Mergers & Acquisitions

Mergers & Acquisitions

Mergers and acquisitions (M&A) is a general term that refers to the consolidation of companies or assets. M&A can include a number of different transactions, such as mergers, acquisitions, consolidations, tender offers, purchase of assets and management acquisitions. In all cases, two companies are involved. The term M&A also refers to the department at financial institutions that deals with mergers and acquisitions.

Merger In a merger, the boards of directors for two companies approve the combination and seek shareholders’ approval. After the merger, the acquired company ceases to exist and becomes part of the acquiring company. For example, in 2007 a merger deal occurred between Digital Computers and Compaq whereby Compaq absorbed Digital Computers.

Acquisition: In a simple acquisition, the acquiring company obtains the majority stake in the acquired firm, which does not change its name or legal structure. An example of this transaction is Manulife Financial Corporation’s 2004 acquisition of John Hancock Financial Services, where both companies preserved their names and organizational structures.

Trump regulators signal new antitrust approach with AT&T merger

The Trump administration’s antitrust enforcers have fired a warning shot to AT&T and other companies hoping to pull off massive mergers. Makan Delrahim, the Justice Department’s antitrust chief, is reportedly expected to take AT&T to court over its proposed $85 billion deal with Time Warner.  Earlier this month, in an unusually public spat, it was reported that Department of Justice (DOJ) officials had demanded that AT&T sell off CNN’s parent company, Turner Broadcasting, from Time Warner if it wanted the…

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CFO jobs: Chief financial officers are taking over as CEOs

MUMBAI: A few years ago, when an organisation wanted to appoint a new chief executive, the search would mostly centre on marketing or sales head. But today, chief financial officers (CFOs) are the most sought-after candidates to occupy the corner room, thanks to changed business environment and evolved role of chief financial officers. The number of CFOs taking on the mantle of CEO has increased 20% over the last three years, shows a survey by global executive search firm Russell…

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A $3 billion marijuana merger could soon shake up the entire industry

Anthony Bolante/Reuters For years, Canopy Growth has had a comfy seat as the largest marijuana stock. Aurora Cannabis has offered to buy rival CanniMed Therapeutics, which could create a $3 billion company. The deal could make the final company attractive to a bigger, non-marijuana company looking to get into the space. Look out, Canopy Growth Corporation. Your reign as the pure-play marijuana stock with the highest market cap might not last for long. On Tuesday, Aurora Cannabis announced that it had…

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Investors return to M&G Optimal Income as AUM tops £20bn again; Group ‘significantly’ increases seeding for new funds

M&G’s Richard Woolnough has seen a reversal in outflows on his Optimal Income fund recorded over recent years, with AUM reaching above £20bn for the first time since August 2015. The strategic bond fund previously reached a peak in AUM of £24.4bn in late 2014, but throughout 2015 saw significant outflows, with the group highlighting weak investor sentiment towards fixed income at the time, and by February 2016 AUM was at just under £15bn, according to FE. However, appetite for…

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First Horizon National : and Capital Bank Financial Announce Election Deadline for Capital Bank Financial Stockholders to Elect Merger Consideration and Expected Closing Date

(GlobeNewswire) – First Horizon National Corporation (NYSE:FHN) (First Horizon) and Capital Bank Financial Corp. (NASDAQ:CBF) (Capital Bank Financial) today announced that the Election Deadline (as defined in the election materials previously provided to Capital Bank Financial stockholders of record) is 5:00 p.m. CST on November 28, 2017. The Election Deadline is based on the parties current expectation that the merger transaction will be completed on November 30, 2017. However, the completion of the transaction remains subject to the satisfaction or…

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Broadcom’s and Qualcomm’s Take on the Offer Price

Qualcomm Rejects Broadcom’s Takeover Bid—Now What? PART 4 OF 15 By Paige Tanner  | Nov 17, 2017 5:25 pm EST How Qualcomm views Broadcom’s offer?  Qualcomm’s (QCOM) shareholders appear to be interested in Broadcom’s (AVGO) bid offer, though the former company’s board has unanimously rejected the latter company’s first acquisition bid. In a press release, Qualcomm CEO (chief executive officer) Steve Mollenkopf stated that the $70 offer doesn’t price in the uncertainty around the regulatory approval for the deal. Paul Jacobs highlighted…

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Finance: Real estate M&A has eclipsed the record level set on the eve of the financial crisis — and it’s to do with the retail apocalypse (GGP) – Finance

It’s been a record year for real estate mergers and acquisitions, with $387 billion in announced transactions worldwide. Part of the explanation rests with Real Estate Investment Trusts (REITs) that own and operate shopping malls, which have been battered amid the ongoing retail apocalypse but now may be undervalued. Global logistics businesses, which need warehouses to house and distribute product, are also driving the trend. Mergers and acquisitions of real estate companies have hit record levels in 2017. Through November…

