News 

Dutch insurer NN Group’s second-quarter profit jumps 25 percent, beats estimates

“Dutch insurer NN Group on Thursday said its second-quarter core profit jumped 25 percent to 508 million euros ($578.4 million), as it continued to benefit from the takeover of smaller rival Delta Lloyd” reports cnbc.com. Net income nearly doubled to 463 million euros, leading to a 6 percent rise in the insurer’s interim dividend, to 0.66 euros per share.The insurer said in May the takeover would lead to a total cost savings of 400 million euros by 2020.Analysts polled by Reuters on average had predicted operating result to rise 6…

Read More
News 

Disney offers sweetener to retain Sky chief

“Disney is seeking to keep Sky chief executive Jeremy Darroch and his lieutenants on board for two years if it wins the takeover battle for the pay-TV operator alongside the Murdoch family” writes Tom Stevenson for telegraph.co.uk. Under the planned incentive scheme, Sky executives would be granted shares in Fox if it beats Comcast to win control. Source: telegraph.co.uk Share This:

Read More
News 

Profit surges at 21st Century Fox as Disney takeover looms

“21st Century Fox, the media firm preparing to sell key assets to Walt Disney Co., posted a surge in profit in the three months through June amid box-office success for the superhero film “Deadpool 2.”” writes Evan Agostini Invision for washingtonexaminer.com. Critics of Disney’s acquisition of businesses like the 20th Century Fox film studio point to, among other things, the increased negotiating leverage the new entity will have over movie theaters. “Deadpool 2” has, to date, grossed over $730 million, which supported a 6.2 percent revenue increase at Fox’s film…

Read More
News 

Fox posts offer document for Sky deal

“Fox now intends to implement Sky’s acquisition by way of a takeover offer rather than a scheme of arrangement, as described in the Companies Act 2006, with the deal conditional on 75 percent or more Sky shareholders accepting the offer” reports businessinsider.com. Fox’s current offer still lags Comcast Corp’s 14.75 pounds a share bid, leaving the world’s biggest entertainment group in the lead of the long-winded takeover battle for the British pay-TV group. Source: businessinsider.com Share This:

Read More
News 

China says it is still open to talks on scrapped Qualcomm-NXP takeover

“The Chinese regulator said on Friday that it was open to continuing negotiations over approving the deal” writes Midwest Communications Inc for 95kqds.com. There was no word from SAMR, the antitrust regulator reviewing the deal, as the deadline for the deal to expire passed.When asked for a comment on SAMR’s statement, a Qualcomm spokeswoman pointed to the announcement of the deal’s termination.China’s commerce ministry said on Thursday the Qualcomm case was about anti-monopoly issues, and not related to China-U.S. trade frictions. Source: 95kqds.com Share This:

Read More
News 

Qualcomm drops $44bn takeover of NXP as China-US tensions mount 

“Qualcomm has scrapped plans for a $44 billion takeover of NXP Semiconductors after China failed to grant approval for the deal, amid growing tensions over trade” writes Telegraph Reporters for telegraph.co.uk. In the latest sign of a growing trade spat between Washington and Beijing, the world’s largest smartphone chipmaker, America’s Qualcomm, confirmed in a statement earlier that the deal, which was first announced in 2016, had been terminated. It would have been the biggest semiconductor deal globally and its collapse is likely… Source: telegraph.co.uk Share This:

Read More
Markets News 

Qualcomm to Scrap NXP Deal as Deadline Passes for China Approval

“In a separate statement, NXP said it had received notice from Qualcomm that the deal was dead” writes Ian King for bloomberg.com. China said the deal has nothing to do with trade tensions.Qualcomm Inc. has scrapped its $44 billion bid for rival chipmaker NXP Semiconductors NV after China failed to approve the industry’s largest-ever deal before a final deadline.Qualcomm formally walked away after Chinese regulators didn’t approve the deal by a deadline of midnight in New York on July 25.Qualcomm is also once again the target of a takeover attempt…

Read More
News 

After exiting battle for Fox, Comcast fires ‘warning shot’ to Disney over Sky takeover, analyst says

“Comcast is ratcheting up the pressure on Disney over its pursuit of Sky, analysts told CNBC on Friday, shortly after it dropped out of the race to acquire Twenty-First Century Fox” writes Jeff Chiu for cnbc.com. The trans-continental bidding war between Comcast and Disney had become one of the most intriguing media battles for decades, given the sheer scale of money on the table and the two CEOs’ well-known contempt for one another.Comcast announced Thursday that it would drop out of the race to acquire Fox’s assets, paving the way…

Read More
News 

Comcast drops pursuit of Fox after forcing Disney to pay billions more

“Comcast, the cable provider that attempted to snatch Twenty-First Century Fox’s movie and television assets from would-be buyer Walt Disney Co., has abandoned the bidding war it started” writes Evan Agostini Invision for washingtonexaminer.com. Disney made an all-stock offer of $52.4 billion for Fox’s assets last year, which Comcast topped with a $65 billion all-cash bid when the U.S. government lost a court battle to block a separate content deal between AT&T and Time Warner.Disney responded with a cash-and-stock proposal of $71 billion, landing a deal that would widen its…

Read More
News 

Comcast to pay advisers as much as 243 million pound in fees for Sky takeover

“Legal advice will cost it between 15.2 million pounds and 20 million pounds” reports businessinsider.com. The cable giant will also pay between 22.7 million pounds and 37.8 million pounds to the firms that are providing it with financial advice.Meanwhile, Sky expects to spend between 88.6 million pounds and 95.9 million pounds on advice and other expenses relating to the Comcast offer, the document shows.The broadcaster estimates it will pay Barclays, Morgan Stanley, and boutique firm PJT Partners between 59.5 million pounds and 61.5 million pounds for their financial advice, according…

Read More