Vonovia Beefs up with Takeover of Conwert

September 6, 2016

Vonovia has acquired its Austrian rival Conwert for $3.2 billion including debt in its effort to scale up its business. To see the crowd’s reactions to this news and others in the financial markets, stick with Sentifi.

Sentifi Top Attentions September 6

1/ Vonovia SE: Shares fall 2.2 percent on Conwert takeover

Germany’s biggest residential firm Vonovia shares unfortunately fell 2.2 percent after announcing its $3.2 billion takeover of its smaller Austrian rival Conwert. Vonovia identified Conwert as an opportunity to expand its portfolio into new regions and cities.

2/ Marks & Spencer: Plans to cut 525 jobs from its London HQ

Marks & Spencer made it to Sentifi Top Attentions after planning to cut 500 jobs.
Marks & Spencer shares slip after planning a job cut.

Simplifying the business and reducing costs are on the mind of CEO Steve Rowe as he decided on a plan to let go of 525 employees in the company’s head office in London. It will take a quarter or two before the crowd can see the results of its restructuring plan, but for now, its shares dropped 1.14 percent.

3/ Navistar International: Confirms an engine partnership and equity stake with Volkswagen

According to the partnership, the German carmaker will provide truck engines to Navistar in exchange for a proposed stake of 19.9 percent. VW will also get two seats on Navistar’s board, which includes the representatives of Carl Icahn and Mark Rachesky.

4/ Telefónica & 7/ Telefónica UK: Plans to float Telxius and a partial sale/IPO for O2

The Spanish telecoms group plans to list Telxius this year with the free float being at least 25 percent. It also confirms a plan for a partial sale or an IPO for O2, which could be one of the biggest IPOs in London’s history, representing a significant boost for the City and the post-Brexit U.K. Analysts said O2’s IPO could be worth as much as £10 billion.

5/ Bayer: Ups its offer for Monsanto to $127.50 a share

Bayer is very keen on acquiring Monsanto, as it has upped its offer for Monsanto by 2 percent, which is 19 percent above the American company’s last closing price. Monsanto still expresses its indifference for Bayer’s bid as it is still looking at “proposals from other parties and other strategic alternatives.”

6/ Liberty Media: Closes in on the takeover of Formula 1

Liberty Media made it to Sentifi Top Attentions thanks to its intention to control F1.
Formula 1 is soon to be controlled by an American media company, which investors said could be a good thing. (Getty Images)

The U.S.-based media company is looking to take control of Formula 1 as its talks with CVC Partners, which owns a 35 percent stake in F1, has reached an advanced stage. The deal, if happened, is speculated to be worth $8.5 billion.

8/ ProSieben: Buys 50 percent plus one share in Parship Elite

The German boardcaster paid €100 million for 50 percent plus one share in online dating group Parship to harness the growth of the online matchmaking field. Oakley Capital Private Equity II and the existing management, which are the previous owners, will maintain under 50 percent in Parship Elite shares.

9/ Woodside Petroleum: Buys half of BHP Billiton’s stake in Scarborough for $400 million

Woodside is buying half the stake in Scarborough gas fields to complement its growth strategy. BHP has put the development of Scarborough LNG project on the back burner due to a major hit on its bottom line last fiscal year.

10/ Dechra Pharma: Opens new lab as acquisitions boost pipeline

The veterinary drug maker is opening its third lab in Zagreb, the capital of Croatia, to accommodate for the growing pipeline of experimental treatments, a result of last year’s series of acquisitions.

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