Arby's Restaurant Group to acquire Buffalo Wild Wings

Arby’s Restaurant has signed a definitive agreement to purchase Buffalo Wild Wings for about USD 2,900 million, including the assumption of debt. The bid of USD 157 per share represents a 32.1 per cent premium over the target’s close of USD 118.85 on 10th November 2017, the last trading day prior to the deal being announced.

LHC to purchase Almost Family

LHC has announced it will acquire Almost Family in an all-stock deal worth USD 2,400 million. The buyer has offered to pay USD 60.88 per share, representing a 15.6 per cent premium over the target’s close on 15th November 2017, the last trading day prior to the deal being announced.

Shanghai Pharmaceuticals to purchase Cardinal Health’s unit

Shanghai Pharmaceuticals Holding is acquiring Malaysia-incorporated Cardinal Health L (Cardinal Malaysia) for USD 1,200 billion, subject to further adjustments based on the target’s working capital, existing cash and assumed debt. The buyer has obtained financing from third party financial institutions and is making the purchase via its Shanghai Pharma Century Global arm. Pending approval from China’s Ministry of Commerce, the deal is expected to complete by the end of Cardinal Health’s fiscal year.

Permira Advisers buy Duff & Phelps

 UK private equity group Permira Advisers has signed a USD 1,750 million deal to acquire a majority interest in Duff & Phelps. The New York-based financial consultant’s shareholders, Carlyle Group, Neuberger Berman and the University of California, are making a full exit through the transaction. Members of Duff & Phelps’ management team, however, will retain a significant stake and will resume their current roles to lead the target’s business. 

 

Tencent to spin off e-book platform on HKEX

China Literature, a unit of technology giant Tencent, is listing its equity on the Hong Kong Stock Exchange (HKEX) through an initial public offering worth about HKD 8.33 billion (USD 1.07 billion). According to the terms, the online publisher is issuing 135.96 million new shares, while its existing investors, Shanghai Trust Bridge Partners and the Carlyle Group, are offering to sell a further 15.41 million through the transaction.

Amneal agrees merger with Impax

 

Amneal Pharmaceuticals is acquiring Impax Laboratories in an all-stock transaction worth USD 1,600 million.  Under the terms, the buyer’s shareholders will control 75.0 per cent of the combined entity, with the remaining 25.0 per cent stake being held by the target’s owners. The boards of the two companies have approved the deal, which is expected to complete in the first half of 2018. Amneal has appointed JP Morgan as an advisor, while Impax is being assisted by Bank of America, Morgan Stanley and Sullivan & Cromwell.

 

Teva to offload assets

Teva Pharmaceutical Industries is selling its intrauterine device manufacturing business ParaGard to Cooper Companies for USD 1.10 billion as it seeks to raise money to reduce debt. The deal is expected to close by the end of this year, subject to closing conditions and regulatory approvals.

Gilead to purchase Kite

Gilead has announced a USD 11,900 million tender offer to acquire Kite Pharma as it seeks to diversity its revenue streams. The purchaser has agreed to pay USD 180.00 per share, 29.4 per cent higher than the cancer drug developer’s close of USD 139.10 on 25th August 2017, the last trading day prior to the deal being announced.

Axis Capital increases price to purchase Novae

Axis Capital has sweetened its offer to acquire Novae Group for GBP 477.60 million. The New York Stock Exchange-listed insurance carrier is carrying out the deal via its unit AXIS Specialty UK Holdings and has agreed to pay GBP 7.15 for each share in the target, up from the GBP 7.00 it previously offered.

United Rentals outbids H&E for Neff

United Rentals is acquiring Neff in a cash deal worth around USD 1,300 million. Under the terms, United Rentals is offering USD 25.00 per share, which is 26.9 per cent higher than the target’s close on 13th July 2017, the last trading day before the takeover was first reported.

Blackstone’s Invitation Homes to acquire Starwood Waypoint

Invitation Homes has agreed to purchase Starwood Waypoint Homes in an all-scrip deal worth approximately USD 4.35 billion.  The offer implies a purchase price of USD 33.88 per share, representing a 0.8 per cent premium over the target’s close of USD 33.62 on 9th August, the last trading day prior to the bid being announced.

FMC to purchase NxStage

Germany’s Fresenius Medical Care (FMC) is expanding in the US by acquiring medical devices maker NxStage in a cash deal worth about USD 2,000 million. The purchaser is offering to pay USD 30 per share, representing a 30 per cent premium over the target’s close of USD 23 on 4th August 2017, the last trading day prior to the deal being announced. Adams Street Partners, a private equity firm invested in NxStage, will make a full exit if the transaction goes through.

Diageo takes a shot at George Clooney’s tequila company

Alcoholic beverages producer Diageo is acquiring Casamigos Tequila for up to USD 1,000 million as it seeks to expand further in the fast-growing tequila sector. This will add to Diageo’s portfolio of luxury tequila brands, which currently include Don Julio, DeLeon and Peligroso. The consideration covers an earn-out payment of USD 300 million based on the target’s performance over the next 10 years.

EQT to take over Rice Energy

Energy firm EQT is acquiring Rice Energy in a deal worth around USD 8,200 million to expand its natural gas business. The two New York Stock Exchange-listed companies, when merged, will become the largest natural gas producer in the US, according to the purchaser’s press release. The announcement comes as energy companies are pouring money into places like Pennsylvania, West Virginia and Ohio, with the US soon to be the largest natural gas exporter globally, Reuters reported.

Glencore launches rival bid for Rio Tinto’s coal assets

Glencore is attempting to outbid Yanzhou Coal Mining for Coal & Allied Industries (CAI), a thermal coal mining subsidiary of Rio Tinto, with a USD 2,550 million cash offer that remains valid until 26th June this year. The payment, of which USD 500 million will be settled over five years after closing, will be funded by cash on hand and committed facilities.

Deere to purchase Wirtgen Group

Deere is carrying out a EUR 4,600 million deal to acquire Wirtgen Group Holding as it seeks to expand into the road construction sector and grow its footprint overseas. The transaction, which is expected to close next year, will be funded by cash and new debt facilities.

CF to buy Fidelity & Guaranty Life

Blank check company CF is acquiring Fidelity & Guaranty Life (FGL) for about USD 1,835 million, which includes the assumption of debt worth USD 405 million. According to Zephyr, the M&A database published by Bureau van Dijk, the takeover is set to become the second-largest acquisition of a pension products provider to date. This comes after the FGL pulled out of its planned merger with Chinese insurer Anbang almost two months ago following US state regulators’ refusal to approve the USD 1,573 million deal.

Clariant to buy Huntsman

Clariant is acquiring Huntsman in an all-stock transaction worth an estimated USD 6,251 million. If the merger goes through it will create a chemical giant with an enterprise value of about USD 20,000 million, according to the press releases of both companies.

