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…
Download PDF Introduction Ernst & Young is leading the biggest shake-up of the audition industry since the collapse of Artur Anderson two decades ago. Towards the end of 2021, EY started discussing a possible split of its advisory business from the auditing operations. The goal of this transaction is to Read more…
Download PDF Introduction On September 21st, European private equity fund Investindustrial announced that it is buying 52% stake in Italian luxury food and beverages group Eataly. The deal will see Investindustrial invest €200m in the company, with plans to increase its worldwide presence. This came as a surprise to many Read more…
Download PDF Introduction Recently, it has been impossible to ignore the troubles Credit Suisse has been facing. After three years of scandals, the bank is evaluating to break up its Investment Bank to try to leave this chapter behind. Under the proposals allegedly put forward to the board, the bank Read more…
Download PDF Introduction On September 21st, Schneider Electric, which owns 60% of Aveva, submitted an offer to buy the remaining shares for £31/share. It will take the company private, in a deal valued at £9.5bn, one of the largest deals in the UK in 2022. However, with falling tech valuations Read more…