Since 2014, specialising in Mergers & Acquisitions
British Telecommuniations (BT) has finalized a £ 12.5 bn deal to buy mobile operator EE from Deutsche Telekom and Orange. This article will first provide a brief overview of the European telecommunication industry and consequently the deal at hand will be analyzed from the standpoint of all three players involved. Industry Overview The telecommunication services … Continue reading BT TO EXPAND INTO MOBILE SERVICES THROUGH ACQUIRING EE
CHAPTER 2 In the first chapter of this story has been covered the bid made by Nokia to merge with Alcatel – Lucent. It was an all – stock financed transaction for which, assuming full acceptance, Nokia’s shareholders would have owned 66.5% of the combined company while Alcatel – Lucent’s one the remaining 33.5%. The … Continue reading NOKIA – Alcatel Lucent: an Analysis of the Deal [chapter 2]
CHAPTER 1 On April 15, 2015 Nokia announced a €15.6bn offer for Alcatel-Lucent that will create a huge Finnish-French rival to Ericsson and Huawei in the telecoms equipment industry, with a market capitalization of about €40bn and sales of about €27bn, matching those of Ericsson. Industry Overview Nokia, the world’s dominant maker of handsets in the … Continue reading NOKIA – ALCATEL LUCENT: CONNECTING PEOPLE, MERGING BUSINESSES [CHAPTER 1]
China National Chemical Corp, also known as ChemChina, agreed to buy Pirelli (PECI.MI), the world's fifth-largest tyre maker, in a € 7.1 billion ($7.7 billion) deal. This operation will put the 143-year-old Italian company in Chinese hands, and take it private again after 93 years of public listing. The offer is expected to be launched … Continue reading CHEMCHINA AND PIRELLI: WHO WANTS TO BE NEXT?
On March 31 2015, Italian web-based clothier Yoox SpA agreed to purchase Net-a-Porter, the high-end fashion site controlled by Cie. Financière Richemont SA, in an all-stock deal representing an effort to strengthen their presence in the small-but-increasingly-competitive online market for luxury goods. Transaction drivers The new company will be called Yoox Net-a-Porter Group and it will be the world’s largest … Continue reading DIGITAL LUXURY SHOPPING: YOOX – NET-A-PORTER
Spanish institution Banco Sabadell (SAB.MC) agrees to pay £1.7 bn for TSB (TSB.L), Britain's seventh biggest lender with 631 branches and 4.3% market share, in one of the biggest cross-border banking deals since the financial crisis. Formally announced on March 12, the deal was also welcomed by the UK Treasury as “a vote of confidence … Continue reading AN EMERGING INTERNATIONAL BANK: SABADELL BUYS TSB FOR £1.7 BN
July 2014 represented one of the most important turnaround points in the oil business in the last decade. An apparently trifling event as the reopening of the Libya’s ports and wells transformed significantly the market. According to the numbers, it was meaningless because Libya’s production jumped from 250’000 bpd to 900’000 bpd over the next … Continue reading OIL: A SHORT STORY
Hitachi, a Japanese conglomerate, will pay €773 million ($850 million) for Finmeccanica's 40% stake in Ansaldo STS: under Italian law, this type of operations requires a mandatory tender offer in order to be finalized. The Tokyo-based company will pay €9.65 for each Ansaldo STS share, equivalent to a 9.2% premium and it will launch a … Continue reading FINMECCANICA SELLS ANSALDO TO HITACHI FOR MORE THAN $2 BILLION
The increased M&A activity within the Healthcare sector has not slowed down in 2015, after we saw a record volume of transactions in the previous year. After securing financing, Canada-based Valeant has won a tender offer for Salix Pharmaceuticals, in a $14.5bn transaction. The market trend of increased deal activity for tax-inverted players still continues. … Continue reading THE END OF A TRILOGY – VALEANT ON SALIX CASE.
Bocconi Students M&A Circle 
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