Tag: M&A

A new class representative: Kroton to acquire Somos for $1.8bn

Kroton Educacional SA (BOVESPA: KROT3) – market cap as of 04/05/2018: R$ 21.75bn Somos Educação SA (BOVESPA: SEDU3) – market cap as of 04/05/2018: R$ 5.70bn Exchange rate: 1 BRL (R$) = 0.285 USD ($) Introduction On April 23, 2018, Kroton Educacional, the largest for-profit education company in Brazil, proceeded to acquire Somos Educação, a […]

The Entertainment Earthquake: Evolve or Succumb

Walt Disney Co (NYSE:DIS) – market cap as of 27/04/18: $151.2bn Twenty-First Century Fox Inc (NASDAQ:FOXA) – market cap as of 27/04/18: $67.7bn AT&T Inc (NYSE:T) – market cap as of 27/04/18: $215.8bn Time Warner Inc (NYSE:TWX) – market cap as of 27/04/18: $75.8bn Introduction M&A activity is not a steady phenomenon. Rather, it tends […]

Time to enter the game: UK’s Playtech acquires Italy’s Snaitech

Playtech PLC (LSE:PTEC) – market cap as of 27/04/2018: £2.50bn Snaitech SpA (BIT:SNA) – market cap as of 27/04/2018: €409.8m Introduction On April 12, the world’s largest online gaming software supplier announced it had agreed to acquire a 70.6% stake in Snaitech, the Italian gaming and betting market leader. Subject to completion of this €846m […]

Electrification: Total S.A acquires Direct Energie

Total S.A. (EPA:FP) – market cap as of 27/04/2018: €138.0bn Direct Energie S.A. (EPA:DIREN) – market cap as of 27/04/2018: €1.90bn Introduction On April 18, 2018, French oil major Total S.A. announced the acquisition of 74.33% of Direct Energie’s share capital in a transaction valued at approximately €1.4bn. At a price of €42 per share, […]

Novartis-AveXis: an $8.7bn gene repair

Novartis AG (SIX: NOVN) – market cap as of 20/04/2018: CHF204.12bn AveXis Inc (NASDAQ: AVXS) – market cap as of 20/04/2018: $7.62bn Introduction On April 9, Novartis submitted an offer to acquire all the shares of the American gene therapy group AveXis. The Swiss drugmaker offered an 88% premium adding up to an $8.7bn deal. […]

When “subject to regulatory approval” means troubles: forms of government intervention in M&A transactions

Introduction A persistent financial crisis, the rising of regional tensions, the concerns of a trade war and many other facts have recently been catching up with the M&A-friendly international environment. Protectionism seems now to pervade the new world order. Rising economic nationalism is threatening to impact M&A activity across all over the world, as governments […]

Cigna Corporation and Express Scripts: a $67bn deal for their survival in the US healthcare industry

CIGNA Corporation (NYSE:CI) – market cap as of 09/03/2018: $42.7bn Express Scripts Holding Co (NASDAQ:ESRX) – market cap as of 09/03/2018: $45.7bn Introduction On March 8, 2018, Cigna Corporation announced the acquisition of Express Scripts Holding for a cash and stock consideration of $67bn. The combination of Cigna – a health insurance firm – and […]

How Fast is Fast Enough? Advent International to acquire tech components manufacturer Laird for £1.2bn.

Laird plc (LON: LRD) – market cap as of 09/03/18: £979.8 m Introduction On March 1, 2018, Advent International announced it will acquire the UK electronic components producer Laird plc for £1.2bn, or £2/share. The deal marks yet another conquest for private equity firms in search for viable targets to employ their record amounts of […]

When a sweet deal doesn’t sound sweet enough: Temenos to acquire Fidessa for £1.4bn in cash

Temenos Group (SWX:TEMN) – market cap as of 23/02/2018: CHF7.60bn Fidessa Group (LON:FDSA) – market cap as of 23/02/2018: GBP1.47bn Introduction On February 21st, 2018, the boards of both Temenos and Fidessa have reached an agreement for the takeover of the former over the latter for £1.4 billion. The two European companies operate in two […]

Thomson Reuters making the headlines as Blackstone acquires its Financial and Risk unit

The Blackstone Group L.P. (NYSE:BX) – market cap as of 23/02/2018: USD41.1bn Thomson Reuters Corporation (TSX:TRI) – market cap as of 23/02/2018: CAD35.8bn Introduction On January 30, 2018, Thomson Reuters announced the agreement to sell a 55% stake in its Financial and Risk unit to the US private equity firm Blackstone for more than $17bn. […]

2017 M&A Review and 2018 Breakthrough: the cases of the Pharma and TMT sectors

Introduction In January 2018, M&A activity surpassed investors’ expectations. According to a report by law firm Baker McKenzie, global mergers and acquisitions are expected to hit an 18-year record, reaching $3.2 trillion in 2018. To the same extent, cross-border M&A is expected to reach new time highs. In the December 2017, President Trump signed the […]

Coffee and Soda: Keurig to acquire Dr Pepper Snapple for $18.7bn in cash

Dr Pepper Snapple Group (NYSE:DPS) – market cap as of 17/02/2018: $28.78bn Introduction On January 29, 2018, Keurig Green Mountain, the coffee group owned by JAB Holding, announced the acquisition of soda maker Dr Pepper Snapple Group. Under the terms of the reverse takeover, Keurig will pay $103.75 per share in a special cash dividend […]

“The train to IPO is cancelled, we apologize for the inconvenience”: Infrastructure Fund GIP bids €1.98bn for Italian Railway Group Italo-NTV

Introduction On the 8th of February 2018, the shareholders of the Italian high-speed train operator Italo-NTV (Nuovo Trasporto Viaggiatori) (“The Company”) have accepted the offer of Global Infrastructure Partners (“GIP”) for the disposal of 100% of their stake, for an equity value of around €1.94bn. As a result, the plan to list 40% of the […]

Creating today’s Media Powerhouse: Meredith to buy U.S. publisher Time in Koch-backed Deal

  Meredith Corporation (NYSE:MDP) – market cap as of 02/12/2017: $2.96bn Time Inc. (NYSE:TIME.K) – market cap as of 02/12/2017: $1.85bn Introduction On the November 26, 2017, Meredith Corporation entered into a binding agreement to acquire Time Inc., Meredith’s former rival and one the biggest incumbents in the media sector, for a $2.8bn. The bidder […]

Online-to-Offline: Alibaba joins the trend with $2.88bn investment in Sun Art

Sun Art Retail Group Ltd (HKG: 6808) – Market Cap as of 02/12/17: $74.70bn Alibaba Group (NYSE: BABA) – Market Cap as of 02/12/17: $447.20bn Introduction On November 19, 2017, the Chinese online giant Alibaba acquired a 36.16% stake in Sun Art, an important player in the Chinese offline retail market. A unit of Alibaba […]

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