Category: M&A

INbyJD 20181116

#pickbyjd >> Blackberry pushes into cybersecurity with $1.4bn takeover of Cylance

Plus other M&A news below, but let us start with a quote of the day!

** Siemens and Alstom said they will not seek a hearing in front of European Union regulators to address antitrust concerns about their planned rail merger.

** Indian conglomerate Tata Sons Ltd said it is in preliminary talks with struggling Jet Airways Ltd but has not made a proposal to acquire a stake, cooling speculation that a deal was imminent.

** Japan’s Mitsubishi UFJ Financial Group is the leading bidder for the aviation financing business of Germany’s No.2 lender DZ Bank, people close to the matter said.

** Union Bank, Albania’s eighth biggest bank, has bought the smaller Malaysian-owned International Commercial Bank (ICBank), the Albanian central bank told Reuters.

** ABB is in talks with Hitachi Ltd and Mitsubishi Electric Corp to sell all or part of the Swiss engineering group’s embattled power grids business, sources familiar with the issue told Reuters.

** Lufthansa is considering divesting its catering business LSG Sky Chefs, Chief Executive Carsten Spohr told business daily Boersen-Zeitung.

** JO Hambro, a top-5 shareholder in Restaurant Group , said it backed a proposed 357 million pounds ($456.39 million) deal to buy noodle chain Wagamama.

** Germany’s SAP still expects its margins to expand after its $8 billion takeover of Qualtrics, a U.S. company that specializes in tracking the sentiment of consumers online, Chief Financial Officer Luka Mucic said.

** T-Mobile US Inc’s Chief Financial Officer said there is a possibility that its $26 billion acquisition deal of Sprint Corp will close as early as the first quarter of 2019.

INbyJD 20181115

L3 Harris

ASK JD ABOUT THIS DEAL:  The U.S. government is still reviewing a merger of Hais Corp and L3 Technologies, a top Pentagon official said, adding that she had no fundamental concerns about further consolidation in the U.S. defense sector.

QUOTE BY JD:  Keep moving your goals and objectives forward as there is only one final ending!  Being a bulldozer is often needed – JD Morris  11-15-2018  inspired by Peter Drucker quote: Objectives are not fate; they are a direction.

ACTION: Today pick one area to be a bulldozer as you move in the right direction.  JD’s action today is pushing for private equity firms to back his teams vs. providing referrals.

OTHER DEALS TO ASK JD AND HIS SENIOR EXECUTIVE ADVISORS

** Two sugar mills in Brazil owned by India’s Shree Renuka Sugars Ltd, which filed for bankruptcy protection three years ago, will be put up for sale in a judicial auction on Dec. 18, according to court documents seen by Reuters.

** Saudi Arabia’s sovereign wealth fund PIF is exploring the acquisition of up to a $700 million stake in Legendary Entertainment, the U.S. movie studio behind films such as “Jurassic World” and “Interstellar”, according to people familiar with the matter.

** Shareholders in Vodacom Tanzania approved the sale of a 26 percent stake owned by Mirambo Holdings Ltd to South Africa’s Vodacom Group.

** Food group Barilla said it had presented an offer to buy the second-largest pasta plant in Italy from domestic rival Pasta Zara to boost its production capacity.

** French drugmaker Ipsen plans to bring in multiple new medicines through a series of transactions and sees the recent price drop of biotech stocks as increasing deal opportunities, its chief executive said.

** Bulgaria’s central bank has given Hungary’s OTP Bank the green light to buy Societe Generale’s Bulgarian businesses, the central bank said in a statement.

** British packaging group DS Smith gained EU antitrust approval for its 1.9-billion-euro ($2.2 billion) purchase of Spanish rival Europac after agreeing to sell production plants in Portugal and France.

** Dutch-Belgian supermarket group Ahold Delhaize, the owner of the Stop & Shop and Giant Food stores, is looking for acquisitions in the United States, its chief executive said in a Dutch newspaper report.

** National carrier Garuda Indonesia said it will take over operational control of rival Sriwijaya Group, giving the airlines a majority share of the fast-growing domestic aviation market.

** Two shareholders of Restaurant Group Plc called on the owner of Frankie & Benny’s to cancel its proposed 357-million-pound ($463 million) deal to buy the Wagamama noodle chain.

** Italy’s Treasury is mulling the idea of selling a stake of around 3.3 percent in oil major Eni and 53.3 percent in air traffic controller ENAV to state lender CDP, two sources said.