Atlantia to acquire Abertis Infraestructuras

Italian toll road operator Atlantia has made a EUR 16,341 million offer to acquire France’s Abertis Infraestructuras as it seeks to expand outside its home country, where business growth has slowed in recent years. According to Zephyr, the M&A database published by Bureau van Dijk, this is Atlantia’s biggest transaction to date and is the largest takeover of a toll operator worldwide.

PetSmart to buy Chewy

PetSmart, a brick-and-mortar pet accessories retailer, is acquiring Chewy in a bid to extend its presence in the e-commerce space. The consideration has not been disclosed, but people familiar with the matter told Recode that the transaction could be worth around USD 3,350 million. According to Zephyr, the M&A database published by Bureau van Dijk, this is the retail sector’s third largest deal to have been announced so far this year.

German surgical appliance and supplies maker among recipients of angel investment in April

2017 has gotten off to a good start in terms of European angel investment. According to Zephyr, the M&A database published by Bureau van Dijk, in Q1 2017 both volume and value were higher than for the same three months in 2016. In total there were 166 European angel investments worth a combined EUR 403 million announced in Q1, marking an improvement on the EUR 318 million invested across 142 deals in the opening quarter of 2016. The result is also higher on both fronts when compared with Q4 2016 (129 deals worth EUR 317 million). This is encouraging and will give many hope that Q2 can also surpass the same period of 2016, thereby getting the year off to a positive start. Q2 is only just underway, but there have already been a number of fairly large angel investments announced since the beginning of April. In the quarter to date EUR 30 million has been invested across 17 deals. A few larger injections will need to be made over the coming months if results are to come close to those for other recent quarters. In 2016 Q2 surpassed Q1 in terms of volume and value, so if 2017 is to surpass 2016 as a whole it is important that significant levels of dealmaking are recorded in the coming months.

Lyft obtains funding from KKR

Last week, Lyft successfully raised USD 600 million from private equity giant KKR in its seventh funding round, amid speculation that the taxi booking application (app) provider may go public in the near future. The deal values the technology company at USD 7,500 million, according to various media reports.

JAB and BDT Capital to buy Panera Bread

Eat-in bakery café Panera Bread agreed last week to be acquired by JAB Holdings (JAB) and BDT Capital for around USD 7,500 million in cash. This is the 11th largest deal to have been announced or completed in the US this year, according to Zephyr, the M&A database published by Bureau van Dijk. The transaction came just days after a person familiar with the matter told Bloomberg the Nasdaq-listed group could potentially be targeted by JAB, Starbucks and Domino’s Pizza.

Hong Kong tycoon Li Ka Shing steps up investment in Canada

Cheung Kong Property Holdings (CKPH), a company controlled by the family trust of tycoon Li Ka Shing, is acquiring Reliance Comfort at an equity price of CAD 2,820 million (USD 2,100 million). Private equity investor Alinda Capital Partners, which is making a full exit through the all-cash deal, has been the owner of the target since 2007 when it took over UE Water Income Fund for around CAD 1,134 million.

Sealed Air signs asset sale deal with Bain Capital

Sealed Air has agreed to dispose of USD 3,200 million-worth of assets to Bain Capital, representing its largest divestment to date, according to Zephyr, the M&A database published by Bureau van Dijk. The seller is shedding its kitchen and workplace cleaning products division Diversey Care, held under Diversey Holdings (DH), as well as a part of its food hygiene business Food Care. The move came almost six years after Sealed Air splurged on the USD 4,300 million acquisition of DH, then owned by Clayton, Dubilier & Rice and the Johnson family.

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.

Hologic to acquire aesthetics firm Cynosure

Hologic has agreed to acquire Nasdaq-listed Cynosure by April this year as it looks to tap the beauty industry for further growth. The deal, which has been approved by the boards of both companies, can be valued at USD 1,440 million, including debt and net of cash. The offer price of USD 66 apiece represents a 28.2 per cent premium over Cynosure’s close of USD 51.50 on 13th February, the last trading day prior to the announcement. According to Zephyr, the M&A database published by Bureau van Dijk, this is Hologic’s first acquisition since its USD 3,743 million purchase of Gen-Probe, a nucleic acid testing system provider, in 2012.

Snap files for IPO

Snap, the parent of social media photo sharing application Snapchat, is trying its hand at the capital market by filing paperwork with the New York Stock Exchange for an initial public offering worth around USD 3,000 million. Founders Evan Spiegel and Robert Murphy, as well as venture capitalists Lightspeed and Benchmark Capital, are expected to divest their stakes through the deal by the end of this year. Underwritten by financial giants including Morgan Stanley, Goldman Sachs and JP Morgan, the IPO is the second largest to have been announced globally in the past four years, according to Zephyr, the M&A database published by Bureau van Dijk. The highest valued IPO during the period is Hotel Lotte’s KRW 5,742 billion (USD 5,002 million) planned listing on the Korea Exchange, which is also set to take place this year.

Chan Zuckerberg Initiative announces first acquisition

In December 2015, Facebook founder Mark Zuckerberg, alongside his wife Priscilla Chan, established the Chan Zuckerberg Initiative (CZI) with an aim to “advance human potential and promote equality in areas such as health, education, scientific research, and energy”, according to its webpage. Funded by the couple’s personal wealth, the USD 45,000 million organisation was formed as a limited liability company (LLC), rather than a charity. Explaining his choice of structure for the entity, Zuckerberg stated: “By using an LLC instead of a traditional foundation, we receive no tax benefit from transferring our shares to the Chan Zuckerberg Initiative, but we gain flexibility to execute our mission more effectively.

Spanish mobile application developer targeted by angels in January

2016 ended on a fairly encouraging note in terms of the aggregate value of angel investment in European companies, although the year as a whole followed the general pattern witnessed in global M&A, in that a decline was registered on 2015. 

McDonald’s to sell businesses in Far East

McDonald’s is reaching out to potential suitors for the sale of its Jasdaq Securities Exchange-listed unit, a process that has been ongoing since 2015. The Oak Brook-based fast food chain intends to offload a 33.0 per cent interest in McDonald's Holdings Company Japan (McDonald’s Japan), for around JPY 100 billion (according to Nikkei Asian Review). Facilitated by Morgan Stanley, the deal has attracted a number of private equity buyers, the Wall Street Journal reported.

 

International suitors line up to invest in Vietnam

Vietnam is the country in Southeast Asia known for its beaches, rivers and Buddhist pagodas, and in terms of mergers and acquisitions (M&A), for several notable inbound deals announced in 2016 which helped push overall M&A value for companies based in the country to the second-highest on record (2012: USD 10,094 million), according to Zephyr, the M&A database published by Bureau van Dijk.

