Opinion: The Best Buyer Is the One Already in the Room
Monday’s deal tape had a pattern. Nearly every buyer already owned a piece of what it was buying. Crédit Agricole holds 29.6% of Banco BPM and wants to reach about 45% by folding its Italian bank into the Milan lender, structured so that it never has to make a tender offer for the rest. Samsung […]
Berkshire Hires Banks for First Yen Bond Sale Since April
Berkshire Hathaway Inc. has hired Mizuho Securities and BofA Securities to arrange its first yen-denominated bond sale since April, returning to a market where it has borrowed about twice a year to fund its Japanese investments. The planned benchmark offering of senior unsecured notes is expected in the near future, subject to market conditions. Berkshire […]
Onodrim Raises $300 Million to Buy European Defense Suppliers
Onodrim Industries, an Amsterdam company that plans to buy and hold European defense and industrial suppliers, raised $300 million in a Series A round led by Lux Capital that values it at $1.3 billion, nine months after its seed financing. General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions also invested. The round […]
Anthropic Presses Ahead With IPO, Seeks Up to $100 Billion
Anthropic PBC plans to stick with its goal of listing before Thanksgiving despite last week’s slide in technology stocks, and aims to raise $80 billion to $100 billion at a valuation of $1.25 trillion to $1.75 trillion, according to people familiar with the plans. That target would make the Claude developer’s offering the largest initial […]
argenx to Buy Unnatural Products for Up to $1.15 Billion
argenx SE agreed to buy Unnatural Products Inc., a Santa Cruz, Calif., biotech that designs macrocyclic peptides, for $550 million in cash upfront and up to $595 million more if its programs reach development and regulatory milestones, putting the potential value of the deal at about $1.15 billion. The Amsterdam-based immunology company, whose main product […]
Samsung Fire Group to Buy Rest of Canopius for $2.2 Billion
Samsung Fire & Marine Insurance Co., South Korea’s largest property-casualty insurer, agreed to buy the rest of British specialty insurer Canopius with KKR & Co. and Korea Investment Corp. for about $2.2 billion, a deal that would give the Seoul company control of a Lloyd’s of London underwriter it has been building a position in […]
Strathcona to Buy Greenfire in Up to C$2.9 Billion Oil Sands Deal
Strathcona Resources Ltd. agreed on Sunday to buy Greenfire Resources Ltd. in a deal valued at about C$2.7 billion to C$2.9 billion including debt, combining two Alberta heavy oil and oil sands producers that share the same controlling investor. Greenfire shareholders can choose 0.25 Strathcona share for each Greenfire share, worth C$9.09 at Nov. 6 […]
Crédit Agricole Proposes Merging Its Italian Bank Into Banco BPM
Crédit Agricole SA proposed on Monday to merge its Italian banking arm into Banco BPM SpA, a deal that would create Italy’s third-largest banking group and lift the French lender’s stake in the Milan bank to about 45% from 29.6% without a full takeover bid. Banco BPM shares jumped more than 9% in early trading. […]
Mitsui Chemicals Agrees to Buy JSR for $11.6 Billion
Mitsui Chemicals Inc. agreed on Monday to buy chip-materials maker JSR Corp. from state-backed Japan Investment Corp. for 1.84 trillion yen, or about $11.6 billion including debt, the largest deal on record in Japan’s chemicals industry. The price is well above the roughly $8.2 billion figure that surfaced last week when Mitsui emerged as the […]
Fall Windstorm Knocks Out Power to Tens of Thousands
SEATTLE, Wash. — The first strong fall storm of the season swept across Western Washington on Saturday night, toppling trees and leaving well over 80,000 homes and businesses without electricity at its peak. Seattle City Light counted more than 46,000 of its customers in the dark around 9 p.m. Saturday, with trouble spots in West,