Quentin's Feed
Sep 20, 2010

Amadeus selling online travel agent Opodo – sources

LONDON, Sept 20 (Reuters) – Spanish travel services group
Amadeus IT Holding SA (AMA.MC: Quote, Profile, Research, Stock Buzz) is seeking a buyer for its 74
percent stake in European online travel agent Opodo, three
people familiar with the matter said on Monday.

JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) has been hired as an adviser, they said.

Sep 17, 2010

Sanofi board heavyweights may be key to Genzyme deal

PARIS/LONDON, Sept 17 (Reuters) – An oil major, a luxury
cosmetics company and independent directors including a former
astronaut will have a key say in what may be the next
multi-billion dollar merger to shake the global pharmaceutical
industry.

Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) Chief Executive Chris Viehbacher
wants to buy U.S. based Genzyme (GENZ.O: Quote, Profile, Research, Stock Buzz), which makes drugs to
treat rare diseases, for $18.5 billion, but may be forced to pay
more in the face of resistance from Genzyme. [ID:nLDE68F05Y]

Sep 16, 2010

CVC near $3.3 billion buy of Swiss telco Sunrise: sources

LONDON (Reuters) – TDC A/S, the private-equity backed Danish telephone company, is close to a deal to sell Swiss unit Sunrise to buyout firm CVC Capital Partners, four people familiar with the matter said on Thursday.

The deal will place an enterprise value on Sunrise of about 3.3 billion Swiss francs ($3.3 billion), two of the people said, making it one of the year’s largest leveraged buyouts (LBOs).

Sep 16, 2010

CVC near $3.3bln buy of Swiss telco Sunrise-sources

LONDON, Sept 16 (Reuters) – TDC A/S (TDC.CO: Quote, Profile, Research, Stock Buzz), the
private-equity backed Danish telephone company, is close to a
deal to sell Swiss unit Sunrise to buyout firm CVC Capital
Partners [CVC.UL], four people familiar with the matter said on
Thursday.

The deal will place an enterprise value on Sunrise of about
3.3 billion Swiss francs ($3.3 billion), two of the people said,
making it one of the year’s largest leveraged buyouts (LBOs).

Sep 15, 2010

Buyout firms line up for RBS’s Priory sale-sources

LONDON, Sept 15 (Reuters) – A handful of buyout firms are
submitting indicative bids for mental-health specialist the
Priory Group, which seller Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz) hopes
could fetch about 1 billion pounds ($1.55 billion), people
familiar with the matter said.

Advent International, Bain Capital, Blackstone (BX.N: Quote, Profile, Research, Stock Buzz) and
Cinven [CINV.UL] were all planning to submit non-binding bids by
Wednesday’s deadline, the people said.

Sep 14, 2010

Goldman hires former Deutsche M&A co-head Olsher

LONDON, Sept 14 (Reuters) – Brett Olsher, the
mining-focused banker who was co-head of global mergers and
acquisitions at Deutsche Bank AG (DBKGn.DE: Quote, Profile, Research, Stock Buzz) until late July,
has left for Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz), a Deutsche spokeswoman said
on Tuesday.

Olsher will join as a partner managing director and co-head
of the natural resources group alongside London-based John
Vaske, two people familiar with the matter said, confirming a
report on The Wall Street Journal’s website. He will join in
December, one added.

Sep 14, 2010

Banks mull £1.3 billion pound sale or IPO of Edwards-sources

LONDON (Reuters) – The owners of Edwards, a British engineering firm whose vacuum technology is used by the world’s biggest chipmakers, have hired a trio of investment banks to explore a $2 billion-plus (1.3 billion pound) sale or flotation.

People familiar with the matter said owners CCMP Capital and Unitas Capital, both former buyout arms of JPMorgan, have hired Morgan Stanley (MS.N: Quote, Profile, Research), Goldman Sachs (GS.N: Quote, Profile, Research) and Bank of America Merrill Lynch (BAC.N: Quote, Profile, Research) to advise on strategic options for Edwards.

Sep 14, 2010

Banks mull $2 billion sale, IPO of UK’s Edwards:sources

LONDON (Reuters) – The owners of Edwards, a British engineering firm whose vacuum technology is used by the world’s biggest chipmakers, have hired a trio of investment banks to explore a $2 billion-plus sale or flotation.

People familiar with the matter said owners CCMP Capital and Unitas Capital, both former buyout arms of JPMorgan, have hired Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and Bank of America Merrill Lynch (BAC.N: Quote, Profile, Research, Stock Buzz) to advise on strategic options for Edwards.

Sep 14, 2010

Banks mull $2bln sale, IPO of UK’s Edwards-sources

LONDON, Sept 14 (Reuters) – The owners of Edwards, a British
engineering firm whose vacuum technology is used by the world’s
biggest chipmakers, have hired a trio of investment banks to
explore a $2 billion-plus sale or flotation.

People familiar with the matter said CCMP Capital and Unitas
Capital, both former buyout arms of JPMorgan, have hired Morgan
Stanley (MS.N: Quote, Profile, Research, Stock Buzz), Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and Bank of America Merrill
Lynch (BAC.N: Quote, Profile, Research, Stock Buzz) to advise on strategic options for Edwards.

Sep 9, 2010

Markets signal approval of Sanofi’s Genzyme tilt

LONDON/PARIS, Sept 9 (Reuters) – Chris Viehbacher’s tilt at
Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz), the maker of drugs for rare diseases, has
boosted Sanofi-Aventis SA’s (SASY.PA: Quote, Profile, Research, Stock Buzz) shares, sparked broker
upgrades and is backed by very cheap debt.

A stock rally since the Sanofi chief executive made his
approach public has added about 3.8 billion euros ($4.8 billion)
to Sanofi’s value — a sharp contrast to the billions wiped off
the market capitalisation of other acquisitive companies
recently, including BHP Billiton (BHP.AX: Quote, Profile, Research, Stock Buzz) (BLT.L: Quote, Profile, Research, Stock Buzz).

    • 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."
    • Follow Quentin