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.

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