings to win regulatory approval for an acquisition.
The extra income could, for example, be paid out to shareholders, or used for an acquisition.
Claiborne remains hungry for an acquisition, particularly after getting outbid by Talbots for J. Jill in February.
Blood had been looking for backing for an acquisition of then troubled pub landlord group Admiral Taverns.
KPN has been in the market for an acquisition, and Mr. Henderson said any purchase would be paid with stock.
"Most agencies today like ours are on somebody's list for an acquisition," said Ms. Nichol, chief executive at Nichol.
Mr. Knowlton's deals at First Union included arranging a $225 million financing for an acquisition of the New York Jets.
When a company accounts for an acquisition, it assesses the value of the target, subtracting its liabilities from its assets.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com