Australia’s Brambles ends $14 billion takeover talks with CVC Capital

– Australia’s Brambles Ltd said on Tuesday European private-equity firm CVC Capital Partners has ended preliminary talks with the company over a potential A$20 billion ($14 billion) takeover offer, citing external market volatility. The development comes a day after the Australian logistics firm confirmed it was evaluating the offer, which would have been one of the biggest private-equity-backed takeovers in the country. It had not put a number on the deal. Shares of Brambles dropped…

"Australia’s Brambles ends $14 billion takeover talks with CVC Capital"

Tiger Global raised stakes in some tech names battered by year’s rout -filing

BOSTON – Investment firm Tiger Global, which has lost billions of dollars in this year’s technology stock meltdown, increased its stakes during the first quarter in several companies that have been especially hard hit by the selloff, a regulatory filing shows. Tiger Global boosted its holding in consumer internet company Sea Limited by 18% to own 13.5 million shares on March 31, according to a filing made on Monday. Sea Limited’s stock price has tumbled…

"Tiger Global raised stakes in some tech names battered by year’s rout -filing"

U.S. defense contractor ManTech accepts Carlyle’s $3.9 billion buyout deal

-ManTech International Corp on Monday accepted a $3.93 billion all-cash buyout deal from private equity firm Carlyle Group Inc, sending the U.S. defense contractor’s shares up 11%. Carlyle said it had offered $96 per share, representing a 17% premium to ManTech’s closing on Friday. The enterprise value of the deal stood at $4.2 billion. The deal comes at a time the outlook for mergers and acquisitions in the defense sector has been uncertain after arms…

"U.S. defense contractor ManTech accepts Carlyle’s $3.9 billion buyout deal"

JetBlue launches hostile takeover bid for Spirit Airlines

– JetBlue Airways Corp on Monday commenced a hostile all-cash takeover bid for Spirit Airlines Inc, days after the discount carrier rejected an offer from the larger rival. JetBlue, which had earlier offered $33 per share, is locked in a takeover battle for Spirit with Frontier Group Holdings and has argued a deal will help better compete with the “Big Four” U.S. airlines that control nearly 80% of the passenger market. In a letter to…

"JetBlue launches hostile takeover bid for Spirit Airlines"

Detroit Three automakers reinstate mask mandate at some Michigan facilities

– General Motors Co, Ford Motor Co and Chrysler parent Stellantis NV said on Sunday they are reinstating a requirement that employees wear masks in southeastern Michigan where there are high levels of COVID-19. The Detroit Three automakers said in early March they would allow auto workers to stop wearing masks at workplaces where U.S. health officials said it was safe to do so. That month, the automakers said they would adopt revised guidance by…

"Detroit Three automakers reinstate mask mandate at some Michigan facilities"

Deutsche Bank not financing controversial African oil pipeline, source says

FRANKFURT – Deutsche Bank is not financing a pipeline in Africa that environmental campaigners have said will displace thousands of families and disrupt nature reserves, a person with knowledge of the matter said on Sunday. Germany’s largest lender has come under pressure to clarify its stance on the financing of the planned $3.5 billion East African Crude Oil Pipeline (EACOP), which would stretch more than 1,400 kilometres from Uganda to Tanzania. Deutsche has so far…

"Deutsche Bank not financing controversial African oil pipeline, source says"

UniCredit, Citi consider swapping assets with Russian institutions – FT

– UniCredit SpA and Citigroup are exploring asset swaps with Russian financial institutions as western banks trying to avoid heavy writedowns as they exit Russia, the Financial Times said on Sunday. UniCredit has received several offers from Russian financial institutions to buy its local subsidiary since its chief executive, Andrea Orcel, said in March it was considering pulling out of the country, the newspaper reported, citing unnamed people familiar with matter. Citigroup is the most…

"UniCredit, Citi consider swapping assets with Russian institutions – FT"

Emirates Telecommunications acquires 9.8% stake in Vodafone

DUBAI – Emirates Telecommunications Group Company PJSC, now known as (e&), said on Saturday it has acquired a 9.8% stake in Vodafone for $4.4 billion. The move came days after e& said it is looking to expand into new markets in Africa, Europe and Asia and in areas outside telecoms such as financial technology as its seeks to drive growth. The United Arab Emirates-based telecommunications firm said it made the investment to gain “significant exposure…

"Emirates Telecommunications acquires 9.8% stake in Vodafone"