19 aug: DE FEDESTE LAMPER LIGE NU
24 aug: K/S-markedet under kraftig forandring
20-08-2010 16:07:45

BHP, Intel and RSA shatter usual August M&A lull

Sign shown at headquarters for Intel Corp in Santa Clara
Relateret indhold

By Quentin Webb

LONDON (Reuters) - Global mergers and acquisitions have hit nearly $200 billion (128.9 billion pounds) this month, making it already one of the busiest Augusts on record in what is typically one of the year's quietest periods, Thomson Reuters data shows.

The $197.6 billion of deals appears to vindicate analysts and bankers who have spent months predicting an upturn in M&A, as cash-rich corporates regain confidence, the economic backdrop improves and banks are increasingly ready to lend.

The tally is led by BHP Billiton's (BHP Billiton PLC ORD $0.50) (BHP BLT FPO) $39 billion hostile offer for Potash Corporation of Saskatchewan Inc (POT), the year's biggest deal, but blue-chips in other sectors, such as Intel Corp (Intel Corporation) and RSA Insurance Group PLC (RSA Insurance Group PLC ORD GB), are also pursuing major acquisitions.

"Companies have been feeling more positive, valuations often look reasonable, and financing markets are open again," said Tom Cooper, co-chair of M&A at Deutsche Bank, this year's fourth-busiest adviser on deals.

Still, bankers said the rush was partly coincidental, since takeovers usually require months of preparation. And while improving visibility on corporate profits has lightened the mood, most boards remain far from gung-ho about risky deals.

"As stability begins to return, you'll definitely see more M&A -- but I don't think this flurry of activity presages the start of a huge boom," said Guy Dawson, vice chairman of Europe, the Middle East and Africa (EMEA) investment banking at Nomura.

The largest August on record was in 1999 when M&A totalled $274.8 billion, the data shows. This year is already the busiest August since 2006.

Taken alone, this week boasts the highest value of announced deals since November -- when Warren Buffett's Berkshire Hathaway Inc (BRKA)(BRKB) agreed to buy rail company Burlington Northern Santa Fe Corp, in the billionaire investor's biggest-ever takeover.

FUNDING

One big spur is cheaper and more readily available funding. Solid A-rated companies now pay a premium over Libor of about 71 basis points for loans, half that of a year ago, data from Thomson Reuters unit Loan Pricing Corp (LPC) shows.

And BHP's bid is even funded by $45 billion of loans on terms cheaper than the last mammoth acquisition loan of 2008, bankers told LPC.

"If you're borrowing, you can do big deals on attractive terms and even the sub-investment grade market is willing to fund in size," Deutsche's Cooper said.

BHP illustrates another big trend -- four of the eight biggest deals involve natural resources. In contrast, uncertainty about future rules governing the sector has curbed banking M&A, traditionally a hotbed of deals.

(Reporting by Quentin Webb; editing by David Cowell)

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Sydbank: Kæmpeskibe kan blive meget stor udfordring for industrien

21-09-2017 15:41:48
Det kan blive en meget stor udfordring for shippingindustrien, at flere store rederier har meldt ud, at de har bestilt nye kæmpeskibe med plads til op mod 22.000 tyvefodscontainere (teu).Det vurderer Morten Imsgard, senioranalytiker i Sydbank, over for Ritzau Finans.- Når rederierne vælger at købe de skibe, så får vi en årrække nu, hvor det vælter ind med kæmpeskibe i industrien, og det lægger et ..

Nets skal levere betalingsinfrastruktur til banker i Slovenien - NY

21-09-2017 12:33:42
Det danske betalingsserviceselskab Nets har indgået en aftale med Bankart om at levere en ny betalingsinfrastruktur til banker i Slovenien.Det oplyser Nets i en pressemeddelelse torsdag morgen.Aftalen med Bankart, der leverer finansielle ydelser til den slovenske banksektor, indebærer både lancering og drift af en løsning for realtidsbetalinger med Netsø "RealTime24/7"-service, fremgår det.Løsning..

Aktier/middag: Bankerne stiger til vejrs efter nyt fra USA

21-09-2017 11:40:51
Bankerne har en god torsdag på de europæiske aktiemarkeder ved udsigten til en stramning af pengepolitikken i USA.Herhjemme ligger Danske Bank og Nordea i toppen af aktiemarkedet og har fået følgeskab af Novo Nordisk, der muligvis nyder godt af en styrkelse af dollar.Den amerikanske centralbank fastholdt onsdag som ventet sin toneangivende rente og besluttede ligeledes som forudset af økonomer at ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/middag: Bankerne stiger til vejrs efter nyt fra USA
2
Tysk storbank steg på rygter om mulig fusion
3
Aktier/åbning: Novo Nordisk og banker sender det danske marked frem
4
Sydbank: Kæmpeskibe kan blive meget stor udfordring for industrien
5
Torsdagens aktier: Renteudmelding var vand på bankernes mølle

Relaterede aktiekurser

BHP Billiton PLC ORD $0... 1.343,46 0,0% Aktiekurs uændret
RSA Insurance Group PLC .. 624,50 0,0% Aktiekurs uændret
Intel Corporation 37,20 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. september 2017 08:15:28
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170921.1 - EUROWEB5 - 2017-09-22 08:15:28 - 2017-09-22 08:15:28 - 1 - Website: OKAY