 

Alibaba to delist Intime Retail

This week Alibaba revealed plans to take Intime Retail private for HKD 14,712 million (USD 1,897 million) in a move that will further extend its presence in the brick-and-mortar retail sector. The buyer, which purchased Intime’s shares and convertible bonds back in 2014, will team up with the target’s founder Shen Guojun to acquire the remaining 54.2 per cent stake in the Hong Kong Stock Exchange-listed group. The offer price of HKD 10 apiece represents a 42.2 per cent premium over Intime’s close of HKD 7.03 on 23rd December, the last trading day prior to the announcement. The deal, which is subject to stockholder and regulatory approvals, is expected to take place by August this year.

Australia’s ANZ scales back businesses in Asia

After years of expansion efforts in Asia, the Australia and New Zealand Banking Group (ANZ) is making a U-turn by cutting back on its operations in the region. Last week, the banking group announced it would offload its 20.0 per cent interest in Shanghai Rural Commercial Bank (SRBC) for CNY 9,190 million (USD 1,328 million), which represents about 1.1 times the target’s net assets as at December 2015. Shanghai Sino-Poland Enterprise Management Development and Chinese shipping company China COSCO will each take a 10 per cent stake in the commercial bank. Being assisted by Goldman Sachs, the vendor aims to complete the sale by the middle of this year.

Baidu’s video site seeks billion dollar IPO

Baidu’s iQiyi is planning a USD 1,000 million listing, the Wall Street Journal (WSJ) reported last month, as the online search giant sets its eyes on China’s booming video on demand industry. The IPO, which may take place in either the US or Hong Kong next year, could value the video platform at up to USD 5,000 million, according to the newspaper. This is well in excess of the USD 2,800 million offered by Baidu’s co-founder Robin Li and iQiyi’s chief executive Gong Yu earlier to buy an 80.5 per cent stake in iQiyi. Their proposal was later terminated as it failed to satisfy Baidu’s shareholders, which included hedge fund Acacia Partners. In addition to the IPO, iQiyi is reportedly looking to raise funds via a pre-initial public offering transaction by issuing convertible bonds or other similar securities. According to Reuters, however, Baidu denied reports of such deals being in the pipeline.

Softbank invests in satellite network provider after Trump meeting

Japanese telecommunications giant Softbank is injecting USD 1,000 million in OneWeb, a Virginia-based company that uses satellites to provide rural areas with affordable high-speed internet access. The target’s existing investors are also participating in the funding round and will invest a further USD 200 million. Pending regulatory approvals, the transaction is expected to close in the first quarter next year.

Australia’s Crown Resorts plans Macau exit amid graft crackdown

Crown Resorts, Australia’s largest gaming group, is offloading part of its holdings in Melco Crown, a Macau-focused casino operator listed on Nasdaq. Hong Kong-based Melco International Development, which jointly formed the target with Crown Resorts in 2004, expects to take over a 13.4 per cent interest from its partner for approximately USD 1,188 million. This will reduce Crown Resorts’ stake in Melco Crown to 14.0 per cent.

Tycoon Li Ka Shing pursues another Australian energy firm

After failing to acquire power transmission firm Ausgrid months ago, Hong Kong billionaire Li Ka Shing is giving Australia’s lucrative energy sector another shot. This time he is pinning his hopes on Duet Group with a takeover offer worth around AUD 7.30 billion (USD 5.44 billion). His flagship company Cheung Kong Infrastructure Holdings this week proposed to purchase each share in the utility firm for AUD 3.00, representing a 27.7 per cent premium over the target’s closing price on 2nd December, the last trading day prior to the deal being announced. The news fueled investor enthusiasm, causing Duet Group’s shares to close 16.6 per cent higher on 5th December.

Chinese couriers sort through M&A, IPOs in 2016

Black Friday. Cyber Monday. Singles’ Day. (For those not in the know the latter being not just the largest single-day e-commerce retail event in China but, reportedly, the largest globally). Also, do not forget the run-up to Christmas when some consumers forego traditional brick-and-mortar shopping for the ease of clicking and buying presents from the comfort of a couch.

Anbang in the headlines

Anbang Insurance is the acquisitive holding company that not only has an opaque ownership structure but has also hit the headlines numerous times recently. 

Danish toymaker features in November’s angel investments

In November 2016 to date there have been 16 European angel investments worth a combined EUR 65 million, according to Zephyr, the M&A database published by Bureau van Dijk. It is worth noting that at the time of writing there are still nine days to go until the end of the month, meaning comparisons with previous months will not be on a like-for-like basis.

Boral bets on Trump’s infrastructure plan

Construction materials manufacturer Boral is carrying out its largest-ever investment by acquiring Nasdaq-listed Headwater for around USD 2,600 million as President-elect Donald J. Trump, who will take office in January, seeks to ramp up spending on infrastructure. The Australian firm is offering to buy each share for USD 24.25, a 20.7 per cent premium over Headwater’s close on 18th November. As a result, the target’s equity jumped 17.1 per cent to close at USD 23.52 following the announcement.

Estée Lauder seeks to court millennials

Having missed sales estimates, makeup group Estée Lauder is spicing up its portfolio by acquiring Too Faced Cosmetics, whose quirkily-named products, such as Better Than Sex mascara and Chocolate Bar eye shadow palettes, are popular with youngsters. Private equity firm General Atlantic and married co-founders Jeremy Johnson and Jerrod Blandino are expected to exit by the end of the year. Valued at around USD 1,450 million, the acquisition is by far Estée Lauder’s largest-ever, according to Zephyr, the M&A database published by Bureau van Dijk.

CICC to buy China Investment Securities via reverse-takeover

A year after its listing on the Hong Kong Stock Exchange (HKEX), China International Capital Corporation (CICC) announced last week that it agreed to buy brokerage firm China Investment Securities (CIS) through a share swap. The acquisition will see sole owner Central Huijin Investment, a unit of sovereign wealth fund China Investment Corporation, make a full exit from the target.

Blackstone to take TeamHealth private

Private equity giant Blackstone, alongside other co-investors, has agreed to purchase TeamHealth. With a bid price of USD 43.50 apiece, which represents a 32.6 per cent premium over TeamHealth’s close on 3rd October, the previous day before news of the deal was first reported, the acquisition can be valued at around USD 6,100 million including debt. As part of the board-approved transaction, TeamHealth has 40 days following the execution of the agreement to seek offers from other potential suitors.

US banking landscape remains sparse in 2016

Considering the recent flurry of M&A activity targeting the US banking sector, with 18 deals worth an aggregate USD 1,233 million announced during October alone, you could be fooled into thinking that 2016 is set to top previous years, when actually the reverse is true.

