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October 22, 2021

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Western Digital talks to merge with Kioxia stall – sources

Reuters
A Western Digital office building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake/File Photo Oct 21 (Reuters) – Western Digital Corp’s (WDC.O) talks to merge with Japanese chipmaker and partner Kioxia Holdings Corp have stalled over the last few weeks, two people familiar with the matter told......

Zoom, Five9 to terminate nearly $15 bln all-stock deal after shareholder vote

Reuters
Small toy figures are seen in front of the Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Sept 30 (Reuters) – Five9 Inc (FIVN.O) shareholders voted down the call center software firm’s $14.7 billion sale to Zoom Video Communications Inc (ZM.O)on Thursday, a major blow......

Merck to buy Acceleron for about $11.5 bln in rare disease drug push

Reuters
Sept 30 (Reuters) – Merck & Co (MRK.N) is buying Acceleron Pharma Inc (XLRN.O) for about $11.5 billion, broadening its portfolio beyond aging cancer drug Keytruda with potential treatments that could bring in fresh revenue. The deal gives Merck access to Acceleron’s rare disease drug candidate, sotatercept, which the company......

Pandemic recovery fuels deal craze as third-quarter M&A breaks all records

Reuters
Global M&A hits all-time peak of $1.52 trillion in Q3 Cheap financing drives desire for transformative deals Volumes double in Europe driven by private-equity buyouts U.S. activity up 32% to $581 billion, Asia Pacific up 21% Frantic dealmaking surpasses all full-year records LONDON, Sept 30 (Reuters) – Global mergers and......

Evergrande set to miss second offshore bond coupon payment this month, sources say

Reuters
Some Evergrande bondholders had not received coupon on Wednesday Evergrande was facing Wednesday deadline for $47.5 mln payment Company sold $1.5 billion stake in Shengjing Bank Shares in Evergrande rise as much as 17% HONG KONG, Sept 29 (Reuters) – At least some of China Evergrande’s offshore bondholders had not......

China Evergrande to sell $1.5 bln stake in Shengjing Bank to state firm

Reuters
Shengjing demands repayment of debts due to it Evergrande says sale will help stabilise Shengjing Evergrande faces bond interest payment deadline HONG KONG, Sept 29 (Reuters) – Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group (3333.HK) said on Wednesday it plans to sell a 9.99 billion yuan......

Amplitude valued at $5 bln after shares jump in Nasdaq debut

Reuters
Sept 28 (Reuters) – Shares of Amplitude Inc (AMPL.O) opened nearly 43% above their reference price in their Nasdaq debut on Tuesday, notching up a valuation of about $5 billion for the Benchmark-backed analytics company. San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at......

China asking state-backed firms to pick up Evergrande assets – sources

Reuters
An aerial view shows the construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for Guangzhou FC, developed by China Evergrande Group, in Guangzhou, Guangdong province, China. Picture taken September 26, 2021 with a drone. REUTERS/Thomas Suen HONG KONG, Sept 28 (Reuters) – Beijing is prodding government-owned firms and......

EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC

Reuters
Sept 27 (Reuters) – Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. The deal with Gores Guggenheim (GGPI.O) will provide Polestar cash proceeds......

Erdogan: Turkey intends to buy more Russian defence systems

Reuters
Turkish President Tayyip Erdogan addresses the 76th Session of the U.N. General Assembly in New York City, U.S., September 21, 2021. REUTERS/Eduardo Munoz/Pool ISTANBUL, Sept 26 (Reuters) – President Tayyip Erdogan said Turkey still intended to buy a second batch of S-400 missile defense systems from Russia, a move that......

EXCLUSIVE Oil producer Hilcorp eyes purchase of shut Louisiana refinery -sources

Reuters
HOUSTON, Sept 24 (Reuters) – Houston-based oil producer Hilcorp (HILCO.UL) is evaluating Phillips 66’s (PSX.N) refinery in Alliance, Louisiana, for conversion into an oil export terminal, said four sources familiar with the matter, a move that would eliminate it as a source of motor fuels. Hilcorp, the largest privately owned......

Week Ahead in Mergers and Acquisitions: Sept. 27, 2021

Reuters
UNITED STATES POSTAL SERVICE See all Nantahala Capital Partners II Limited Partnership See all The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which......

Deutsche Bank CFO: There should be banking M&A, we must prepare

Reuters
James von Moltke, CFO of Germany’s Deutsche Bank is pictured in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski BERLIN, Sept 23 (Reuters) – Deutsche Bank (DBKGn.DE) sees the logic that there should be consolidation in the European banking sector and the task in hand is to prepare for that outcome,......

DiCaprio invests in cultivated meat start-ups Mosa Meat, Aleph Farms

Reuters
Sept 22 (Reuters) – U.S. actor Leonardo DiCaprio is investing in and joining the advisory boards of Aleph Farms and Mosa Meat, the two cultivated meat start-ups said in a statement on Wednesday. Cast members Leonardo di Caprio takes part in a photo call for the movie “Once Upon a......

Sony Group unit to buy India’s Zee Entertainment

Reuters
BENGALURU, Sept 22 (Reuters) – Sony Group Corp’s (6758.T) Indian unit will buy media giant Zee Entertainment Enterprises Ltd (ZEEL) (ZEE.NS), days after Zee’s shareholders asked for a management reshuffle, including the exit of Chief Executive Punit Goenka from the board. Zee, which has a presence in television broadcasting and......

Shell exits Permian with $9.5 bln Texas shale sale to ConocoPhillips

Reuters
Sept 20 (Reuters) – Royal Dutch Shell (RDSa.L) said on Monday it would sell its Permian Basin assets to ConocoPhillips (COP.N) for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition. For ConocoPhillips, it is the......

Ladbrokes owner Entain confirms DraftKings offer

Reuters
A sign hangs outside a branch of Ladbrokes in London, Britain December 22, 2017. REUTERS/Simon Dawson Sept 21 (Reuters) – Entain Plc (ENT.L) on Tuesday confirmed that U.S. fantasy sports betting company DraftKings (DKNG.O) has made an offer to buy the British gambling firm in a deal that one media......

Investors tune in as Universal leaps on market debut

Reuters
Shares surge almost 40% in early trade Biggest European listing of the year Listing is a coup for Amsterdam exchange AMSTERDAM, Sept 21 (Reuters) – Universal Music Group’s (UMG.AS) shares leapt more than a third in their stock market debut on Tuesday as investors bet a boom in music streaming......

FTC staff to present findings on Big Tech’s smaller acquisitions

Reuters
WASHINGTON, Sept 15 (Reuters) – Staff of the Federal Trade Commission will present their findings on Wednesday on business deals that tech platforms like Facebook (FB.O) and Alphabet’s (GOOGL.O) Google did that were sometimes too small to prompt antitrust review. The agency, which began holding open meetings after progressive Lina......

AT&T anticipates pending WarnerMedia-Discovery deal to close by mid-2022

Reuters
AT&T logo is seen on a smartphone in front of displayed Discovery and Warner Media logos in this illustration taken May 17, 2021. REUTERS/Dado Ruvic Sept 14 (Reuters) – Telecoms company AT&T (T.N) said it anticipates that the pending deal to combine WarnerMedia’s media assets with Discovery Inc (DISCA.O) will......

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