The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday January 2 through Sunday January 4, 2014
Perfect World Reports Chairman’s Preliminary Non-Binding ‘Go-Private’ Offer of $20/ADS
Perfect World Co., Ltd. (NASDAQ: PWRD) announced Friday, that its board of directors has received a preliminary non-binding proposal from its founder and chairman, Mr. Michael Yufeng Chi, to acquire all of the outstanding shares of Perfect World he does not currently own, in a going private transaction for $20.00 per ADS ($4.00 per ordinary share) in cash.
Perfect World’s Board has formed a special committee of independent directors to consider the proposal.
Perfect World shares closed Friday at $19.25, up 22%.
Kindred Acquires Centerre Healthcare for $195M
Kindred Healthcare, Inc. (NYSE: KND) announced Friday, that it has completed the previously announced acquisition of Centerre Healthcare Corporation for approximately $195 million in cash.
Kindred Healthcare shares closed Friday at $17.77, down more than 2%.
Posted in 2015 Recap, Breaking news, Corporate Finance, emerging markets, Events, Finance
Tagged Cantel Medical Corp., Centerre Healthcare Corporation, Golden Networking, Inc., Kindred Healthcare, Ltd., Merger and Acquisition, Modern Finance Report, Mr. Michael Yufeng Chi, non-binding proposal, Perfect World Co., Pure Water Solutions
According to Yahoo Finance, in 2010, Metro-Goldwyn-Mayer, the storied Hollywood studio behind classics from The Wizard of Oz and James Bond to The Hobbit, filed for Chapter 11 bankruptcy protection. It was the classic victim of a leveraged buyout from a group including Providence Equity Partners and TPG Capital, alongside Sony and Comcast.
Now it is rumoured to be the target of another group of investors with a lot of capital in their pockets — this time the Chinese. Mainland companies such as Dalian Wanda and Fosun, a conglomerate, are both flush with cash. Dalian Wanda just went public in Hong Kong raising almost $4bn in the process and Fosun has access to the coffers of its Portuguese insurer among other sources of money.
Posted in 2015 Recap, Breaking news, China, Corporate Finance, Economy, emerging markets
Tagged Africa, China, Cnooc, Dalian Wanda and Fosun, Golden Networking, Hobbit, James Bond, Latin America, mainland firms, Merger and Acquisition, Metro-Goldwyn-Mayer, Modern Finance Report, Providence Equity Partners, Sony and Comcast, The Wizard of Oz, TPG Capital
VSE Corporation (VSEC) announced today that it has signed a definitive agreement to acquire four business units from Killick Aerospace Group, consisting of Prime Turbines (including both U.S. and Germany-based operations), CT Aerospace, Kansas Aviation and Air Parts & Supply Co. The companies to be acquired specialize in maintenance, repair and overhaul (MRO) services and parts supply for corporate and regional jet aircraft engines and engine accessories. The initial purchase price payable upon the closing is approximately $184 million in cash. The purchase agreement also includes potential post-closing payments of up to $40 million if CT Aerospace, Kansas Aviation and Air Parts & Supply Co. surpass certain thresholds of earnings before interest, taxes, depreciation and amortization (“EBITDA”) during the first two years after the closing and one additional post closing payment of $5 million if such companies surpass a certain EBITDA threshold during any 12-consecutive month period in 2014 and 2015. Other purchase price adjustments also may be required based on certain post-closing determinations, including in respect of the closing net working capital and certain inventory and equipment.
The four business units combined sales and income before taxes are estimated to be approximately $111 million and $22 million, respectively, for the year ending December 31, 2014. Such estimated results are not necessarily indicative of future financial performance and the actual results of the four business units for 2014 may differ from the estimated results. The four business units have approximately 185 employees.
Posted in 2015 Recap, Bond Market, Breaking news, Economy, emerging market, Events, Finance
Tagged Arent Fox LLP, CT Aerospace, Golden Networking, Kansas Aviation and Air Parts & Supply Co., Killick AerospacePrime Turbines, Merger and Acquisition, Modern Finance Report, Paul Goffredi, Pratt & Whitney GE Aviation, turboprop engine, VSE Corporation
Walgreen Co. and Alliance Boots GmbH today completed Step 2 of their strategic partnership to form Walgreens Boots Alliance, Inc. (Nasdaq:WBA), finalizing the two-step merger launched in 2012 to create the world’s first global pharmacy-led, health and wellbeing enterprise.
Under a reorganization merger agreement approved earlier this week by Walgreens shareholders, Walgreens is now a wholly owned subsidiary of Walgreens Boots Alliance, Inc. Existing shares of Walgreens common stock were converted automatically into shares of Walgreens Boots Alliance common stock on a one-for-one basis. Walgreens Boots Alliance common stock will trade on the Nasdaq stock exchange under the symbol WBA.
The new global enterprise combines Walgreens, the largest drugstore chain in the USA; Boots, the market leader in European retail pharmacy; and Alliance Healthcare, the leading international wholesaler and distributor. Together, Walgreens Boots Alliance spans more than 25* countries, with over 12,800* stores, over 370,000* employees and more than 340* pharmaceutical distribution centers serving more than 180,000† pharmacies and other points of care. The merger also brings together a unique brand portfolio of outstanding retail, wholesale, service and product brands, alongside the world’s largest pharmaceutical wholesale and distribution network. Walgreens Boots Alliance will be domiciled in the United States and headquartered in Deerfield, Ill.
Posted in 2015 Recap, Bond Market, Breaking news, Commodities, Corporate Finance, Economy, emerging markets, Events, Finance
Tagged Alliance Boots GmbH, Deerfield, global pharmacy-led, Golden Networking, Greg Wasson, health and wellbeing enterprise., Ill, Merger and Acquisition, Modern Finance Report, Nasdaq stock exchange, retail, service, Stefano Pessina, Walgreens, WBA, Wholesale