** Buyout group Cerberus is in exclusive talks with NordLB to take on 2.5 billion euros ($2.8 billion) of non-performing shipping loans that the German public sector lender wants to shed ahead of a planned stake sale, sources close to the matter said.

** An Indian tribunal has ruled that UltraTech Cement Ltd’s more than $1 billion bid for the cement unit of Binani Industries Ltd was valid, UltraTech said.

** Korean petroleum products maker SK Innovation and several buyout groups have been short-listed in an auction for Evonik’s methacrylates plastics unit, which makes clear acrylic sheets, people close to the matter said.

** German fintech company Wirecard hiked its profit target after reporting a jump in third-quarter net earnings by 51 percent to 97 million euros ($110 million) thanks to a boom in e-commerce and digital payments.

 

** British regional airline Flybe Group Plc said it was in talks with potential buyers, as it grapples with higher fuel costs, lower demand and a weak British pound, sending its shares up as much as 44 percent in early trading.

** British shopping center owner Intu Properties said it had given a consortium considering a takeover more time to make an offer for the company.

** Indorama Ventures Public Company (IVL), a Thai petrochemicals producer, has acquired 74 percent of Egypt’s packing and packaging Medco Plast for 843 million Egyptian pounds ($47.15 million), Egypt’s HC Securities said in a statement.

** UK’s Grainger Plc said it would acquire Grip REIT plc for 396 million pounds ($514.6 million) to expand in the private-rented sector.

** Pan American Silver Corp said it has agreed to buy Tahoe Resources Inc in a $1.07 billion cash and stock deal that would create a top global silver miner but also include some troublesome assets.

** British engineer Smiths Group plans to spin off its healthcare business to focus on industrial technology, two months after a 7 billion pound ($9.1 billion) deal to merge it with U.S.-based ICU Medical collapsed.

** France’s Alstom voiced confidence it would finalize a merger with Siemens’ railway business by the middle of next year despite an investigation by European authorities as it reported a big rise in first half profit.

** Barclays has been appointed by Abu Dhabi Commercial Bank (ADCB) to advise on a potential merger plan involving Union National Bank (UNB) and Al Hilal Bank, banking sources told Reuters.

** Dexia Israel Bank said it has accepted an offer to be acquired by Israel Discount Bank for 670 million shekels ($181 million) in cash.

** The U.S. government is still reviewing a merger of Harris Corp and L3 Technologies, a top Pentagon official said, adding that she had no fundamental concerns about further consolidation in the U.S. defense sector.

DISCLAIMER: This is a beta blog.  The information is provided by AP, Bloomberg, Forbes, Fortune, preqin, Reuters, TechCrunch, VentureBeat, Wall Street Journal (WSJ), and other 3rd party sources. Please check with the company website or venture capital firm for a press release as this is a beta blog that does not update information.  Our goal is networking for results and provide information on deals.  Our motto is “Say Provocative statements that intelligent people argue about fast without dotting your I’s and crossing your T’s. As life is all about fun and results!” – JD Morris

IN Pipeline 20181110 M&A focus

Meet JD Here at Opal Group’s CLO Summit.

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#pickbyjd French aerospace and defence company Thales is on track to secure conditional EU antitrust approval for its 4.8-billion-euro ($5.4 billion) bid for chipmaker Gemalto , a person familiar with the matter said, a move set to make it a leading player in digital security services.

** Austrian oil and gas group OMV has agreed on a joint venture with Malaysia’s Sapura Energy, paying $540 million for a 50 percent stake in its exploration assets, aiming to use it as a springboard for further expansion in Asia.

** Japanese drugmaker Takeda Pharmaceutical is set to win conditional EU antitrust approval for its $62-billion bid for London’s Shire, the biggest ever overseas acquisition by a Japanese company, two people familiar with the matter said.

** Industralist Sanjeev Gupta’s Liberty steel company has secured the financing for its acquisition of a Dunkirk aluminum smelter from Rio Tinto.

** A deal to create the UK’s second-biggest retail power provider has been delayed to beyond the first quarter of next year, with SSE and Innogy renegotiating merger terms after Britain’s regulator proposed a cap on energy bills.

** Laser and optical parts maker II-VI Inc said it would buy Apple Inc supplier Finisar Corp for about $3.2 billion, to grab a bigger slice of 5G investments and sell more sensors for iPhones and driverless cars.

** South Africa’s Discovery Ltd said it will issue 11.4 million shares to fund the acquisition of FirstRand’s stake in their credit card joint venture, a condition for the launch of its planned Discovery Bank.

