Delays in South African Review of SABMiller/AB InBev Merger Might be Due to Rivals

The further extension recently secured by South Africa’s Competition Commission for its review of the SABMiller/Anheuser-Busch InBev merger could be due to complaints filed by stakeholders such as competing beer brewers, two local antitrustfeatured

Demag Question Persists if Terex Reaches Deal with Zoomlion

Terex’ board might approve Zoomlion’s bid for the company, only if the bidder submits a binding offer, providing significant reassurances over its financing strategy, two German lawyers told CTFN. The first lawyer, who has close ties with Terex, said that one of the main reasons why the target was keen on a merger withfeatured

MOFCOM Fears Evident in SanDisk/Western Digital Spread

A fear that the Ministry of Commerce of the People’s Republic of China will retaliate for the United States’ decision to review an investment by Unisplendour into Western Digital is creating an attractive spread in SanDisk/Western Digital, two hedge fund investors told CTFN. The U.S.-based disk drive and memory chip makers announced their intention to … Read Morefeatured

Ingram Micro and Tianjin Tianhai Unchanged on CFIUS Position

Ingram Micro and its acquirer, Tianjin Tianhai, have not reconsidered filing a notice with the Committee on Foreign Investment in the United States despite a perception that failing to do so is imprudent, said an Ingram spokesperson. Earlier this week, the advisory group United First Partners wrote a note calling a CFIUS investigation of Tianjin Tianhai’s … Read Morefeatured

Zoomlion’s Financing for Terex Bid Questioned

Chinese construction machinery manufacturer Zoomlion might not be able to finance its $30 per share all-cash offer for U.S. rival Terex, a source familiar with the industry told CTFN. The source said that there are mounting rumors in China that Zoomlion’s bold takeover move was aimed at showing the Chinesefeatured

Ingram Micro Says Tianjin Tianhai Merger Should Not See CFIUS Review

In response to investor concerns that Ingram Micro’s $6 billion merger agreement with Tianjin Tianhai should include more provisions for a possible review from the Committee on Foreign Investment in the United States, Damon Wright, a spokesperson for Ingram told CTFN, “We don’t believe we fall under the auspices of CFIUS.” Wright argued that Irvine, … Read Morefeatured

Financing for Chinese Outbound M&A Carries Risk

In these days of heady M&A by Chinese companies for international assets, three lawyers warned that financing in China includes a degree of risk atypical in the West. Since China owns significant stakes in its largest banks, the country can delay or refuse loans even after companies make agreements. The largest Chinese banks, Bank of … Read Morefeatured

Unisplendour Investment in Western Digital Should Draw Modest CFIUS Scrutiny

Minority investments like China-based Unisplendour’s purchase of a 15% equity stake in Western Digital tend to receive modest scrutiny from the Committee on Foreign Investment in the United States compared to deals in which the foreign buyer seeks a majority stake in a company, said a source familiar with the matter. In September, Western Digital, … Read Morefeatured

Chip Equipment Makers Lam Research and KLA-Tencor Can Expect Long Antitrust Review

After fashioning their $10.6 billion tie-up, semiconductor capital equipment manufacturers Lam Research and KLA-Tencor Corp. hope to avoid the fate rendered a similar merger earlier this year between rivals Applied Materials and Tokyo Electron. That deal died after an 18-month review by antitrust regulators when the two sides – the companies and the Department of … Read Morefeatured

Competition Regulators to Untangle EMC/Dell Merger

The $67 billion takeover of EMC by Dell is expected to trigger lengthy antitrust reviews by competition regulators in the U.S., the European Union, and China, but is ultimately expected to pass muster because of avid competition in the affected markets, according to experts. The companies targeted a nine to 12-month period to close the … Read Morefeatured

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