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Apollo closes on $2.4bn for Inaugural Accord+ Fund. (FS)
Masayoshi Son owes $4.7bn to SoftBank after stock crash. (FS)
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Britain's competition regulator said it was looking into whether US chipmaker 博通 's $71.6bn acquisition of cloud computing company VMware may substantially lessen competition.
The Broadcom-VMware deal, announced in May, is the second biggest globally so far this year and marks Broadcom's attempt to diversify its business into enterprise software. The companies are also seeking European Union antitrust approval.
VMware is advised by 高盛 , J.P. 摩根 , Gibson Dunn (led by? Barbara Becker ?and? Andrew Kaplan ) and FGS Global (led by? Paul Kranhold ). Financial advisors are advised by Debevoise & Plimpton (led by? Jennifer Chu ?and? William Regner ) and Sullivan & Cromwell LLP (led by? Alison Ressler ?and? John Savva ). Broadcom is advised by 美国银行 , Barclays , 花旗 , 瑞信 , 摩根士丹利 , 富国银行 , Cleary Gottlieb Steen & Hamilton LLP , 美迈斯 (led by? Adit Khorana ), Wachtell, Lipton, Rosen & Katz (led by? David Karp ,? Ron Chen ?and? Viktor Sapezhnikov ), 博然思维集团 and Joele Frank (led by? Joele Frank ). Financial advisors are advised by Cooley LLP (led by? Ben Beerle ). Silver Lake is advised by Simpson Thacher & Bartlett LLP (led by? Atif Azher ).
Smith Financial, a family holding company of Stephen Smith, agreed to acquire a 90.9% stake in Home Capital Group Inc. , a federally regulated trust company offering residential and non-residential mortgage lending, for $1.55bn.
“With its talented workforce, diversified presence across Canada, trusted positions as a lender and deposit-taker and 36-year operating history, Home Capital is a strategic asset. Having followed the development of the business for three decades, I can attest to Home Capital’s strong partnerships with mortgage brokers and great customer relationships. I’m also impressed with the direction the Company has taken to build quality assets and enduring advantages in its chosen industry segments. I look forward to owning another business with a bright future," Stephen Smith, Smith Financial Founder.
Home Capitali is advised by BMO Capital Markets , 德勤 , TD and Torys LLP . Smith Financial is advised by RBC Capital Markets , Stikeman Elliott LLP Elliott and Fundamental Creative (led by? Ernie Stapleton ).
默克 , a science and technology company, agreed to acquire Imago BioSciences, Inc. , a clinical-stage biopharmaceutical company, for $1.35bn.
“We continue to invest in our pipeline with a focus on applying our unique capabilities to unlock the value of breakthrough science for the patients we serve. This acquisition of Imago augments our pipeline and strengthens our presence in the growing field of hematology," Robert M. Davis, Merck President and CEO.
Imago BioSciences is advised by Centerview Partners (led by? E. Eric Tokat ), Latham & Watkins (led by? Luke Bergstrom ,? Ben Potter and? Max Schleusener ), Canale Communications (led by? Ian Stone ) and Gilmartin Group LLC (led by? Laurence Watts MA, IRC ). Merck is advised by 摩根士丹利 and Gibson Dunn .
Apollo closes on $2.4bn for Inaugural Accord+ Fund. (FS)
Apollo Global Management, Inc. closed on $2.4bn in commitments for the Apollo Accord+ Fund, its commingled multi-asset opportunistic credit offering. These new commitments bring total fundraising for the overarching Accord strategy to approximately $11bn since inception, of which approximately $4.5bn was raised in the past 12 months.
"Accord+ is designed to provide investors with an efficient, streamlined offering that harnesses the depth and breadth of expertise resident within Apollo's Credit platform. The fund builds upon our significant experience and established track record in managing our Accord strategy and other related mandates," Chris Lahoud and Tristram Leach, Apollo Partners.
Masayoshi Son owes $4.7bn to SoftBank after stock crash. (FS)
Masayoshi Son personally owes SoftBank Group Corp. close to $5bn because of growing losses on the Japanese conglomerate’s technology bets, which have also rendered the value of his stake in the group’s second Vision Fund worthless,?DealStreetAsia?reported.
The billionaire’s ballooning personal liabilities, discovered through a Financial Times analysis of SoftBank’s recent filings, comes as the world’s biggest tech investor was hammered by plunging tech stocks and valuations in private companies over the past year.
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