** The chief executive of state-owned oil producer Saudi Aramco said he planned to discuss the purchase of a stake in Novatek’s Arctic LNG-2 project with Novatek’s boss in Moscow, the RIA news agency reported.

** Steelmaker SSAB’s subsidiary Tibnor has agreed to buy the steel distribution business of Denmark’s Sanistal in a 630 million Swedish crown ($69.65 million) deal, SSAB said in a statement.

** French bank Societe Generale has sold a 2.05 percent stake in clearing house Euroclear to Belgian state-owned financial firm SFPI, SocGen said.

** Germany’s antitrust regulator approved the planned merger of department store chains Kaufhof and Karstadt, owned by Canada’s Hudson’s Bay Co (HBC) and Austria’s Signa Holding.

** British online electricals retailer AO World has agreed to buy Mobile Phones Direct (MPD) for an enterprise value of 32.5 million pounds ($42.3 million), it said.

** Top U.S. grain merchant Archer Daniels Midland Co has approached Argentine soy crusher Molinos Agro about buying the company’s livestock feed and soyoil manufacturing plant, and talks may continue, three sources said.

** Australia’s Woolworths Group Ltd said it will sell its petrol business to British petrol retailer EG Group for A$1.73 billion ($1.25 billion). (Compiled by Mary Ann Alapatt in Bengaluru)

IN Pipeline 20181103

 

KKR

** Gene sequencing company Illumina Inc said on Thursday it plans to buy smaller rival Pacific Biosciences of California Inc in an all-cash deal valued at $1.2 billion, expanding its capabilities as the market grows.

** Australia’s MYOB Group said it will grant due diligence to KKR & Co after the U.S. buyout giant sweetened its offer to take full control of the accounting software provider firm to A$1.8 billion ($1.3 billion).

** Canada’s Encana Corp will buy Newfield Exploration Co for $5.5 billion, giving the natural gas producer greater access to North America’s biggest oilfields, and potentially spurring further deals.

** U.S. drugmaker Pfizer Inc is considering options, including a sale of its women’s health portfolio, Bloomberg reported, citing sources familiar with the matter.

** Canadian pipeline operator TransCanada Corp said it is eyeing joint ventures and asset sales, among other options, to finance the construction of its $8 billion Keystone XL crude oil pipeline.

DISCLAIMER: This is a beta blog.  The information is provided by AP, Bloomberg, Forbes, Fortune, preqin, Reuters, TechCrunch, VentureBeat, Wall Street Journal (WSJ), and other 3rd party sources. Please check with the company website or venture capital firm for a press release as this is a beta blog that does not update information.

mergers

 

IN by JD 20181030

#pickbyjd #dealoftheday  The NuCom Group (NCG) and PARSHIP ELITE Group (PEG) are taking over 100% of the US online matchmaking pioneer eharmony. (see press release below)

(PRNewsfoto/eharmony)

OTHER DEALS OF NOTE

** Japan’s Shinwa Bank and Eighteenth Bank Ltd have decided to postpone their planned merger by six months, saying they wanted to bring the dates of their merger and systems integration closer together to avoid complications for customers.

** Britain’s Restaurant Group Plc said it had acquired the Wagamama noodle chain for 357 million pounds ($457.03 million) in cash, expanding its chain of pubs and airport and shopping mall eateries.

** AstraZeneca said it would sell the European rights to acid-reflux medicine Nexium to Grunenthal for an upfront $700 million and future sales-related payments of up to $90 million as it is not in the company’s targeted therapy areas.

Continue reading “IN by JD 20181030”

IN Pipeline 20181029 M&A

Our senior executives can fast track most deals.  Even mega deals.

#pickbyjd (& everyone pick):  IBM Corp’s $34 billion deal to buy Red Hat Inc RHT.N drove shares in the small but fast-growing software maker 50 percent higher on Monday, reflecting the huge premium IBM is paying to ward off any potential challenger bids.

Mega Deal

OTHER NEWS OF NOTE:

** Australian adult education provider Navitas Ltd rebuffed a A$1.97 billion ($1.4 billion) approach from its founder and a private equity firm, leaving some investors concerned the tactic may not generate a better deal.

** Takeda Pharmaceutical Co Ltd has proposed to European regulators it could sell a Shire treatment in development due to concerns of overlap in inflammatory bowel disease treatments and its own drug Entyvio as it seeks clearance for the two companies’ merger.

** Private equity firm EQT made a recommended 5.97 billion Swedish crown ($654 million) cash bid to buy Swedish specialty pharma group Karo Pharma.

