Download PDF Introduction The second biggest cosmetics company by revenue in the world, Estée Lauder [NYSE: EL] has announced on November 15 that it has signed an agreement to buy the fashion house Tom Ford brand for $2.8bn making it the largest acquisition within the luxury world this year. The Read more…
Download PDF Introduction On November 10th 2022, Origin Energy Ltd. [ASX : ORG], received and backed an $11.8bn takeover bid from a consortium led by Canada’s Brookfield Asset Management [NYSE : BAM] and private equity firm EIG Global Energy Partners. The business is to be split up, with Brookfield acquiring Read more…
Download PDF Introduction On October 31st, Thermo Fisher Scientific [TMO: NYSE], one of the global leaders in the supply of scientific instrumentation, announced that it had entered a definitive agreement to acquire The Binding Site Group, a Birmingham-based specialty diagnostics firm. European private equity firms Nordic Capital and Five Arrow Read more…
Download PDF Introduction On October 27th, Elon Musk – the richest person in the world with a net wort of almost $200bn – finalized the acquisition of the social media company Twitter, Inc, for a total enterprise value of approximately $44bn. Musk is the co-founder and CEO of Tesla [TSLA Read more…
Download PDF Introduction On November 1 Johnson & Johnson, an American multinational which develops medical devices and is ranked 36 in the fortune 500 companies with yearly sales of $98.3bn, announced its proposal to acquire AbioMmed [ABMD: NASDAQ], a cardiovascular technology group. The acquisition, worth $16.6bn, will make Johnson & Read more…
Download PDF Introduction On November 1, 2022, Poseidon Acquisition Corp. entered into a definitive agreement to acquire Atlas Corporation (NYSE: ATCO) in an all-cash deal of nearly $10.9bn (about €10.9bn). The investment vehicles backed by David L. Sokol, Chairman of Atlas’ Board of Directors, affiliates of the Washington Family, Canadian Read more…
Download PDF Introduction On the 31st of October 2022, Emerson [EMR: NYSE] announced a definitive agreement under which it would sell a majority stake in its Climate Technologies company to private equity funds managed by Blackstone [BX: NYSE] in a deal valued at $14bn. Emerson will keep a non-controlling ownership Read more…
Download PDF Introduction On the 28th of September 2022, Shell acquired the Nigerian-owned renewable energy company Daystar Power. This purchase represents a bold move for Shell since it is its first acquisition of a power company in Africa. This deal may be what Daystar Power needs to handle the recent Read more…
Download PDF Introduction On the 26th of October, Intel’s Mobileye made its debut on the NASDAQ (MBLY:NASDAQ), offering c. 46.26m Class A shares, about 6% of the total shares outstanding (816m). The stock opened at $26.71, more than 27% higher than the IPO Price of $21/share: this brought Mobileye to Read more…
Download PDF Introduction Today, private equity funds are facing a major challenge. General partners can no longer rely on multiple expansion and leverage to boost fund returns. As interest rates are being hiked to combat surging inflation, debt is harder to assume, and valuations are coming down across the board. Read more…
Download PDF Introduction On October 1, 2022, RWE [XETRA: RWE], a German power generation company that ranks third in the EU for the quantity of renewable energy it produces, announced its plan to purchase Consolidated Edison’s [NYSE: ED] green energy division. As a result of the current US administration’s Inflation Read more…
Download PDF Introduction On October 17th 2022 Banca Monte dei Paschi di Siena, the world’s oldest bank, started its seventh capital raise in 14 years raising concerns among its shareholders. The bank encountered difficulties to secure large-scale commitments from investors with the Italian Treasury contributing 64% to the capital increase Read more…
Download PDF Introduction The Kroger Company [KR : NYSE], one of the largest supermarket chains in the United States, has announced the acquisition of grocery store Albertsons [ACI : NYSE] in an attempt to expand its market share with hopes of reaching nearly 5000 stores across 48 states. The deal, Read more…
Download PDF Introduction On September 22th Singapore’s sovereign wealth fund GIC announced it would acquire a majority stake in the Mediterranean luxury resorts operator Sani/Ikos Group. The transaction, which values the group at €2.3bn, is expected to close in the fourth quarter, subject to customary regulatory approval. This is the Read more…
Download PDF Introduction On September 27th, 2022, the US-based, private equity firm Energy Capital Partners announced the end of the buyout negotiation of the British waste-management company Biffa Plc for £1.3bn (ca. €1.5bn). The deal is valued at 410 pence per share, or 28 per cent more than the FTSE Read more…