Quentin's Feed
Oct 11, 2010

Two teams try lining up Potash Corp bids: reports

MUMBAI/LONDON (Reuters) – Reported fresh attempts to outdo BHP Billiton’s $39 billion bid for Canadian group Potash Corp look unwieldy, analysts said, suggesting the world’s biggest miner still has the field to itself.

Bernstein analyst Paul Galloway said getting the financial clout needed to improve on the terms of the biggest takeover bid this year required either aligning a diverse consortium or relying on the politically contentious backing of China.

Oct 7, 2010

Dubai’s DIFC seeks buyer for SmartStream -sources

LONDON, Oct 7 (Reuters) – The investment arm of the group
that operates Dubai’s tax-free business hub is seeking to sell
financial software company SmartStream Technologies, three
people familiar with the matter said on Thursday.

DIFC Investments, an arm of Dubai’s International Financial
Centre (DIFC), has hired UBS to help sell SmartStream, the
people added.

Oct 7, 2010

Investcorp plans Moneybookers IPO -sources

LONDON, Oct 7 (Reuters) – Investcorp INVB.BH, the
Bahrain-based investment bank, plans to float Moneybookers, the
fast-growing European online payment firm it tried to sell last
year, four people familiar with the matter said on Thursday.

Investcorp has hired Morgan Stanley and Jefferies to help
prepare for a stockmarket listing, the people said. Bank of
America Merrill Lynch is also likely to have a role, two of the
people added.

Oct 6, 2010

AAC to sell chemical distributor IMCD -sources

LONDON, Oct 6 (Reuters) – AAC Capital, the former private
equity arm of Dutch bank ABN AMRO, is looking to sell IMCD, the
Rotterdam-based chemical distributor with nearly 1 billion
euros in revenue, two people familiar with the matter said on
Wednesday.

The Dutch investor has hired UBS as an adviser, and the
process is at an early stage, the people added.

Oct 4, 2010

Acision’s backers give mobile firm $100 mln more

LONDON, Oct 4 (Reuters) – Acision, the mobile-data company
whose technology delivers almost a trillion text messages a
year, has raised $100 million of new funding from its owners,
led by Russian-born billionaire Len Blavatnik.

The company, whose systems are used by eight of the 10
biggest mobile operators, said the fresh capital will help it
invest for growth as devices like Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPad
drive a huge increase in mobile-data traffic.

Oct 4, 2010

Sanofi pays low rate for $15 bln Genzyme loans

LONDON, Oct 4 (Reuters) – Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) will
pay initial interest rates of less than 1 percent on the $15
billion of loans backing its hostile bid for U.S. rare-disease
specialist Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz), a regulatory filing showed.

On Monday the French drugmaker went hostile with its $18.5
billion bid for Genzyme, taking the offer directly to
shareholders after being rebuffed by Genzyme management.
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Oct 4, 2010

IPO candidate Edwards sees stronger second half

LONDON, Oct 4 (Reuters) – Edwards Group, the British vacuum
technology firm preparing for a sale or flotation, said it had
“rapidly recovered” from the global downturn and its sales and
profits would grow further in the second half of the year.

In a statement on Monday, the firm said first-half net sales
rose 74 percent from a year earlier to 298 million pounds.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) rose to 59.8 million pounds from 2.2 million a year
earlier.

Oct 1, 2010

Kremlin trip to Algiers may trigger Vimpelcom deal

MOSCOW/LONDON, Oct 1 (Reuters) – Russian mobile operator
Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz) and Egyptian businessman Naguib Sawiris may be
poised to unveil a deal combining their telecoms assets ahead of
President Dmitry Medvedev’s visit to Algeria next week.

One source familiar with the matter said an announcement
relating to Vimpelcom and Sawiris could come as early as Monday,
without specifying what the statement would address.

Sep 30, 2010

CVC seeks $1.5 billion for can-maker Mivisa: sources

LONDON (Reuters) – Buyout firm CVC CVC.UL is poised to receive preliminary bids for Mivisa MIVIS.UL, the Spanish food-can maker which it hopes will fetch 1 to 1.2 billion euros ($1.4 to $1.6 billion), people familiar with the matter said.

The potential sale underscores an improving market for the sale of industrial companies exposed to swings in the economy. Bids are due on Friday, the people said, and are likely to come from both rival private equity firms and competing packaging companies.

Sep 29, 2010

Sanofi reported weighing higher Genzyme offer

PARIS/LONDON (Reuters) – Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) is considering whether to raise its $18.5 billion bid for U.S. drugmaker Genzyme (GENZ.O: Quote, Profile, Research, Stock Buzz) as soon as next week, Bloomberg said on Wednesday, citing people with knowledge of the matter.

France’s largest drugmaker is “leaning toward” raising the $69-a-share offer by $1 or $2 a share, Bloomberg said. It has not ruled out a hostile bid but would prefer friendly negotiations, the report said.

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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