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Mergers & Acquisitions

Mergers & Acquisitions
The latest news, analysis and opinion on Mergers & Acquisitions. In-depth analysis, industry insights and expert opinion.
Diageo has been trimming its global holdings as falling alcohol consumption has impacted its attempts to get drinkers to trade up to pricier beverages. Photo: Reuters
Goldman Sachs

Johnnie Walker maker Diageo mulls options for China assets including sale: sources

Goldman Sachs and UBS are reviewing Diageo’s operations and are sounding out interest from local strategic buyers and private equity firms.

Artificial intelligence

Review of Meta-Manus deal underscores China’s tightening grip on AI exports

Banking & finance

What does HSBC’s buyout of Hang Seng Bank mean for its future and investors?

Energy

China’s Sinopec, CNAF to undergo consolidation, creating energy powerhouse

State Council approves reorganisation between Sinopec and China National Aviation Fuel Group, state asset regulator says.

A Sinopec worker walks past LNG storage tanks in Tianjin, China. Photo: Reuters
Banking & finance

Hang Seng Bank shareholders approve HSBC’s US$14 billion buyout plan

HSBC receives strong backing from Hang Seng Bank’s independent shareholders, getting 85.75 per cent of the votes.

United States

Warner Bros prefers Netflix, snubs Paramount’s updated takeover bid

Warner Bros board calls Paramount’s US$108 billion offer ‘risky leveraged buyout’ and reaffirms its commitment to US$82 billion Netflix deal.

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Artificial intelligence

China takes confident strides to develop more AI innovation in 2026

‘China’s tech innovation is poised for policy-driven growth in 2026, with AI placed at the centre of the country’s economic agenda,’ NYU’s Winston Ma says.

Illustration: Henry Wong
Semiconductors

China’s top contract chipmakers pursue acquisitions amid self-sufficiency drive

Hua Hong Semiconductor set to close a US$1.2 billion deal, days after SMIC says it will take full control of a subsidiary for US$5.8 billion.

India

Netflix-Warner deal sparks concern in India’s entertainment sector

Films in Indian cinemas could be screened for a shorter period before they move to Netflix’s streaming platform, an association warns.

Banking & finance

China’s M&A revival points to deeper investor confidence in growth prospects

Deal value is expected to rise, with strategic transactions and overseas ambitions driving momentum.

Sectors representing Chinese firms’ technology innovation will likely be the main engines of China M&A, including automobile components and life sciences, according to industry experts. Photo: Shutterstock
Mercedes-Benz

Mercedes-Benz buys US$191 million stake in Chinese autonomous driving developer

The German carmaker obtains a 3 per cent stake in Chongqing Qianli Technology.

The three-pointed star logo of German carmaker Mercedes-Benz. Photo: Getty Images
Retailing

‘C-beauty’ cosmetics brands find retail expansion outside China a slow slog

‘For established domestic cosmetics companies attempting to expand abroad, progress is still in its early stages,’ CLSA’s Chris Gao says.

Banking & finance

Global firms turn to M&A in EVs and biotech to deepen China investment: KPMG

Survey of multinational corporations finds optimism in life sciences, healthcare and manufacturing, with half forecasting revenue growth.

United States

Paramount vs Netflix: Ellison guarantees US$40 billion for son’s Warner Bros bid

Pledge from Oracle’s co-founder is designed to quell financing fears as Paramount fights Netflix for control of Warner Bros Discovery assets.

Oracle co-founder Larry Ellison has agreed to personally guarantee US$40.4 billion in equity financing for Paramount’s US$108.4 billion bid for Warner Bros. Photo: TNS
China stock market

Chinese brokerage CICC unveils merger details with Dongxing, Cinda

The three-way merger will create China’s fourth-largest investment bank with assets of US$128 billion.

CICC will issue some 3.1 billion new A shares at 36.91 yuan to acquire all outstanding shares in Dongxing Securities and Cinda Securities to facilitate the merger. Photo: CFOTO/Future Publishing via Getty Images
United States

Warner Bros rejects ‘inferior’ Paramount bid, backs Netflix merger

Warner Bros rebuffs Paramount’s hostile takeover, citing financial risks and backing Netflix merger as superior, stable, and shareholder-friendly.

Commodities

Chinese mining giant CMOC buys four Brazilian gold mines to expand

CMOC will own the Aurizona, RDM, Fazenda and Santa Luz mines, with 8 tons of combined annual gold output.

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Banking & finance

Hang Seng Bank shareholders to vote on HSBC buyout proposal on January 8

Hang Seng Bank’s independent financial adviser recommends that shareholders vote in favour of HSBC’s proposal to privatise the lender.

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HSBC is in the midst of finalising its takeover of Hang Seng Bank. Photo: Jelly Tse
Hong Kong property

Exclusive | Rosewood hotel brand of Hong Kong’s Chow Tai Fook is not for sale, sources say

The prestige brand has delivered ‘exceptional’ results, sources say, while suggesting that certain properties might be available.

Chow Tai Fook

Chow Tai Fook sells Australian energy assets for US$4.3 billion

Sembcorp Industries to acquire 100 per cent ownership of Alinta Energy, which Chow Tai Fook acquired in 2017.

Hong Kong property

Hong Kong’s Hang Seng University joins property rush with US$11.6 million deal

Acquisition of office units in Sha Tin’s Metropole Square follows Metropolitan University’s US$334 million purchase of Hung Hom property.

Hang Seng University is the latest school to purchase property amid a government push to turn the city into a global education hub. Photo: Jelly Tse
Semiconductors

Chinese supercomputer maker Sugon and chip developer Hygon call off merger plans

The aborted merger dashes industry expectations for a major domestic ecosystem covering advanced processors and high-performance servers.

Supercomputer maker Sugon remains the largest shareholder of chip designer Hygon. Photo: Handout
Hong Kong property

McDonald’s tastes fat profit in US$9.3 million Hong Kong property sale

Company secures 200 per cent gain in the fourth sale in an initiative to dispose of eight retail spots across the city.

Retailing

China’s Anta considers bid for Germany’s Puma amid 62% stock slump: sources

Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma and could team up with a private equity firm, sources said.

Commodities

BHP drops Anglo American bid again as rival rejects new proposal

BHP made the approach just weeks before shareholders from Anglo and Teck vote on a merger deal.

The logo of Anglo American is seen on a jacket of an employee at the Los Bronces copper mine in Chile. Photo: Reuters
Macau

SJM cancels plan to buy Ponte 16, but pursues deal for L’Arc Macau

SJM terminates acquisition plan a week after posting a 91 per cent fall in third-quarter net profit.

An aerial view of the Casino Grand Lisboa, one of the flagship properties in Macau of SJM Holdings. Photo: Handout
United States

Meta defeats US antitrust case over Instagram and WhatsApp acquisitions

The ruling gives Big Tech its first decisive win against the antitrust crackdown started in Trump’s first term.

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China trade

Nexperia fallout: chip spat reignites EU debate over Chinese investments

In aftermath of Netherlands’ controversial seizure, scrutiny looms over Chinese acquisitions, US influence and EU’s ability to balance security with open markets.

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