MergerLinks Daily Review
MergerLinks
Join a community of 250,000+ M&A professionals. Expand your network and discover new business opportunities.
Welcome to MergerLinks Daily Review.?Sign up here?to get the full round up of your daily dose of blue-chip M&A news directly to your inbox.
KKR closes sixth European private equity fund at $8bn.
You can access today’s complete newsletter?here.
Scroll down for more…
Glencore is still pursuing its $23bn proposal to buy Teck Resources Limited and seeking talks with the Canadian company's management, undeterred by firm rejections from both Teck's board and controlling shareholder.
Glencore has proposed an ambitious multi-stage deal to acquire Teck for shares and then spin off both firms' coal businesses into a new company. The plan would give Glencore control of Teck's lucrative copper mines at a time when the world is bracing for a shortage, and allow it to get out of thermal coal — the most polluting fuel.?The Canadian miner said it rejected an unsolicited $23bn proposal from Glencore and will forge ahead with an April 26 shareholder vote on separating its metals and coal divisions. If investors approve, the split is expected to happen by the end of May, with the base metals producer being renamed Teck Metals.?
Teck Resources is advised by Ardea Partners , BMO Capital Markets , Barclays , 高盛 , Origin Merchant Partners , Blake, Cassels & Graydon LLP , Paul, Weiss, Rifkind, Wharton & Garrison LLP , and Sullivan & Cromwell LLP (led by Sergio J. Galvis and Lauren Boehmke ).
Rogers Communications, a Canadian communications and media company, completed the acquisition of Shaw Communications, a Canadian telecommunications company which provides telephone, Internet, television, and mobile services, for $15.5bn.
"This is a momentous day for our customers, who will benefit from the latest services and network technology, and for our teams, who have worked so hard to get us here. We're proud to bring together these two iconic companies to deliver more value, more connectivity, and more innovation for Canadians," Tony Staffieri, Rogers President and CEO.
Shaw Communications was advised by CIBC , TD Securities , Burnet, Duckworth & Palmer LLP (led by Grant Zawalsky ), Davies Ward Phillips & Vineberg LLP (led by Vince Mercier and Brett Seifred ), Dentons (led by Bill Jenkins and? Bill Gilliland, LLB, ICD.D ), and Wachtell, Lipton, Rosen & Katz (led by Adam Emmerich and Mark Stagliano ). Financial advisors were advised by Osler, Hoskin & Harcourt LLP . Rogers Communications was advised by 美国银行 , Barclays , Cravath, Swaine & Moore LLP (led by Erik Tavzel),? Goodmans LLP (led by Dale H. Lastman, C.M., O.Ont. ), and Torys LLP (led by Richard Willoughby ). Financial advisors were advised by Davis Polk & Wardwell LLP , Latham & Watkins and McCarthy Tétrault (led by Richard Higa ).
Australia’s competition regulator said it was unconvinced a planned $3.3bn buyout by Australia and New Zealand Banking Group of a smaller rival would bring public benefits, in a blow to one of the year’s biggest deals, DealStreetAsia reported.
The Australian Competition and Consumer Commission said in a “statement of preliminary views” that ANZ had so far failed to prove it and the insurer whose banking unit it plans to buy, Suncorp Group, would both end up stronger.
Suncorp Bank is advised by Herbert Smith Freehills (led by Matthew FitzGerald ). ANZ is advised by Ashurst (led by John Brewster and Elspeth Arnold ). Suncorp Group is advised by SEC Newgate CEE .
欧莱雅 , a personal care company, agreed to acquire Aesop , a luxury cosmetics brand, from Natura &Co , a multi-brand cosmetics group, for $2.5bn.
"I am very excited to welcome Aesop and its teams to the L'Oréal Groupe family. Aesop is the epitome of avant-garde beauty, whose products are not only made with great care and exceptional attention to detail; they are a superb combination of urbanity, hedonism and undeniable luxury. Aesop taps into all of today's ascending currents and L'Oréal will contribute to unleash its massive growth potential, notably in China and Travel retail," Nicolas Hieronimus, L'Oréal CEO.
Natura &Co is advised by 美国银行 , 摩根士丹利 , Davis Polk & Wardwell LLP and 博然思维集团 .
KKR closes sixth European private equity fund at $8bn. (FS)
KKR , a leading global investment firm, today announced the final closing of European Fund VI. At $8bn, it is KKR’s largest European private equity fund to date, following the $6.6bn fund in 2019, inclusive of the GP commitment. The new fund will be focused on private equity investments primarily in the developed economies of Western Europe.
“KKR has been investing in Europe for nearly twenty-five years and we believe the opportunity today has never been greater. We see enormous potential for transformational investment behind structural trends that are reshaping the European economy, including digitalization, healthcare and sustainability,” Philipp Freise, KKR European Private Equity Co-Head.
Interested to find more??Sign up here?to get full round up of your daily dose of blue-chip M&A news directly to your inbox.
You can access today’s complete newsletter here.