Soyoung's Feed
Jul 22, 2014

PetSmart hires bank to study buyback, deal options: sources

NEW YORK (Reuters) – PetSmart Inc has hired investment bank JPMorgan Chase & Co to evaluate a range of alternatives, including a leveraged share buyback and a potential deal with private equity, according to people familiar with the matter.

PetSmart’s hiring of JPMorgan in recent weeks comes as investor pressure mounts on the pet supply store chain to sell itself, at a time when fierce competition from large retailers including Wal-Mart and Amazon squeezes specialty stores.

Jul 18, 2014

Murdoch’s tenacity is the trade in Time Warner-Fox face-off

NEW YORK, July 18 (Reuters) – Many investors say the best
trading strategy around a potential takeover of Time Warner Inc
by Twenty-First Century Fox is to wager that
media baron Rupert Murdoch will pay up to get what he wants. The
trick is that it may be too late to place the obvious bets.

Time Warner said on Wednesday it had rebuffed Twenty-First
Century Fox’s roughly $80 billion bid, or $85 per share, in
recent weeks over valuation and concerns that the Murdoch family
will have too much power. But people familiar with Twenty-First
Century Fox said Murdoch is determined to buy the rival media
giant.

Jul 17, 2014

Shire, AbbVie to announce $53 billion merger by Friday: sources

By Olivia Oran and Soyoung Kim

(Reuters) – Shire Plc (SHP.L: Quote, Profile, Research, Stock Buzz) and U.S. drugmaker Abbvie Inc (ABBV.N: Quote, Profile, Research, Stock Buzz) plan to announce a $53 billion merger as soon as Friday morning, two people said on Thursday.

Dublin-based Shire, which sells drugs for rare diseases, said earlier this week it was ready to recommend a deal to shareholders after AbbVie increased its offer.

Jul 17, 2014

Time Warner win would make Murdoch U.S. media king

NEW YORK (Reuters) – Rupert Murdoch’s Twenty-First Century Fox Inc made an audacious offer for Time Warner Inc that if it succeeds would transform the American media landscape and cement the 83-year-old’s status as the most powerful magnate in U.S. media and entertainment.

While Time Warner, whose assets include the HBO cable channel and the Warner Bros movie studio, rejected the $80 billion bid, Murdoch is unlikely to abandon the pursuit and has the “disciplined determination” to get the deal done, people close to the situation said. Investors expect he will eventually raise the offer and increase the cash component – 40 percent – to win the prize.

Jul 16, 2014

Murdoch seen likely to pursue Time Warner despite rebuff

NEW YORK, July 16 (Reuters) – Rupert Murdoch’s 21st Century
Fox Inc said on Wednesday that Time Warner Inc
had rebuffed its offer to buy the company, but people familiar
with his thinking say he is determined to bring the U.S. media
conglomerate into his empire.

Time Warner’s stock rose 16.9 percent to $82.99 on the New
York Stock Exchange after news that Murdoch had his sights on
Time Warner, the owner of media properties including the Warner
Bros. movie studio and cable channels such as HBO and CNN.

Jul 16, 2014

Murdoch’s Fox hunting Time Warner

By Soyoung Kim and Soham Chatterjee

(Reuters) – Rupert Murdoch’s 21st Century Fox (FOXA.O: Quote, Profile, Research, Stock Buzz) said it made a bid to buy media conglomerate Time Warner Inc (TWX.N: Quote, Profile, Research, Stock Buzz) but was rebuffed.

The bid was worth roughly $80 billion, or $85 per share in cash and stock, a source familiar with the situation told Reuters.

Jun 30, 2014

Global M&A at seven-year high as big corporate deals return

NEW YORK (Reuters) – Investor support for large acquisitions and a desire to trump rivals in consolidating markets have led chief executives to strike big transactions so far in 2014, raising year-to-date global deal volumes to their highest level in seven years.

Corporate buyers did not shy away from going hostile if their targets proved unwilling to sell, while more U.S. companies rushed to buy overseas peers to lower tax rates and access cash held offshore in a practice known as inversion.

Jun 26, 2014

Exclusive: New Zealand billionaire mulls shedding U.S. auto assets – sources

NEW YORK (Reuters) – Graeme Hart, whose packaging conglomerate made him New Zealand’s richest man, is in the early stage of exploring options for his U.S. auto parts businesses, which he acquired for nearly $2 billion in 2011, according to people familiar with the matter.

A potential sale of the U.S. vehicle replacement parts providers underscores Hart’s efforts to pay down debt accumulated through the buyouts in the last few years that built his industrial empire, Rank Group Ltd.

Jun 26, 2014

New Zealand billionaire mulls shedding U.S. auto assets-sources

NEW YORK, June 26 (Reuters) – Graeme Hart, whose packaging
conglomerate made him New Zealand’s richest man, is in the early
stage of exploring options for his U.S. auto parts businesses,
which he acquired for nearly $2 billion in 2011, according to
people familiar with the matter.

A potential sale of the U.S. vehicle replacement parts
providers underscores Hart’s efforts to pay down debt
accumulated through the buyouts in the last few years that built
his industrial empire, Rank Group Ltd.

Jun 26, 2014

Relational amasses stake in Manitowoc, to urge split -sources

NEW YORK, June 26 (Reuters) – Activist investment firm
Relational Investors LLC has amassed a roughly 8.5 percent stake
in Manitowoc Co Inc and is urging the crane and food
equipment company to break itself up, according to people
familiar with the matter.

Relational, founded by investor Ralph Whitworth, believes
that Manitowoc should spin off its high-margin food service
equipment business into a separate entity in order to boost its
stock prices, the people said on Thursday.