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Vodafone set to halt Greek unit merger
Vodafone is set to abandon attempts to merge its Greek business with rival Wind Hellas in the face of concerns among regulators about the precedent being set by allowing a duopoly in a European mobile market,
Glencore pays 8% premium for Xstrata shares
Glencore is set to pay a larger premium than expected to seal its long-coveted merger with Xstrata, the FT says, a move designed to defuse concerns among Xstrata investors about a cosy deal between the chief executives of the two companies.
Temisys … eventually
“Thank you for depositing a $3bn merger rumour. An RNS will be credited to our investors in 24 hours.”
As the FT wrote on Thursday morning …
Misys missed out, drifting lower by 0.6 per cent to 321¼p on concerns that takeover speculation could be misplaced.
Hutchison to buy Orange Austria for €1.3bn
Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa agreed to buy Orange Austria in a deal valued at €1.3bn ($1.7bn), adding to more than $31bn of investments in overseas mobile-phone operations,
Glencore and Xstrata close to $88bn deal
Glencore and Xstrata have launched merger talks to create a $88bn commodities trading and mining giant with the financial muscle to sweep up some of its biggest rivals, reports the FT. The all-share merger,
Glencore and Xstrata close to $80bn deal
Glencore and Xstrata are in advanced talks over a nearly $80bn merger that could reshape the mining industry, combining the world’s largest commodities trading house with one of the largest miners of thermal coal and copper,
The word from Zug – Xstrata confirms Glencore approach (Updated)
Xstrata statement:
Response to speculation
Zug, 2 February 2012
Xstrata plc (“Xstrata” or the “Company”) confirms that it has received an approach from and is in discussions with Glencore International plc (“Glencore”) regarding an all share merger of equals which may or may not lead to an offer being made by Glencore for Xstrata.
Glencore poised to reunite with Xstrata
Glencore is nearing an agreement to combine with Xstrata, Bloomberg reports, citing two people with knowledge of the plan. The two Switzerland-based companies may announce a deal as early as this week,
DB/NYSE officially dead
The European Commission has finally scuppered NYSE Euronext’s merger with Deutsche Boerse, according to the FT. European Union decisions to prohibit mergers, as the Commission has done with this deal, are relatively rare.
The Iron Lady
Meet Gina Rinehart.
She’s the richest person in Australia, and if the iron ore price holds, the daughter of Australian mining pioneer, Lang Hancock, could soon be the world’s richest woman — a position currently occupied by the Wal-Mart widow Christy Walton.
Macquarie considering Deutsche Bank asset management units
Macquarie Group, Australia’s biggest investment bank, is vying with at least three companies to buy asset-management divisions from Deutsche Bank, Bloomberg reports, citing two people with knowledge of the matter. The deadline for second-round offers is next week,
Tinker Bell plots Chime exit
Here’s one of those company statements that demands an instant translation. Guess it’s just ironic that it happens to concern the best-known PR man in Britain….
Chime announces that its chairman has asked the board if he can pursue the possibility of he,
Guest post: While Rome is burning
From Alberto Saravalle, managing partner at Bonelli Erede Pappalardo
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What happens to M&A while Rome is burning? In the past few months Italy has been in the midst of a political, economic and financial crisis.
ABB closes in on deal to buy Thomas & Betts
ABB, the Swiss electrical engineering group, is close to agreeing a deal to buy US-listed Thomas & Betts for about $4bn, the FT reports, citing people familiar with the situation. The move to acquire the US manufacturer of electrical,
NYSE chief sees little chance of Deutsche Börse deal
Duncan Niederauer, chief executive of NYSE Euronext, has admitted he “misjudged” European antitrust authorities’ approach to his exchange’s attempted tie-up with Deutsche Börse, saying there was only a “glimmer of hope” the deal would succeed.
Long battle ahead in Roche-Illumina bid
Roche’s $5.7bn takeover bid for Illumina is likely to take several quarters to complete, because of regulatory obstacles and possible shareholder resistance, says Reuters. The Swiss drug company is unlikely to face rival bidders,
AT&T firm’s lawyer tipped for top US antitrust spot
William Baer, whose legal firm worked on AT&T’s bid for T-Mobile USA, is the White House’s prime candidate to head the Justice Department’s antitrust division, Bloomberg reports. Baer’s colleagues at Arnold &
Roche in $5.7bn hostile bid for Illumina
Roche, the Swiss drugmaker, has made a $5.7bn hostile offer for Illumina, the US diagnostics company, as part of the pharmaceutical company’s efforts to develop its presence in genetics and gene sequencing,
HSBC wants to sell Japan retail unit
HSBC, Europe’s largest bank, is seeking buyers for its Japanese consumer banking unit four years after starting the business, says Bloomberg, citing three people familiar with the matter. HSBC may sell HSBC Premier,
Barnier provides hope for DB-NYSE
Deutsche Börse and NYSE Euronext have been given some hope of mustering support to save their merger after Europe’s leading financial regulator moved to reserve his right to oppose a recommendation to block the tie-up of the German and US exchange operators.
AMR hopefuls seek British Airways support
Some potential suitors for American Airlines are looking for support, or perhaps an investment, from British Airways, the WSJ says, citing people familiar with the matter. Private-equity firm TPG Capital,
Further reading
Elsewhere on Monday,
- Exclusive! VIP mind-casting at WEF… from our very own Davos Deville.
- Why America is back on top. Really.
- But why the supply chains all moved to China…
- Shots in the Romney private equity wars,
Larger Asian companies eye European acquisitions
Nearly half of Asia’s larger companies are planning to make a significant acquisition in Europe over the next year, drawn by the availability of cheap assets amid the eurozone crisis, according to a survey by FTI Consulting,
China investors set their sights on Hollywood
A consortium led by Chinese media entrepreneur Bruno Wu is scouring Hollywood for film companies to acquire, the FT reports, citing people familiar with the situation. Mr Wu, Harvest Global Investment,
China SWF set to buy stake in Thames Water
China Investment Corporation, the country’s $410bn sovereign wealth fund, is poised to buy a stake in the water network that serves London, the FT says, citing a person familiar with the situation and a senior government official.
Snap news
Breaking pre-market news on Thursday,
- Carrefour, Europe’s No 1 retailer, warns on 2011 profit — statement.
- Big sales miss at Sony Ericsson — statement.
- Pearson expects adjusted EPS growth of 10 per cent in 2011 — statement.
Spain pushes for domestic Bankia merger
Spain’s new government is pressing for Bankia, a group of savings banks listed last year, to seek a merger with another Spanish bank in a deal that would create the country’s largest domestic lender by assets if it materialised,
Cinven to buy CPA Global for £950m
UK buy-out group Cinven has agreed to purchase CPA Global, one of the world’s largest patent management groups for £950m, the FT reports, citing people close to the deal. ICG, which provides companies with debt and equity funding, asked advisers HSBC and DC Advisory Partners to start the sales process for CPA Global in December,
DS Smith buys Swedish rival for €1.6bn
DS Smith, the UK-based maker of recycled packaging, is to buy Swedish rival SCA Packaging in a €1.6bn deal that some bankers hope will boost confidence in mergers and acquisitions in Europe, says the FT.