M&A Deal News – August 21, 2019

August 21, 2019 | News, Private Equity

A new Osram suiter, Avaya finds an alternative to Mitel, an Italian-French merger, and Goldman takes China. Let’s look at Wednesday’s M&A Deal News.

M&A Deal News – August 21, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space. Therefore, here’s our recap for Wednesday afternoon.

Private Equity Deal News

To get started, we’ve been paying close attention to the ongoing battle to acquire German light manufacturer Osram.

Based on new reports, Bain Capital and Carlyle Group will need to raise their bid. According to Reuters, Osram will likely waive a clause that would prevent Austrian financiers at AMS from making an offer. AWS is reportedly offering a double-digit premium to the latest bid from the U.S. private equity giants.

Meanwhile, Private equity giant Clayton Dubilier & Rice is set to make an all-cash offer for telecom vendor Avaya Holdings. The target is considering the deal, according to reports. It has been in the subject of merger talks with Mitel Networks in recent days.

Finally – Thoma Bravo portfolio company Quorum Software announced it purchased Fort Worth-based OGsys, a firm that makes cloud-based oil and gas accounting software. The firms did not disclose deal teams. They did note, however, that Kirkland & Ellis LLP was legal adviser to Quorum. Holland, Johns & Penny LLP did likewise to OGsys.

European M&A Deal News

Next, we have two major European car companies talking separate deals.

  • Notably, the chatter is back for a deal between Fiat Chrysler and Renault. The key roadblock remains that France will need to cut its national interest in the automaker.
  • To follow that speculation, reports indicate that Rolls Royce is seeking a deal to unload its French nuclear division.
  • In European real estate news, Regional REIT purchased six office assets (172,442 square feet) in the United Kingdom for 25.9 million pounds. The offices are located in Birmingham, Bristol, Cardiff, Chester, Glasgow, and Manchester.

Goldman Takes China

Finally, Goldman Sachs is seeking approval from the Chinese government to gain majority control of its Chinese joint venture. The move comes ahead of China’s proposals to allow more foreign ownership and investment in the world’s second-largest economy.

Meanwhile, the investment bank’s buy division is considering a deal to unload Safe-Guard Products International.  Reuters reports a deal for the auto warranty company could come in around $1 billion-plus debt.

For deal news from yesterday, August 20, click here.

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