IN Pipeline 20181110 M&A focus


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#pickbyjd French aerospace and defence company Thales is on track to secure conditional EU antitrust approval for its 4.8-billion-euro ($5.4 billion) bid for chipmaker Gemalto , a person familiar with the matter said, a move set to make it a leading player in digital security services.

** Austrian oil and gas group OMV has agreed on a joint venture with Malaysia’s Sapura Energy, paying $540 million for a 50 percent stake in its exploration assets, aiming to use it as a springboard for further expansion in Asia.

** Japanese drugmaker Takeda Pharmaceutical is set to win conditional EU antitrust approval for its $62-billion bid for London’s Shire, the biggest ever overseas acquisition by a Japanese company, two people familiar with the matter said.

** Industralist Sanjeev Gupta’s Liberty steel company has secured the financing for its acquisition of a Dunkirk aluminum smelter from Rio Tinto.

** A deal to create the UK’s second-biggest retail power provider has been delayed to beyond the first quarter of next year, with SSE and Innogy renegotiating merger terms after Britain’s regulator proposed a cap on energy bills.

** Laser and optical parts maker II-VI Inc said it would buy Apple Inc supplier Finisar Corp for about $3.2 billion, to grab a bigger slice of 5G investments and sell more sensors for iPhones and driverless cars.

** South Africa’s Discovery Ltd said it will issue 11.4 million shares to fund the acquisition of FirstRand’s stake in their credit card joint venture, a condition for the launch of its planned Discovery Bank.

** The chief executive of state-owned oil producer Saudi Aramco said he planned to discuss the purchase of a stake in Novatek’s Arctic LNG-2 project with Novatek’s boss in Moscow, the RIA news agency reported.

** Steelmaker SSAB’s subsidiary Tibnor has agreed to buy the steel distribution business of Denmark’s Sanistal in a 630 million Swedish crown ($69.65 million) deal, SSAB said in a statement.

** French bank Societe Generale has sold a 2.05 percent stake in clearing house Euroclear to Belgian state-owned financial firm SFPI, SocGen said.

** Germany’s antitrust regulator approved the planned merger of department store chains Kaufhof and Karstadt, owned by Canada’s Hudson’s Bay Co (HBC) and Austria’s Signa Holding.

** British online electricals retailer AO World has agreed to buy Mobile Phones Direct (MPD) for an enterprise value of 32.5 million pounds ($42.3 million), it said.

** Top U.S. grain merchant Archer Daniels Midland Co has approached Argentine soy crusher Molinos Agro about buying the company’s livestock feed and soyoil manufacturing plant, and talks may continue, three sources said.

** Australia’s Woolworths Group Ltd said it will sell its petrol business to British petrol retailer EG Group for A$1.73 billion ($1.25 billion). (Compiled by Mary Ann Alapatt in Bengaluru)

IN Pipeline 20181103


 

KKR

** Gene sequencing company Illumina Inc said on Thursday it plans to buy smaller rival Pacific Biosciences of California Inc in an all-cash deal valued at $1.2 billion, expanding its capabilities as the market grows.

** Australia’s MYOB Group said it will grant due diligence to KKR & Co after the U.S. buyout giant sweetened its offer to take full control of the accounting software provider firm to A$1.8 billion ($1.3 billion).

** Canada’s Encana Corp will buy Newfield Exploration Co for $5.5 billion, giving the natural gas producer greater access to North America’s biggest oilfields, and potentially spurring further deals.

** U.S. drugmaker Pfizer Inc is considering options, including a sale of its women’s health portfolio, Bloomberg reported, citing sources familiar with the matter.

** Canadian pipeline operator TransCanada Corp said it is eyeing joint ventures and asset sales, among other options, to finance the construction of its $8 billion Keystone XL crude oil pipeline.

