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- First Step to Final Offer (02/20/24)
First Step to Final Offer (02/20/24)
Brooks Gammill
February 20, 2024
Your weekly round-up of an M&A deal walkthrough, insightful market news summaries, technical quiz questions, and various internship, events, and diversity programs. A key resource to best prepare yourself for finance recruiting. If someone sent you the newsletter subscribe below!
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MARKET NEWS
Japan is no longer the world’s third-largest economy as it slips into recession (CNBC)
Japan has slipped to the fourth-largest economy behind Germany after unexpectedly entering a recession, marked by two consecutive quarters of contraction with GDP figures falling short of expectations. Investor optimism was tempered as the Nikkei 225 rose cautiously, reflecting market concerns over the potential delay in the Bank of Japan's exit from negative interest rates amid persisting economic challenges.
Nike to cut about 2% jobs to lower costs as demand weakens (Reuters)
Nike announced it will cut approximately 2% of its workforce, over 1,600 jobs, as part of cost-cutting measures due to softening demand for its products amid higher rental and interest rates. The move comes as Nike aims to implement a $2 billion savings plan over three years, focusing on streamlining supply chains and reducing management layers, amid competition from newer brands like Hoka and On Holding gaining market traction.
UK economy falls into recession, adding to Sunak's election challenge (Reuters)
Britain's economy slipped into recession in the second half of 2023, with GDP contracting by 0.3% in the final quarter, deeper than economists' expectations. Sterling weakened against major currencies, investors anticipated Bank of England rate cuts, and businesses sought government assistance ahead of the upcoming election, with Prime Minister Rishi Sunak's pledge to boost growth facing scrutiny amid challenges from Labour.
M&A DEAL OVERVIEW
Motor Fuel Group Acquires Morrisons’ petrol forecourt group for £2.5bn
Motor Fuel Limited (MFG) announced its acquisition of 337 Morrisons petrol forecourts and over 400 Ultra-Rapid EV sites for £2.5 billion, aiming to bolster its position in the UK's fuel retail market and expand into the EV charging sector. The deal, expected to close in H1 2024, will provide MFG with significant growth opportunities, though it faces integration challenges, financial implications, and uncertainties in the competitive landscape and regulatory compliance.
TECHNICAL QUESTION OF THE WEEK:
If you have an increase of $10 on the financial statements, what is the net effect on cash flow from operations (assume 50% tax rate)? |
ADDITIONAL RESOURCES
LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:
Correct Answer - B/S and I/S. An explanation submitted by one of our readers “You are able to build a cash flow statement with both the balance sheet and income statement. ”
AUTHOR
Written by Beckett Kreter