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Royale Energy, Inc. Announces Shareholder Approval of the Merger with Matrix Oil Management Corporation – Mergers & Acquisitions News Today

SAN DIEGO, Nov. 17, 2017 (GLOBE NEWSWIRE) — Royale Energy, Inc. (OTCQB:ROYL) (the “Company” or “Royale”) today announced the results of its annual meeting of shareholders. At the meeting, holders of Royale’s common stock voted to approve the following actions: /EIN News/ — (1)  adopting the Amended and Restated Agreement and Plan of Merger (the “Merger Agreement”) dated effective as of December 31, 2016, by and among Royale, Royale Energy Holdings, Inc., a Delaware corporation (“Holdings”), Royale Merger Sub, Inc.,…

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FCC repeals 1975 law blocking merger of broadcast stations, newspapers

NEW YORK (AP) — Federal regulators have weakened rules meant to support independent local media. Now, one company can own newspapers and broadcast stations in one market, undoing a ban in place since 1975. Thursday’s decision by the Federal Communications Commission also makes it easier for one company to own two broadcast TV stations in one market and coordinate operations with stations owned by others. Although the changes won’t affect AT&T’s pending bid for Time Warner and its cable channels,…

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Overnight Tech: FCC loosens media ownership rules | AT&T hires former Trump lawyer to defend merger | Tech experts blast Trump vetting proposal

FCC EASES MEDIA OWNERSHIP RESTRICTIONS: The Federal Communications Commission (FCC) on Thursday voted to roll back restrictions on media ownership, a proposal that critics say is helping to pave the way for a controversial merger and further consolidation in the industry. The commission’s party-line vote clears the way for the common ownership of newspapers and broadcast stations in the same market. The proposal also eliminates a rule that prohibited television stations in the same market from merging if such a deal…

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Battle lines form for epic antitrust case over AT&T-Time Warner merger

Analysis: A lawsuit by the Justice Department to block the merger would mark a radical departure from decades of antitrust-enforcement policy. If the government goes to court to block the merger of AT&T and Time Warner, as seems increasingly likely, it may well be the antitrust case of the decade, even without the claims of presidential meddling that have already engulfed the deal in partisan controversy. A lawsuit by the Justice Department, along with its earlier, widely reported demands that…

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BHP facing uncertain future as shareholders push for change

Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at BHP since August last year and, in April this year, made public its demands for strategy changes, arguing that nearly $40-billion in shareholder value had been lost by the miner. The fund manager, which holds a…

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DOJ antitrust chief’s speech raises questions about fate of proposed AT&T-Time Warner merger

This combination of images shows an AT&T cellphone store (top) in Springfield, Va., in 2014, and the Time Warner company logo on the front of the headquarters building in New York in 2003. (Saul Loeb and Stan Honda/AFP/Getty Images) The head of the Department of Justice’s antitrust division made comments Thursday that could bode poorly for AT&T’s bid to merge with Time Warner. Addressing the American Bar Association at the National Press Club, Makan Delrahim spoke critically of previous attempts to impose…

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Time’s Dilemma: Go It Alone or Accept a Koch-Backed Bid?: Gadfly

By Tara Lachapelle | Bloomberg By Tara Lachapelle | Bloomberg November 16 at 2:05 PM And there it is. Time Inc. has resisted a takeover so long that we’ve now entered the Faustian stage, where a billionaire — or rather pair of them — swoops in carrying all the money a struggling publisher could dream of.  It’s reported that brothers Charles and David Koch — the deep-pocketed benefactors of a highly influential network pushing conservative causes behind the scenes of the…

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Ex-Trump lawyer to defend AT&T-Time Warner merger

WASHINGTON (Reuters) – AT&T Inc (T.N) said it had hired media lawyer Daniel Petrocelli, whose clients have included U.S. President Donald Trump, to defend its acquisition of media and entertainment company Time Warner Inc (TWX.N) if the government sues to block the deal. A pedestrian walks past an AT&T store in Boston, Massachusetts, U.S., April 26, 2017. REUTERS/Brian Snyder Petrocelli, a partner at O‘Melveny & Myers in Los Angeles, will be lead trial counsel for both companies if the case…

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Merger hearing held at Colliers | News, Sports, Jobs

COLLIERS — Turnout was high for the latest in a series of hearings held by the Brooke County school board on the proposed merger of three primary schools into four existing ones. The cafeteria/gym of Colliers Primary School was nearly filled Tuesday with parents and other community members, and the board heard from more than 20 area residents, many of whom questioned the decision to close the school in the same year it has received national and state honors for…

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