Features

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.

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