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Vodafone is in advanced talks to finalise $12.7bn Vantage stake sale by November 15.
Rupert Murdoch is considering a $26.15bn merger of Fox and News.Add “You can access today’s complete newsletter?here.
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Kroger , a retail company, agreed to acquire Albertsons , a grocery company, for $24.6bn.
"Albertsons brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores. This merger advances our commitment to build a more equitable and sustainable food system by expanding our footprint into new geographies to serve more of America with fresh and affordable food and accelerates our position as a more compelling alternative to larger and non-union competitors. As a combined entity, we will be better positioned to advance Kroger's successful go-to-market strategy by providing an incredible seamless shopping experience, expanding Our Brands portfolio, and delivering personalized value and savings. We'll also be able to further enhance technology and innovation, promote healthier lifestyles, extend our health care and pharmacy network and grow our alternative profit businesses. We believe this transaction will lead to faster and more profitable growth and generate greater returns for our shareholders,"? Rodney McMullen , Kroger Chairman and CEO.
Albertsons (led by Vivek Sankaran and Sharon McCollam) is advised by 瑞信 , 高盛 , Debevoise & Plimpton (led by Ted Hassi ), Jenner & Block , Wachtell, Lipton, Rosen & Katz (led by Adam Emmerich and Zachary Podolsky) and White & Case LLP . Financial advisors are advised by Davis Polk & Wardwell LLP (led by Phillip Mills and Cheryl Chan ). Kroger (led by Rodney McMullen and Rodney McMullen ) is advised by 花旗 , 富国银行 , Arnold & Porter and Weil, Gotshal & Manges LLP .
Avalara , a provider of tax compliance automation for businesses of all sizes, announced that its shareholders voted to approve the pending $8.4bn transaction with Vista Equity Partners , a global investment firm.
Approximately 80% of outstanding shares were represented at the meeting with 84% of those shares voting in favor of the proposed merger resulting in 66% of total outstanding shares in favor of the merger. The transaction is expected to close on October 19, 2022.
Avalara (led by Scott McFarlane ) is advised by 高盛 , Perkins Coie and Simpson Thacher & Bartlett LLP (led by Mario Ponce). 高盛 is advised by Cravath, Swaine & Moore LLP (led by Gregory Ligelis and Keith Hallam ). Mubadala is advised by White & Case LLP (led by Steven Worthington ). Vista Equity Partners (led by Robert F. Smith ) is advised by 美国银行 and Kirkland & Ellis (led by Sarkis Jebejian , Jonathan Davis and Joshua Ayal ). Debt financing is provided by Apollo Global Management, Inc. , Blue Owl Capital and HPS Investment Partners, LLC .
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US Bancorp, a parent company of US Bank National Association, announced that it has received all required US regulatory approvals to complete the $8bn acquisition of MUFG Union Bank’s core regional banking franchise from MUFG , a financial services group.
“We are pleased to have received US regulatory approval. We believe that this acquisition is good for customers, good for the communities that MUFG Union Bank has served and good for employees. It allows us to make investments to serve customers and enhance competition on the West Coast. We share many common values with MUFG Union Bank and we look forward to having their employees and customers join the US Bancorp family,” Andy Cecere, U.S. Bank Chairman, President and CEO.
US Bancorp (led by Andy Cecere) is advised by 高盛 , Simpson Thacher & Bartlett LLP (led by Ravi Purushotham ) and 博然思维集团 (led by Jonathan Doorley ). 高盛 is advised by Fried Frank (led by Roy Tannenbaum ). MUFG (led by Hironori Kamezawa) is advised by 美国银行 (led by Gary Howe and Tamao Sasada), 花旗 , Sullivan & Cromwell LLP (led by H. Rodgin Cohen and Donald Toumey) and Sard Verbinnen & Co (led by Stephen Pettibone and Jim Barron ).
Vodafone is in advanced talks to finalise $12.7bn Vantage stake sale by November 15.
Vodafone is speeding up talks with a handful of financial investors to sell a slice of its wireless towers unit as it hopes to agree a deal by November 15 to coincide with its half-year earnings.
The British telecoms group is evaluating proposals to either halve its nearly 82% holding in Frankfurt-listed Vantage Towers or just sell 25% of it in a bid to free up cash and respond to activist pressure to shake up the company and improve profitability.
Shares in Vantage Towers - which has a market value of $12.7bn - have dropped 18.3% since the start of the year. That makes it an attractive proposition for bidders - including a consortium of investment firms KKR and Global Infrastructure Partners (GIP) - to invest in a recession-proof business at a discount,?Reuters?reported.
Rupert Murdoch is considering a $26.15bn merger of Fox and News.
Rupert Murdoch has started a process that could reunite his media empire, Fox News TV , saying they would consider combining at his behest, nearly a decade after the companies split. Both have formed special committees to review proposals of the $26.15bn potential combination.
If a deal goes through, the combination will allow Murdoch greater control over his media assets and help the companies trim costs. Media companies are fighting decades-low growth in advertising sales and for users’ attention against deep-pocketed social media and content websites.
Reuniting Fox News TV would give the combined companies greater scale to compete, and complement their assets. The combined companies would have around $24bn in revenue,?CNBC?reported.
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