Analysis of recent M&A transactions
Rockwell Collins has officially announced the acquisition of B/E Aerospace. The transaction is expected to be completed in 6 months in the spring of 2017. The boards of both companies have approved the deal. Rockwell Collins is expected to pay $34.10 per share in cash, representing a 22.5% premium with respect to the closing price … Continue reading A new deal above the clouds: Rockwell Collins acquires B/E Aerospace
General Electric and Baker Hughes reached a deal for the combination of their oil services business units. General electric will contribute its oil-and-gas business and pay $7.4 billion through a special dividend of $17.50 for each Baker Hughes share. The new company will be 62.5% owned by GE and 37.5% owned by Baker Hughes shareholders. … Continue reading A new giant emerges in the oil services industry: the marriage of Baker Hughes with GE
On September 14th, 2016, Bayer has reached a deal, currently pending regulatory approval, to acquire Monsanto in an all cash transaction for $128-a-share ($56bn Equity Value, $66bn EV) COMPANY OVERVIEW – BAYER Bayer AG (ETR:BAYN , Market Cap: €77.57bn, Share Price: €93.90 as of 11/11/2016) is a German multinational chemical and pharmaceutical company traded on the Frankfurt Stock Exchange. … Continue reading Bayer-Monsanto: A Genetically Modified Deal
On July 25th Verizon announced that it would acquire Yahoo’s core business in an all-cash deal, valuing it at around $4.83bn. Companies Overview Verizon Verizon Communications Inc. (NYSE:VZ) is one of the world’s leading providers of communications, information and entertainment services and products to consumers, businesses and governmental agencies. With global presence, it offers voice, … Continue reading Verizon-Yahoo: A Third Force Arises?!
On September 6, 2016, Enbridge Inc. and Spectra Energy Corp. have entered into a definitive merger agreement under which Enbridge and Spectra Energy will combine in a stock-for-stock merger transaction, valuing Spectra Energy common stock at approximately $28 bn Companies Overview Enbridge Inc. Enbridge Inc. is one of the leading North America energy distribution companies. … Continue reading Enbridge Inc. and Spectra Energy Corp. merge to create a North America gas infrastructure giant
On May 1, 2016, Halliburton and Baker Hughes, respectively the second and third largest oilfield services firms, have announced the abandonment of their planned $34.6bn merger because of opposition from US and European regulators. Recap of acquisition’s drivers and structure of the deal Throughout this deal, Halliburton aimed to broaden its product lines and increase … Continue reading Halliburton and Baker Hughes broken marriage
Nowadays, Tyco has become a mere shadow of the diversified engineering group that used to be in the 1990s. Over the years, it has expanded under an aggressive acquisition strategy overseen by former CEO Dennis Kozlowski. The slice of the once $130bn conglomerate, which nowadays sells only fire safety and security systems, will be acquired by Johnson … Continue reading The dilemma of cross-border acquisitions: Tyco International and Johnson Controls
Anheuser-Busch InBev NV has accepted Asahi Group Holdings Ltd.’s offer to buy the Peroni, Grolsch and Meantime beer brands for 2.55bn euros ($2.9bn). The AB InBev-SABMiller merger would create the world’s biggest beer group with about 30% of the global beer market. Drivers of the deal Asahi’s offer to buy the Peroni, Grolsch and Meantine … Continue reading AB InBev – Asahi deal M&A activity rebounds for the Alcohol Industry
Activision Blizzard – King Digital Activision Blizzard Inc. will buy the British developer King Digital Entertainment for a nice $5.9bn settled entirely by cash. The rationale of the deal seems to be twofold: operating and financing based. The combined company is expected to be among the most important tech giants worldwide in terms of active users, with more … Continue reading Activision Blizzard takeover of King Digital Entertainment
Bocconi Students M&A Circle 
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