Exclusive outtakes from industry leaders
Investment bankers have been saying that there are only two
things you need to know when it comes to Asia M&As — China and
Is this still the case after Rio Tinto walked away from
Chinalco’s $19 billion proposal earlier this year?
A noticeable rise has been seen over the last 12 to 18 months
in China-related mergers and acquisitions, particularly Chinese
firms moving on overseas targets, Philip Partnow, a senior banker
with UBS Securities, said at the Reuters China Investment Summit.
“My personal view is it’s a very interesting and exciting
area,” said Partnow, deputy head of UBS’s investment banking
department in China. “There’s a lot of activity.”
It’s a puzzle M&A bankers and corporate executives have been trying to solve for years: how far from your home market can an acquisition take place and ultimately stumble over cultural differences? It’s a question that looms large as quintessentially Italian automaker Fiat prepares to swallow up Chrysler – inventor of the K-car and the minivan – and which reportedly haunts St Louis-based employees of Anheuser Busch in the aftermath of their company’s takeover by the penny pinching Belgians and Brazilians at InBev.
Gary Katz, CEO of Deutsche Boerse unit International Securities Exchange, insisted during his appearance at the Reuters Exchanges and Trading Summit that all has been sweetness and light since the Germans assumed control of the upstart American options exchange and that there has been “nearly zero turnover” since the takeover.
There might not be the enthusiasm of a couple of years ago, but some deals in the defense sector might actually get done, according to Thomas Captain, head of Deloitte‘s aerospace and defense group.
Speaking at the annual Reuters Aerospace and Defense Summit in Washington, Captain said there were three possibbilities for deals that he sees in the near future.
Executives at this year’s Reuters Aerospace and Defense Summit almost uniformely said that finding critical, and rather immediate, value in mergers and acquisitions was especially important now in a climate of less money available for financing.
But opportunities do exist and can be found after careful hunting, said Alex Dorrian (heard first in this clip), CEO of Thales UK and executive vice president of International Operations for Thales Group worldwide, and Allan Cameron, chairman and CEO of Thales North America.
With the white noise of MicroHoo ringing in everyone ears, we asked Adobe Systems CEO Shantanu Narayen why he thinks “royal weddings” — idylic mergers between multi-billion dollar companies — in Silicon Valley are few and far between.
You know, because, giant Deathstars are better for everybody, right?
The answer: Even though some merger adviser is probably ringing to talk about “strategic alternatives” (we suppose), Silicon Valley entrepreneur-types are, like, you know, obsessed with minding their own beeswax.
The spectacular debut this month of Take Two’s blockbuster video game Grand Theft Auto was no better than expected, EA’s head of international publishing, Gerhard Florin, told the Reuters Technology, Media and Telecoms summit in Paris.
EA on Monday extended its public offer for Take Two by a month after failing to win more shareholder support for its $2 billion hostile bid but did not up the price. Florin said he was surprised there had not been a more negative approach to the violent game, which instead was hailed as a work of art, even in Germany, which tends to shun violent video games.