AT&T’s megadeal to buy Time Warner

AT&T, the second-largest wireless carrier in the US, caught the financial market by surprise last week when it agreed to a whopping USD 108,700 million deal to acquire media behemoth Time Warner, overshadowing the buyer’s previous purchase of cable television provider DirecTV (worth USD 67,100 million) last year.

UK smart thermostat maker among angels’ targets in October

There have so far been 21 European angel investments worth a combined EUR 71 million signed off during October 2016, according to Zephyr, the M&A database published by Bureau van Dijk.

Australian gambling firms Tabcorp and Tatts to merge

Tabcorp has on 19th October reached an agreement to acquire Tatts as both Australian Securities Exchange (ASX)-listed companies seek to ward off competition from online gambling operators. Tabcorp will settle the payment with a combination of cash and new shares equating to an offer price of AUD 4.34 (USD 2.56) apiece, up 5.3 per cent from the target’s close on 2nd August 2016, the day when the deal was first reported.  As a result of the share consideration, Tatts’ stockholders will own a 58 per cent stake in the combined entity. Pending approvals from shareholders, the Australian Competition and Consumer Commission and Federal Court of Australia, the deal is expected to close in the middle of next year.

Jack Ma to team up with Steven Spielberg

Hong Kong Stock Exchange (HKEX)-listed Alibaba Pictures, the film production arm of China’s e-commerce giant Alibaba Group, this week agreed to purchase a minority stake in Steven Spielberg’s Amblin Partners. Under the terms of the transaction, Alibaba Pictures will be represented on Amblin Partners’ board and both companies will collaborate to produce, finance and distribute films.

Henderson Group agrees merger with rival Janus Capital

UK-based asset management giant Henderson Group last week made an offer to acquire New York Stock Exchange-listed Janus Capital. As consideration, the buyer will issue 5 new shares in exchange for each share in the target. The deal is worth around USD 2,615 million and the offer price carries an estimated value of USD 14, representing a 2 per cent premium over Janus Capital’s closing price on 30th September, the last trading day prior to the announcement. According to Zephyr, the M&A database published by Bureau van Dijk, the acquisition is set to be the purchaser’s largest to date.

Walt Disney to acquire Twitter?

Since 2014, the prospect of Twitter being a possible takeover target for an even bigger company has been widely reported and discussed in the media. The social networking firm, whose shares have been trading on the New York Stock Exchange since 2013, has attracted potential suitors such as Microsoft, Apple and rival Facebook, as well as non-technology companies including News Corporation and Comcast Corporation. Perhaps most unexpectedly, Walt Disney this week became the latest company likely to make Twitter a takeover offer. The news came shortly after Salesforce.com also reportedly showed interest in bidding for the social media firm last week.

Postal Savings Bank of China to go public

Postal Savings Bank of China (Postal Savings) this month filed a prospectus with the Hong Kong Stock Exchange for its planned initial public offering (IPO), which is set to close next week. As part of the deal, the company will offer shares to both international and domestic investors. Six of China’s state-owned enterprises (SOEs), including State Grid Corporation and Shanghai International Port, have agreed in advance to subscribe for almost half of the IPO shares, which in total represent a 15 per cent stake in the bank’s enlarged capital.

Bayer agrees acquisition of seed producer Monsanto

German chemical conglomerate Bayer last week inked a mega deal to purchase Monsanto, a manufacturer of crop seeds and herbicides. The acquiror will pay USD 128 per share, representing a 21 per cent premium over Monsanto’s close of USD 106 on 13th September 2016, the last trading day prior to the announcement. Including debt, the takeover can be valued at a whopping USD 66,000 million, making it the tenth largest deal announced since 2007, according to Zephyr, the M&A database published by Bureau van Dijk.

Enbridge to buy gas distributor Spectra Energy

On 6th September Canada’s Enbridge announced its intention to acquire Texas-based Spectra Energy, a gas distributor. The buyer offered a price of USD 40 apiece, which represents a 12 per cent premium over the target’s close of USD 36 on 2nd September, the last trading day prior to the deal being announced. The acquisition is worth around USD 28,000 million and is Enbridge’s largest to date, according to Zephyr, the M&A database published by Bureau van Dijk.

China Zhongwang to buy aluminium producer Aleris

Hong Kong Stock Exchange-listed China Zhongwang this week agreed to acquire aluminium products maker Aleris. The purchaser will pay USD 2,330 million as consideration for the takeover, which includes net debt. According to Zephyr, the M&A database published by Bureau van Dijk, the deal is the largest among those targeting aluminium production companies to have been announced since 2007.

Couche-Tard to acquire CST Brands

Canada-based Couche-Tard this week signed an agreement to acquire CST Brands, a petrol station operator. With the assumption of net debt, the deal can be valued at about USD 4,400 million. According to data compiled by Zephyr, the M&A database published by Bureau van Dijk, the transaction is the largest among those that involve motor fuel retailers as targets since 2007.

UK fibre optic technology developer among angels’ targets in August

At the time of writing there have been 20 European angel investments worth a combined EUR 18 million signed off in August 2016 to date. These figures are undoubtedly disappointing and mean there is a mountain to climb in the next nine days if results are to reach the same levels as in July, which it must be noted, was also a disappointing month when compared to those which preceded it.

Australia halts China’s investment in Ausgrid

The cash-strapped New South Wales (NSW) government has in recent years been seeking to offload its electricity assets via several transactions, with the privatisation of Ausgrid being one of those currently in the pipeline. The 50 per cent stake in the power transmission and distribution company can be valued at around AUD 10,000 million (USD 7,624 million), according to the Guardian. Proceeds from the sale will be used to reduce debt and finance infrastructure projects.

Wal-Mart agrees purchase of Jet.com

On 8th August Wal-Mart announced a deal to buy Amazon rival Jet.com, an e-commerce start-up. The consideration was reported to be around USD 3,300 million, which will be settled in a combination of cash and shares. Following the transaction, Jet.com’s co-founder Marc Lore will join Wal-Mart as chief executive to oversee both companies, which will continue to operate as separate brands.

Uber quits battle with Chinese rival Didi Chuxing

This week, taxi booking application (app) provider Uber Technologies agreed to offload its China unit to Didi Chuxing, which intends to integrate with the business upon closing.

Verizon to merge Yahoo! with AOL

Telecommunication network provider Verizon this week announced an agreement to acquire Yahoo!’s operating business.

Softbank to acquire Arm in mega deal post-Brexit vote

This week, Japan’s telecommunication provider Softbank signed on the dotted line to purchase Arm Holdings, a computer microprocessors designer.

