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May 10, 2021

Mergers / Acquisitions / Takeovers

Ping An finds suitable rebound deal

Reuters
HONG KONG (Reuters Breakingviews) – Ping An Insurance may indemnify one costly deal with a better one. Not long after losing $1.5 billion in a failed property investment, the Chinese conglomerate plans to spend up to $7.9 billion to buy control of Founder Group, Peking University’s bankrupt corporate empire. A......

Goldman Sachs profit soars on global deals frenzy, trading boom

Reuters
(Reuters) – Goldman Sachs Group Inc surged past Wall Street expectations for first-quarter profit on Wednesday, as the U.S. investment banking giant capitalized on record levels of global dealmaking and a coronavirus-driven boom in equity trading. An unprecedented boom in private firms merging with listed shell companies to go public......

Toshiba shares surge on imminent CEO resignation, bidding war expectations

Reuters
TOKYO (Reuters) – Shares in Japan’s Toshiba Corp surged on Wednesday, propelled higher by reports of more plans of bids for the conglomerate and expectations that its embattled chief executive would soon resign. FILE PHOTO: Toshiba Corp CEO Nobuaki Kurumatani attends a news conference at the company’s headquarters in Tokyo,......

France’s Ynsect targets food market with Protifarm buy

Reuters
PARIS (Reuters) – Ynsect has agreed a takeover of Dutch firm Protifarm, the French supplier of edible insects for animal feed said on Tuesday, marking a move into the food market amid rising demand for healthy, eco-friendly eating. Protifarm is a leader in insect ingredients for human food, and the......

Microsoft in talks to buy AI firm Nuance Communications – Bloomberg

Reuters
FILE PHOTO: A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File Photo (Reuters) – Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc, Bloomberg News reported on Sunday. An agreement could be announced as soon as......

Breakingviews – Capital Calls – Cellebrite good times

Reuters
A Cellebrite forensic device extracts data from a Samsung mobile phone during a demonstration at a training centre in Beijing, China June 19, 2018. REUTERS/Cate Cadell NEW YORK (Reuters Breakingviews) – SOMETHING TO CELLEBRITE. Controversy over cops breaking into people’s cellphones is heading to a stock exchange near you. Israeli......

ACS interested in buying “significant” stake in Atlantia’s motorway unit – source

Reuters
FILE PHOTO: A view of the Autostrade per l’Italia headquarters in Rome, Italy, July 21, 2020. REUTERS/Yara Nardi/File Photo MILAN (Reuters) -Spanish infrastructure group ACS has sent a letter to Atlantia expressing interest in buying a “significant stake” in the Italian group’s motorway unit, a source with knowledge of the......

Malaysia’s Axiata, DiGi.Com shares suspend trading ahead of ‘material announcement’

Reuters
KUALA LUMPUR (Reuters) – Malaysia’s Axiata Group Bhd and DiGi.Com Bhd suspended trading of their shares on Thursday, pending a “material announcement”, both telecommunication companies said in exchange filings. Last month, local newspaper The Star reported citing sources that talks have resumed between Telenor ASA, the largest shareholder in DiGi.Com,......

Giorgio Armani could consider an Italian partner: magazine

Reuters
FILE PHOTO: Italian designer Giorgio Armani appears at the end of his Haute Couture Spring/Summer 2016 fashion show for Giorgio Armani Prive in Paris, France, January 26, 2016. REUTERS/Benoit Tessier/File Photo MILAN (Reuters) – Giorgio Armani may consider a joint venture with another Italian company, the founder of the Milanese......

Insurer Genworth terminates $2.7 billion buyout deal with China Oceanwide

Reuters
(Reuters) – Genworth Financial Inc has terminated a $2.7 billion buyout agreement with investment firm China Oceanwide Holdings Group Co, the U.S. insurer said on Tuesday. Originally proposed in October 2016, the merger was stalled for years over concerns about Chinese access to sensitive data of U.S. citizens. Shares of......

