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- First Step to Final Offer (03/26/24)
First Step to Final Offer (03/26/24)
Brooks Gammill
March 26, 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
Hedge funds flock to Europe, ditch US stocks (Reuters)
Global hedge funds are favoring European stocks over North American equities amid concerns about expensive U.S. markets, with European equities trading at lower valuations. Morgan Stanley's data shows hedge funds increasing long positions in Europe, particularly in sectors such as information technology services and semiconductors.
Poverty in Italy hits new high despite economic recovery (Reuters)
Italy's absolute poverty rate rose to 9.8% in 2023, the highest in about a decade, despite economic recovery since COVID restrictions eased, with around 5.75 million people unable to afford essential goods and services, according to ISTAT data. Despite an overall economic rebound and increased employment, poverty has steadily risen since 2014, with the phasing out of poverty-relief subsidies exacerbating the situation for the poor.
EU launches probe into Meta, Apple and Alphabet under sweeping new tech law (CNBC)
The European Union launched its first investigation under the Digital Markets Act, targeting tech giants Apple, Alphabet, and Meta, focusing on anti-steering rules and concerns over favoritism in search results and services. These probes address issues like Apple's App Store rules, Alphabet's search practices, and Meta's ad-free subscription model, with potential fines of up to 10% of the firms' global turnover if found in violation. The investigations reflect the EU's effort to ensure compliance with regulations and prevent anti-competitive behavior among large tech companies.
M&A DEAL OVERVIEW
Renesas Acquires Altium for $5.8Bn
Renesas Electronics Corporation intends to purchase Altium Limited for $5.8 billion, aiming to create an open electronics design platform and expand beyond automotive into data centers and consumer devices. Despite initial investor concerns, the acquisition is expected to bring long-term benefits, including revenue synergies and strategic resilience in global markets. Renesas anticipates leveraging Altium's cloud platform for innovation in the semiconductor industry.
TECHNICAL QUESTION OF THE WEEK:
In an M&A deal, what is typically the most desirable way to pay for the deal? |
ADDITIONAL RESOURCES
LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:
AUTHOR
Written by Beckett Kreter