Microsoft to buy LinkedIn

Last month, information technology giant Microsoft agreed to purchase business-focused social networking firm LinkedIn for around USD 26,200 million. Under the terms of the acquisition, Microsoft will pay USD 196 per share in cash, which represents a 50 per cent premium over the target’s close of USD 131 on 10th June, the last trading day prior to the deal being announced.

Symantec to acquire web security provider Blue Coat Systems

This week, Nasdaq-listed Symantec agreed to acquire cybersecurity firm Blue Coat Systems (including debt and cash balances) for around USD 4,650 million in cash. To fund part of the consideration, the acquiror has obtained financing from debt providers, including JP Morgan, Barclays, Bank of America and Citigroup. Bain Capital, the owner of Blue Coat, plans to reinvest USD 750 million from the sales proceeds in Symantec’s convertible notes following the deal.  The acquisition, which is expected to close before October this year, is Symantec’s largest since 2005, according to Zephyr, the M&A database published by Bureau van Dijk.

Oil Search to consolidate interests in Papua New Guinea

On 20th May Papua New Guinea-based Oil Search agreed to buy Canadian oil exploration firm InterOil for around USD 2,200 million. The acquisition, which will be carried out by way of a court-approved plan of arrangement, is poised to be Oil Search’s largest to date, according to Zephyr, the M&A database published by Bureau van Dijk.

European Commission blocks takeover of O2

In March 2015, Hong Kong conglomerate Hutchison Whampoa agreed to acquire UK-based telecommunication company Telefonica Europe (O2) for around GBP 10 billion. Li Ka-shing, chairman of Hutchison Whampoa, intended to merge the target with its UK subsidiary Three, another telecommunications provider, following the transaction.

Abbott to purchase heart devices firm St Jude Medical

In a bid to expand its heart devices business, pharmaceutical giant Abbott last month agreed to acquire New York Stock Exchange (NYSE)-listed St Jude Medical for around USD 30,700 million (inclusive of debt), which will be settled in cash and shares. To finance the deal, the acquiror has obtained a debt facility from the Bank of America.

Alaska Air inches forward in Virgin America merger

Early this month, airline operator Alaska Air agreed to take over Virgin America, a California-based budget carrier backed by Richard Branson, for USD 4,000 million (inclusive of debt). The offer price is USD 57 per share, which represents an 86 per cent premium over the target’s close of USD 31 on 22nd March, the last trading day before the acquisition was first reported. Private equity investor Cyprus Capital Partners is among shareholders that are offloading their interests. According to Zephyr, the M&A database published by Bureau van Dijk, the deal is set to be the purchaser’s largest ever.

Paint maker Sherwin-Williams to absorb rival Valspar

Last month paint manufacturer Sherwin-Williams agreed to acquire its competitor Valspar. It made a generous offer of USD 113 per share, which is 35 per cent higher than the target’s close of USD 84 on 18th March, the last trading day prior to the deal being announced.

TransCanada to take over Columbia Pipeline

On 17th March New York Stock Exchange (NYSE) -listed TransCanada announced its intention to acquire energy firm Columbia Pipeline Group (CPG). The buyer is planning to pay USD 26 for each share, representing an 11 per cent premium over the target’s close on 16th March, the last trading day prior to the deal being disclosed.

London Stock Exchange agrees merger with Deutsche Boerse

The London Stock Exchange and Deutsche Boerse have put the speculation of the last few weeks to bed by officially agreeing terms on a deal being described as a merger of equals. The parties issued a joint statement on 16th March, a few weeks after rumours of the proposed combination emerged. The transaction is to be implemented through the establishment of a new UK holding company known as UK TopCo, which will acquire both exchanges, although the existing framework of all entities within the combined business will remain unchanged and the enlarged business will maintain headquarters in both London and Frankfurt. Upon closing, which is expected to follow by the end of 2016 or during the first quarter of 2017, shareholders in the London Stock Exchange will own 45.6 per cent of the combined entity while Deutsche Boerse investors will hold 54.4 per cent. UK TopCo is expected to list in both London and Frankfurt at a later date.

JAB-led group acquires Keurig Green Mountain

Last week, JAB Holdings, alongside a group of buyers, successfully acquired beverage company Keurig Green Mountain, which was subsequently delisted from Nasdaq. The consortium comprised snack food manufacturer Mondelez International, private equity investor BDT Capital Partners and coffee maker Acorn Holdings. Keurig’s shares were priced at USD 92 each (a 78 per cent premium over the target’s close on 4th December, the last trading day prior to the offer being disclosed), valuing the deal at around USD 13,900 million.

Apollo’s multibillion dollar LBO amid tight debt market

Florida-based ADT provides security products such as fire alarms and closed-circuit television cameras. The company has a customer base of 7 million and employs around 17,000 staff at 200 locations. In 2012, it was spun off from American security system provider Tyco International through an initial public offering and it has since been listed on the New York Stock Exchange. 

Food retailer among angel targets in February

February is off to a fairly slow start by volume and value of European angel investment, according to Zephyr, the M&A database published by Bureau van Dijk.

China to spluge on largest foreign acquisition - Syngenta

Syngenta is a Switzerland-based biotechnology firm focused on producing pesticides and genetically modified seeds that enhance crop production. It went public in 2000 and is now listed on both the SIX Swiss Exchange and New York Stock Exchange. The company is among the six largest biotechnology and agrochemical firms worldwide, known as the “Big Six”, which also includes Monsanto, Bayer, Dow Chemical, BASF and DuPont.

Saudi Arabia’s Aramco considers IPO

State-owned Aramco (formally Saudi Arabian Oil Company) is the largest energy company in the world and generates more than USD 1 billion in revenues per day, according to Forbes.  The Saudi oil behemoth claims to have crude reserves of around 260 billion barrels (representing more than 15 per cent of all proven oil reserves) or ten times the reserves of American energy giant ExxonMobil.

Dalian Wanda’s Hollywood ambitions

Dalian Wanda started out as a real estate developer and currently owns numerous high profile properties, such as plazas and hotels throughout China. In recent years, however, it has grown its footprint in other sectors to become a more diversified conglomerate, adding entertainment and tourism businesses to its portfolio.

Mammoth deals amid China’s economic woes

Often described as being as volatile as a casino, China’s stock market began to experience a growing bubble in H2 2014. From 1st July 2014 to 12th June 2015, this led to Shanghai’s SSE Composite Index skyrocketing 152 per cent, reaching its highest level since 2007.

UK firm targeted by angels in August

So far August has not exactly been a bumper month for European angel investment, according to Zephyr, the M&A database published by Bureau van Dijk. 

French tailoring company piques angel interest in June

At the time of writing June looks to have been a disappointing month in terms of European angel investment, according to data from Zephyr, the M&A database published by Bureau van Dijk.

Finnish medical researcher among May’s angel investments

2015 appears to be on something of a downward slide in terms of the aggregate monthly value of European angel investment, according to Zephyr, the M&A database published by Bureau van Dijk.