Air Canada and Transat terminate planned deal

Reuters
FILE PHOTO: Air Canada airplanes are pictured at Vancouver’s international airport in Richmond, British Columbia, Canada, February 5, 2019. REUTERS/Ben Nelms/File Photo (Reuters) – Air Canada and Transat AT Inc said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada. The two companies......

Analog Devices get EU nod for $21 billion Maxim buy

Reuters
BRUSSELS (Reuters) – U.S. chipmaker Analog Devices (ADI) has gained unconditional EU antitrust clearance for its $21 billion acquisition of rival Maxim Integrated, its biggest ever deal, a filing on the European Commission website showed on Thursday. ADI is seeking to boost its market share in automotive and 5G chipmaking......

3i Infrastructure to buy 60% stake in DNS:NET for 182 million euros

Reuters
(Reuters) – UK-listed investment company 3i Infrastructure said on Thursday it has agreed to invest 182 million euros ($213.23 million) for a 60% stake in German telecommunications provider DNS:NET. 3i Infrastructure, which is buying the stake from private equity fund Deutsche Beteiligungs AG, said it will also provide additional funding......

Singapore wealth fund buys 2.5% stake in Cellnex from Benetton family

Reuters
MADRID (Reuters) – Singapore wealth fund GIC has agreed to buy a 2.5% stake in Europe’s largest mobile phone towers operator Cellnex from Edizione, the Benetton family’s investment firm, Edizione said on Friday evening. Through the acquistion, worth 542 million euros ($638 million), GIC would raise its stake in Cellnex......

Australia’s AMP says Ares keen to buy 100% of unit’s private markets business

Reuters
FILE PHOTO: The logo of AMP Ltd, Australia’s biggest retail wealth manager, adorns their head office located in central Sydney, Australia, May 5, 2017. Picture taken May 5, 2017.REUTERS/David Gray/File Photo (Reuters) – Wealth manager AMP Ltd said on Monday that U.S.-based Ares Management Corp was interested in buying a......

Russia bridles at Norway’s ‘far-fetched’ block on sale of engine maker

Reuters
A view of factory premises of Bergen Engines AS in Bergen, Norway, March 9, 2021. Picture taken on March 9, 2021. NTB/Bjornar Moronning/via REUTERS MOSCOW (Reuters) – Russia said on Friday that Norway had blocked the sale of a Norwegian maritime engine maker to a Russian company on a far-fetched......

Aviva sells Polish business to Allianz for $2.9 billion

Reuters
LONDON (Reuters) – Aviva has sold its Polish operations to Germany’s Allianz for 2.5 billion euros ($2.94 billion) in cash, completing a programme to sell European and Asian assets begun last year, the British insurer said on Friday. Allianz beat rival bids from Italy’s Generali and Dutch insurer NN, sources......

Santander offers to buy outstanding stake in Mexican unit

Reuters
FILE PHOTO: A logo of Santander is seen on a branch in the Andalusian capital of Seville, southern Spain January 27, 2016. REUTERS/ Marcelo del Pozo/File Photo MADRID (Reuters) – Spain’s Banco Santander said on Friday it will offer to buy the 8.3% stake in its Mexican unit it doesn’t......

News Corp to buy Investor’s Business Daily for $275 million

Reuters
FILE PHOTO: The News Corporation logo is displayed on the side of a building in midtown Manhattan in New York, U.S., February 27, 2018. REUTERS/Lucas Jackson/File Photo (Reuters) – Rupert Murdoch’s News Corp said on Thursday it would acquire Los Angeles-based financial news firm Investor’s Business Daily (IBD) from O’......

Europe needs $355 billion for 5G rollout, industrial study says

Reuters
BRUSSELS (Reuters) – Europe needs to pump 300 billion euros ($355 billion) into its telecoms infrastructure by 2025 if it wants to roll out super fast 5G across the 27-country bloc to boost economic growth and tap the potential of the technology, a report said on Thursday. The study by......

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