Oil services groups FMC Technologies and Technip to team up in $13bn deal May 19, 2016 France's Technip and US rival FMC Technologies said today they would merge to create an oil services company worth $13bn (£8.9bn). It comes as the industry has been enacting cost cuts to weather the oil price rout which has hit exploration and production. Technip and FMC expect the all-share deal to save at least $400m in annual costs by 2019. Read [...]
UK M&A is on “hiatus” but will recover whichever way EU vote goes, says private equity chief executive May 19, 2016 The chief executive of private equity company 3i has told how there is a “hiatus” in UK mergers and acquisitions (M&A) activity in the lead up to the EU referendum. But Simon Borrows told City A.M. activity will pick up after the summer no matter which way the vote goes. Shares in the buyout firm [...]
Shares in controversial seed giant Monsanto are growing after a German rival confirmed takeover interest May 19, 2016 Shares in US seed company Monsanto grew more than seven per cent in after-hours trading after German rival Bayer confirmed it is seeking to take over the firm. The share price of Bayer, meanwhile, fell 7.5 per cent to €89.15 after it confirmed its interest. Bayer, the German drugs and chemicals maker, said in a statement [...]
Qatar Airways ramps up stake in British Airways owner IAG May 18, 2016 Qatar Airways yesterday said it has increased its stake in British Airways owner International Consolidated Airlines Group (IAG), at a time when the Gulf state is overhauling its business strategy due to the challenging oil market. The Gulf airline, which is fully government owned, has raised its holding in the FTSE 100-quoted airline group to [...]
China’s Midea is gunning for German industrial robot maker Kuka with one of the largest ever unsolicited approaches of a foreign company by a Chinese buyer May 18, 2016 Chinese home-appliance maker Midea is plotting a takeover attempt of German industrial robot maker Kuka, in a deal that values the German company at $5bn (£3.4bn). If it goes ahead it would be one of the largest unsolicited approaches of a foreign company by a Chinese buyer. The deal is the latest in a round of recent tie-ups and investments in [...]
London Stock Exchange expects shareholder vote on Deutsche Boerse merger after the EU referendum May 18, 2016 The London Stock Exchange expects its shareholders to vote on the proposed merger with Deutsche Boerse after the EU referendum. The company said in a statement this morning that shareholder documents are expected to be published in June. And its shareholders are then expected to be asked to vote at a meeting in July. Read [...]
How M&A buyers are taking a “watch and wait” approach to UK acquisitions ahead of EU referendum May 17, 2016 Another day, another M&A report, another conclusion relating to the EU referendum. Buyers are taking a “watch and wait” approach to UK acquisitions before the EU referendum next month, according to Deloitte. Global M&A activity has slumped so far in 2016 following a record-breaking 2015, in which more than $5 trillion worth of deals were announced. [...]
Pfizer drowns Allergan merger collapse sorrows with new $5.2bn acquisition May 16, 2016 Shares in US pharma minnow Anacor shot up more than 50 per cent in pre-market trading in the US, after Pfizer unveiled plans to buy it for $5.2bn (£3.6bn). Under the merger agreement, Pfizer will acquire Anacor, which makes an antifungal treatment, for $99.25 per share in cash. Both companies’ boards have unanimously agreed the deal. Anacor’s share price soared [...]
Why M&A activity leaves companies vulnerable to cyber criminals May 12, 2016 Global merger and acquisitions (M&A) activity reached record-breaking deal values in 2015 at over $5 trillion. Whilst these vast sums excite shareholders, they also attract cyber criminals who sense an opportunity via inherent weaknesses in the M&A process. In much the same way that insider trading can (if undetected) yield huge returns for the perpetrator, cyber criminals [...]
Seed company’s shares grow after news of $43bn takeover interest May 12, 2016 Shares in US company Monsanto grew by more than eight per cent today after it was reported to be the subject of takeover interest from Germany. It is thought the deal would create the world’s largest seed and farm chemicals provider. Read more: Syngenta agrees to takeover by ChemChina worth over $43bn German company Bayer has [...]