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- First Step to Final Offer (04/09/24)
First Step to Final Offer (04/09/24)
Brooks Gammill
April 09, 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
Global equity funds see outflows amid uncertainty over rate cut timing (Reuters)
During the week ending April 3, investors trimmed holdings in global equity funds amid concerns over the possibility of fewer Federal Reserve interest rate cuts, driven by strong U.S. economic reports. Conversely, bond funds experienced the largest weekly net purchase in four weeks, with significant demand seen in medium-term U.S. dollar bonds and corporate and government debt funds.
PIMCO trims 2024 Fed rate cut expectations to 2 after jobs report (Reuters)
PIMCO, a major U.S. bond firm, has revised its expectations for Federal Reserve interest rate cuts this year to two, down from a previous estimate of two to three, citing stronger-than-expected job creation in March. The market reacted with a reduction in expectations for rate cuts, with U.S. Treasury yields rising, while PIMCO adjusted its portfolio strategy, shifting away from an underweight duration position as it believes the economy can handle higher rates
Loss of engine cover on Southwest Boeing 737-800 prompts FAA investigation (Reuters)
An engine cover on a Southwest Airlines Boeing 737-800 fell off during takeoff in Denver, striking the wing flap and prompting an investigation by the Federal Aviation Administration (FAA). The flight, bound for Houston Hobby airport, safely returned to Denver International Airport with no injuries reported, and Southwest maintenance teams are reviewing the aircraft, which entered service in June 2015. The incident comes amid ongoing scrutiny of Boeing aircraft, with the FAA investigating other recent engine issues on Southwest's fleet of Boeing planes.
M&A DEAL OVERVIEW
Renesas Acquires Altium for ~$5.8bn
Renesas Electronics Corporation's $5.8 billion acquisition of Altium Limited marks a strategic move to diversify its business beyond automotive industries and expand into data centers and consumer devices, despite initial investor concerns evidenced by a 4.9% share price drop. The integration of Altium's cloud platform capabilities is expected to drive long-term innovation and strengthen Renesas' position in the global semiconductor market, although uncertainties remain regarding financial leverage and integration challenges.
TECHNICAL QUESTION OF THE WEEK:
Which valuation model would most likely yield the highest valuation? |
ADDITIONAL RESOURCES
LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:
Correct Answer - Cash Flow Statement: The cash flow statement is preferred as it not only provides a direct view of a company's liquidity through actual cash inflows and outflows, but also allows for the reconstruction of the other two financial statements, offering a comprehensive insight into the company's financial health.
AUTHOR
Written by Beckett Kreter