General Electric to buy Lufkin for $3.3bn

General Electric Market Cap(as of 19/04/13)  : $253.73bn Lufkin Industries Market Cap(as of 19/04/13): $2.97bn Deal size: $3.3bn, all cash General Electric Oil and Gas, a division of General Electric Corp., agreed to acquire Lufkin Industries, a manufacture of specialist pumps based in Texas, taking a further step to grow and consolidate its business through […]

Rosneft-TNK BP: The biggest takeover in the history of the oil industry is finally completed

TNK-BP Energy Group Inc. Enterprise Value: $55.7 bn Rosneft Market Cap (as of 22/03/13) : $81.60bn British Petroleum  Market Cap (as of 22/03/13) : $133.37bn Deal type: Acquisition increase from 50% to 100% all-cash Rosneft, the Russian state oil giant completed on the 21st of March the acquisition of the remaining 50 percent stake in […]

Update on Dell’s proposed LBO

We are writing a short follow up on Dell’s LBO, which we covered on February the 16th. Following his opposition to the offer of Michael Dell and Silver Lake to take Dell private, Carl Icahn, the former corporate raider turned activist investor (who is also involved in the Herbalife situation we analysed last week), started […]

KKR signs agreement to acquire Gardner Denver

Kohlberg, Kravis and Roberts & Co LP market cap (as of 15/03/2013): $13.27 bn Gardner Denver Inc. market cap (as of 15/03/2013): $ 3.69 bn Deal Type: LBO 100% On the 8th of March it has been reported that Gardner Denver and KKR have signed a definitive agreement in which the private equity fund will […]

Herbalife: Hedge Fund Titans fight or does it really matter?

Herbalife LTD. is a small cap company, by every measure. It sells weight management, nutritional supplement, energy, sports & fitness products and personal care products. It was founded in 1980 by Mark Hughes, who is still the president. It has a market capitalization of $4.27bn and some growing net sales. These were $3.5bn at the […]

HSBC continues its refocusing effort

HSBC Holdings, Plc Market Cap (as of 8/03/13):  $203.55bn Newcastle Investment Corporation Market Cap (as of 8/03/13): $2.83bn On March the 5th HSBC Finance Corporation, a wholly owned subsidiary of HSBC Holdings Plc, agreed to sell a portfolio of unsecured and homeowner loans to Newcastle Investment Corporation and SpringLeaf Finance, Inc. in a move to […]

London Stansted purchased by Manchester Airports Group

Manchester Airport Group PLC – Market Cap: N/A (private company) Heathrow Airport Holdings LTD – Market Cap: N/A (private company) Deal type: 100% Acquisition Size: £1.5 bn Heathrow Airport Holdings LTD announced on 28th February that it has completed the sale of its 100% interest in Stansted Airport LTD to Manchester Airports Group (MAG) for […]

Trade idea: bullish setup has formed on Facebook

Technical analysis: Facebook has been out of favour for a while, following a disappointing IPO that pushed into negative territory the P&L of the new shareholders. However, during the downturn a bullish pattern has formed. The stock trajectory has created a cup-and-handle that historically predicts a surge in price. The main reason behind the pattern […]

“Energetic” Consolidation

Linn Energy, LLC Market Cap (as of 28/02/13): $8.94bn Linn Co, LLC Market Cap (as of 28/02/13): $1.36bn Berry Petroleum Market Cap (as of 28/02/13): $2.5bn Repsol SA Market Cap (as of 01/03/2013): $27.36bn Royal Dutch Shell Market Cap (as of 01/03/2013): $212.76bn The energy sector has been experiencing a consolidating trend with companies trying […]

US Airways agrees to acquire AMR and create world’s biggest carrier

AMR Corporation – Market Cap (as of 01/03/13): $ 0.84 bn; US Airways Group Inc. – Market Cap (as of 01/03/13): $2.19 bn Deal type: 100% Acquisition Size: $6.12bn On February 14, AMR Corporation, the parent company of American Airlines, and US Airways Group Inc., announced that the boards of directors of both companies have […]

Elan – from buyer to target?

Elan Corporation PLC – Market Cap (as of 01/03/13) : $6.7bn Royalty Management, LLC On Monday, 25 February 2013, Royalty Pharma, the American private equity firm investing in acquiring drug royalties, made an indicative offer to acquire all the outstanding shares of Elan Corporation, the Irish biotech company listed in New York. Some of you […]

A quite expensive ketchup

Berkshire Hathaway Inc. Market Cap (as of 21/02/2013): $249.04bn 3G Capital Market Cap: N/A, participation of $4bn equity H. J. Heinz Company Market Cap (as of 21/02/2013): $23.15bn The Oracle of Omaha has finally decided to put to use some its spare cash and joined forces with 3G Capital in the biggest buyout ever in […]

Comcast to acquire remaining stake in NBCUniversal Media

Comcast market cap (as of 22/02/13) : $105.3bn NBCUniversal Media market cap (as of 22/02/13) : N/A On the 12th of February Comcast Corporation announced the acquisition of General Electric’s remaining 49% common equity stake in NBCUniversal for a valuation of approximately $16.7bn. Comcast, a global media and technology company, operates in two primary businesses: […]

Focus on Monte dei Paschi di Siena

In this continuation from the previous newsletter we enter more in depth into the merits of the Monti Bonds as well as explaining the infamous three derivatives contract recently called into question (Alexandria, Santorini and Nota Italia).   Monti Bonds Although it could be erroneously believed that Monti Bonds have been invented in December 2012 […]

Monte Paschi’s €3.9bn bailout – In depth

BMPS mkt cap (as of 15/02/13): €2.8bn Banca Monte dei Paschi di Siena, the world’s oldest bank (founded in 1472) and Italy’s third biggest lender with €224bn assets, has been at the centre of attention in recent weeks following disclosure that the bank suffered a €730 million loss related to three loss-making derivative transactions (namely […]

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