Acquisitions of unicorns, i.e. young tech companies valued at over $1 billion, were a hallmark of 2014. These acquisitions continue to be surprising both in their enormity and frequency. For example, Facebook Inc. acquired the messaging group WhatsApp Inc. for a whopping $19 billion, and then also acquired virtual reality company Oculus VR Inc. for […]
New Zealand Approves Staples-Office Depot Merger, Challenges Remain at Home
On February 4, 2015, Staples, Inc. announced its global acquisition of Office Depot, Inc. Staples’ Chairman and CEO, Ron Sargent, announced: “We expect to recognize at least $1 billion of synergies as we aggressively reduce global expenses and optimize our retail footprint. These savings will dramatically accelerate our strategic reinvention which is focused on driving […]
Madoff’s Accountant Avoids a Prison Term
Accountant, David G. Friehling admitted in federal court that he had produced the rubber-stamp audits that allowed Mr. Madoff to conceal his enormous $65 billion Ponzi scheme from regulators for more than two decades. Federal Judge Laura Taylor Swain in Manhattan sentenced Mr. Friehling to only a year of home detention and an additional year […]
Pending Regulatory Approval Charter’s Acquisition of Time Warner Positions the Company for the Future
Charter Communications, a cable and telecommunications company, recently announced that it would acquire Time Warner Cable in a $55 billion deal. Along with Time Warner, Charter also plans to acquire Bright House Networks in an additional $10 billion deal. While Bright House is a much smaller provider, Charter and Time Warner are the second and […]
Shell’s Purchase of BG Will Test the Transparency and Assertiveness of China’s Young Antitrust Regime
Shell announced a $70 billion acquisition of Britain’s BG group. But it is liquefied natural gas (“LNG”)—not oil—that drove the historic deal. The two energy giants will surpass ExxonMobil as the biggest player in this volatile and niche market.
The Oil Merger of the Decade: Shell to Buy BG Group
According to a statement by BG Group, Royal Dutch Shell is considering a “super-merger” with BG to expand its gas production, which would mark the biggest merger of the year.
Cryan, Former Tullet Prebon Broker Pleads Not Guilty to Manipulating Libor in the UK
Noel Cryan, an ex-broker of the Tullet Prebon Group, a British brokerage firm, entered his plea at Southwark Crown Court in London, pleading not guilty against criminal charges for conspiring to manipulate Libor.
FedEx Looks to Become Major European Player with TNT Express Acquisition
FedEx has agreed to acquire European shipping and delivery competitor TNT Express (TNT). The $4.8 billion deal must still receive approval from European regulators, a status that UPS failed to achieve when its proposed acquisition of TNT was blocked by these same regulators in 2013. UPS was unable to satisfy regulator’s antitrust concerns because of […]
Life Time Fitness Acquired in $4 Billion Buyout
Continuing their leveraged buyout partnership, private equity firms Leonard Green & Partners and TPG Capital recently announced an agreement to buy gym operator Life Time Fitness for about $4 billion. The two firms previously worked together to acquire retailer J.Crew in 2010 and Petco in 2006.
A New Leader in Combatting C.N.S. Disorders
On Monday, March 30, Teva Pharmaceutical Industries Ltd. announced that it would be acquiring Auspex Pharmaceuticals for $3.2 billion. As a result of the acquisition, shares of Auspex climbed from $29.60 (41.7 percent) to $100.51 while Teva shares increased by $1.67 (2.7 percent) to $63.65. This major increase in the value of the shares for […]