The battle lines in Broadcom’s hostile takeover bid of Qualcomm are still being drawn, but analysts see a handful of pivotal issues that could tip the scales for each side. Here’s what Qualcomm must do.Convince its fatigued shareholders that it’s more valuable than Broadcom’s offer of $70 per share.Complete its pending $38 billion acquisition of NXP Semiconductors to diversify beyond smartphones.Mend its ailing patent licensing business.Tell a 5G growth storyHighlight the regulatory hurdles of a Qualcomm/Broadcom mergerMake its case quickly. Shareholders will decide by March 6 annual meeting.What might Qualcomm do: The full storyWhen Broadcom proposed ousting Qualcomm’s board of directors on Dec. 4, it set in motion a high stakes chess match for control of San Diego’s most iconic technology company.The outcome could reverberate not only locally but throughout the tech industry — possibly changing the landscape for firms ranging from Apple to … [Read more...] about Hostile takeover: What might Qualcomm do to fend off Broadcom?
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M&G Investments has announced that it will reject a hostile takeover of Provident Financial by rival sub-prime lender Non-Standard Finance. The investment firm, which owns 1.7 per cent of Provident’s stock, has joined Schroders and Coltrane in confirming it will vote against the deal. Read more: Non-Standard Finance confident of watchdog support for £1.3bn Provident bid Shareholders of around 20.2 per cent of Provident shares have said they do not intend to accept the bid. However, NSF lowered the level of acceptances it needed to push forward with its takeover plans from 90 per cent to 50 per cent. “M&G is supportive of Provident’s current strategy and does not believe that a combination with NSF and subsequent break up of the enlarged group will create value for Provident shareholders,” M&G said in a statement this morning. Earlier this month NSF said that investors holding 53.53 per cent of Provident’s issued share capital had accepted … [Read more...] about M&G Investments rejects hostile takeover of Provident Financial
Provident Financial suitor wins more than 50% support for hostile takeover BelfastTelegraph.co.uk Provident Financial suitor Non-Standard Finance has said it has secured commitments for its £1.3 billion hostile takeover representing just over half of shares in the doorstep lender. https://www.belfasttelegraph.co.uk/business/uk-world/provident-financial-suitor-wins-more-than-50-support-for-hostile-takeover-37974387.html https://www.belfasttelegraph.co.uk/business/uk-world/article37974386.ece/1897a/AUTOCROP/h342/bpanews_54caf49a-183e-4482-b8c7-3f571ae32966_1 Email Provident Financial suitor Non-Standard Finance has said it has secured commitments for its £1.3 billion hostile takeover representing just over half of shares in the doorstep lender. Weekly Business Digest Newsletter Non-Standard said it has acceptances for 50.7% of Provident’s shares, although this includes the previously announced support from Woodford Investment Management, Invesco Asset Management … [Read more...] about Provident Financial suitor wins more than 50% support for hostile takeover
Provident Financial swings to profit while bracing against hostile takeover BelfastTelegraph.co.uk Provident Financial has swung to a profit on lower costs as the doorstep lender ramps up its defences against a £1.3 billion hostile bid. https://www.belfasttelegraph.co.uk/business/uk-world/provident-financial-swings-to-profit-while-bracing-against-hostile-takeover-37908594.html https://www.belfasttelegraph.co.uk/business/uk-world/article37908592.ece/cf282/AUTOCROP/h342/bpanews_402c2694-ad1c-4dc9-a322-8bf48ee8c2fe_1 Email Provident Financial has swung to a profit on lower costs as the doorstep lender ramps up its defences against a £1.3 billion hostile bid. Weekly Business Digest Newsletter The firm made a pre-tax profit of £90.7 million last year compared with a £147.9 million loss a year earlier. Adjusted pre-tax profit, the company’s preferred measure, increased to £153.5 million from £84.2 million. Revenue, however, slipped to £1.12 … [Read more...] about Provident Financial swings to profit while bracing against hostile takeover
Ethel Jiang, provided by Published 10:26 am CST, Wednesday, February 6, 2019 AP Photo/Ted S. Warren Aphria on Wednesday said it has rejected Green Growth Brands' hostile-takeover bid. Green Growth Brands late last month said it filed an offer to acquire all Aphria outstanding common shares through an all-stock deal that would give Aphria shareholders 1.5714 common shares of Green Growth for each of their shares. Aphria said the proposal undervalued the company, reflecting a 23% discount to its average share price over the same period. Watch Aphria trade live. The Canadian cannabis producer Aphria was down 7% Wednesday after the company rejected Green Growth Brands' hostile-takeover bid. Green Growth, a US-based marijuana company, on January 23 offered to acquire all Aphria outstanding common shares through an all-stock deal. The offer would have given Aphria shareholders 1.5714 common shares of its stock for each Aphria share. Green Growth first announced its … [Read more...] about Cannabis producer Aphria just rejected Green Growth Brands’ $2 billion hostile-takeover bid (APHA)