** Hitachi has wrapped up a bitter feud with U.S. activist investor Elliott over Ansaldo STS, agreeing to buy the fund’s stake in the Italian rail signalling group as part of a move to take full control.

** Italian regional lender BPER is one of the possible partners for a tie-up with Unipol Banca, the CEO of Unipol group Carlo Cimbri told daily la Repubblica on Monday.

** Italian infrastructure group Atlantia and Spanish builder ACS have completed the joint acquisition of Spain’s Abertis in a 16.5-billion-euro ($19 billion) deal that creates the world’s biggest toll-road group.

** Germany’s ProSiebenSat.1 Media said it had bought U.S. online dating site eharmony, in the first significant deal since it carved out a new e-commerce joint venture with General Atlantic.

** A joint venture signed between defence company Leonardo and shipbuilder Fincantieri will favour Italy’s talks with France over a military shipbuilding deal, Leonardo CEO told Corriere della Sera.

** Greece’s privatisation agency said on Monday it signed a deal to sell railway maintenance company ROSCO (EESSTY) to TrainOSE, a subsidiary of Italian railway operator Ferrovie Dello Stato Italiane, for 22 million euros ($25.05 million).

** Cia Energética de Minas Gerais SA, Brazil’s No. 3 power utility, has received a “tentative offer” for its stake in the Santo Antônio hydropower dam, the company said in a securities filing, but no deal has been agreed on yet.

** Qatar’s Doha Bank has cut its exposure to the United Arab Emirates though an asset swap with UAE banks amid strained relations between the two countries, four sources said.

** The Italian railways is set to hold a board meeting on Monday afternoon to discuss an offer for the whole of flagship carrier Alitalia, a source close to the matter.

DISCLAIMER: This is a beta blog.  The information is provided by AP, Bloomberg, Forbes, Fortune, preqin, Reuters, TechCrunch, VentureBeat, Wall Street Journal (WSJ), and other 3rd party sources. Please check with the company website or venture capital firm for a press release as this is a beta blog that does not update information.

IN Pipeline 20181026

Meet JD Morris at CLO Summit

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#DEALOFTHEDAY >> U.S. telecommunications equipment maker CommScope Holding Co Inc is in talks to acquire set-top box maker Arris International PLC in a bid to expand its offerings, people familiar with the matter said.

** The European Commission said that it had approved Sony Corp’s plan to take full control of EMI Music Publishing, saying the deal would not raise competition concerns.

** Brazil will leave a decision on whether to approve the sale of a controlling stake in planemaker Embraer SA’s commercial jet business to Boeing Co to the next government, Defense Minister Joaquim Silva e Luna told Reuters.

** Delta Air Lines Inc Chief Executive Edward Bastian declined to comment on reports that the No. 2 U.S. carrier is interested in acquiring a stake in Italy’s Alitalia, which was put under special administration last year.

** Thailand’s Minor International has won acceptances for 47.76 percent of NH Hotels Group, Spain’s regulator said, bringing its total stake to 94.14 percent.

** Budget airline Norwegian Air is in advanced talks for a potential joint venture ownership of aircraft in its fleet that would free up cash for the rapidly growing company, it said.

** Finnish elevator maker Kone is interested in consolidation, especially in the service industry, its chief executive said.

** Halfords has dropped its plans to buy Evans Cycles, making way for investors like billionaire Mike Ashley’s Sports Direct to buy the chain, Sky News reported citing sources.

 

** Activist investor William Ackman’s Pershing Square Capital Management has acquired a 3.7 percent stake in hotel operator Hilton Worldwide Holdings, the fund said.

 

** French car parts maker Faurecia SA is set to buy a majority stake in Japanese car navigation system maker Clarion Co from Hitachi Ltd for around 80 billion yen ($710 million), the Nikkei reported.

** China’s Wingtech Technology Co Ltd, the world’s largest smartphone contract manufacturer, is acquiring Dutch semiconductor firm Nexperia Holding by buying a majority stake from its Chinese owners for 25.2 billion yuan ($3.63 billion).

** Australia’s largest wealth manager AMP Ltd said it would sell its life insurance arm at a discount and revealed its funds were haemorrhaging cash as clients pulled out their money in response to revelations of systemic wrongdoing.

** Felix Energy LLC, a closely held Denver-based oil producer with operations in the largest U.S. shale field, is exploring a sale that could value the company at more than $3.5 billion, two people familiar with the matter said.

HAPPY NETWORKING AND INVESTING

JD Morris

JD Morris