Dealcast: The M&A Podcast

This week’s Dealcast examines global changes in merger control. In Europe, Competition Commissioner Vestager is nearing the end of her term in office. Remedies in the recent approval of the Bayer /Monsanto deal highlight the EC’s focus on innovation. A CFIUS-style framework to scrutinise foreign investment is also on the horizon. In China, a newly established agency took over the merger control functions of existing agencies on 20 April. But will the State Administration for Market Regulation or SAMR review deals any differently to predecessor MOFCOM? In the US, the DoJ’s trial against AT&T/Time Warner is the first vertical merger challenged for 40 years and could have sweeping implications going forward. The FTC is on the cusp of having only one commissioner, whilst CFIUS – following the blocking of Broadcom’s attempt to acquire Qualcomm – is set to have its powers expanded. With Julie-Anna Needham, Francesca Micheletti, Joseph Tipograph and Qianwen Lu

Takeda has until 25 April to make an offer for Shire or walk away. But with some scepticism amongst Shire shareholders, the Japanese suitor will have work to do to win support, if it proceeds with a firm bid. Katrien Van Hoof and Swetha Gopinath discuss the bidder's financing options and its listing dilemma.

European IPO activity year-to-date has beaten last year’s total issuance by far, with a total of EUR 11.6bn raised across 41 deals. DACH IPOs dominated, with Siemens Healthineers’ EUR 4.2bn offer and Deutche Bank’s DWS EUR 1.46bn IPO grabbing headlines. But not all deals are being met with the same enthusiasm. ECM Editor Sofia Cerqueira and senior reporter Katrien Van Hoof discuss the main trends seen in the first quarter and the challenges that lie ahead for those queuing in the IPO pipeline.

The long-running review of Bayer’s bid for Monsanto is among the topics discussed by the European Competition Commissioner Margrethe Vestager in this week’s Dealcast. The Commissioner tells us why more cases are cleared with a simplified procedure, and gives us her thoughts on innovation and data. With Julie-Anna Needham and Francesca Micheletti.

This week's Dealcast looks a major deal in the tech industry. Broadcom has increased its bid for Qualcomm. Now Qualcomm must decide whether to engage with its suitor and whether to increase its own offer for NXP. Decisions, decisions.... with Julie-Anna Needham and Samantha Tomaszczyk

GKN has accused Melrose of offering a "fake premium" in its hostile bid for the automotive and aerospace group. Both companies are attempting to woo shareholders by convincing them their team is best placed to run GKN. But who will succeed? With Katrien Van Hoof, Julie-Anna Needham & Amit Rawtani

Fixed-odds betting terminals - or FOBTs - and their role in GVC’s takeover of Ladbrokes Coral are the focus of this week’s Dealcast. The outcome of a UK Government review, expected to cut earnings from FOBTs, will decide the final amount that the bidder pays. With Julie-Anna Needham, Deane McRobie and John Ward.

This week's podcast looks at shareholder views on the GBP 2.7bn offer for US Cinema chain Regal from Cineworld. The bidder will increase its leverage and undertake a significant rights issue to fund the deal, prompting some concern from investors. With Julie-Anna Needham and Swetha Gopinath.

Find out the latest on UK competition approval for 21st Century Fox's takeover of Sky in this edition of Dealcast. Shareholder activism is on the rise across Europe. We hear from a Swiss activist shareholder about his approach. With Julie-Anna Needham, Samantha Tomaszczyk and William Mace

Dealcast is a fortnightly podcast from the Dealreporter and Activistmonitor teams covering M&A, ECM and activism. The bidding war for Abertis is examined in this week’s podcast, with the merits of rival offers from Hochtief and Atlantia considered. Whilst the Spanish regulator reviews Hochtief’s bid could Atlantia return with a higher offer? The future of Oxo and Mr Kipling maker Premier Foods is also assessed. With two activist investors, attention has shifted to operational performance following a failed takeover approach. With Julie-Anna Needham, Alessandra Castelli and William Cain.