Deal

    • Toshiba eyes a $21bn takeover deal with CVC

      Toshiba eyes a $21bn takeover deal with CVC

      The troubled Japanese industrial conglomerate Toshiba eyes a lucrative $20 billion offer from private equity firm CVC Capital Partners, Reuters reported. The offer envisages a large premium for stockholders. The proposed deal, which comes three weeks after shareholders approved an independent probe into the scandal-hit company, could shield managers, particularly Chief Executive Nobuaki Kurumatani, from that scrutiny. It would, however, invite regulatory review given its government work.

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    • IBM grabs a $2.5bn worth German startup

      IBM grabs a $2.5bn worth German startup

      IBM announced it had managed to secure a key tie-up deal with the lucrative German startup Celonis, Reuters reported. Celonis uses software to identify how work moves through an organization and suggests more efficient ways of getting the same work done, also known as process mining. IBM will train 10,000 consultants worldwide on Celonis.

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    • Hitachi buys US hi-tech firm GlobalLogic for $9.6bn

      Hitachi buys US hi-tech firm GlobalLogic for $9.6bn

      The Japanese giant Hitachi announced its plans to expand its business development through acquiring new assets mainly in the US, Reuters reported. The envisaged deal is a planned merger with US software company GlobalLogic Inc for $9.6 billion, as the Japanese industrial conglomerate targets further expansion from electronics hardware to digital services.

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    • WeWork goes public through $9bn SPAC merger deal with BowX

      WeWork goes public through $9bn SPAC merger deal with BowX

      WeWork has agreed to go public by accepting a deal with special purpose acquisition company (SPAC), Reuters reported. By finalizing the deal, WeWork will set its market valuation at 9 billion dollars. The targeted deal is with the blank-check firm BowX Acquisition Corp, the Wall Street Journal elaborated on Friday, citing people familiar with the matter.

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    • Allianz outbids rivals to mulls a €2.5bn deal with Aviva

      Allianz outbids rivals to mulls a €2.5bn deal with Aviva

      The leading German insurer Allianz managed to outbid rivals in a move to acquire the Polish unit of UK Aviva in a deal valued at 2.5 billion euros, Reuters reported. Among the outbid companies were Dutch NN and the Italian Generali. Allianz is said to be close to entering exclusive talks with Aviva and an official information is expected by the end of the week.

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    • AstraZeneca sells a 7.7% stake in Moderna for more than $1bn

      AstraZeneca sells a 7.7% stake in Moderna for more than $1bn

      AstraZeneca announced it had sold 7.7% minority stake in Moderna for more than $1 billion cashing out on the back of the surge of the US company surge, Reuters said quoting an article in The Times. The strong demand and robust growth in prices were prompted by Moderna’s breakthrough in producing one of the approved vaccines against Covid-19. AstraZeneca and Moderna did not immediately respond to the report.

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    • Nestle sells bottled water brands for $4.3bn

      Nestle sells bottled water brands for $4.3bn

      The Swiss-based beverage giant Nestle is aiming to sell its North American bottled brands for a total of 4.3 billion dollars, AP reported. The brands include Poland Spring, Deer Park, Arrowhead and Pure Life. They are intended to be sold to a subsidiary of One Rock Capital Partners in partnership with Metropoulos & Co.

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