Hints and tips:
...Private credit co-heads James Reynolds and Kevin Sterling have also been named global head of direct lending and global head of investment-grade private credit and asset finance, respectively....
...Pfizer agreed to acquire oncology-focused biotech Seagen for $43bn, the largest pharma transaction since AbbVie agreed to buy Allergan in 2019....
...The ‘Trojan horse’ debate captivating Wall Street The high-finance version of “never get into a land war in Asia” might be “do not start a proxy fight in Orange County”, a top investment banker recently...
...Canada’s finance minister Chrystia Freeland delivered the Liberal government’s first budget since 2019, vowing to “punch our way out of the Covid recession” with C$101bn (US$81bn) in spending over three...
...The acquisition is the biggest transaction in pharmaceuticals since 2019, when AbbVie acquired Allergan for $63bn, and the largest deal to target a US company in any sector this year....
...The US pharmaceuticals group AbbVie sealed one of the largest US corporate bond deals on record on Tuesday to finance its $83bn takeover of rival Allergan....
...Morgan Stanley and its Japanese partner MUFG have committed $38bn to finance the transaction, in one of the biggest bridge loans on record....
...The foundation behind the Facebook-created digital currency Libra has named HSBC legal chief and former George W Bush-era terrorism finance tsar Stuart Levey as its first chief executive....
...CVC Credit Partners has hired Andrew Tully, the former head of structured finance and origination at Santander, as a managing director in direct lending....
...(FT, Bellingcat) Pharma deal cleared The Federal Trade Commission has given the go-ahead for US drugmaker AbbVie’s $63bn takeover of Botox-maker Allergan, which will see some of the latter’s assets sold...
...Investors will seek updates on Pfizer’s deal with Mylan on Thursday, while AbbVie’s acquisition of Allergan, which is nearing completion, will be in focus on Friday....
...AbbVie, the pharma company, issued $30bn of new debt on November 12 to fund its takeover of Allergan....
...Plus, the FT’s corporate finance and deals editor, Arash Massoudi, explains what led to AbbVie’s $63bn acquisition of Botox-maker Allergan....
...(New York Times) News round-up 3G Capital enters bidding for Thyssenkrupp lifts unit (FT) Deutsche Bank/Paul Achleitner: harping on (FT Lex) AbbVie readies $30bn bond sale to finance Allergan takeover...
...So far this year, more than $700bn worth of transactions have been agreed in the pharmaceutical and healthcare sector, according to Refinitiv, including AbbVie’s decision to buy the maker of Botox, Allergan...
...But several said that there was still considerable room for expansion given low interest rates and the easy availability of cash on the market to finance transactions....
...The Minnesota-based company will finance the transaction with a combination of available cash and proceeds from the issuance of new debt....
...There was the $63bn tie-up between AbbVie and Allergan and Danaher’s purchase of General Electric’s life sciences unit for $21bn....
...He departs for a “senior finance role in an international organisation outside the financial services sector” amid tension between the Irish government and the country’s banks over stringent pay caps and...
...(FT) JPMorgan poised to receive record fee JPMorgan Chase is poised to collect $123m for advising Botox-maker Allergan on a planned $63bn sale to AbbVie, the largest individual bank fee for a company sale...
...The law firm Allen & Overy has hired Jin Hee Kim as a partner in its leveraged finance department in New York....
...The suit also names as defendants Janssen Pharmaceuticals, a division of Johnson & Johnson, the parent company itself, Mallinckrodt, Endo Health Solutions and Allergan Finance....
...(WSJ) News round-up Japan warms to shareholder activism (FT View) TDR Capital agrees to buy car auctioneer BCA in £2bn deal (FT) Elliott Management advocated for an Allergan split prior to sale (BBG)...
...per cent since it revealed its interest in Shire in March as investors worried over the increasing level of its interest-bearing debt — totalling over $10bn — and the risk of a dilutive share issuance to finance...
...November 2015-April 2016: Scrapped plans for $160bn all-stock merger with Irish-domiciled Allergan The most audacious move of Read’s tenure....
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