Tag Archives: deal

Good year for cross-border M&A in the Middle East

“The Middle East has seen a very robust year in terms of both inbound and outbound M&A activity,” said Tom Thraya, UAE Head of Corporate/M&A for Baker&McKenzie Habib Al Mulla.”The increasing trend looks set to continue in 2015, with stable markets such as the UAE and Saudi Arabia remaining attractive to international investors. Factors such as the UAE’s increasing importance as a business hub for the Middle East and Africa, and the opening up of Saudi Arabia’s stock exchange for foreign investors in 2015, are fueling optimism for a further acceleration of M&A activity in the region.”

Data from Thomson Reuters reveals that as of 14 December 2014, the total value of Middle Eastinbound M&A activity has already surpassed 2013, increasing by 53 percent to reach USD9.5 billion. In terms of deal value, inbound acquisitions were driven by the US (49.8 percent), followed by China (10.3 percent) and Switzerland (7.1 percent). The US had the most number of transactions with 43 deals, followed by India and China, both with 8 deals.

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Sprint Wants States to Review AT&T’s Proposed $39 Billion T-Mobile Deal

http://www.advancedmarkettiming.com/

AT&T vs Sprint

As reported by Bloomberg’s Todd Shields and Greg Bensinger:

Sprint Nextel Corp. (S) said it wants state agencies in California and West Virginia to follow Louisiana in scrutinizing AT&T Inc. (T)’s proposed purchase of T- Mobile USA Inc.

Third-largest U.S. wireless carrier Sprint filed a request with the California Public Utilities Commission yesterday requesting an investigation into the $39 billion transaction, the company said in an e-mail.

“This transaction is bad for consumers and bad for the economy, and we look forward to having some regulatory sunshine cast upon it,” John Taylor, a spokesman for Overland Park, Kansas-based Sprint, said in an interview. California and West Virginia should open reviews, as Louisiana has, he said.

On May 17, the Louisiana Public Service Commission voted 4- 1 to open an inquiry, Commissioner Foster Campbell said in a phone interview yesterday.

“It’s too big a deal to let it go through without getting everybody’s questions answered, and making sure this is a good deal for the consumer,” said Campbell, a Democrat.

The deal needs approval from two U.S. agencies, the Justice Department and the Federal Communications Commission.

States can keep companies from transferring assets within their borders, a possibility that can lead to concessions by companies, Rebecca Arbogast, a Washington-based analyst with Stifel Nicolaus & Co., said in an e-mail. States haven’t blocked past deals, she said.

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