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Company boards waffle over buyout bids in $40bn deal wave. (Financial Sponsors)
RMZ to invest $7bn to expand real estate business.
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Colt CZ Group , a holding company for the Czech firearms and related industries, offered to acquire Vista Outdoor Inc. , a designer, manufacturer, and marketer of outdoor sports and recreation products, for $1.74bn.
The deal comes amid Vista's planned sale of its sporting products business to privately held Czech defence and civil manufacturing company Czechoslovak Group, announced in October in a $1.9bn deal.
Vista Outdoor is advised by Moelis & Company , 摩根士丹利 , Cravath, Swaine & Moore LLP and Gibson Dunn .?
勃林格殷格翰 , an animal health care services provider, agreed to acquire T3 Pharmaceuticals AG , a clinical stage biotech company, for $509m.
“The acquisition of T3 Pharma will significantly expand our immuno-oncology pipeline portfolio and is synergistic with many of our existing R&D programs. This will bring us closer to achieving our vision of driving a paradigm shift in cancer care treatments,” Michel Pairet, Boehringer Ingelheim Member of the Board of Managing Directors.
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FLJ, an apartment rental platform, agreed to acquire Alpha Mind, an insurance company, for $180m.
“We are pleased to welcome Alpha Mind and its team. We are optimistic about the quality of Alpha Mind’s service offerings. We are confident that we can work with the Alpha Mind team to further strengthen its market position in the insurance technology and insurance agency service space,” Chengcai Qu, FLJ CEO.
FLJ is advised by Christensen IR (led by René Vanguestaine ).
Company boards waffle over buyout bids in $40bn deal wave. (FS)
A wave of dealmaking has come to Europe, and corporate boards aren't sure what to do about it. Listed European companies have received about $40bn in takeover bids over the past three months, as everyone from Blackstone to Cinven hunts for bargains in the region's depressed stock markets, Bloomberg reported.
In several cases, the target's directors can't decide whether minority shareholders are getting a good deal. Adevinta , SYNLAB Laboratory Services boards say offers are below long-term value. Directors refrain from making recommendations to shareholders.?
RMZ to invest $7bn to expand real estate business.
Indian office landlord RMZ said on November 22 that it will invest $7bn to diversify into four new segments in a bid to more than double the value of its rent-yielding real estate assets to $40bn by 2029, Reuters reported.
The privately-held firm, whose rent-yielding assets are currently valued at $15bn, will fund the investment through a combination of internal accruals and funds raised from existing and new investors as it expands into ultra-luxury residential living, industrial and logistics, hospitality, and mixed-use sectors. The Bengaluru-based company will invest 60% of the capital in expanding office and mixed-use properties.
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RMZ to invest $7bn to expand real estate business.