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.

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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.

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M&A IN Pipeline 20181009


Private Equity

DEAL OF THE DAY:  Barnes & Noble’s future as a takeover target is more mystery than romance. The U.S. bookstore’s founder Leonard Riggio, who owns just shy of 20 percent of the company, wants to take the struggling $485 million chain private. Even with conservative assumptions, a leveraged buyout – at least on paper – could do well. The key is to cook up a decent ending. (Compiled by Aakash Jagadeesh Babu in Bengaluru)

** Western Australia state will sell its horse-race betting business and levy a new tax on foreign bookmakers, the state treasurer said.

** Lactalis, the world’s largest dairy firm, said it had agreed to buy the chilled dairy business of Nestle in Malaysia in a deal worth about $40 million.

** Poland’s state-run fund PFR has agreed to buy back its mountain cable car operator PKL from private equity fund Mid Europa Partners for an undisclosed sum.

** Swiss specialty chemicals maker Clariant expects to raise 1 to 2 billion Swiss francs ($2.01 billion) from selling portions of its plastics and coatings business, Chief Executive Hariolf Kottmann said in an interview with the Tages-Anzeiger newspaper.

** Nelson Peltz’ Trian Fund Management LP is evaluating a takeover bid for Papa John’s International Inc, the Wall Street Journal reported, citing people familiar with the matter.

** Chinese gaming and social media firm Tencent Holdings Ltd paid $180 million for an undisclosed minority stake in Brazilian financial technology company Nu Pagamentos SA, both companies said.

 

M&A IN Pipeline 20181008


KKR

** KKR & Co has launched a A$1.75 billion ($1.24 billion) takeover offer for MYOB Group after buying almost a fifth of the Australian accounting software provider, as the U.S. private equity firm grows its portfolio of tech businesses.

** Czech lender Moneta Money Bank announced plans on Monday to acquire domestic peer Air Bank and other assets in one of the largest deals in the Czech banking sector in recent years.

** Orsted, the world’s largest offshore wind developer, said it would buy U.S.-based Deepwater Wind LLC for $510 million as part of its strategy to expand in a major growth market.

** Britain’s largest listed insurer Prudential Plc is eager to make acquisitions in Asia and is eyeing distribution partnerships with banks in countries including Indonesia and Vietnam to boost growth, its Asia chief executive said.

** Australian Unity Office Fund said that funds managed by Starwood Capital Asia Ltd raised their buyout offer for the real estate investment trust for a third time, making the deal potentially worth A$480.4 million ($338.9 million).

** Asset manager Schroders Plc and Lloyds Banking Group said on Sunday they were in discussions over a wealth management alliance.

** Britain has sought additional reassurances from cable company Comcast over the editorial independence of the Sky News television channel following the U.S. group’s takeover of broadcaster Sky.

** France would block any moves by a foreign power to gain control of ADP, the airports company whose possible privatization has been approved by the government, Finance Minster Bruno Le Maire said. (Compiled by Aakash Jagadeesh Babu in Bengaluru)

** The European Commission approved without any conditions the acquisition of Swedish Com Hem telecoms services provider by rival Tele2.

** AlixPartners, the interim manager of Abraaj’s $1 billion healthcare fund, has decided to redistribute the troubled private equity firm’s stake in the fund to its other investors, sources familiar with the matter said.

** Apollo Global Management LLC said that it agreed to buy about $1 billion portfolio of equity investments in energy assets from General Electric’s finance arm GE Capital.

** EU antitrust regulators are set to approve Microsoft’s $7.5 billion bid for coding website GitHub without demanding concessions, two people familiar with the matter

** Jose Seripieri Filho, a shareholder and founder of Brazilian healthcare insurer Qualicorp SA, has pledged to acquire at least 150 million reais ($39.1 million) worth of the company’s shares, the firm said.

** Deep-sea oil driller Ensco Plc said it would buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to increase its rig count and benefit from Rowan’s joint venture with Saudi Aramco.

** BNP Paribas, France’s largest listed bank, said that it plans to sell part of its 22 percent stake in Indian insurer SBI Life over the coming quarters as local regulation requires a larger free-float for SBI Life.

** China’s Evergrande Health Industry Group Ltd shares slumped, on news it was being sued by electric vehicle (EV) start-up Faraday Future for failing to make a payment and that Faraday was looking to scrap a deal to sell a stake.

** French hospital operator Ramsay Generale de Sante raised its cash bid for Sweden’s Capio by almost 20 percent, valuing the company at around 8.19 billion crowns ($903 million).

