David Becher, PhD in the News

David Becher, PhD in the News

Ask the Experts: David Becher on Citibank Credit Cards

via WalletHub

Associate Professor of Finance David Becher provides insight on the key features of Citibank credit cards, including cash back percentages and the results of a “no late fees” policy.

Will Fox's board snub Comcast?

via Philadelphia Inquirer

David Becher, associate professor of finance, highlights the repercussions of Fox denying Comcast’s $65 billion cash offer for the company.

Comcast prepares to take Disney fight directly to Fox shareholders, SEC filing says

via Philadelphia Inquirer

David Becher, associate professor of finance, provides insight on the bidding war between Comcast Corp. and Walt Disney Co. over Fox.

Campbell's Soup CEO Denise Morrison to Remain on Trump's American Manufacturing Council While President Again Rips Leaders Who Resigned

via NBC 10

Finance professor David Becher offers insight on the decision by a number of corporate CEOs to leave Donald Trump’s corporate and manufacturing advisory boards in the aftermath of his controversial comments on the violence in Charlottesville, Virginia, and Trump’s subsequent dissolution of those boards.

Donald Trump made $39 million running failed casino company

via CNN

David Becher, associate professor of finance, and Ralph Walkling, professor of finance and founder of the Center for Corporate Governance, are quoted in a CNN Money article about dealings between Donald Trump and the public casino company he founded.

Comcast loses $400M over failed Time Warner acquisition

via Philadelphia Business Journal

Although a huge sum, the $400 million lost by Comcast in the failed acquisition of Time Warner is an acceptable risk says Drexel LeBow associate professor of finance David Becher.

Could Geithner Land at Citigroup After Treasury Stint?

via Fox Business

David Becher, Ph.D., was quoted in an October 22 FoxBusiness.com story about the possibility of former Treasury Secretary Timothy Geithner becoming chairman of Citigroup.

Get Me a Sheryl! Facebook COO Model to be Mirrored

via Fox Business

David Becher Ph.D., associate professor of finance, was quoted in a Fox Business article about the role Facebook COO Sheryl Sandberg has played in the ascent of the social networking site. “Running a publicly-traded company is very different than running a private one,” Becher said. “It’s one thing to talk to other engineers or techs about your company; it’s another thing to talk to Wall Street.”

Why the News Corp. Scandal May Have a Silver Lining

via Hollywood Reporter

David Becher, PhD, associate professor of finance, was quoted in a Hollywood Reporter story about the Murdoch family corporate scandal on November 17. According to Becher, “If the scandal forces News Corp. to adopt adjustments to its governance structure and provide greater transparency, this could be beneficial to shareholders.”    

Murdoch clampdown on meeting

via The Hollywood Reporter and The Sydney Morning Herald

David Becher, PhD, associate professor of finance, was quoted in The Hollywood Reporter on October 20, and in the Sydney Morning Herald on October 22, in articles about the first shareholder meeting of News Corp following the company’s recent phone hacking scandal.

CEO pay: Best bang for buck

via Philadelphia Business Journal

David Becher, PhD, associate professor of finance, was quoted in a PBJ article titled “CEO Pay: Best Bang for Buck.”

ING future in Delaware uncertain after Capital One takeover

via Delaware First

David Becher, Ph.D., associate professor of finance, was quoted in a Delaware First article on the future of ING Direct in Delaware. “You could argue that as there is not a lot of direct overlap and given the size of ING Direct, there would not be a need for a large cut in workforce,” Becher says.  “The CEO stated that the company expected ‘modest’ cuts. Further, ING has a very loyal customer base so Capital One will need to be very careful not to do something that causes a lot of customer turnover.”

Takeover rejection aims to boost price

via Reading Eagle

David Becher, Ph.D., associate professor of finance, was featured in an article in the Reading Eagle titled “Takeover Rejection Aims to Boost Price” which talks about the recent acquisition of Cadbury by Kraft. This article was also featured on the Pittsburgh Post Gazette and BusinessWeek.

Becher said the January acceptance of a Kraft Food offer, culminating a four-month fight to acquire Cadbury, fits with what he found when studying 104 hostile takeover bids made between 1993 and 2000.

 

Cravings of Company, Trust Diverge

via The Patriot News

David Becher Ph.D, associate professor of finance, was quoted in an article titled “Cravings of Company, Trust Diverge” in The Patriot News about Hershey’s failed bid to acquire the British confectioner Cadbury.

Becher argued that Hershey’s handling of Cadbury appeared to play out as it should have.

That’s the positive to take out of this: There’s a limit to how much debt they were willing to take on,” Becher said. “If you offered too much, you may win, but you lose.”

Playing 'hard to get' pays off for takeover targets

via The Pittsburgh Post Gazette

David Becher Ph.D., associate professor of finance, was featured in an article in the Pittsburgh Post Gazette about takeovers and the recent bid by Kraft Food’s to acquire the British candy maker Cadbury. The article was also picked up by Business Week.

Dr. Becher said last week’s culmination of Kraft Food’s four-month fight to acquire British confectioner Cadbury fits with what he found when studying 104 hostile takeover bids made between 1993 and 2000.

In those contests, targeted companies that resisted the first offer got at least one additional offer from the same suitor or another bidder more than half of the time. Moreover, the final offer reflected a premium about 22 percentage points higher than the first bid and increased the likelihood of the offer being accepted.

Kraft-Cadbury deal mirrors Drexel Prof's takeover Research

via Philly.com

David Becher Ph.D., associate professor of finance, was featured in an article in the Philadelphia Inquirer about the Kraft-Cadbury acquisition.  

Becher has been researching the expected value of a target company when there is a contested takeover, examining deals between 1993 and 2003.

The article points out that Becher’s research indicates that when management turns down the first offer in a hostile deal, there is usually another bid later at a higher price – which is exactly what happened in the Kraft-Cadbury deal.

The Forever War

via The New York Times

A New York Times Dealbook article references a research paper co-authored by associate professor of finance and Center for Corporate Governance Fellow David Becher, Ph.D.

Harleysville deal unlikely to be the last

via Philadelphia Business Journal

David Becher, a fellow at Drexel University’s LeBow College of Business Center for Corporate Governance and associate professor of finance, commented on an article about the sale of Harleysville National Corp. to Buffalo’s First Niagara Financial Corp. Becher said that depending on the issues involved and how a bank responds, a regulatory action could spell certain death.“If a bank is ordered to raise cash, that could be impossible for some,” Becher said. “But they can change board members or executives and improve the lending portfolio.”

Armstrong, ‘Celebrity’ Directors Targeted in SEC Rule (Update1)

via Bloomberg News

Companies recruiting celebrities to their board often are seeking to burnish their image, said David Becher, associate finance professor at Drexel University in Philadelphia. “If I’m a firm that needs to raise money, a star may help you because of their public profile,” he said. “If a defense company is trying to get an Army or Navy contract, what better person is there than a retired general who has government contacts?”