Deutsche Boerse now “very confident” of winning shareholder approval for merger July 21, 2016 Deutsche Boerse has taken another step towards winning shareholder approval for its merger with the London Stock Exchange. The German exchange yesterday reported it had won 55.5 per cent approval for the deal. Last week, the company lowered the acceptance threshold from 75 per cent to 60 per cent. Read more: Deutsche Boerse lowers shareholder [...]
SoftBank and ChemChina drive Asia Pacific region to record M&A levels July 20, 2016 SoftBank’s £24.3bn offer for UK-based Arm has helped 2016 become a record year for outbound M&A activity from the Asia Pacific (APAC) region. Some $202.5bn worth of deals have been announced so far this year – already beating the whole figure for 2015, $187.1bn, which was a record year. Read more: Another boost for post-Brexit [...]
Smooth move: Unilever hopes to sharpen up its business with takeover of razor startup Dollar Shave Club July 20, 2016 Consumer goods giant Unilever has expanded its men's grooming offerings by snapping up the US-based razor startup Dollar Shave Club. The financial terms of the deal have not been disclosed, though sources told Fortune Unilever paid $1bn (£760m) for the razor subscription company. Unilever said in a statement Dollar Shave Club's chief executive Michael Dubin will [...]
How shareholders feel about Bayer’s “determined” pursuit of Monsanto July 20, 2016 The share price of German drugs and chemical giant Bayer has been virtually untouched after Monsanto rejected its improved takeover offer. And shareholders appear to have mixed views on the company’s pursuit of the US seeds company. Last week, Bayer improved its offer for Monsanto from $122 (£93) per share to $125, equalling around $64bn. [...]
Monsanto knocks back “financially inadequate” Bayer offer… again July 19, 2016 Monsanto has knocked back Bayer’s improved takeover offer, describing it as “financially inadequate and insufficient”. But the US seeds company said that it “remains open to continued and constructive conversations with Bayer and other parties”. Read more: We can't Bayer it: Henderson attacks German's Monsanto takeover pursuit The German company improved its offer from $122 [...]
This is at least the second coolest UK deal agreed since the Brexit vote July 19, 2016 Melrose’s $2.8bn deal for US air conditioning company Nortek is at risk of losing its status as the UK’s coolest post-Brexit vote deal. NFT Distribution, a UK chilled logistics business that delivers yoghurts and sandwiches to supermarkets, has announced the acquisition of another temperature-controlled logistics business, NR Evans. The deal values the business at more [...]
We can’t Bayer it: Henderson attacks German’s Monsanto takeover pursuit July 19, 2016 London-based fund management group Henderson Global Investors has attacked Bayer’s proposed takeover of US seeds company Monsanto. Asim Rahman, Henderson’s European equities fund manager, also demanded there be a shareholder vote on the deal, although it does not technically require investor approval. Henderson is understood to have reduced its stake in Bayer since news of the [...]
Another boost for post-Brexit UK M&A as US broker agrees takeover deal July 19, 2016 US interdealer broker BGC Partners today announced it has agreed to buy the UK’s Sunrise Brokers. Founded in 1991, the independent UK firm offers broking services across equity, credit, FX, hybrid and commodity derivative asset classes. Sunrise Brokers, which is being acquired for an undisclosed sum, has offices in London, New York and Hong Kong. Read [...]
The biggest acquisitions of British brands made by the Japanese July 18, 2016 Foreign firms have long been interested in breaking into the British market – and with sterling weak at the moment, the time is ripe for companies eager to make deals. With the confirmation of Japan’s SoftBank making a £24.3bn play for British tech firm Arm Holdings, we've decided to give you a brief breakdown of [...]
Arm founder bemoans “sad day” for British tech market as Japanese firm SoftBank makes play for chipmaker July 18, 2016 Arm Holdings founder Hermann Hauser has described the news that the chip manufacturer is likely to be sold to Japan's SoftBank as "very sad". SoftBank has made a £24.3bn bid for Arm, which was spun out of Hauser's Acorn Computers in 1990. Hauser now runs Amadeus Capital Partners, which he co-founded in 1997. "Arm is [...]