Speaking to CEOs, CFOs and other leaders of home-grown Asian corporate giants these days, one increasingly hears the same refrain. “We need to change to become globally competitive.” “We need to bring in new perspectives, new ways of doing things.” "We need a Westerner to conquer Western markets."
Investors were aghast at Olympus's admission that it paid US$687 million to the financial advisor that worked on the Gyrus deal – that's equal to 31% of the US$2.2 billion purchase price. It is the largest M&A fee ever made, wire service Thomson Reuters estimates. The previous record was US$217 million in the far larger €70-billion takeover of Dutch bank ABN AMRO by RFS Holdings in 2007 – some 3% of the purchase price.
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