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...By comparing the size of Apple’s buyback programme to its R&D spending, the DoJ is highlighting what it believes is Apple’s insulation from competition and lack of incentive to innovate — something it says...
...Many companies across multiple industries seek to become consolidators that create platforms to extract synergies, increasingly funded by private equity....
...It is projecting $235mn of “synergies” — mostly cost savings one would hope. Taxed and capitalised, these would be worth about $1.8bn, or more than three times the premium....
...HPE says the combination is worth $450mn of annual cost synergies, or nearly a tenth of Juniper’s revenue. The all-cash buyout is transformative for HPE, whose enterprise value is $30bn....
...They estimated that an all-stock combination of Warner and Paramount could yield at least $1bn of synergies....
...BofA’s Jadrosich pointed to risks such as a recent increase in the price of insulation from supplier Owens Corning, which cited strong demand....
...Glagola of TD Cowen said he viewed Endeavor as a “conglomerate”, which has hindered investors’ ability to recognise any synergies that exist between the different businesses....
...It counts makers of flooring, paint, insulation, roofing and modular homes among its subsidiaries....
...Deal “synergies” disappointed, sure. But there has been a bigger challenge....
...share, while also increasing the cash portion of the offer.Wyndham rejected both, although Choice claimed that its rival acknowledged the benefits of a combination that it believed would create annual synergies...
...Over time, Daunt said he can see synergies from bringing together the back-office functions such as IT across Waterstones and Barnes & Noble....
...From a business perspective, there also appears to be more synergy for Benefit One than a deal with M3....
...Even the $200mn of cost saving synergies being touted, taxed and capitalised, will not cover the premium it is paying....
...“We believe growth in the latter half of the decade via Dojo synergies justifies the valuation,” the team says: As Tesla begins to unlock Dojo synergies in the back half of the decade and beyond 2030, we...
...In 2019, the synergies would create many billions in value. In 2023, losing the synergies is “fairly manageable”. What is going on here? The synergies are not all that will be lost....
...It is also expected to deliver more than $200mn in “cost synergies within three years”, according to chief financial officer Scott Roe. The deal is expected to close in 2024....
...Lex is a little more sceptical of revenue synergies....
...She has no insulation. If something terrible happens, it's her. Which may be great....
...The present value of those synergies is in the neighbourhood of $10-$20bn, on plausible assumptions....
...Most importantly, she set about divesting Citi of much of its global consumer banking franchise, which had no synergies with its best businesses, which are transaction banking, credit cards, and fixed-income...
...Many investors questioned Sony’s original decision to take full control of its financial business in 2020, noting the lack of synergy with the group’s other businesses....
...Rathbones holds two US companies that should benefit from the rising demand for more sustainable buildings: Owens Corning, which provides building insulation; and Advanced Drainage Systems which is focused...
...“The synergy [of the deal] is the breadth and depth of the Activision portfolio. [Microsoft] won’t be looking to divest,” said Rietveld....
...As Uber’s success in the west demonstrates, there are synergies to be found in combining food delivery and ride-hailing through customer loyalty programmes....
...Endeavor and WWE said they expected to deliver cost synergies of $50mn-$100mn....
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