Hints and tips:
...The US government has codified its scepticism in revised “merger guidelines”....
...Bloomberg) Fund managers urge European regulators to mirror US move to T+1 (FT) Thomas Cook owner Fosun to sell brand to Poland’s eSky (SKY News) UK government vows to protect litigation funding that helped sub-postmasters...
...And in 2021, Restaurant Brands paid $1bn in cash for Firehouse Subs....
...One paper in this area caught my eye recently, “Standardizing and Unbundling the Sub Rosa DIP Loan”, co-authored by researchers Kenneth Ayotte and Alex Huang of UC Berkeley School of Law....
...He invited Oprah Winfrey to interview him and declared the merger to be “our rendezvous with destiny”....
...The TSE’s ambitions are not just meant for the worst-run Japanese companies, those with a sub-1 price/book ratio....
...France’s Carrefour exited from its operations in 2014 while Germany’s Metro is now considering the sale of its cash and carry business....
...The sub 20 per cent operating margin over the past year compares poorly with Activision’s 35 per cent. EA has not experienced the same stumbles as Activision....
...The chief executive of Citizens Financial, which recently bought HSBC’s US retail banking business, has predicted there will be more opportunities for mergers and acquisitions as smaller banks struggle to...
...Observers note that the judge in the case, Vice Chancellor Travis Laster, has a longstanding reputation for harsh rulings that have excoriated lawyers and bankers in such seminal cases as Rural-Metro, Del...
...Project Pink, the merger that brought together Telefonica’s O2 and Liberty Global’s Virgin Media, was completed using Webex, but much of the wooing was done in-person ahead of the lockdown....
Silicon Valley group looks to tap into huge mobile payments market with purchase of Lagos-based company
...New accounting standards in the US borne out of the financial crisis have left American banks’ pockets deeper than their European peers, but the threat of a second wave quashes any Yankee bravado....
...The employee has now stopped covering French supermarket group Casino and German wholesaler Metro as a result, according to emails seen by the FT....
...joint holding in Metro from 20.6 to 23.1 per cent....
...director calls for private markets to open up for retail investors (FT) Nvidia in talks to buy Arm from SoftBank for more than $32bn (FT) LSE considers selling Italian assets to secure Refinitiv deal (FT) Metro...
...Employees of InterArch Inc. Not a happy family business....
...Metro Bank also has an update out on Wednesday morning. Shopping centre landlord Hammerson has accepted its attempt to sell a portfolio of retail parks has failed after the buyer failed to pay up....
...Beisheim, which manages the estate of Metro’s late co-founder Otto Beisheim, and Meridian, which represents the Schmidt-Ruthenbeck family, lifted their joint holding in Metro from 20.6 to 23.1 per cent....
...“We are also very reluctant to sell sub-par businesses as long as we expect them to generate at least some cash and as long as we feel good about their managers and labour relations,” the manual said....
...(GQ) News round-up French insurer Covéa set to buy PartnerRe for $9bn (FT) Sysco Corp explores tie-up with Germany’s Metro (FT) Software company $1.4bn loan deal shelved on virus turmoil (FT) British...
...Lex recommends the FT’s Due Diligence newsletter, a curated briefing on the world of mergers and acquisitions. Click here to sign up...
...Between them, the five companies have spent $17bn on sub-$1bn deals in the past five years alone. It is fair to ask whether any involved quashing competition — although proving this will be difficult....
...Yankee Global Enterprises, Amazon and Sinclair said the three companies will “position [YES] strategically to continue its leadership in sports broadcasting across all forms of distribution”....
...But DD is yet to find an antitrust lawyer who has ever received a price-sensitive ruling on a massive merger in such a manner before....
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