This week’s M&A spotlight

• Saudi Arabia’s PIF took on an 8%, ~$164B stake in Aramco (RT)
• Mondi agreed to buy DS Smith for $6.5B to create one of the world’s largest makers of packaging (BBG)
• PE firms including Carlyle Group, CVC, and KKR have shown preliminary interest in a potential takeover of Hong-Kong listed luggage-maker Samsonite International, which has a $5.4B market cap (BBG)
• UK bank Nationwide Building Society agreed to acquire UK banking/financial services company Virgin Money for $3.7B (FT)
• Boston Scientific’s proposed $3.7B acquisition of medical device maker Axonics will likely face US FTC scrutiny (BBG)
• Spanish utility Iberdrola offered ~$2.5B to buy all remaining shares it doesn’t already own in US subsidiary Avangrid (BBG)
• Warner Music Group plans to make a bid for Believe that values the French digital music company at $1.8B, topping an earlier takeover bid from a consortium (RT)
• Investment firm GQG Partners acquired a 0.8% stake in Indian telecom Bharti Airtel from Singapore Telecommunications for $711M (RT)
• Hong Kong film production company Orange Sky Golden Harvest Entertainment is considering selling its movie theaters in Singapore and Taiwan for over $400M (BBG)
• Spanish pharmaceutical company Rovi is exploring the sale of its third-party manufacturing business that it uses to make Covid vaccines (RT)
• Non-bank bidders are interested in NYCB’s loans (RT)

Richard Stein
Chief Growth Officer

Amazing Workplace, Inc.