International hedge funds are increasingly targetting troubled firms in Australia, from cotton or macadamia farms to cattle stations and vineyards, expecting a nascent distressed debt market to generate double-digit returns.
Mergers & Acquisitions
Property lender Aareal Bank to takeover German rival Corealcredit Bank for €342M
Property lender Aareal Bank this weekend announced that it would takeover German rival Corealcredit Bank for €342 million. Corealcredit will be bought from American private equity firm Lone Star Funds.
Oracle to acquire enterprise software firm Responsys for $1.5B
Oracle has agreed to purchase Responsys for $1.5 billion but not including debt or a 38% premium on the the company's closing price on Thursday, December 20, The New York Times The Dealbook reported.
Nine West, Anne Klein and Easy Spirit owner Jones Group have accepted the buyout offer from private equity company Sycamore Partners
Nine West, Anne Klein and Easy Spirit owner Jones Group have accepted the buyout offer from private equity company Sycamore Partners, The Dealbook reported.
EU mergers and takeovers
The following are mergers under review by the European Commission and a brief guide to the EU merger process.
Latest News
Vale, the world's leading producer of iron ore, agreed to enter into a joint venture with power company Cemig to run six hydroelectric power plants. Vale also halved its 9% stake in Norte Energia, which builds a hydroelectric dam in Amazon, Brazil
Southwire Co., one of the biggest electrical wire and cable makers in the US, has agreed to takeover smaller rival Coleman Cable for $492 million in cash. Southwire will also assume Coleman's debt, bringing the deal size to about $786 million.
Textron Inc., the maker of Cessna planes, reportedly agreed to takeover aircraft manufactured Beechcraft Corporation for $1.4 billion. Beechcraft has put up itself for sale after emerging from a bankruptcy protection earlier this year.
Vodafone Group has agreed on a domination agreement with Kabel Deutschland a few months after purchasing the German cable company for €7.7 billion. Domination agreements are used in Germany by acquirers who wish to gain full control of the company without controlling all the shares.
New York, US-based multinational private equity firm Blackstone Group LP acquired a minority stake in Edens shopping center in a deal valued at $718 million.
Singapore's national flight carrier Singapore Airlines Ltd announced on Friday its purchase of an additional 7.3% equity stake in budget carrier Tiger Airways Holdings Ltd in a deal valued at S$49 million ($38.7 million).
Hamilton, Bermuda-based global commercial property firm Brookfield Property Partners LP increased its offer to buy New York, US-based firm Brookfield Office Properties Inc by $1 per share after a bid evaluation.
London-based global advertising firm DraftFCB has acquired independent creative agency Inferno in a takeover transaction that could give the agency a market valuation of £20 million.
American software giant Oracle said today that it will acquire email marketing firm Responsys in a deal valued at $1.5 billion, to combine it with recent acquisition Eloqua.
