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GIP considers a $15bn stake sale in Vena Energy.??
Jim Ratcliffe leads a $6.1bn race to invest in Manchester United.
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An independent expert's report into a Brookfield Asset Management -led consortium's $9.7bn bid for Australia's Origin Energy has deemed the offer fair value, but the takeover is facing growing resistance from investors, Reuters reported.
Origin Energy said an independent evaluation by corporate advisory firm Grant Samuel of Australia's largest energy retailer's equity valued it at $5.4?- $6?per share. The range covers the offer price of about $5.6?apiece from the consortium's March bid, which consists of Australia dollars, US dollars and dividend components.
Origin Energy is advised by Barrenjoey , Jarden and Herbert Smith Freehills (led by Rebecca Maslen-Stannage ). Brookfield is advised by Citi , Allens and White & Case LLP (led by Christopher Flynn ). EIG is advised by J.P. Morgan and FGS Global (led by Brandon Messina and Kelly Kimberly ).
Kering , a global luxury group, completed the acquisition of Creed , a multi-national niche perfume house, from BlackRock , an asset management firm, for €3.5bn ($3.7bn).
“The acquisition of Creed represents Kering Beauté’s first strategic initiative, and demonstrates our commitment to developing a strong position in the luxury beauty segment. I am thrilled that today our stories and values come together around this spirit of family entrepreneurship and excellence to accelerate our journey in beauty, and I am delighted that the brand is joining Kering’s collection of luxury Houses,” Fran?ois-Henri Pinault, Kering Chairman and CEO.
Kering was advised by Centerview Partners and Sullivan & Cromwell LLP . Creed was advised by Jones Day (led by Julian Runnicles ). BlackRock was advised by J.P. Morgan and Clifford Chance (led by Christopher Sullivan and Shimin Lee ).
Thermo Fisher Scientific , a supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services, agreed to acquire Olink Proteomics , a company dedicated to accelerating proteomics together with the scientific community,?from Summa Equity , a private equity firm, for $3.1bn.?
“The acquisition of Olink underscores the profound impact that proteomics is having as our customers continue to advance life science research and precision medicine. Olink’s proven and transformative innovation is highly complementary to our leading mass spectrometry and life sciences platforms. Our company is uniquely positioned to bring this technology to customers enabling them to meaningfully accelerate discovery and scientific breakthroughs. We look forward to welcoming Olink’s colleagues to Thermo Fisher,” Marc N. Casper, Thermo Fisher Chairman, President and CEO.
Thermo Fisher is advised by Cravath, Swaine & Moore LLP and Vinge . Olink is advised by Goldman Sachs , J.P. Morgan , UBS and Baker McKenzie .?Summa Equity is advised by Ropes & Gray LLP (led by Suni Sreepada ).
GIP considers a?$15bn stake sale in Vena Energy. (FS)
Global Infrastructure Partners is exploring selling a stake in Vena Energy and seeking a valuation of about $15bn for one of the largest renewable energy companies in Asia-Pacific.
The infrastructure fund has sounded out a group of financial advisers on a potential sale of as much as a 51% stake in Vena Energy. The asset could attract companies in the industry and conglomerates with an interest in boosting their green investments.
A stake sale could add to a wave of energy deals as global investors and companies seek to meet their emission-reduction targets. Considerations are at an early stage and GIP could ultimately decide against a deal, Bloomberg reported.
Jim Ratcliffe leads a $6.1bn race to invest in Manchester United. (FS)
Jim Ratcliffe is emerging as the frontrunner to buy into English football giants Manchester United , with the British billionaire's recently revised offer giving him the edge over a rival proposal from Qatari investors.
The chairman of chemicals company INEOS ENTERPRISES GROUP LIMITED is in talks with the club's US owners, the Glazer family, and their advisers over the structure of a deal. Under terms being discussed, Ratcliffe could make an offer for some of the shares held by both the Glazers and minority investors in Manchester United. Ratcliffe may end up with an initial stake of roughly 25% in Manchester United in a deal that could value the club at more than $6.1bn.
The Glazer family currently views Ratcliffe's bid for a minority stake as more attractive than an alternative Qatari offer for the whole club. Manchester United's board is set to discuss the latest proposal at a meeting as soon as the next few days. Deliberations are ongoing and there's no certainty they'll result in a transaction, Bloomberg reported.
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