10/3/2016 Global Mergers Decline in Third Quarter

Deal-making slowed down when the markets calmed down from the Brexit and Deutsche Bank’s hurricane. The dollar volume of M&A worldwide was down 22% for the year as of Thursday compared with the same period last year. The case was worse in United States. (Reference)


10/23/2016 AT&T’s Bid for Time Warner

The CEO of Time Warner, Jeffrey Bewkes, agreed to sell Time Warner to AT&T for $85 billion, a deal that will reshape the media and telecommunications world. AT&T is paying a 35% premium to Time Warner’s stock price. The telecommunication conglomerate is going to have its rivals pay higher price for carriage of channels such as HBO and CNN, while integrating these channels into new AT7T offerings at lower prices. Randall Stephenson, AT&T’s chief executive, dismissed this notion. He contents that the merger can let AT&T provide data to Time Warner so as to “create specialized, interactive programming for AT&T’s mobile customers.” Although AT&T might not be able to use Time Warner’s channels to beat its competitors, it may leverage Time Warner’s team to create attractive options that are exclusive to AT&T service. (Reference)


10/24/2016 China’s Aggressive Deal Makers

HNA Group is purchasing a 25% stake in Hilton Worldwide Holdings Inc. from Blackstone Group LP for $6.5 billion. Chinese companies’ overseas acquisitions have hit a record $199 billion so for this year. However, they were late to the global commodity market and often ended up overpaying for leftover assets. China’s government has financed the outward acquisitions through a patchwork of state funds and released new rules to speed up the approval process for overseas investments. (Reference)