In this briefing:
1. M&A: A Round-Up of Deals in January 2019
For the month of January, seventeen new deals were discussed on Smartkarma with an overall deal size of US$91bn, with ~81% of that figure from the Celgene Corp (CELG US) deal. This overall number does not include rumours on Nexon Gt Co Ltd (041140 KS) and Capitaland Ltd (CAPL SP)‘s acquisition of Ascendas-Singbridge. The average transaction premium was 43%, or 26% if ignoring Earthport plc (EPO LN).
New Deals | Industry | Premium | Deal Size (US$m) | Deal Type |
| Australia | ||||
| Healius (HLS AU) | Health Care | 33.2% | 1,402 | Scheme |
| Hong Kong | ||||
| New Sports Group (299 HK) | Communication Services | 3.6% | 82 | Off-Mkt |
| India | ||||
| Gruh Finance (GRHF IN) | Thrifts and Mortgage Finance | -7.6% | 2,974 | Scheme |
| Indonesia | ||||
| Bank Danamon Indonesia (BDMN IJ) | Finance | 14.9% | 4,000 | Offer |
| Japan | ||||
| Clarion Co Ltd (6796 JP) | Audio/infotainment | 10.5% | 1,300 | Tender offer |
| Descente Ltd (8114 JP) | Retailer | 49.7% | 185 | Partial offer |
| Jiec Co Ltd (4291 JP) | Info Tech | 39.3% | 52 | Tender Offer |
| Kosaido Co Ltd (7868 JP) | Commercial Printing | 43.8% | 139 | Tender offer |
| Shinmaywa Industries (7224 JP) | Industrials | 10.5% | 365 | Tender offer |
| Veriserve Corp (3724 JP) | Info tech | 44.6% | 142 | Tender offer |
| Singapore | ||||
| Courts Asia Ltd (COURTS SP) | Consumer Discretionary | 34.9% | 27 | Scheme |
| M1 Ltd (M1 SP) | Communication Services | 26.0% | 932 | Off-Mkt |
| Pci Ltd (PCI SP) | Information Technology | 28.0% | 45 | Scheme |
| Taiwan | ||||
| Yungtay Engineering (1507 TT) | Industrials | 22.0% | 704 | Off-Mkt |
| Europe | ||||
| Earthport plc (EPO LN) | Information Technology | 340.0% | 277 | Off-Mkt |
| Panalpina Welttransport Holdin (PWTN SW) | Industrials | 24.0% | 4,083 | Off-Mkt |
| US | ||||
| Celgene Corp (CELG US) | Health Care | 53.7% | 74,000 | Scheme |
M1 Ltd (M1 SP) is essentially an ongoing transaction; while Mastercard Inc Class A (MA US) trumped Visa Inc Class A Shares (V US)‘s December offer for Earthport. Healius (HLS AU) rejected its proposal.
Bank Danamon Indonesia (BDMN IJ) is similarly an ongoing transaction and arguably the premium is higher than 14.9%, which is based on the last close.
Directly below is a summary of ongoing M&A situations, followed by a recap of news associated with each event situation.
Get Straight to the Source on Smartkarma
Smartkarma supports the world’s leading investors with high-quality, timely, and actionable Insights. Subscribe now for unlimited access, or request a demo below.
