Aviate Australia M&A targets
Other than OZL, SFR & BLD there are some very interesting potential M&A candidates within the Aviate M&A screen (please call for full list), some of which already have had approaches or...
View ArticleSamsung talking large M&A. Could Philips be a target?
Two clear messages are coming out of the Samsung analyst day today (their first in 8 years); i) they are focused on large-scale M&A (they are a $200bn behemoth with $50bn in cash) and ii) their...
View ArticleFMs want corporates to use their cash…
Here is some proof: CVG trades +20% after hours after announcing an $820m acquisition PANW +7.2% after hours on announcing an acquisition FEYE last Friday +38% on making a $1bn deal. VRNT +9% to all...
View ArticleMore IT Security M&A? Here’s why
In 30 years we have gone from 1,000 devices connected to the internet in 1984 to 10 billion devices connected in 2014. For $19 trillion (see above) to materialize Chambers himself sees the needs not...
View ArticleCorporate will take note of this
Look at how the market/PMs/shareholders are rewarding companies for putting money to work. The latest example is $15bn Forest Labs which is trading +16%, at all time highs, having announced $2.9bn cash...
View ArticleM&A
M&A is a theme we are interested in for this year as cash/debt is still cheap, and FMs want corporates to start using their cash-piles. But looking for acquirers, rather than potential bid targets,...
View ArticleThe “sod-it” economy
Linked to our Corporate spend theme, we thought this was interesting. The head of Ernst and Young in the UK had this to say about corporate spend: “There is a great phrase we have kicked around in our...
View ArticleBSkyB and M+A
We see another join us in support for Sky. Interestingly the bulge-bracket concerned was Sky’s adviser the last time Murdoch came knocking.
View ArticleCorporate spend and M+A
One of the key themes in our Year ahead piece is we expect corporates to spend more (M+A, capex etc). However, trying to find the targets is like finding a needle in haystack (although we do have a...
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CPU: Good times
It is often forgotten that CPU has #1 market position in all major markets (Australia 60% mkt share, Hong Kong 60%, US 70%, Canada 55%) and UK #2 (35% mkt share) which means an increase in corporate...
View ArticleUPM: could the CEO step-down at Stora Enso pave the way for a deal with UPM?
With the CEO of Stora Enso stepping down you may see growing speculation of a JV between Stora and UPM-Kymmene on their paper assets, which if to occur would be very bullish for both shares. In any...
View ArticleM&A/Spin-offs. Who is next?
We understand that Merck’s consumer business disposal is due shortly and Reckitt’s said on their call “a capital market solution is a strong option” for the Pharma business”. There is clearly a buyer...
View ArticleM&A fever
In the last 2 weeks we have seen ~$300bn of deals announced globally, with M&A in 2014 already up 53% YoY. April 23rd - Stockland bid for Australand Property – USD$2.77bn April 22nd - Valeant...
View ArticleCapex revival (cont)
We continue to like names exposed to a revival in Capex plans this year (please call for basket constituents or see our Year Ahead). US capex is back to its peak and looks set to rise further. Indeed...
View ArticleM&A, breaking records? Investment banks…
The value of worldwide M&A announced so far this year has topped $1 trillion, passing that level for only the third time this early in the year since records began in 1980 (Thomson Reuters). UBS...
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European Healthcare and “animal spirits”
“Animal spirits”, that spontaneous urge to action rather than inaction, are likely to get stirred post the price action in Pfizer, the acquirer, up 4% after confirming their interest in AstraZeneca. We...
View ArticleCommerzbank, add
Though not the most direct beneficiary of ECB actions yesterday, Commerzbank is a first-derivative winner as any loosening of credit conditions in the periphery will help accelerate the unwinding of...
View ArticleM&A – Baytex buying Aurora oil and gas for $1.84bn
On Friday Aurora Oil and Gas (AUT AU, AEF CN) announced it had agreed to a $4.10 takeover proposal from Canadian listed Baytex. Despite the offer price being a 52% premium to the previous weeks vwap...
View ArticleAustralian M&A update – AQA, SAI, DJS, ALZ, GFF
AQA – Baosteel in control, $3.40 offer now unconditional. Game over for AQA with Tony Poli and Mineral resources conceding defeat/accepting. Baosteel now has control with 55.5% of the company. Offer...
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