London Stock Exchange-Deutsche Boerse merger under pressure from Germany, where politicians are worried about Brexit and company being based in UK April 11, 2016 The proposed merger of Deutsche Boerse and the London Stock Exchange is facing increasing political scrutiny – with German politicians now voicing their concerns. Members of the country's ruling Christian Democrats have questioned the wisdom and fairness of the merged organisation being based in the UK – especially if the nation votes for a so-called Brexit. [...]
Goldman Sachs sees M&A “room to run” in 2016, despite global activity dropping after record 2015 April 11, 2016 Goldman Sachs sees "room to run" in mergers and acquisitions (M&A) this year, despite global activity dropping 20 per cent so far in 2016. In a letter to shareholders, chief executive Lloyd Blankfein wrote that equity markets are showing signs of “sustained stabilisation”. And he said Goldman Sachs sees “consolidation opportunities" in industrials, energy, mining, food, media and [...]
The Daily Mail is considering a Yahoo bid – but what’s up for grabs? April 11, 2016 A surprise bidder has emerged in the race for Yahoo's web business. Joining the likes of US giants Google and Verizon and Time Inc, who have all reportedly put their hat in the ring, is the UK's very own Daily Mail. The newspaper's parent company Daily Mail and General Trust Group (DMGT) is in discussion [...]
M&A: Willis Towers Watson merger believed to be able to survive inversion rule changes unscathed April 10, 2016 The announced changes to the US inversion rules will not turn one of the insurance industry's most high-profile mergers on its head, the firm involved announced late last week. Willis Towers Watson, which was formed out of the successful merger of Towers Watson and Willis Group Holdings in January, issued a statement remarking that it did [...]
Marriott and Starwood share prices rise as shareholders approve $12.4bn takeover – bringing the creation of the world’s largest hotel chain one step closer April 8, 2016 Shareholders have approved the $12.4bn (£8.8bn) takeover of Starwood Hotels by Marriott International – meaning the creation of the world's largest hotel chain has just come a step closer. In joint statement today, the pair said shareholders of both companies had approved the merger – with 97 per cent of Marriott shareholders and 95 per [...]
Verizon Communications lines up bid for Yahoo’s web business, with Google and others also considering moves April 7, 2016 Verizon Communications is said to be interested in bidding for Yahoo's web business. The share price of Yahoo initially shot up when news of the potential bid emerged, before closing down 1.3 per cent at $36.17. Verizon's shares closed down nearly 2.8 per cent at $51.99. Read more: Yahoo-h dear. Web portal expects 15 per cent revenue [...]
Pfizer’s failed $160bn bid for Allergan is the largest withdrawn deal on record April 6, 2016 The giant pharma deal thwarted by new US tax inversion rules is the biggest transaction that has ever been withdrawn, according to financial software firm Dealogic. Viagra-maker Pfizer's $160bn (£113bn) takeover of Botox manufacturer Allergan was called off yesterday, following the introduction of new rules by the US Treasury. It was thought that US firm Pfizer [...]
Pfizer-Allergan merger collapse stokes fears M&A bonanza is coming to an end April 6, 2016 The biggest pharmaceuticals deal in history, a planned $160bn (£113bn) merger of US company Pfizer and Ireland’s Allergan, was abandoned today as a result of a US government crackdown on so-called tax inversions. The collapse of the blockbuster deal has stoked fears that last year’s M&A bonanza is coming to an end. Read more: More [...]
Pfizer confirms it has has scrapped its $160bn merger with Allergan – but UK pharma is dancing on its grave April 6, 2016 It looks like new tax inversion rules killed the M&A star, after Pfizer confirmed it has killed off its plans for a $160bn (£114bn) merger with Irish botox maker Allergan. In a statement today, the company said the decision had been driven by new US rules aimed at preventing so-called tax inversions, announced on Monday. “Pfizer approached this transaction [...]
London Stock Exchange chief executive Xavier Rolet: Brexit impact would be “substantial” – Thatcher’s Britain should lead, not leave, the European Union April 5, 2016 Xavier Rolet believes the impact of a Brexit on the City would be "substantial" and "almost immediate" following the referendum. Instead of exiting the European Union, the London Stock Exchange chief executive wants Britain to channel the spirit of Margaret Thatcher and lead the continent to a new era of strong economic growth. Rolet was speaking to City A.M. during [...]