DISCLAIMER: This is a beta blog.  The information is provided by AP, Bloomberg, Forbes, Fortune, preqin, Reuters, TechCrunch, VentureBeat, Wall Street Journal (WSJ), and other 3rd party sources. Please check with the company website or venture capital firm for a press release as this is a beta blog that does not update information.

mergers

 

IN by JD 20181030


#pickbyjd #dealoftheday  The NuCom Group (NCG) and PARSHIP ELITE Group (PEG) are taking over 100% of the US online matchmaking pioneer eharmony. (see press release below)

(PRNewsfoto/eharmony)

OTHER DEALS OF NOTE

** Japan’s Shinwa Bank and Eighteenth Bank Ltd have decided to postpone their planned merger by six months, saying they wanted to bring the dates of their merger and systems integration closer together to avoid complications for customers.

** Britain’s Restaurant Group Plc said it had acquired the Wagamama noodle chain for 357 million pounds ($457.03 million) in cash, expanding its chain of pubs and airport and shopping mall eateries.

** AstraZeneca said it would sell the European rights to acid-reflux medicine Nexium to Grunenthal for an upfront $700 million and future sales-related payments of up to $90 million as it is not in the company’s targeted therapy areas.

Continue reading “IN by JD 20181030”

IN Pipeline 20181029 M&A


Our senior executives can fast track most deals.  Even mega deals.

#pickbyjd (& everyone pick):  IBM Corp’s $34 billion deal to buy Red Hat Inc RHT.N drove shares in the small but fast-growing software maker 50 percent higher on Monday, reflecting the huge premium IBM is paying to ward off any potential challenger bids.

Mega Deal

OTHER NEWS OF NOTE:

** Australian adult education provider Navitas Ltd rebuffed a A$1.97 billion ($1.4 billion) approach from its founder and a private equity firm, leaving some investors concerned the tactic may not generate a better deal.

** Takeda Pharmaceutical Co Ltd has proposed to European regulators it could sell a Shire treatment in development due to concerns of overlap in inflammatory bowel disease treatments and its own drug Entyvio as it seeks clearance for the two companies’ merger.

** Private equity firm EQT made a recommended 5.97 billion Swedish crown ($654 million) cash bid to buy Swedish specialty pharma group Karo Pharma.

** Hitachi has wrapped up a bitter feud with U.S. activist investor Elliott over Ansaldo STS, agreeing to buy the fund’s stake in the Italian rail signalling group as part of a move to take full control.

** Italian regional lender BPER is one of the possible partners for a tie-up with Unipol Banca, the CEO of Unipol group Carlo Cimbri told daily la Repubblica on Monday.

** Italian infrastructure group Atlantia and Spanish builder ACS have completed the joint acquisition of Spain’s Abertis in a 16.5-billion-euro ($19 billion) deal that creates the world’s biggest toll-road group.

** Germany’s ProSiebenSat.1 Media said it had bought U.S. online dating site eharmony, in the first significant deal since it carved out a new e-commerce joint venture with General Atlantic.

** A joint venture signed between defence company Leonardo and shipbuilder Fincantieri will favour Italy’s talks with France over a military shipbuilding deal, Leonardo CEO told Corriere della Sera.

** Greece’s privatisation agency said on Monday it signed a deal to sell railway maintenance company ROSCO (EESSTY) to TrainOSE, a subsidiary of Italian railway operator Ferrovie Dello Stato Italiane, for 22 million euros ($25.05 million).

** Cia Energética de Minas Gerais SA, Brazil’s No. 3 power utility, has received a “tentative offer” for its stake in the Santo Antônio hydropower dam, the company said in a securities filing, but no deal has been agreed on yet.

** Qatar’s Doha Bank has cut its exposure to the United Arab Emirates though an asset swap with UAE banks amid strained relations between the two countries, four sources said.

** The Italian railways is set to hold a board meeting on Monday afternoon to discuss an offer for the whole of flagship carrier Alitalia, a source close to the matter.

DISCLAIMER: This is a beta blog.  The information is provided by AP, Bloomberg, Forbes, Fortune, preqin, Reuters, TechCrunch, VentureBeat, Wall Street Journal (WSJ), and other 3rd party sources. Please check with the company website or venture capital firm for a press release as this is a beta blog that does not update information.

IN Pipeline 20181026


Meet JD Morris at CLO Summit

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#DEALOFTHEDAY >> U.S. telecommunications equipment maker CommScope Holding Co Inc is in talks to acquire set-top box maker Arris International PLC in a bid to expand its offerings, people familiar with the matter said.

