M&A / Deal

✒ Becoming the one-stop shop for hospital equipment.

✒ Paying 10x ebitda for long-term, low-risk cash flows. Buffett described the energy business as “not a way to get real rich” but “a way to stay real rich”.

✒ The company needs a makeover.

✒ The reason Sycamore used was a breach of “ordinary course covenant”.

✒ Acquisitions in weak economies can create value: a company can take advantage of the environment to execute its strategic acquisition agenda to position the business to exeeed industry average growth once the economy recovers and accelerates out of the recession.

✒ Citing its fiduciary duty to its own shareholders, SoftBank now says such a deal would be “irresponsible.”

✒ The end to a bumpy multi-month saga.

✒ Acquiring a pipeline of emerging wealth – first Solium, then ETrade.

✒ Started as a ride-hailing service, Grab has officially moved into wealth management.

✒ Singtel has the customer base; Grab has the innovation.

✒ Honey tracks prices and save consumers money by automatically applying coupons and offers when they are looking to make a purchase.

✒ The shift towards zero commissions is forcing brokers to consolidate.

✒ If this deal goes through, SoftBank will have invested over $10bn, and lent $5bn more, to a company now valued at $8bn or less.

✒ Minnow swallowing a whale?

✒ Long shot.

✒ Ion growing as a baby Bloomberg.

✒ A bold data play at a time when regulators are on high alert for anti-competitive behaviour, data concentration and privacy abuses by big tech companies.

✒ A takeover approach comes at an uncertain time for Tiffany.

✒ “A 2018 study from S&P Global suggests spun off companies do outperform. Businesses within the same industry as the parent generated impressive cumulative outperformance of almost 30 per cent over a three-year period. However, parent businesses typically produced returns that lagged behind the market by 10 per cent.”

✒ Experienced dealmakers outperform in a weak economy.