Category: M&A

China Remains High-Bid on U.S. Takeovers

The Chinese continue to have a huge appetite for U.S. companies and are paying up for the privilege.  Just days after Terex said it will entertain an offer from Chinese rival Zoomlion, China’s Anbang now has the upper-hand to gain control of hotel giant Starwood Hotels & Resorts Worldwide (NYSE: HOT).

Starwood determined Monday that a revised $82.75 in cash, non-binding proposal from a Anbang Insurance Group-consortium is reasonably likely to lead to a “Superior Proposal” over its current merger agreement with Marriott International, Inc. (NASDAQ: MAR).

Of course, all of this is being driven by easy financing from China‘s mother banks.


China Nabs Another U.S. Company

China continues to grab up U.S. companies, helped in large part by financing from the country’s centrally-controlled banks.  After the close of trading Wednesday it looks like they are well on their way to get another one. Terex Corporation (NYSE: TEX) said it will move forward with negotiations after it received a revised $31/share cash offer from China-based Zoomlion.

Over the past six years, state-owned Bank of China said it has extended $56.3 billion worth of loans to fund 188 overseas acquisitions. Continue reading “China Nabs Another U.S. Company”

Big Bank, Bigger China

It looks like China’s government controlled banks are funding the big overseas M&A push witnessed over the past several years as growth in the country wanes.

According to a reports from Reuters:

State-owned Bank of China said it has extended $56.3 billion worth of loans to fund 188 overseas acquisition deals by Chinese companies in the past six years, highlighting how local firms are seeking inroads into overseas markets as growth slows at home.

The latest example was China’s Anbang entering the bidding war Marriott (NASDAQ: MAR) for control of Starwood Hotels and Resorts Worldwide Inc (NYSE: HOT).