M&A Activity, Merger Arbitrage, and Hostile Takeovers

AT&T – T-Mobile Merger (Dealbook):

The federal judge overseeing the case against AT&T’s proposed $39 billion acquisition of T-Mobile USA has asked both sides to discuss the prospects of a settlement on Sept. 21. In an order signed on Monday, Judge Ellen S. Huvelle of the United States District Court in Washington, asked the Justice Department, AT&T and Deutsche Telekom, which is the parent of T-Mobile USA, to file a joint plan by Sept. 16 on scheduling and managing the case.

AT&T Inc. (NYSE:T)

Ex-BP Chief’s Firm to Buy Iraqi Oil Company in $2.1 Billion Deal (Dealbook):

Vallares, the investment vehicle Mr. Hayward co-founded with the financier Nathaniel P. Rothschild this year, agreed on Wednesday to buy Genel Energy International, an oil producer in the Kurdistan region of Iraq, in a $2.1 billion deal. Mr. Hayward will be chief executive of the new company, called Genel Energy. Rodney Chase, the former deputy chief executive of BP, would become chairman and Mr. Rothschild nonexecutive director. Under the terms of the transaction, Vallares will issue $2.1 billion of new stock at £10 ($15.99) a share to acquire Genel in a reverse takeover. The owners of Vallares and Genel will own equal shares in the combined company. The Turkish billionaire Mehmet Karamehmet currently owns 56 percent of Genel, while the company’s chief executive, Mehmet Sepil, owns 29 percent.

SAB Miller – Fosters Group (WSJ):

Australia’s takeovers watchdog on Thursday rejected attempts by SAB Miller PLC to force a review of the financial statements of 9.51 billion Australian dollar (US$10.07 billion) takeover target Foster’s Group Ltd. SABMiller, the maker of Grolsch and Peroni, has made a A$4.90 a share bid for Foster’s, Australia’s leading brewer with seven of the country’s top 10 beer brands. After Foster’s rejected the takeover proposal as undervaluing the company, SABMiller went hostile with the bid on Aug.

Mosaid Hostile Takeover (WSJ):

Mosaid Technologies Inc. is recommending shareholders reject rival patent-licensing company Wi-LAN Inc.’s hostile 480-million-Canadian-dollar (US$485 million) takeover bid, calling it “inadequate and highly opportunistic.” Ottawa-based Wi-LAN is offering C$38 a share for its cross-town counterpart. In midday trading on the Toronto Stock Exchange, Mosaid’s shares were off 10 cents at C$41.10, suggesting a higher bid will be required for Wi-LAN to win sufficient backing. Wi-LAN’s offer is conditioned on winning support from Mosaid shareholders controlling at least two-thirds of the company’s outstanding shares.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!