Finmeccanica Market Cap (as of 11/10/13): €3.23bn Fondo Strategico Italiano (FSI) Market Cap: N/A Italian defence and industrial conglomerate Finmeccanica has agreed to sell its 55% stake in Ansaldo Energia, a maker of thermoelectric turbines, to Fondo Strategico Italiano (FSI), an arm of state-owned lender Cassa Depositi e Prestiti Read more…
AGL Market Cap: 1.6 bn WDF Market Cap: 2.0 bn On the 1st of October 2013, Autogrill S.p.A. completed the spin-off of Travel Retail & Duty Free (TR&DF) that is now controlled by World Duty Free S.p.A. WDF started to trade at a price of €7.13 with AGL trading at Read more…
KKR & Co. LP (Assets Under Management: US$83.5bn as of June 30th 2013) Melrose PLC (Market Cap: US$5.95bn as of October 10th 2013) On October 10th KKR & Co. L.P. announced the acquisition of The Crosby Group and Acco Material Handling Solutions from Melrose Industries PLC in a deal valued Read more…
Oi Market Cap (as of 04/10/13): $2.78bn Portugal Telecom Market Cap (as of 04/10/13): $4.02bn On Wednesday, October 2nd, Oi of Brazil and Portugal Telecom (PT henceforth) agreed to merge after three years of alliance, forming a telecommunication heavyweight which will bring together 100mln customers across the Portuguese-speaking world. The Read more…
Sotheby’s Market Cap (as of 4/10/13): $ 3.46bn Daniel Loeb, CEO of the hedge fund Third Point LLC, announced on the 2nd of October that he has upped his stake in the arts auctioneering firm Sotheby’s to 9.3%, making him the firm’s biggest shareholder. Mr Loeb now holds 6.8m shares Read more…
Telefonica (Market Capitalization as of 27/09: €52.5bn) Telecom Italia (Market Capitalization as of 27/09: €10.6bn) Recent news regarding Telefonica’s interest in Telecom Italia (“TI”) came to no surprise. The deal fits into the recent revival of dealmaking within the TMT sector and culminates months of speculation surrounding Telecom Italia. Read more…
Verizon Communications (Market Capitalization as of 27/05/13: $134.5bn) Vodafone (Market Capitalization as of 27/05/13: $169.2bn) In this follow up on our May 25th article(https://bsic.it/2013/05/25/vodafone-to-do-or-not-to-do-that-is-not-the-only-problem/) we analyze this year’s biggest M&A deal yet, the sale of Vodafone of its 45% stake in Verizon Wireless (henceforth VW) to Verizon Communications for Read more…
BlackBerry Limited (Market capitalization as of 27/09/2013: $4.20bn) Fairfax Financial Holding Limited (Assets under Management as of 30/06: $2.5bn) On September 23rd, Fairfax Financial Holding Limited, a Canadian insurance and investment company, announced it was leading a group of investors to take over BlackBerry Limited, the Canadian smartphone company Read more…
AT&T Inc. (Market Capitalization as of 24/05/2013: $197.6bn) Verizon Communications Inc. (Market Capitalization as of 24/05/2013: $147.0bn) Vodafone Group PLC (Market Capitalization as of 24/05/2013: $144.7bn) Vodafone: M&A since 1985 The strong winds of market activity in the US telecom landscape have recently reignited a dormant flame in the Read more…
Type of deal: Joint Venture Danone (Market Capitalization as of 23/05/2013 €34.63bn) COFCO: state-owned food company in China China Mengniu Dairy Company Ltd.: (Market Capitalization as of 23/05/2013 HK$ 46.87bn, i.e. €4.68bn) On May 20th 2013, with a press release, Danone, the world leader in fresh dairy products, announced its Read more…
Yahoo! (Market Capitalization as of 25/05/13: $28.5bn) Tumblr (Market Capitalization: N/A) On May 20th, Yahoo! continued its aggressive strategy since Marissa Mayer took over as CEO by announcing the takeover of New York-based blogging platform Tumblr for $1.1bn, all in cash. Tumblr was founded in 2007 and has more Read more…
Commerzbank Market Cap (as of 17/05/13): €4.42bn Deal Type: €2.5bn Rights Issue On Tuesday Commerzbank announced the details of the rights issue it previously declared in March. This rights issue will aim to raise €2.5bn in line with Basel III capital requirements. An earlier vote of the Board of Directors Read more…
JC Flowers & Company LLC: $2.3bn under management Cabot Credit Management Group Ltd Market Cap: N/A Deal size: £800mln On 15th of May it was announced that funds managed and advised by JC Flowers & Company LLC have acquired Cabot Credit Management Group Ltd. in a secondary buyout from AnaCap Financial Partners Read more…
Third Point LLC, Asset Under Management (as of 17/05/13): $12.9bn Sony Corporation (SNE), Market Capitalization (as of 17/05/13): $20.37bn Deal type: Spin-off Proposal via IPO Mr. Daniel Seth Loeb, manager and founder of the NY based hedge fund Third Point LLC, has recently turned his attention toward Japan and Sony Read more…
TowerBrook Capital Partners L.P ,Market Cap(as of 16/5/2013): N/A True Religion Apparel, Inc, Market Cap(as of 16/5/2013): $814mln Deal size: $835 mln, all cash The private equity firm TowerBrook Capital Partners agreed on Friday 10th of May to acquire True Religion Apparel, the designer jeans company based in Southern California. Read more…