Here’s your Cheat Sheet to this week’s top mergers and acquisition news:
The Blackstone Group (NYSE:BX): Current price $20.75
According to Sky News, the two private equity firms Blackstone and Lion Capital are working jointly to submit a formal bid for two soft drinks put on the block by GlaxoSmithKline (NYSE:GSK), which is a FTSE-100 pharmaceuticals maker. Blackstone and Lion have recruited bankers at Rothschild to advise them on their bid. Back in 2005, the companies purchased the European beverages division of Cadbury-Schweppes, divesting it four years afterwards to the Japanese food and drink producer Suntory, for about 1.5 billion pounds. Suntory is now one of the rival bidders to Blackstone and Lion in the current auction.
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