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In the crazy days of mobile, when takeover prices were dialled sky-high, it was a case of buy or be bought.
Invensys has been considered a takeover target since at least last year when takeover discussions broke down with Emerson Electric, which is based in St . Louis
When takeover stories are leaked, as details of Kenyon's bid have been, it is often either an attempt to smoke out interested investors or a highly effective way of generating publicity.
"SABMiller's apparent intransigence has to be tempered, in our view, both by its largest shareholder's public support for ABI's proposal and the fate of those companies' share prices where a deal has been aborted recently," he said, pointing to the falls in the share prices of pharmaceuticals company Shire and insurer RSA when takeover approaches for them collapsed.
When takeover rumors for the stock began circulating several months ago, Arden Chairman Richard Ziman Richard Ziman was considered a prime candidate in the effort to take the company private.
The offer was, however, an 18 percent discount from Compellent's closing price on Nasdaq Wednesday, though shares are more than 90 percent higher than they were in late October when takeover rumors started to swirl.
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The twin episodes are reminiscent of the late 1980s and early 1990s, when takeovers by Japanese companies of U.S. businesses such as movie studios inflamed American anxieties.
That today's mergers seem strongly correlated with the resilience of the stockmarket is itself a bad sign: when takeovers using highly rated paper are easy and cheap, the strategic thinking behind them tends to be easy and cheap too.
"We also want to see a long-term view taken into account when takeovers happen rather than an exclusive focus on the immediate returns for investors and increased transparency over advisors' fees which are likely to be substantial in a deal of this size".
When the takeover was finally announced on July 8th the terms, too, were much as expected.
He had been out shooting grouse on the moors when the takeover bid was announced.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com