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Elon Musk takes 9.2% stake in Twitter.
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HDFC, a housing financier based in Mumbai, agreed to merge with HDFC Bank, a commercial banking firm, in a $40bn deal.
"The proposed transaction ticks all the right boxes in terms of completion of product offerings, product leadership in home loans as with other retail assets products, distribution strength across the country and a customer base that can be leveraged to cross-sell a complete suite of financial products. It is value accretive for all the stakeholders of both the organisations, including shareholders, employees and customers," Sashi Jagdishan, HDFC Bank CEO & Managing Director.
HDFC is advised by Bansi S. Mehta & Co, Ambit, Arpwood Capital, Axis Capital, Bank of America, Credit Suisse, IIFL, JM Financial, Jefferies & Company, Kotak Mahindra Capital, Motilal, AZB & Partners, Argus Partners, Singhi Advisors and Nova Dhruva Capital.?Bank of America is advised by Sullivan & Cromwell. HDFC Bank is advised by Deloitte, Harsh Chandrakant Ruparelia, BNP Paribas, Citigroup, Edelweiss Capital, Goldman Sachs, HSBC, ICICI Bank, JP Morgan, Morgan Stanley, Nomura, Cravath Swaine & Moore and Wadia Ghandy.?
Shares of Telecom Italia, a telecommunication company, tumbled as KKR & Co plans to drop a $37bn takeover proposal if the ex-phone monopoly doesn't grant it the due diligence it's requested since last November.
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KKR is set to reiterate its interest in making a possible bid while making clear it wants to review the phone carrier's finances even more urgently than before, as market conditions have changed. Russia's invasion of Ukraine and recent downgrades to Telecom Italia's credit rating are among the reasons for the request,?Bloomberg?reported.?
KKR is advised by JP Morgan and Morgan Stanley. Debt financing is advised by Citigroup and JP Morgan. Telecom Italia is advised by Goldman Sachs, LionTree Advisors, Mediobanca and Vitale & Co.
Empower Retirement, a retirement plan recordkeeping financial holding company, completed the acquisition of a full-service retirement business of Prudential Financial, a global financial services provider, for $3.55bn.
"This transaction broadens our ability to serve the financial needs of working Americans, their advisors and employers. This transaction will create an even stronger service organization at Empower, expands our product offerings and the deepens the expertise of our talent pool," Edmund F. Murphy III, Empower President and CEO.
Empower was advised by Goldman Sachs, Rockefeller Capital Managemen and Eversheds Sutherland. Prudential was advised by Lazard and Debevoise & Plimpton.
Citizens Financial Group and Investors Bancorp announce the expected close date of the $3.5bn merger between the two companies is April 6, 2022, subject to the satisfaction or waiver of the remaining customary closing conditions set forth in the merger agreement.
The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency had both approved this merger.
Investors Bancorp is advised by Keefe Bruyette & Woods, Lazard, Piper Sandler and Luse Gorman. Citizens Financial is advised by Morgan Stanley and Sullivan & Cromwell. Morgan Stanley is advised by Debevoise & Plimpton.
?Elon Musk takes 9.2% stake in Twitter.
Elon Musk took a 9.2% stake in Twitter, an American microblogging and social networking service, to become the platform's biggest shareholder,?Bloomberg?reported.
Twitter shares surged as much as 26% after Musk's purchase, the stock's most significant intraday increase in more than four years. The stake is worth about $2.9bn, based on Friday's market close.