Portuguese software publisher targeted by angels in April

2015 has so far offered a mix of results for European angel investment, according to Zephyr, the M&A database published by Bureau van Dijk. 

French electronics firm among March’s angel investments

So far in 2015 there have been a series of peaks and troughs in terms of European angel investment, according to Zephyr, the M&A database published by Bureau van Dijk. 

Dutch battery maker targeted by angels in February

2015 appears to be gradually winding up after a slow month in January in terms of European angel investment activity, according to data from Zephyr, the M&A database published by Bureau van Dijk. 

Angels tempted by German recipe and ingredients retailer in November

Decreased volume of angel investments in European companies in November to date has not stopped value from reaching the same level as October, in spite of there still being around ten days left before the end of the month at the time of writing. 

French clothing maker targeted by angels in September

So far in September there have been a total of 21 European angel investment deals with an aggregate value of EUR 23 million, according to Zephyr, the M&A database published by Bureau van Dijk. Volume-wise the situation looks promising as this brings the month close to the 24 transactions recorded in August with a week to go until the end of September at the time of writing.

European angel investment volume and value down for second consecutive month

According to data from Zephyr, the M&A database published by Bureau van Dijk, both the volume and value of European angel investment slipped again in July. So far this month there have been 16 transactions worth an aggregate EUR 27 million.

European angel investment value climbs against a drop in volume in May

According to data from Zephyr, the M&A database published by Bureau van Dijk, lower European angel investment deal volume was made up for by an increase in aggregate deal value in May. So far this month there have been 14 transactions with a combined worth of EUR 62 million, compared to 22 with a value of EUR 36 million in April. 

Decline in volume and value recorded for European angel investment in April

The level of angel investment in Western Europe took a tumble in April, according to data from Zephyr, the M&A database published by Bureau van Dijk.

European angel investment rises in Q1, French price comparison site among investments

Western European angel investment levels look impressive as Q1 nears an end, according to data from Zephyr, the M&A database published by Bureau van Dijk.

Irish sports nutrition firm among top angel investments in February

Angel investment activity in Western Europe continues to look promising as we move towards March, according to data from Zephyr, the M&A database published by Bureau van Dijk. January surpassed December in terms of both volume and value, and February looks close to reaching a similar level, although at the time of writing there are still ten days left of the month.

Danish marketing consultancy features in January’s top angel investments

2014 has started reasonably promisingly for angel investment in Western Europe, according to data from Zephyr, the M&A database published by Bureau van Dijk.

Is restaurant M&A on the menu?

From small burger chains to children-centric diners, dealmaking within the restaurant industry in 2014 has already started on a high note and those lucky enough to be listed are benefiting from successful initial public offerings from the likes of Potbelly Sandwich Works and Noodles.

Finnish reservation service is one of few December angel investments

December has been a quiet month for angel investment in Western Europe, according to data from Zephyr, the M&A database published by Bureau van Dijk. After an impressive showing in November, when EUR 67 million was invested across 29 deals, both volume and value have plummeted to their lowest levels for some time this month.

New Zealand revisited

In May there was a feature about whether New Zealand mergers and acquisitions (M&A) would come up trumps in 2013 and data by Zephyr, the M&A database published by Bureau van Dijk, certainly seems to indicate that this is the case. The value of M&A activity targeting companies in the Southern Hemisphere country in the year to date has already surpassed that of 2012 and is in fact the highest recorded since 2009, helped in part by 15 announced or completed deals worth more than USD 100 million.

Finnish funding round helps November values rise on last month

The peaks and troughs across angel investment in Western Europe throughout 2013 show no signs of abating, as November witnessed yet another fluctuation in the value of deals, according to data from Zephyr, the M&A database published by Bureau van Dijk.

Australia is in the thick of it with IPOs

So far this year, there have been 25 announced or completed initial public offerings (IPOs) worth a combined USD 3,811 million targeting Australia’s stock exchanges, almost triple the USD 1,375 million-worth of listings for all of last year, according to Zephyr, the M&A database published by Bureau van Dijk. While overall value is still a far cry from the USD 18,401 million-worth of announced or completed IPOs in 2007, it is currently at the best level recorded since 2010 (USD 6,224 million) and the figures do not include those companies reportedly waiting in the wings to debut.

German eye-tracking system developer kicks off angel fundraising for Q4

Western Europe’s varying angel investment fortunes throughout 2013 continued in Q3, according to data from Zephyr, the M&A database published by Bureau van Dijk. The third quarter of the year declined on the previous three months in terms of both volume and value.

VCIR Fall 2013: points of interest

Utah, the 45th state admitted to the Union and containing points of interest such as Bryce Canyon National Park, the Sundance Film Festival and Lake Powell, hosted this year’s Venture Capital in the Rockies (VCIR) Fall conference with startups on the hunt for investors including seven local companies alongside cluster of early-stage players from Arizona, Nevada and Colorado.

Cocoa M&A could get sweeter

Mergers and acquisitions (M&A) are probably not the first thing that springs to mind when thinking of chocolate but if you have an interest in the sweetened foodstuffs produced from the seed of the tropical Theobroma cacao tree then keep on reading as a deal is lurking on the horizon that could lead to two dominating, competing forces in the cocoa market.

Luck of the Irish struggles to stop likely angel investment decline in Q3

Western Europe has experienced mixed fortunes in 2013 to date with regard to angel investment, according to Zephyr, the M&A database published by Bureau van Dijk. The first quarter of the year declined from Q4 2012 in terms of value, dropping 10 per cent from EUR 90 million to EUR 81 million.

Foap looks to international expansion following angel round

The first two quarters of 2013 produced positive angel investment results, with increases recorded in both periods, according to Zephyr, the M&A database published by Bureau van Dijk. If the results of July and August to date are anything to go by, the third quarter looks to be well on its way to continuing this trend.

Q3’s early angel investment beneficiaries include online furniture retailer

This year looks to be shaping up nicely for business angel investors, with value advances recorded in both Q1 and Q2 2013, according to Zephyr, the M&A database published by Bureau van Dijk. The market has done well to build on the EUR 716 million which was invested across 342 deals in the final quarter of 2012.

H1 2013 snapshot: South and Central America

Mergers and acquisitions (M&A) targeting companies in South and Central America continued to slide during the first half of 2013, with volume and value falling to their lowest level since H2 2005 and H1 2006, respectively, according to Zephyr, the M&A database published by Bureau van Dijk.

Dexplora funding round helps software sector to remain popular with angels

As the end of H1 2013 approaches, we are starting to get a better idea of how things are shaping up in the business angels market. Globally, the second quarter of this year has already surpassed Q1 in terms of value, according to Zephyr, the M&A database published by Bureau van Dijk.

