M&A Features

French gas analysers maker among recipients of angel investment in March

2017 has so far proven to be fairly promising in terms of the aggregate value of angel investment deals signed off in Western European companies, with both January and February surpassing November and December by volume and value. According to Zephyr, the M&A database published by Bureau van Dijk, so far it does not appear that March is likely to reach the same heights. Although there are still 11 days to go until the end of the month at the time of writing, the EUR 52 million invested across 29 deals so far means the result is still some way off the 47 deals worth EUR 120 million signed off in February and the EUR 125 million injected through 52 transactions in January. The result could also be down year-on-year as activity does not appear likely to reach the same levels as March 2016 (43 angel investments worth EUR 111 million). Despite the decline recorded in March to date, there have still been some significant injections announced; so far European angel investments have broken the EUR 10 million barrier in the month under review.

Intel to snap up Mobileye in multi-billion-dollar deal

Intel is targeting the driverless car sector for its next phase of growth as it estimates the industry to be worth up to USD 70,000 million by 2030. The California-headquartered company, which is facing increasing competition from other chip-makers like Qualcomm, has agreed to acquire Mobileye for about USD 15,300 million. Intel is offering USD 63.54 per share, representing a 34.4 per cent premium to the target’s close on 10th March, the last trading day prior to the deal being announced. If the transaction goes through, it will be the largest among those that target Israeli companies, according to Zephyr, the M&A database published by Bureau van Dijk.

Sterling Bancorp and Astoria Financial join bank merger bandwagon

Sterling Bancorp is buying Astoria Financial in a USD 2,200 million all-scrip takeover that will make the combined entity the sixth largest regional bank in the New York metropolitan area. The announcement came just months after New York Community Bancorp dropped its USD 2,000 million offer to take the target private.

Standard Life agrees merger with Aberdeen

Standard Life is acquiring Scotland-based Aberdeen Asset Management in an all-scrip deal worth around GBP 3,776 million. The implied offer price can be valued at GBP 2.87, representing an 18.5 per cent discount to the target’s close of GBP 3.51 on 23rd October 2015, the last trading day before news of the deal was first reported. As a result of the transaction, the merged entity will be held 66.7 per cent owned by Standard Life’s shareholders, with Aberdeen’s owners controlling the remaining stake.

Restaurant Brands to acquire Popeyes

Restaurant Brands International (RBI) announced on 21st February that it would acquire fried chicken fast food chain Popeyes Louisiana Kitchen (Popeyes) just days after its parent 3G Capital abandoned a USD 143,000 million deal to buy Unilever through Kraft Heinz.