** The European Commission said that it had approved Sony Corp’s plan to take full control of EMI Music Publishing, saying the deal would not raise competition concerns.

** Brazil will leave a decision on whether to approve the sale of a controlling stake in planemaker Embraer SA’s commercial jet business to Boeing Co to the next government, Defense Minister Joaquim Silva e Luna told Reuters.

** Delta Air Lines Inc Chief Executive Edward Bastian declined to comment on reports that the No. 2 U.S. carrier is interested in acquiring a stake in Italy’s Alitalia, which was put under special administration last year.

** Thailand’s Minor International has won acceptances for 47.76 percent of NH Hotels Group, Spain’s regulator said, bringing its total stake to 94.14 percent.

** Budget airline Norwegian Air is in advanced talks for a potential joint venture ownership of aircraft in its fleet that would free up cash for the rapidly growing company, it said.

** Finnish elevator maker Kone is interested in consolidation, especially in the service industry, its chief executive said.

** Halfords has dropped its plans to buy Evans Cycles, making way for investors like billionaire Mike Ashley’s Sports Direct to buy the chain, Sky News reported citing sources.

 

** Activist investor William Ackman’s Pershing Square Capital Management has acquired a 3.7 percent stake in hotel operator Hilton Worldwide Holdings, the fund said.

 

** French car parts maker Faurecia SA is set to buy a majority stake in Japanese car navigation system maker Clarion Co from Hitachi Ltd for around 80 billion yen ($710 million), the Nikkei reported.

** China’s Wingtech Technology Co Ltd, the world’s largest smartphone contract manufacturer, is acquiring Dutch semiconductor firm Nexperia Holding by buying a majority stake from its Chinese owners for 25.2 billion yuan ($3.63 billion).

** Australia’s largest wealth manager AMP Ltd said it would sell its life insurance arm at a discount and revealed its funds were haemorrhaging cash as clients pulled out their money in response to revelations of systemic wrongdoing.

** Felix Energy LLC, a closely held Denver-based oil producer with operations in the largest U.S. shale field, is exploring a sale that could value the company at more than $3.5 billion, two people familiar with the matter said.

HAPPY NETWORKING AND INVESTING

JD Morris

JD Morris

 

IN Pipeline 20181022 M&A


DEALS WE LIKE:  Blackstone Group has agreed a deal to acquire Ulterra Drilling Technologies, a manufacturer of drill bits and downhole tools for the oil and gas industry, for around $700 million, two sources familiar with the matter said.

Blackstone

** European Union antitrust regulators will rule by Nov. 27 whether to clear U.S. battery maker Energizer Holdings’ $2-billion bid for Spectrum Brands’ battery and portable lighting business.

** American Railcar Industries Inc, majority-owned by billionaire investor Carl Icahn, is selling itself to ITE Rail Fund in a $1.75 billion deal including debt, the company said.

** The head of Telefonica Deutschland called for EU regulators to block Vodafone’s planned acquisition of Liberty Global, saying it would lead to a “quasi-monopolisation” of the German cable TV market.

Continue reading “IN Pipeline 20181022 M&A”

IN Pipeline 20181018 M&A


DEAL OF THE DAY: Event technology giant Cvent on Tuesday announced it bought Social Tables, the Washington, D.C.-based event technology platform founded by Dan Berger in 2011. The value of the transaction was not disclosed, but pegged by Washington Business Journal as more than $100 million.

OTHER NOTABLE DEALS

** Novartis AG will acquire U.S.-based cancer drugmaker Endocyte Inc for $2.1 billion in cash as the Swiss drugmaker expands its radiopharmaceuticals business, the companies said.

** Private equity giant Blackstone Group has quit a takeover battle for Australian office-block owner Investa Office Fund after it was gazumped by Canadian landlord Oxford Properties Group’s A$3.35 billion ($2.4 billion) bid.

** Linde said it had no knowledge of its planned merger with Praxair being given the green light, denying a media report which said the deal had passed anti-trust hurdles in the United States.

Continue reading “IN Pipeline 20181018 M&A”