Japan outbound M&A chugs quietly away

Japanese companies are continuing to actively pursue outbound mergers and acquisitions (M&A) in 2013, but just not at the frantic record-breaking pace of the last two years.

Biotech IPO: a brave new world?

Investors have had their fingers burnt in the past on biotechnology initial public offerings (IPOs) by companies which ended up dead in the water and, subsequently, these potential backers have fled the industry.

URGE IO receives funding to finance ambitious web plans

Business angel deals have showed plenty of promise so far in 2013, with each month of the year to date producing good results, but how sustainable this growth is remains an ever-present question.

Will 2013 be a bumper IPO and M&A year for New Zealand?

New Zealand is an island country famous for its spectacular landscapes, the All Blacks, Sir Edmund Hillary, sheep and being the location of the Lord of the Rings trilogy. However, one other interesting fact is that it has also been the scene of an uptick in mergers and acquisitions (M&A) and initial public offerings (IPOs) of late.

2012 banner year for wholesale and retail trade industry, same for 2013?

It was a banner year for global merger and acquisition (M&A) activity in the wholesale and retail industry in 2012 as a total of 5,960 deals worth a combined USD 256,548 million were signed off over the 12 months, the highest result by value recorded since 2007 (5,987 transactions; USD 319,033 million), according to Zephyr, the M&A database published by Bureau van Dijk.

 

Eye Tech Care’s business angel funding contributes towards worldwide increase

Business angel deal activity was at a high level in the first quarter of calendar year 2013, with a total of EUR 797 million invested across 313 deals over the three month period, according to Zephyr, the M&A database published by Bureau van Dijk.

Tesco fails to crack the US market, profit hit by writedowns

UK supermarket giant Tesco is counting the price of failure after taking its eye off the ball domestically in order to pursue ambitious expansion plans overseas. Profits for the country’s largest retailer by sales were all but wiped out, falling for the first time in almost two decades following writedowns of GBP 2,400 million, largely on the value of its failed Fresh & Easy foray in the US and its UK property portfolio.

 

Wake up and smell the black gold

Joh A Benckiser has just revealed a multi-billion euro offer to acquire DE Master Blenders 1753 in order to use the Netherlands-based producer of the well-known Douwe Egberts brand as a platform to build up a hot drinks empire.

Snapshot: M&A 2013 so far

As the end of first quarter of 2013 edges closer, the thoughts of analysts must be turning to whether global mergers and acquisitions (M&A) activity is showing signs of revival after a number of high profile USD 10,000 million-plus blockbuster deals were announced recently.

 

A recovery in the US housing market could prompt IPOs

With Tri Pointe Homes becoming the first US homebuilder to go public domestically in almost a decade, the slowly thawing initial public offering (IPO) market could attract more sector and housing-related players as the industry is said to be slowly getting back on its feet after hitting rock bottom, though admittedly there was nowhere to go but up.

 

US blockbusters back on the menu?

The year so far has brought the return of the USD 1,000 million-plus blockbuster deals, with USD 10,000 million and above for the likes of US giants Heinz, Dell Virgin Media and NBCUniversal, all of which were announced within the last few weeks alone.

 

Snapshot: Mexico

M&A in Mexico, the emerging market right on the doorstep of the US, has started the year off well, despite the peso slipping amid a broad weakening of emerging market currencies on the back of slowing growth worries.

 

Is the uranium sector on the up?

M&A activity in the uranium sector could be on the verge of a revival, according to analysts, with mining companies seeing increased investment opportunities after the Fukushima disaster in March 2011 cast a distinct pall over the wider industry. If 2013 does mark an upturn in the fortunes of producers, developers and explorers, can the start of such a recovery from bear to bull be sustained?

 

New Zealand 2013 starts off with waste not, want not attitude

The number 13 may well be lucky for New Zealand-based companies as 2013 has kicked off smartly with one of the country’s largest deals in the last six years, according to Zephyr, the M&A database published by Bureau van Dijk. Just the other week Hong Kong giant Cheung Kong Infrastructure, which is controlled by billionaire Li Ka-shing, signalled its intention to expand its geographical presence in a country which it termed as being a core market.

 

Canadian hog market continues to go through pigs and troughs

Hog production in Canada is not be the first thing that springs to mind when thinking about M&A activity but it is an interesting side step away from the global and regional reports which inundate the email inbox at this time of the year.

Mergers in the legal sector

There has been a spate of international consolidation among law firms as legal services providers turn to mergers in an attempt to regain and expand their global footprint in a somewhat sluggish market.

 

Snapshot of the latest US blockbuster deals

In case you missed it, there has been a flurry of announced blockbuster merger and acquisition (M&A) deals targeting companies based in the US at the end of October.

Malaysia is a hotbed for large IPOs

Investor interest in the sale of shares in the traditional Asian financial centres of Hong Kong and Singapore may be waning, but Malaysia’s initial public offering (IPO) market has bucked the trend, proving to be a hotbed for large listings and a bright spot in an otherwise lacklustre sector.

Are Russian IPOs on the up again?

Although worldwide M&A statistics in general continue to make for grim reading, one corner of the globe has so far proven to be fairly active in 2012. The number of Russian companies announcing initial public offerings (IPOs) or reportedly considering listings has been relatively high in the first nine months of the year, most notably the rumoured flotation of mobile phone network MegaFon.

Crisis-hit eurozone countries still waiting for the M&A bargain hunters

One possible benefit of the continuing economic crisis affecting eurozone countries such as Greece, Spain and Portugal is the potential for bargains for companies and investors with money to spend. But it appears that this potential is not being realised, and the lure of rich pickings has so far failed to attract the floods of buyers that might have been anticipated.

Global M&A – a tale of two extremes?

Unsurprisingly, the ongoing global debt crisis has continued to affect dealmaking activity in the first half of 2012, but while uncertainty prevails, there seems to be some light at the end of the tunnel in the shape of possible recovery signs in Europe and the Middle-East.

There's oil in them thar deals

Just a few years ago, the Eagle Ford Shale play in Texas was largely unheard of in mainstream M&A dealmaking, with only independent exploration firms venturing to tap its unknown resources. Today, there are more than 200 companies and lease operators active in the region, all seeking to take advantage of the most active shale play in the world, according to a website devoted to the reserve.

Cleantech PE investment: a new dawn?

Despite the ongoing global financial crisis and various reports lamenting the demise of the sector following a poor performance in 2011, private equity investment in the cleantech market appears to be showing some green shoots of recovery, according to figures from Zephyr.

Reasons to be cheerful - Middle Eastern M&A

Against a backdrop of political stability in the region, M&A activity in the Middle East goes from strength-to-strength, according to data from Zephyr.

