Chances Are You Missed These M&A Deals


Chances Are You Missed These M&A Deals

AT&T (NYSE: T) mega-merger proposal with Time Warner (NYSE: TWX) is dominating the news headlines which means several other M&A deals are going unnoticed by many investors.

ACCO Brands To Acquire A European Office Products Company

Acco Brands (NYSE: ACCO), a designer, marketer and manufacturer of branded business, academic and consumer products, announced on Monday it has agreed to acquire Esselte Group, a European-based office products company.

As part of the agreement, Acco Brands will buy Esselte Group from J.W. Childs, a private equity firm, for $330 million in cash.

Esselte Group’s total sales in 2015 were $45 million and its adjusted EBITDA totaled $60 million.  Acco Brands expects the acquisition to create an annualized cost synergie of around $23 million within three years and generate $0.12 in earnings per share accretion of $0.12 in just the first 12 months.

The deal is also expected to complement Acco Brands’ existing European sales footprint and add new brands and products in different categories.

Merger Of Stock Brokers

TD Ameritrade Holding (NASDAQ: AMTD), one of the largest providers of securities brokerage services and related technologies, announced that it has reached an agreement to acquire a rival firm, Scottrade for $4 billion.

TD Ameritrade expects the deal to generate approximately $450 million in annual expense savings and more than $300 million in additional longer-term opportunities.  

The transaction will also add to TD Ameritrade’s already significant scale and extend its leadership position in trading – not to mention increasing the size of its branch network by a factor of more than four.

The deal will see the creation of an entity with 600,000 client trades per day, $944 billion in client assets, 10 million accounts, $14 billion in margin balances and $149 billion in cash balances.

Genworth Financial Finds An Overseas Buyer

Genworth Financial (NYSE: GNW), a mortgage insurance provider, announced that it has agreed to sell itself to China Oceanwide, China-based family owned financial group founded by Lu Zhiqiang, a self-made billionaire investor.

Genworth Financial’s investors will receive $5.43 per share as part of a transaction which values the firm at $2.7 billion.

The billionaire investor has pledged to inject $600 million of cash to address Genworth Financial’s debt which is due in 2018 along with $5245 million in cash to support its life insurance business.

New York Times Buys Product Recommendation Services

The New York Times (NYSE: NYT) announced that it has agreed to acquire The Wirecutter and its sister company, The Sweethome, two product-recommendation services in an all-cash transaction.

The Wirecutter and The Sweethome is designed to help its users find great things, quickly and easily.