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Toshiba to go private on December 20 after successful $13 billion takeover bid
Economic Times
ยท
1y ago
Medial
Toshiba is set to go private on December 20th following a successful $13 billion takeover bid. The Japanese tech giant will delist its shares from the Tokyo Stock Exchange and become a fully private company. The move comes after Toshiba faced multiple challenges in recent years, including an accounting scandal and financial losses. The company hopes that going private will enable it to focus on long-term growth and innovation.
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Toshiba to be delisted after 74 years, faces future with new owners
Livemint
ยท
1y ago
Medial
Toshiba, one of Japan's biggest brands, will be delisted after 74 years on the Tokyo exchange. The company is being taken private by a group of investors led by private equity firm Japan Industrial Partners (JIP) in a $14 billion takeover. The new owners plan to focus on high-margin digital services, but it is uncertain what shape Toshiba will ultimately take. The delisting comes after a decade of upheaval and scandal that brought down the company.
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Welspun bids the most for Lavasa Corporation; Lodha Developers, Jindal Steel and Power Group in fray, too
Economic Times
ยท
2m ago
Medial
Lavasa Corporation, India's first private hill town project, has attracted six takeover bids ranging from โน500 crore to โน850 crore as creditors attempt to sell the debt-laden entity again. The Welspun Group placed the highest bid, including process costs, while other bidders include Ashdan, Pride Purple, and Macrotech Developers. Bid conditions require environmental clearances, previously posing challenges. Despite the highest bid being โน850 crore, this accounts for less than 13% of the entityโs โน6,642 crore dues.
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Bain-backed chipmaker Kioxia's market value set at $4.9 billion in IPO
Economic Times
ยท
9m ago
Medial
Kioxia, backed by Bain Capital, is set to have a market value of around 750 billion yen ($4.85 billion) in its upcoming initial public offering (IPO). The IPO is expected to have a deal value of approximately 100 billion yen ($645.45 million), with shares being sold by Bain and Toshiba. Kioxia will also issue new shares, raising 27.7 billion yen. The indicative price for both the secondary offering and new shares is set at 1,390 yen. Kioxia will list on the Tokyo Stock Exchange on December 18.
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A Sony bid for Paramount would be a win-win
Livemint
ยท
1y ago
Medial
Sony is reportedly in talks with private equity firm Apollo to bid for Paramount Global, the owner of broadcaster CBS and the Hollywood studio. The potential deal has sent Paramount shares up 13%. While there may be some obstacles including antitrust regulations and internal boardroom challenges, the backing of Sony, with its substantial cash balance, could make the bid more appealing. The Redstone family currently controls 77% of Paramount's voting rights, making any potential sale subject to their interests and those of other shareholders. If successful, the merger could result in cost savings and content enrichment for Sony.
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Cybersecurity firm Darktrace accepts $5 billion takeover
Economic Times
ยท
1y ago
Medial
Cybersecurity firm Darktrace has accepted a $5.3 billion takeover bid from US private equity firm Thoma Bravo, highlighting Darktrace's expertise in artificial intelligence (AI). Thoma Bravo expressed interest in acquiring Darktrace two years ago. Darktrace is known for its advanced cybersecurity technology, which is increasingly relevant in a world threatened by AI-powered cyberattacks. The cash deal values each Darktrace share at $7.75, representing a 44% premium on the group's average share price in the last three months. The acquisition is expected to be completed in the second half of the year, pending shareholder and regulatory approval.
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Morgan Stanley-led Wall Street banks free books from X buyout debt
Economic Times
ยท
4m ago
Medial
Wall Street banks, led by Morgan Stanley, finally offloaded Twitter's buyout debt from their books. These banks sold the last $1.23 billion portion of the $13 billion debt associated with Elon Musk's acquisition, now under X Holdings Corp. Initially facing investor hesitance, improved financials and demand allowed for a successful sale. The refinancing also reduced interest expenses significantly. X plans to evolve with AI and subscriptions, targeting a $20 billion investment.
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Abu Dhabi's TAQA in talks with investors of Spanish firm Naturgy for possible takeover
VCCircle
ยท
1y ago
Medial
Abu Dhabi's TAQA is in talks with the major shareholders of Spanish energy firm Naturgy for a potential takeover. With a market value of $22 billion, a takeover by TAQA would be the largest by a sovereign wealth fund. TAQA is in discussions with private equity firms CVC and GIP, who together own more than 20% of Naturgy, as well as Naturgy's largest shareholder, Criteria. However, there is no guarantee that a deal will be reached. Spanish rules require any deal to be approved by the government and a mandatory tender offer if the buyer wants to acquire more than 30% of a publicly traded company.
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Grapevine: Alpha Wave bids for stake in VLCC; Yulu Bikes eyes fresh funds
VCCircle
ยท
1y ago
Medial
US private equity firm Alpha Wave Global has made a binding bid to acquire a 25% stake in VLCC Healthcare, a wellness company based in New Delhi. If successful, the deal could value VLCC at $600-700 million. Alpha Wave's bid includes the possibility of injecting fresh capital into the company. In another development, Indian bicycle-sharing platform Yulu Bikes is reportedly seeking new funds.
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Adobe throws XD overboard after losing out on $20bn Figma deal
Techradar
ยท
1y ago
Medial
Adobe has confirmed that it will not further invest in its UI/UX web design software, Adobe XD, after losing out on the $20 billion bid for Figma. The proposed merger between the two companies raised concerns among regulatory authorities, and Adobe XD was effectively placed into maintenance mode. While existing users will still receive support, Adobe's focus will now be on other products such as Photoshop and Premiere Pro.
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Airtel Uganda plans $216 million IPO
Livemint
ยท
2y ago
Medial
Airtel Uganda Limited has announced its initial public offering (IPO) with shares priced at 100 UGX each. The IPO is set to offer up to 20% of the company's stake or 8 billion shares. The offering aims to meet regulatory requirements for mandatory listing by December 16, 2023. The IPO, open from Wednesday to October 13, will lead to trading on the Uganda Securities Exchange starting October 31. Airtel Uganda, a major player in the Ugandan mobile telecommunications market, reported revenues of UGX 1,594 billion in 2022.
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