Is private equity getting its second wind?

Is it too soon to hope for a return of the big-value buyouts? Deal data from Zephyr shows that the private equity sector has some colour in its cheeks again.

Forget the Year of the Dragon – 2012 is the Year of the Facebook

Facebook’s IPO aims to raise USD 5,000 million – compared to the USD 1,700 million raised by Google in 2004, which at the time set a record.

Australia strikes gold with Chinese investors in January

Chinese investment in the Australian mining sector got off to a flying start in January 2012, with seven deals worth a combined USD 1,203 million. The figure equates to over a third of the USD 3,320 million buyers from the Peoples' Republic - plus countries such as Bermuda, where many Chinese companies are incorporated - spent on targets in the industry across the whole of last year.

Dealmaking amid the debt crisis

The sovereign debt crisis in Europe slowed global dealmaking activity in the second half of 2011 to levels not seen since 2004 but while uncertainty prevails, there are still opportunities for those with the cash.

Groupon and co: A year in deals

Daily deal websites have made a real impact on the dealmaking and capital markets scenes in 2011, from industry leader Groupon’s flotation on Nasdaq to M&A interest in its smaller rivals.

Let’s call the whole thing off

This week Abbott Laboratories was the latest in a line of multinationals announcing break-up plans in an attempt to win favour with Wall Street investors.

A hostile few quarters

Recent months have seen a number of companies announce hostile or unsolicited takeovers. Indeed, the third quarter of 2011 may not have ended, but with 14 such transactions already reported it is the busiest quarter in two years.

German M&A heats up

Germany’s largest steel manufacturer ThyssenKrupp may have announced the highest value deal in July, unveiling plans to launch a share sale worth an estimated EUR 1,730 million in the equity markets in order to pay down debt, but the largest M&A deal targeting a Germany-based company involved RWE dumping a majority stake in its local power network subsidiary Amprion.

Middle East outlook

The Middle East is losing out to heightened dealmaking activity in South America. However, deal values in the region have not taken the dip that could have been expected given the level of political uncertainly emerging in 2011.

Companies pursue growth, hit the acquisition trail

At first blush it appears that a new month may have kick started a new M&A drive by a number of companies looking to accelerate growth, boost annual sales and roll out expansion in high growth markets.

Mid-market US restaurants on investor menu

The largest global deal of April 2011 so far came from France where Vodafone announced it has agreed to sell a 44 per cent stake in domestic mobile service provider Société Française de Radiotéléphone to Vivendi for around USD 11,316 million, according to Zephyr, the M&A database.

US discount stores: three to watch

Private equity houses are circling discount chain operators Big Lots, Family Dollar and 99 Cents Only Stores in the hope of snapping up a sector bargain after the worst US recession in recent memory drove cash-strapped consumers to shop for lower-priced goods.

Mid-February deal snapshot

The long-awaited acquisition of US biotechnology group Genzyme by the French pharmaceutical giant Sanofi-Aventis finally arrived in February, with the European Commission and the US Federal Trade Commission giving the takeover – one of the largest global M&A deals in recent years – a green light on 16th February.

Hotel industry: bang or bust in 2011?

The global hotel industry may look like it is on the way to recovery but there are still thorns among the roses as some hotel operators, which have taken a beating during the downturn, are faced with foreclosure or bankruptcy.

Will M&A value return to Canada in 2011?

Is 2011 the year which will herald a resurgence of larger value transactions targeting companies based in Canada?

 

Corporate raiders: a review of 2010’s hostile and unsolicited takeovers

A number of high value hostile takeovers in 2010 have kept corporate raiders in the headlines throughout the year. It is investments offering steady, non-cyclical returns that are the most frequent targets of high value hostile bids.

Australian minerals and energy sector buoyed by increasing demand

Economies such as Brazil, Russia, India and China may be battling it out between themselves to claim victory as a leading growth region but, according to a report by the Australian Bureau of Agriculture and Resource Economics and the Bureau of Rural Sciences (Abare-BRS), Australia remains a prime investment destination with the value of domestic minerals and energy projects at an advanced stage of development rising to a record high of AUD 133 billion at the end of October 2010.

Look sideways for green shoots, and observe crisis veterans

A side effect of the global downturn has been that companies, which once enjoyed strong revenues from robust industries, are being forced look elsewhere for growth.

One to watch: food industry M&A

The food industry has been an important target of M&A activity so far in 2010, both among financial buyers looking for consistent revenues and producers trying to secure raw material supplies ahead of expected shortages.

Hong Kong IPO market heats up

There are a number of stocks to watch over the coming months as the initial public offering (IPO) market in Hong Kong heats up with several companies waiting in the wings to tap Asian investors for cash.

International eyes on Brazil

Brazil’s hosting of the 2014 World Cup and the Olympic Games in 2016 has sparked a wide range of M&A interest in the country – from advertising to airport security. No doubt this will accelerate over the coming months and years.

Australian wheat market in Agrium crosshairs

Australian wheat draws international interest amid worries over global supplies.

New Thai budget carrier to set the cat among the pigeons

In a hurried press conference this morning, Thai Airways and Singapore’s Tiger Airways announced a major development for the world’s largest aviation market. The pair are to establish a low-cost carrier (LCC) based in Bangkok, allowing Thai Airways to effectively compete in the budget segment at south-east Asia’s busiest airport – and in so-doing they could change the shape of air travel in the region.

Oil and gas players to watch

The oil and gas sector has made headline news in recent weeks, barring BP and the expensive and environmentally disastrous Gulf of Mexico incident. Shares in Dana Petroleum soared by as much as 23 per cent on 2nd July on news Korea National Oil Corporation is in talks to take over the British FTSE 250 oil and gas explorer which owns fields in the North Sea, Egypt and Morocco.

Strong and steady may win the race

The first half of 2010 was another difficult six months for M&A and private equity, and Zephyr data suggested total global M&A value reached its lowest point since 2004. However, some sectors witnessed sharp gains in deal value against the lows. Certain investment darlings are emerging and these are not the distressed assets that have been suggested.

Will emerging markets provide a PE upsurge?

When Bridgepoint Capital agreed to sell UK pet store chain Pets at Home to Kohlberg Kravis Roberts for USD 1,542 million in January, many heralded the return of private equity. There have since been 11 leveraged deals worth over USD 1,000 million announced or completed but the question of how private equity will adapt to the post-Lehman M&A arena still remains.

Is now the time to turn to renewable energy?

The disastrous Gulf of Mexico oil spill crisis, which threatens to become an unparalleled environmental disaster, highlights the need for the world to turn to the cleantech sector. As engineers battle to plug an out-of-control BP oil well, president Barack Obama calls for an overhaul of the US energy policy.

2009

There were no Features published in 2009.