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Business | 2007 | May | 31


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The Company is a single source for a variety of T&M instrumentation with over 200,000 customers, a 45,000 square foot warehouse and repair facility, and over 14 years of profitability and financial strength
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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(This) will also allow us to sell considerably more bank products"
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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In morning trading, A.G.Edwards shares rose $10.62, or 13.8 percent, to $87.77
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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More information about Rohde & Schwarz can be found at www.rohde-schwarz.com
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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Louis-based A.G.Edwards is the largest independent United States brokerage, with 6,618 brokers and $374 billion of client assets
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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Company headquarters are in Munich, Germany
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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Goldman Sachs & Co.and the law firm Wachtell, Lipton, Rosen & Katz represented A.G.Edwards.(Additional reporting by Michael Flaherty and Tim McLaughlin)
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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A.G.Edwards will pay Wachovia $270 million if the deal falls apart
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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Credit Suisse, Wachovia's investment bank and the law firm Simpson Thacher & Bartlett LLP represented Wachovia
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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Wachovia Securities Chief Executive Daniel Ludeman will retain his title, while A.G.Edwards Chairman and Chief Executive Robert Bagby will be chairman of the combined brokerage
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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The combined brokerage, to be known as Wachovia Securities, would have 14,784 brokers, propelling it past Citigroup Inc.(C.N: Quote, Profile , Research) and ranking just behind Merrill Lynch & Co.(MER.N: Quote, Profile , Research)
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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We've got everything we need right now to grow this business organically"
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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"We will get more mandates on the investment banking side simply because of the greatly expanded retail distribution we will have
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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"It's a good deal for Wachovia," said Mark Batty, an analyst at PNC Wealth Management in Philadelphia, which invests $74 billion
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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Its $1.15 trillion of client assets would trail only Merrill and Citigroup
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
35
It has about 6,900 employees and achieved net revenue of $1.3 billion in the past fiscal year
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
35
Wachovia Securities has 8,166 brokers and $773 billion of client assets
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
35
It expects $860 million of charges and $395 million of annual cost savings from the deal
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
33
Established more than 70 years ago, Rohde & Schwarz has a global presence and a dedicated service network in more than 70 countries
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
33
Test Equipment Connection sells, rents, leases, buys and repairs over 40 different T&M equipment manufacturers, with an in-house calibration laboratory assuring that customers receive only the highest quality test and measurement equipment, services and support
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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About Rohde & Schwarz Rohde & Schwarz is an independent group of companies specializing in electronics
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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"Wachovia is also acquiring the advantage of more scale"
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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Charlotte, North Carolina-based Wachovia, the No.4 United States bank, said the acquisition will expand its brokerage operations in 48 of the 50 largest United States metropolitan areas
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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The purchase "allows us to leverage our investment banking, underwriting and origination capability," Wachovia Chief Executive Ken Thompson said on a conference call
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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Reuters Pictures Editors Choice: Best pictures from the last 24 hours
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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The deal comes eight months after Wachovia bought Oakland, California, thrift Golden West Financial Corp.for $24.2 billion, significantly expanding its mortgage operations
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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View Slideshow Shares of Raymond James Financial Inc.(RJF.N: Quote, Profile , Research), the largest remaining independent brokerage, rose as much as 9.5 percent
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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It is a leading supplier of solutions in the fields of test and measurement, broadcasting, radio monitoring and radiolocation as well as secure communications
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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View Slideshow "Brokerages are demographically attractive with the anticipated graying of baby boomers and increase in retirement assets," said Joseph Dickerson, an analyst at Atlantic Equities in London
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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ADDING SCALE Prudential Financial Inc.(PRU.N: Quote, Profile , Research), which has a 38 percent stake in Wachovia Securities, said it supports the acquisition
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent
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Press Release Body = Test Equipment Connection will distribute a wide array of Rohde & Schwarz instruments, including the FSH Series hand-held spectrum analyzers, FSL Series spectrum analyzers, SML Series signal generators, power meters, and accompanying software
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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Through Wednesday, A.G.Edwards shares had already risen 22 percent this year
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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The combined brokerage would be based in St.Louis.Wachovia Securities is now based in Richmond, Virginia.
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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Shareholders would receive 0.9844 of a Wachovia share and $35.80 in cash for each of their shares
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
23
NEW YORK, May 31 (Reuters) - Wachovia Corp.(WB.N: Quote, Profile , Research) on Thursday said it will buy A.G.Edwards Inc.(AGE.N: Quote, Profile , Research) for $6.8 billion in cash and stock, creating the second-largest United States retail brokerage
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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The terms value A.G.Edwards at $89.50 per share, a 16 percent premium over the stock's closing price on Wednesday and about 21.5 times expected 2007 earnings
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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About Test Equipment Connection Corporation Test Equipment Connection Corporation is the world’s largest vendor/dealer of used and new electronic test and measurement (“T&M”) equipment
May 31 '07 -Business- www.express-press-release.com -equipment,test,schwarz
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Wachovia Securities expects to command a 14 percent market share, operate 3,350 offices and employ 31,000 people
May 31 '07 -Business- today.reuters.com -wachovia,brokerage,assets
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"We've found a perfect partner," Bagby said on the call
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
10
"We knew we needed scale, we knew we needed additional products (amid) a demand from our clients to have one-stop financial services
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
10
We are very (and we mean very) happy to announce that Panoramio will be acquired by Google
May 31 '07 -Business- www.panoramio.com -panoramio,google,photos
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View Slideshow It expects to close up to 230 offices and cut several hundred jobs for brokers with lesser training
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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Our baby is still growing, so stay tuned.
May 31 '07 -Business- www.panoramio.com -panoramio,google,photos
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We have worked hard to arrive to this point, but we know we could not do it without all of you, the wonderful community of people that upload their best photos to Panoramio
May 31 '07 -Business- www.panoramio.com -panoramio,google,photos
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The integration of photos from Panoramio in Google Earth has been so successful since John Hanke suggested it that we see the acquisition of Panoramio as a natural consequence
May 31 '07 -Business- www.panoramio.com -panoramio,google,photos
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Wachovia expects the transaction to close in the fourth quarter, add 1 cent per share to its 2008 operating profit, and generate a 24 percent internal rate of return
May 31 '07 -Business- today.reuters.com -wachovia,expects,agedwards
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(With reporting by Amitha Rajan and Supantha Mukherjee in Bangalore, Aarthi Sivaraman in New York)
May 31 '07 -Business- www.canada.com -genesco,foot,share
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PHILADELPHIA (Reuters) - Shoe and hat retailer Genesco Inc.said on Thursday that it rejected a sweetened takeover bid of $1.2 billion from rival Foot Locker Inc.and hired Goldman Sachs Group to help it explore strategic options, including a possible sale of the company
May 31 '07 -Business- www.canada.com -genesco,foot,share
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The upcoming acquisition will bring many advantages to Panoramio users, starting with a better infrastructure to improve the reliability of Panoramio, more frequent updates of Panoramio’s Google Earth layer, and more resources for some invisible tasks that take time out from working on new features
May 31 '07 -Business- www.panoramio.com -panoramio,google,photos
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"In retail brokerage, scale is key".
May 31 '07 -Business- today.reuters.com -wachovia,financial,percent

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