Some interesting M&A deals happening in the last week:
1) Walgreen decided to buy Duane Reade for $1.1B taking over the 257 NYC stores
2) Simon Property is offering $10B for General Growth which, if you remember is going through it's own financial difficulties since last year and is restructuring under bankruptcy protection
3) Metlife's purchase of AIG's foreign life insurance unit for $15B is being held up right now
4) B&N's board has rejected the bid from Ronald Burkle to own 37% of the company
[quote=ihatetaxes]5) Fairfax Financial Holdings, a Canadian insurer, said on Thursday that it has agreed to buy Zenith National Insurance for about $1.3BN.
6) Actavis will now rely entirely on its biggest creditor, Deutsche Bank, for funding the planned takeover of the world's fifth-largest generics maker Ratiopharm. U.S. drug major Pfizer, which until recently was also said to be eyeing Germany's Ratiopharm, appears to have abstained from the decisive round of bids. "The offer from Actavis is the highest so far and is close to 3 billion euros" ($4.12BN).
7)Terra Industries has made a surprising decision to sell itself to Yara International of Norway for $4.1 billion.
Thanks for the ultra-helpful update.
No need for sarcasm, I prefer outright insults
OK then, how about actually reading the articles you're summarizing. For instance:
http://online.wsj.com/article/SB100014240527487034448045750710541224232…Given that, I can't imagine what, if anything, is really going to change about the facade of New York (at least in the short-term).
Good point, I must have missed that
Haha! Sorry for the sarcasm. We will leave it to Edmundo to post random articles, and a recommended book list.
More like "Valuation Disconnect in the Air".
None of those deals have closed and only one is likely to close anytime soon (Walgreens).
I'd wait another 9-12 months for any serious pick-up in M&A. Financing markets are starting to soften a bit and sellers are overly Pollyanish at this point to accept a fair value.
Banana, do you know any other M&A deals likely to close? When do you think the M&A market will return?
I just hope duane reade keeps selling road beers.
How the hell did I get dragged into this???
Fuckers.
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