Top Tweets for #CorpFin
Synergy guidance boosts announcement reactions but often fails to materialise. Disclosers show more goodwill impairments, weaker performance, and lower long‑run returns. External verification (UK Rule 28) improves credibility. https://t.co/RjAmcE5fzM #CorpFin
$STAA $ALC
STAAR Surgical and Alcon will not come out of ongoing talks with the same deal, CTFN reported.
New story and full coverage at https://t.co/qjRnYWvN2i
#mergers #corpgov #corpfin @diane_alter
DATs are fast becoming the next frontier in #Bitcoin strategy — rewriting #corpfin.
At #WBS2025: @msantoriESQ of @PanteraCapital — a leading @BlockchainAssn member — shaping the future of Digital Asset Treasury companies (DATs).
Alongside: @JDaxHansen, @OwnYourDataNow, @dgt10011, @10XCapitalUSA
1COV:GR $COVTY
More market-leading reporting on Covestro/Adnoc and the EC's FSR review this week from CTFN.
Learn more at https://t.co/qjRnYWvfcK
#mergers #corpfin #industrials #eufsr
$X 5401:JP
US Steel/Nippon Steel - Hands down the best reporting on this situation from start to finish: @diane_alter
For more about CTFN's coverage of this deal and all public company #mergers visit https://t.co/qjRnYWvfcK
#corpfin #corpgov #fdi
$CTLT $NVO
The $16.5 billion acquisition of US contract drugmaker Catalent by Novo Holdings could be finalized as early as Monday, December 16, CTFN reported on Dec 11.
https://t.co/SwjpDmI6Ph
@diane_alter #mergers #corpfin #pharma
Catalent $CTLT & Novo Holdings $NVO announced they have fulfilled all regulatory closing conditions for their pending transaction. The companies now expect to close the transaction in the coming days. #merger
$X 5401:JP
US Steel and Nippon Steel are determined to push their merger forward, with intensified efforts expected over the next couple of weeks, CTFN reported.
Full story at https://t.co/qjRnYWvfcK
#mergers #cfius #industrials @diane_alter #finance #corpfin
$STZHF $CFL
Have you seen CTFN's tools for professionals in the #mergers and #corpfin eco-system? Day 1 example below after the announcement of the Stelco/Cleveland-Cliffs acquisition. This will be updated regularly (along with pages for every major merger) as the deal progresses:
Target / acquirer: Stelco Holdings (STLC:CN) / Cleveland-Cliffs (CLF)
Announced: July 15, 2024
Terms: C$70 per share, consisting of C$60.00 in cash and 0.454 shares of Cliffs common stock
Enterprise value: C$3.4 billion
Premium: 87% to Stelco’s closing price on July 12
Capitalization: 54.967 million shares
Regulatory conditions: HSR, the Competition Act (Canada), Investment Canada, and approval under Stelco’s funding agreement with Canada’s Strategic Innovation Fund.
Best efforts: TBD
CTFN enforceability rating: TBD
Shareholder votes: Plan of arrangement under the Canada Business Corporations Act, subject to approval at an EGM of Stelco shareholders by at least two-thirds of the votes cast by Stelco shareholders; and a simple majority of the votes cast by Stelco shareholders (excluding common shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions).
Closing guidance: Fourth quarter of 2024
Outside date: TBD
Financing: No financing condition
Termination fee / reverse termination fee: C$100 million / C$131 million
Target jurisdiction: Ontario, Canada
Target advisors: BMO Capital Markets is serving as financial advisor, and McCarthy Tétrault and A&O Shearman are serving as legal counsel. In addition, RBC Capital Markets is serving as financial advisor to a special committee of Stelco’s board, and Stikeman Elliott is serving as legal counsel to the special committee.
Acquirer advisors: Wells Fargo, JP Morgan and Moelis & Company are serving as financial advisors. Davis Polk & Wardwell and Blake, Cassels & Graydon are serving as legal counsel. Wells Fargo Bank and JP Morgan have provided full underwritten financing commitments and are backstopping the acquirer’s existing asset-backed lending facility.
Commentary: Fairfax Financial Holdings, an affiliate of Lindsay Goldberg, Alan Kestenbaum, and each of the other directors and executive officers of Stelco collectively holding 45% of Stelco’s common shares have agreed to vote in favor of the transaction, subject to customary exceptions.
Learn more at https://t.co/vg5KCEWIOr or write to [email protected]
Stericycle and Waste Management filed HSR on July 3 - a month after the deal was announced, and well beyond what was agreed to in the merger agreement - in an attempt to avoid a second request, CTFN reported.
Full story at https://t.co/vg5KCEWIOr
#mergers #antitrust #corpfin @diane_alter
#ICYMI
Do you care about #consolidation in the beverages industry or follow #consumer?
@ctfn_news’ market leading team reported critical #corpfin news this week on two players in the space - Boston Beer $SAM and Constellation $STZ
First, CTFN reported on source’s views that debunked the Suntory interest Boston Beer - with the industrial logic explained - and noted who more likely acquires would be (including a private Canadian company).
Next, CTFN reported on where the Sands family stands with Constellation and related sources’ views on what an exit might mean in terms of the disposition of the company. Who is the best owner from a strategic perspective?
Go to https://t.co/vg5KCEWIOr to learn more or write to us directly at [email protected]
Why not be at the forefront of where industry is moving?
#mergers #corpgov
$MUR and $APA: CTFN reported that Murphy Oil and Apache Corporation are likely takeover targets, citing an executive in the space, who spoke with CTFN on the sidelines of the CERAWeek conference in Houston.
Full story at https://t.co/qjRnYWvfcK
#mergers #corpfin #oilandgas
$HES $CVX Negotiations over ExxonMobil’s right-of-first-refusal claims over Hess’s Guyanese assets are ongoing, CTFN reported.
Full story at https://t.co/qjRnYWvfcK
#mergers #oilandgas #corpfin
$AYX
Clearlake’s and Insight’s proposed acquisition of Alteryx was notified to the European Commission for a simplified review. The regulator has until March 20 to decide on the matter.
https://t.co/vBvccfGF26
All deal updates at https://t.co/J1sMWeCZCM
#corpfin
Zinsbelastung für Unternehmen fällt um 11% in 11 Tagen
@ecb-Sitzung nährt Hoffnung auf weiteren Rückgang
Der @BarkowConsult-ing Corporate Credit Index liegt aktuell bei 3,97%
Chart & Insights
https://t.co/d2FB3sux6g
#ECB #interestrates #corpfin #kmu #zinsen
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