Aon and Willis Towers Watson are seeing remedies discussions with the European Commission (EC) wrapping up, as the package has drawn mixed reactions from the market, sources familiar with the matter told this news service.     The two insurance brokers submitted remedies to the EC on 9 April, prompting a market test…

FactSet Research Systems [NYSE:FDS] is among financial data and information services players expected to attract takeover interest from its wider peer group as the industry continues to consolidate, a source familiar with the matter and five sector advisors said.   At least one major player has FactSet on its radar as a potential target,…

Cable company WideOpenWest [NYSE:WOW] is exploring a sale of multiple clusters of its assets in the Midwest and the Southeast, four sources familiar with the matter said.    The Englewood, Colorado-based company, which is the sixth-largest operator of cable television and broadband internet networks across the country, has been broadly weighing various…

Lawyers see evidence of focus on new, non-merger-specific issues in FTC’s requests Instances of firms’ anticompetitive conduct could be raised during merger reviews Potential focus on labor/equity, race and firms’ engagement with the FDA The Federal Trade Commission’s requests for information from merging drugmakers have recently broadened in scope as…

In the wake of the Federal Trade Commission establishing a new international pharmaceutical merger working group, deal parties need to be prepared for a longer merger review process with a potential focus on a wider array of issues and heightened scrutiny of divestiture buyers, attorneys said.     However, the attorneys…

Babcock , the engineering services group, is sounding out buyer interest for its oil and gas aviation services business, according to several advisors familiar with the company.   Deliberations remain at an early stage, one of the advisors said. However, a sale is the most likely option, all of them noted.

Parties before SAMR typically await stamped approval document   Judge wants to determine parties’ understanding of ‘approval’   Delaware typically takes literal approach to interpreting contracts   Acacia Communications’ [NASDAQ:ACIA] dispute with Cisco Systems [NASDAQ:CSCO] over whether Acacia can terminate their deal will revolve around whether a notice from China’s…

Meredith [NYSE:MDP] took initial bids for a group of its broadcast television stations at the close of 2020, including expansive offers that could lead to a deal for its entire station portfolio, two sources familiar with the matter said.    This news service previously reported on 2 December, 2020 that…

GrandVision [AMS:GVNV] and EssilorLuxottica [EPA:EL] are working on finding an agreement to close their proposed tie-up, according to two sources familiar with the situation.    The intention is for the deal to go ahead, said the sources.    These discussions are taking place in parallel to the ongoing litigation process in Amsterdam, and are focused…

Arkema‘s sale process for its polymethyl methacrylate (PMMA) business Altuglas International appears to be fluid with bidders working off different timelines, sources familiar with the situation said.      The sale process is in the midst of a second round with most suitors – primarily financial sponsors – conducting due diligence off an…

Third parties have until late next week to provide feedback to the European Commission (EC) on the remedies offered by London Stock Exchange Group for its proposed acquisition of Refinitiv, according to two third-party sources.   Market testing has kicked off on the remedies which were filed with the EC yesterday (5 November), extending…

French energy giant Engie is holding conversations with potential advisors as it looks to embark on the long road to carving a New Solutions division, three sources familiar with the matter said.   The company has not sent out requests for proposals but is in discussions with a number of parties, one of them…

The Aermont Capital-led group of activist investors opposed to Unibail-Rodamco-Westfield’s proposed EUR 3.5bn rights issue would not settle for a smaller issuance, according to a source close to the situation.   URW, a developer and operator of commercial real estate, announced on 17 September that it intends to issue EUR 3.5bn in…

William Hill [LON:WMH] spoke to suitors besides Caesars Entertainment [NASDAQ:CZR] and Apollo Global Management [NYSE:APO] before agreeing a deal with the US gaming group, a source close to the situation and a source familiar said.       William Hill’s board announced Wednesday (30 September) that it had agreed to a 272p/share sale…

Osram minority investors could expect compensation to reach a “minimum of EUR 60-70 per share” if they are willing to challenge the Domination and Profit and Loss Transfer Agreement (DPLTA) compensation announced yesterday (22 September) by ams, according to Peter Dreier of Dreier Riedel Attorneys at Law.   Dreier, who…

Dutch geo-intelligence and asset integrity specialist Fugro [AMS:FUR] and KKR-backed subsea surface and equipment player Acteon have engaged in tie-up discussions, two sources familiar with the matter said.   KKR, which has tapped RBC as its adviser, is seeking a liquid platform from which to realise its investment in UK-based Acteon, while Fugro’s stressed balance sheet…

Elementis  could consider selling its chromium business to ease leverage pressure amid weakened demand and poor trading performance, according to several sector bankers.   The UK specialty chemicals company’s chromium division is the most logical disposal candidate as a value destroyer in an otherwise strong portfolio, one of the bankers said.

The number of failed deals in the European public market space has been low during 2020 even as the coronavirus pandemic has ravaged financial markets, according to analysis by Dealreporter.   That’s not to say 2020 has been plain sailing for merger arbitrage funds. Pre-definitive or ‘expected’ deals have remained…

It has been 3.8 years since China Oceanwide’s USD 2.7bn offer to acquire Genworth Financial became a binding transaction. The market is pricing in a close to zero chance that the long running attempt will complete. But the bidder is, perhaps somewhat gamely, pressing ahead with its efforts to obtain financing…

China Longyuan Power and its 58.44% owner CHN Energy are weighing potential deal options for the company, including a delisting from the HKEx and a relisting on the A-share stock market, or an A-H dual listing, according to a source familiar with the situation and a source close to the situation. …