Mergers & Acquisitions
Corrected: Consortium buys Steve & Barry's
(Company corrects information it provided in paragraph one to include York Capital Management as member of a new investment firm, adds paragraph two details about Steve & Barry’s buyers, corrects headline to show consortium bought Steve & Barry’s) Full Article
Lehman may face hostile bid, raised to "buy": report
NEW YORK (Reuters) - Lehman Brothers Holdings Inc was raised on Thursday to "buy" from "neutral" by Ladenburg Thalmann & Co analyst Richard Bove, who said the Wall Street investment bank might become the target of a hostile takeover bid. Full Article
Top Global M&A Deals
Announced last week (2 Aug to 8 Aug 2008)
| Target | Acquirer | Value $M |
|---|---|---|
| GMK Noril'skiy nikel' OAO (RUS) | Kholdingovaya Kompaniya Interros ZAO (RUS) | 10,000.0 |
| Lonmin PLC (GBR) | Xstrata Plc (CHE) | 9,274.5 |
| Asciano Group (AUS) | Consortium of TPG Capital and Global Infrastructure Partners (USA) | 2,685.2 |
| Aracruz Celulose SA (BRA) | Votorantim Celulose e Papel SA (BRA) | 1,722.3 |
| Barclays Life Assurance Company Ltd (GBR) | Swiss Reinsurance Company Ltd. (CHE) | 1,477.0 |
| Gibson Energy Holdings Inc (CAN) | 1413281 Alberta ULC (CAN) | 1,218.1 |
| Sony BMG Music Entertainment (USA) | Sony Corp (JPN) | 1,200.0 |
| Alstom South Africa Pty Ltd (ZAF) | Consortium Consists of Actis, Old Mutual Private Equity, Existing Black Empowerment Investors, and Management (ZAF) | 700.0 |
| Senai Airport Terminal Services Sdn Bhd (MYS) | MMC Corporation Bhd (MYS) | 582.6 |
| CastlePoint Holdings Ltd (BMU) | Tower Group Inc (USA) | 490.0 |
Top Industries: Global M&A
Announced in the last 13 weeks (10 May to 8 Aug 2008)
| Industry | Deals | Value $M |
|---|---|---|
| Financials | 2,024 | 161,418.7 |
| Energy | 489 | 102,795.6 |
| Basic Materials | 1,029 | 83,711.1 |
| Healthcare | 583 | 83,595.7 |
| Non-Cyclical Consumer Goods / Services | 1,153 | 83,130.2 |
| Telecommunications Services | 194 | 81,721.3 |
| Industrials | 2,170 | 71,111.1 |
| Utilities | 358 | 66,949.3 |
| Cyclical Consumer Goods / Services | 1,751 | 51,790.1 |
| Technology | 1,074 | 38,883.3 |
We assume no or negative earnings for the majority of firms in our universe this quarter, and for some of our firms, the third quarter marks the fourth consecutive quarter of reported losses, clearly an unprecedented streak.
Struggling forestries bet on biofuel boom
HELSINKI (Reuters) - European and North American forestry companies are increasingly investing in making biofuels out of wood residues, a market they say will be closely linked with their core paper business. Full Article
Global Equity Offerings
- US & Canada
- EMEA
- Asia
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