Tag - acquisitions

 
 

ACQUISITIONS

Japan Times
BUSINESS
May 21, 2024
Carlyle raises $2.8 billion for largest Japan buyout fund
It’s the largest Japan-focused buyout fund ever raised, according to Carlyle, and about 70% bigger than the previous one it pulled together in 2021.
Nippon Steel, Japan’s top steelmaker, is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh next week where he’ll meet with local staff and elected officials.
BUSINESS / Companies
May 18, 2024
Nippon Steel boosts efforts to woo U.S. Steel workers and politicians
Japan’s top steelmaker is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh, where he’ll meet with local staff and elected officials.
Toshiba announced on Thursday that it would cut up to 4,000 jobs as part of a restructuring plan.
BUSINESS / Companies
May 17, 2024
Toshiba takes advantage of private status to chart new course
The company has announced that it will cut up to 4,000 jobs as part of a restructuring.
Toshiba is cutting up to 4,000 jobs and relocating its head office from Tokyo to Kawasaki as part of its restructuring efforts.
BUSINESS / Companies
May 16, 2024
Toshiba to cut 4,000 jobs in restructuring effort under new ownership
Toshiba delisted in December due to a ¥2 trillion takeover by a consortium led by a private equity firm, capping a decade of scandal and upheaval.
French President Emmanuel Macron during an interview on the fringes of the Choose France summit in Versailles, France, on Monday
BUSINESS / Companies
May 14, 2024
Macron puts French banks in play with plan to transform Europe
Macron has been trying to persuade his EU partners to embrace reforms that he says would turn the bloc into a more united and powerful economic force.
Steelmakers' concerns about BHP's coking coal market power could derail a deal between BHP and Anglo American.
BUSINESS / Companies
May 10, 2024
BHP-Anglo American deal raises alarm in Japan's steel industry
Australia is the world's biggest exporter of coking coal and top supplier to Japan, making up around 60% of its imports.
The United States Steel's plant in Braddock, Pennsylvania. Nippon Steel is sticking to its plan to close a deal by year-end to buy U.S. Steel.
BUSINESS / Companies
May 9, 2024
Japan's Nippon Steel sticks to plan to close U.S. Steel deal by year-end
The takeover should bring Nippon Steel's global crude steel capacity to 86 million tons per year, close to its goal of 100 million.
SoftBank Group is in talks to acquire Graphcore, a struggling British semiconductor startup.
BUSINESS / Companies
May 9, 2024
SoftBank said to be in talks to buy troubled AI chip firm Graphcore
Graphcore reported just $2.7 million in revenue for 2022, a 46% drop from the prior year, according to its latest financial report.
Sony’s shares have dropped more than 5% this year, compared with a 16% gain in the Topix index, amid a global electronics slump.
BUSINESS / Companies
May 7, 2024
Sony shares fall as offer for Paramount spurs financing concerns
Investors are worried because the $26 billion proposal is larger than the Japanese electronics company's cash holdings.
U.S. President Joe Biden speaks at the United Steelworkers Union headquarters in Pittsburgh, Pennsylvania, on April 17. Biden made clear that he does not want the proposed takeover of U.S. Steel by Japan’s Nippon Steel to happen.
BUSINESS / Companies
May 4, 2024
Political furor over Nippon Steel's U.S. Steel bid puts investment panel in spotlight
Backlash over the deal has echoes of the 1980s when Nippon Steel tried and failed to buy another American metal company.
The U.S. Steel plant in Clairton, Pennsylvania
BUSINESS / Companies
May 3, 2024
Nippon Steel pushes back U.S. Steel acquisition until December
Nippon Steel has delayed acquiring United States Steel as the United Steelworkers union opposes the plan, along with U.S. President Joe Biden.
Activist investor campaigns are becoming more commonplace in Japan as the government and the Tokyo Stock Exchange encourage companies to boost shareholder returns.
BUSINESS / Companies
Apr 30, 2024
Elliott Management's Sumitomo stake reflects growing activism in Japan
Elliott has built a large holding in Sumitomo after investing several tens of billions of yen in the trading house backed by Warren Buffett.
Dai-ichi Life Holdings has begun to include more alternative investments in its ¥33.9 trillion portfolio, and is also looking at increasing mergers and acquisitions.
BUSINESS
Apr 18, 2024
Shifting market spurs Dai-ichi to adjust ¥33.9 trillion portfolio
The firm is cutting its holdings of domestic equities, which are surging, to avoid too much exposure to the asset class.
U.S. Steel said that over 98% of the votes were in favor of the deal under which Nippon will pay $55 per share, an amount that represented a hefty premium when the takeover was announced in December.
BUSINESS / Companies
Apr 13, 2024
U.S. Steel shareholders approve $14.9 billion buyout by Nippon Steel
The move takes the merger one step closer to completion even as political opposition to the deal mounts.
U.S. Steel's Edgar Thomson steel mill in Braddock, Pennsylvania
BUSINESS / Companies
Apr 11, 2024
How the U.S. Steel takeover became about Biden and swing states
The turmoil threatens to strain U.S. relations with Japan while underscoring how the politics of winning swing-state voters influences business.
A Wheeling-Nippon Steel facility in in Follansbee, West Virginia. Four senior Japanese officials speaking on condition of anonymity said it is still premature to declare the deal dead.
BUSINESS / Companies / ANALYSIS
Apr 5, 2024
Why Japan is not giving up on fraught U.S. Steel deal
Four senior Japanese officials speaking on condition of anonymity said it is still premature to declare the deal dead.
Akira Amari, a senior Liberal Democratic Party lawmaker, says Nippon Steel’s acquisition of United States Steel would help counter China’s dominance in steel-making.
BUSINESS / Economy
Apr 2, 2024
Japanese lawmaker says U.S. steel deal would help counter China risks
The $14.1 billion deal would be a win-win for both companies and both economies, said former minister Akira Amari.
Akihiro Fukutome, head of the Japanese Bankers Association, said new takeover guidelines from the industry ministry last year have helped lower psychological hurdles associated with unsolicited bids.
BUSINESS / Companies
Apr 1, 2024
Japan's banks less hesitant with hostile takeovers, lobby chief says
His comments offer evidence of a sea change in Japan — which once shunned hostile bids — that has helped bring it closer to Western-style dealmaking.
Tadashi Imai, who became Nippon Steel's new president on Monday
BUSINESS / Companies
Apr 1, 2024
Nippon Steel emphasizes its roots in the U.S. as it pursues deal
The Japanese firm has agreed to buy U.S. Steel for roughly $15 billion but the deal faces an uphill battle to approval in a U.S. election year.
U.S. Steel's Edgar Thomson Works facility is seen in Braddock, Pennsylvania. A group of automakers have warned that a deal by steelmaker Cleveland Cliffs for U.S. Steel could "drive up the cost of both steel and e-steel, and ultimately increase the cost of finished vehicles (including EVs) for American consumers."
BUSINESS / Companies
Mar 30, 2024
Automakers urge White House to oppose U.S. Steel sale to Cleveland-Cliffs
Cleveland-Cliffs has said it would consider another bid for U.S. Steel if the deal with Nippon Steel — opposed by President Joe Biden — falls apart.

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