** A wealth management tie-up between Schroders and Lloyds would give the asset manager access to the distribution network of Britain’s biggest bank, which would gain investment skills and greater diversification, analysts said.

** Baker Hughes, the world’s second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company’s (ADNOC) drilling unit for $550 million under a tie-up.

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.

M&A IN Pipeline 20181005


mergers

DEAL OF THE DAY:  North American drilling contractor Precision Drilling Corp said it would buy Trinidad Drilling Ltd in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services.

DISCLAIMER: This 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.

MORE DEALS:

Blackstone

** BackBlstone Group LP said it has agreed to acquire life sciences investment firm Clarus, in an effort by the world’s largest alternative asset manager to scale up its investments in healthcare.

** Intu Properties shares jumped more than 27 percent on Friday, lifted by news of a potential cash takeover offer for the business as it grapples with a downturn in Britain’s bricks-and-mortar retail sector.

** Russian farming conglomerate Rusagro said it had acquired the rights to purchase a controlling interest in Quartlink Holding Limited which owns the holding company Solnechnye Producty.

** Steinhoff’s Mattress Firm Inc, the largest U.S. mattress retailer, has filed for voluntary bankruptcy protection, giving it breathing room to restructure and shore up its finances as its South African parent company fights for survival.

** Italy’s Salini Impregilo is working with Bank of America Merrill Lynch and advisers Vitale & Co on options for a possible full or partial takeover of troubled builder Astaldi, sources close to the matter said.

** Italian broadcaster Mediaset and infrastructure fund F2i successfully took over Italian masts group EI Towers as investors tendered shares equivalent to 97.45 percent of its capital, preliminary data published by the Milan bourse showed.

** Egypt has signed an agreement with three banks to manage the sale of a 24 percent stake in state oil company Engineering for Petroleum and Process Industries (ENPPI) on the Egyptian stock exchange, the petroleum ministry said.

** Hootsuite Inc, a Canadian company that describes itself as the world’s most widely used platform for managing social media, is exploring a sale that could value it at more than $750 million, people familiar with the matter said. (Compiled by John Benny and Soundarya J in Bengaluru)

M&A IN Pipeline 20181004


** Comcast said it had secured over 75 percent of Sky’s shares, bringing it closer to finalising the $40 billion takeover of the British pay TV group.

Blackstone

** Blackstone Group said it would acquire global life sciences investment firm Clarus for an undisclosed amount, as the investment manager pushes deeper into the healthcare sector.

** Honda Motor Co Ltd will invest $2.75 billion and take a 5.7 percent stake in General Motors Co’s Cruise self-driving vehicle unit, to jointly develop autonomous vehicles for deployment in ride services fleets around the world.

** Smiths Group said it would buy United Flexible Inc, a U.S.-based maker of parts for aircraft engines, from private equity firm Arlington Capital Partners for an enterprise value of $345 million.

** Barnes & Noble Inc said it would explore strategic options after several parties, including founder-chairman Leonard Riggio, showed interest in buying the bookseller.

** Saudi British Bank (SABB) and smaller rival Alawwal Bank are merging to create Saudi Arabia’s third-biggest lender with a market capitalization of about $17.2 billion.

** Italian state-owned bank Monte dei Paschi di Siena is close to selling its Belgian unit to private equity firm Warburg Pincus in a 50 million euro ($57 million) deal, a source familiar with the matter said.

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M&A IN Pipeline 20180927


Red Hook Capital access to a database on M&A deals for all industries and sizes.  Our senior executive advisors have done more than $70 billion deals ranging from small $5 million deals to advising on some largest deals in history.

Here are few deals of interest:

** Aboitiz Power Corp, one of the Philippines’ biggest electricity producers, has struck a deal to pay $579 million for a stake in Ayala Corp’s thermal energy platform, the two companies said.

** Malaysia’s Axiata Group Bhd, the biggest shareholder in M1 Ltd, is likely to reject an offer that valued the Singapore mobile operator at up to S$1.9 billion ($1.4 billion), a source with direct knowledge of the matter said.

** Zurich Insurance is acquiring an 80 percent stake in Indonesia’s Adira Insurance from PT Bank Danamon Indonesia and a minority investor for at least around $414 million, the Swiss group said.

** Ireland-based DCC Plc plans to buy Canada-based musical instruments distributor Jam Group for an enterprise value of $170 million, the company said, as it continues to diversify its business through acquisitions.

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