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Mediterranean Shipping Company to acquire a 49.9% stake in Hamburger Hafen und Logistik for €1.26bn.
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US oil and gas producer CrownRock to explore $10bn-plus sale. (FS)
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Cipla founding family’s stake sale in jeopardy over $13bn valuation target.
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Public Storage , an American international self storage company headquartered in Glendale, California, completed the acquisition of Simply Self Storage , a privately owned self-storage company in the United States, from BREIT, a real estate investment trust company, for $2.2bn.
"We are pleased to welcome Simply's team, customers, and third-party management partners to Public Storage's industry-leading brand and platform. This acquisition reflects the continued execution of our multi-factor external growth platform, which includes acquisitions, development, redevelopment, expansion, and third-party management. We are pleased to complete this important transaction with Blackstone, which further demonstrates our position as an acquirer of choice in the industry. Blackstone has done a tremendous job of growing and improving the quality and operations of the Simply portfolio over the past few years," Joe Russell, Public Storage CEO.
Public Storage was advised by Eastdil Secured , 霍金路伟 (led by Michael McTiernan and Cristina Arumi), and Wachtell, Lipton, Rosen & Katz (led by Adam Emmerich and Viktor Sapezhnikov). BREIT was advised by BMO Capital Markets , The Newmark Group , 三井住友银行 , 花旗 , 富国银行 , Simpson Thacher & Bartlett LLP (led by Matthew Rogers), and Joele Frank (led by Jonathan Keehner).
The founder of UK life sciences company Abcam plans to vote against a proposed $5.7bn acquisition by US group Danaher Corporation , pushing instead to replace the board and take back the reins as chief executive, FT?reported.?
Jonathan Milner, who has a 6.1% stake in the Cambridge-based company, argues the $24-a-share deal materially undervalues Abcam, which creates custom antibodies, among other products, for scientists to use in research.
Abcam is advised by Lazard , 摩根士丹利 , Latham & Watkins (led by Robbie McLaren, Richard Butterwick, Anna Ngo, and Jennifer Gascoyne), and FTI Consulting . Financial advisers are advised by Davis Polk & Wardwell LLP (led by Phillip R. Mills). Danaher is advised by Barclays , Jefferies , and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Thomas Greenberg).
Mediterranean Shipping Company to acquire a 49.9% stake in Hamburger Hafen und Logistik for €1.26bn.
MSC Mediterranean Shipping Company , a container shipping company, agreed to acquire a 49.9% stake in HHLA Hamburger Hafen und Logistik AG , a logistics and transportation company, for €1.26bn ($1.35bn).
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Nikolas Mauder at Kepler Cheuvreux said there were concerns about a "wall" of capital expenditure needed at HHLA, which like other German ports is facing major challenges amid weak foreign demand and fierce competition.
US oil and gas producer CrownRock to explore $10bn-plus sale. (FS)
CrownRock Minerals, LP is preparing to explore a sale that could value it at well over $10bn including debt, in what could be the largest deal for a US oil and gas producer going back at least three years.
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The private equity-backed company, which is led by Texas billionaire businessman Timothy Dunn, has initiated discussions with investment banks about hiring advisers to run a sale process that will kick off by early 2024, Reuters reported.
Cipla founding family’s stake sale in jeopardy over $13bn valuation target.
The sale of a stake in Cipla is in jeopardy as potential buyers have balked at the $13.1bn?valuation members of the founding family are targeting for the Indian firm in a deal.?
Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward, as the founders are demanding about $359 per share. The price represents a premium of about 10% over September 14?close, Bloomberg reported.
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