BASF buys Albemarle’s surface treatment unit in $3.2bn (£2.2bn) cash deal June 17, 2016 German chemical producer BASF is buying Albemarle's surface treatment business Chemetall for $3.2bn (£2.24bn) in cash. Frankfurt-based Chemetall is a global supplier of specialty chemicals used to treat the surfaces of metals and plastics, and a large part of its business is in making chemicals to protect sheet metal for cars against corrosion. The acquisition sees [...]
Revlon set to buy Elizabeth Arden in $870m deal June 16, 2016 Cosmetics maker Revlon is set to snap up perfume maker Elizabeth Arden for a whopping $870m (£610m). Elizabeth Arden shares jumped nearly 49 per cent to $13.85 in extended trading on Thursday after the news of the deal broke while Revlon shares rose slightly to $31.30. The deal has an equity value of $419m, based on Elizabeth Arden's total outstanding [...]
Microsoft’s acquisition of LinkedIn: Tech businesses must not get carried away June 16, 2016 Dealmakers everywhere will be hoping that tech companies don’t get carried away by news this week that Microsoft has acquired LinkedIn for a considerable sum of money. On the face of it, Microsoft’s decision to pay $26.2bn (£18.5bn) for the social media company could seem excessive but the company will have completed detailed cost modelling exercises [...]
Tech titans rule 2016 with $268bn of M&A activity June 15, 2016 Technology is leading the global mergers and acquisitions sector this year with $267.6bn worth of deals announced so far, according to new research by financial markets platform Dealogic. This is only the second time on record that technology deals accounted for the maximum number of M&A deals made in a year. The year 2000 saw [...]
M&A activity into the UK fell by 42 per cent at the start of the year, but was up over 100 per cent for the rest of Europe June 13, 2016 The first quarter of 2016 was pretty bad for inbound UK merger and acquisition (M&A) activity. Deal values decreased by 42 per cent from $51.4bn (£36.1bn) in the first three months of 2015 to $30bn in the same period this year, according to analysis from Deloitte. During the same period in the rest of Europe, M&A investment increased from $35.6bn [...]
Schneider rekindles take-over talks with Aveva after share price rebound June 13, 2016 French industrial group Schneider Electric has rekindled talks to acquire a majority stake in Cambridge-based engineering software developer Aveva. It's thought the deal could be agreed by the end of the month. It's Schneider's second attempt to strike a deal after talks between the two companies collapsed back in December last year. At the time Schneider said a merger would create "significant" challenges "that [...]
Microsoft is buying LinkedIn in surprise $26bn deal June 13, 2016 Microsoft is buying LinkedIn for $26.2bn (£18.5bn) the company announced today, in a completely unexpected deal that becomes one of the biggest ever in technology. Shares in Microsoft were down more than three per cent while LinkedIn shares rocketed nearly 50 per cent in pre-market trading. In a memo to staff, Microsoft boss Satya Nadella said: “This deal brings [...]
Microsoft megadeals: As Microsoft shells out $26.2bn on LinkedIn, what has become of its other $1bn plus acquisitions? June 13, 2016 Microsoft has announced plans to buy LinkedIn for $26.2bn (£18.5bn) – news so unexpected, it left most of the world's tech industry speechless. And while Microsoft's shares fell 3.1 per cent to $49.88 in pre-market trading in New York, it had quite the opposite effect on LinkedIn shares, which rocketed 48.4 per cent, to $63.42. Microsoft [...]
Terra Firma’s Guy Hands drops EMI lawsuit against Citigroup June 10, 2016 Guy Hands has backed down in his lawsuit with Citigroup today. Hands, who brought his case to the High Court in London earlier this week, had been suing the bank for £1.5bn worth of damages over his private equity firm Terra Firma's failed takeover of music group EMI. Hands claimed that Citigroup had misled him throughout the bidding process [...]
Vodafone NZ and Sky Network in telecoms and TV tie-up to compete with the likes of Netflix June 9, 2016 Global telecoms group Vodafone is merging its New Zealand unit with the country's largest provider of pay TV, Sky Network Television. The deal, worth £1.7bn, is in response to growing competition in the country from the likes of Netflix and other internet streaming services and will create one of the biggest companies on the New Zealand Stock [...]