US: Trump role in merger reviews to be target of House Panel: Bloomberg

US: Trump role in merger reviews to be target of House Panel: Bloomberg

A congressional antitrust panel plans to examine whether the White House improperly influenced merger oversight, including the Justice Department’s lawsuit to block AT&T’s takeover of Time Warner, according to Bloomberg. Democratic Representative David Cicilline of Rhode Island, who is taking over as chairman of the House Judiciary Committee’s antitrust panel, wants to examine what role, […]

US: Eli Lilly confirms US$8B takeover of Loxo Oncology

US: Eli Lilly confirms US$8B takeover of Loxo Oncology

Biopharmaceutical giant Eli Lilly has agreed to buy Loxo Oncology in a deal valued at US$8 billion. Eli Lilly said it will pay US$235 a share in cash for Stamford, Connecticut-based Loxo. Loxo is expected to bolster Eli Lilly’s oncology-treatment portfolio. It also aims to treat patients that have cancer from single-gene abnormalities. “We are […]

UK: PayPal-iZettle takeover in CMA crosshairs

UK: PayPal-iZettle takeover in CMA crosshairs

Britain’s competition watchdog announced on Wednesday, December 5, that PayPal’s US$2.2 billion takeover of Swedish financial technology startup iZettle would be referred for an in-depth review. The Competition and Markets Authority (CMA) stated PayPal had refused to offer proposals to address its concerns on how the deal—PayPal’s biggest ever—could hurt competition and could lead to […]

UK: Government does not intend to recommend CMA review of Comcast-Sky deal

UK: Government does not intend to recommend CMA review of Comcast-Sky deal

Britain’s government says it does not intend to refer US media conglomerate Comcast’s £22 billion (US$30.7 billion) takeover offer for London-based Sky to competition authorities, saying the proposed merger doesn’t raise concerns on public interest grounds. Culture Secretary Matt Hancock says he’s “reviewed the relevant evidence” and that he is “minded not to issue” an […]

UK: CMA approves Co-Op’s Nisa takeover

UK: CMA approves Co-Op’s Nisa takeover

The UK’s Competition and Markets Authority (CMA) has approved grocery retailer The Co-Op’s £137.5 million (US$191.7 million) takeover of retailer Nisa after finding that the merger does not give rise to competition concerns. The CMA declared that as The Co-op operates as a groceries retailer and Nisa operates as a groceries wholesaler they do not […]

Germany: Bayer to sell US$3.7b of new shares to Temasek

Germany: Bayer to sell US$3.7b of new shares to Temasek

Bayer said late Monday, April 16, that it would sell new shares to investment company Temasek for roughly €3 billion (US$3.7 billion); the proceeds of which Bayer will use to help finance its takeover of Monsanto. The German drugmaker stated that under the agreement, Bayer is to issue to a subsidiary of Temasek at an […]

UK: Tesco completes US$5.51b takeover of Booker

UK: Tesco completes US$5.51b takeover of Booker

Tesco, Britain’s biggest retailer, has completed the £4 billion (US$5.51 billion) takeover of Booker, the country’s largest wholesaler, the companies said on Monday, March 5. The cash and shares deal, originally worth £3.7 billion (US$4.6 billion at the time) when it was first announced in January 2017, was implemented through a court-sanctioned scheme of arrangement. […]

Australia: Court upholds appeal against Tabcorp’s $4.9b buyout of Tatts

Australia: Court upholds appeal against Tabcorp’s $4.9b buyout of Tatts

Tabcorp’s US$11 billion bid for rival gambling outfit Tatts has hit an unforeseen courtroom hurdle put in place by the takeovers handicapper, the Australian Competition and Consumer Commission (ACCC). Tabcorp had expected to be well into the home straight with the takeover before the start of Spring Carnival, but now finds itself back it the […]

EU: EC president calls for more scrutiny in foreign takeovers

EU: EC president calls for more scrutiny in foreign takeovers

European Commission president Jean-Claude Juncker today confirmed his plans for a new framework to “screen” foreign takeovers of EU companies. The commission is expected to set out more details on the foreign deal crackdown in Brussels tomorrow. Chinese takeover activity in particular has caused a stir in Europe, with China-to-EU mergers and acquisitions (M&A) reaching […]