A frenzy of buyouts of companies in the world

A TAKEOVER bid at eur 9 billion to the energy company chinese China Three Gorges on the Portuguese Energias de Portugal (EDP), the acquisition for € 18 billion of european assets of the us company Liberty Media by the british Vodafone, the yes to 51 billion euros of the biotech irish Shire to his claiming japanese Takeda. The frenzy of takeovers of companies across the world intensifies. Between 1 January and 10 may, the mergers and acquisitions totalled $ 1 $ 850 billion (1 560 billion euros), up 67 % compared to the same period of 2017, according to Thomson Reuters.

The sustained growth of the global economy, access to easy and cheap funding, Scholarships prosperous : “The macro-economic situation remains very favourable. In addition, the tax policy advantageous to the United States injects extra fuel in the system. This benefits to u.s. companies but also to european multinational companies that have subsidiaries in the United States, ” stresses Xavier Bindel, responsible for mergers and acquisitions of JPMorgan in France.

If the tax cuts of president Donald Trump to December 2017 had left fear a wave of takeovers of european companies by American full of dollars, nothing of the sort has happened, at this point. The groups americans rather prefer repurchases of shares or consolidation of domestic, in the image of the resume of the manager of medical prescriptions Express Scripts by the insurer Cigna to $ 67 billion.

Big moves in the energy companies

“There is a clear acceleration of the consolidation. The targets are finally few and the groups want to remain masters of their destiny until the market eventually turns, ” said Nicolas Desombre, global co-head of investment banking of Citigroup in France. The pharmaceutical laboratories…

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