Bid/ask: Mon­santo holds out for more; GE will help the Saudis move be­yond oil

Bloomberg Businessweek (North America) - - Contents - By Karen Weise

$62b

Mon­santo plays hard to get. The agri­cul­tural gi­ant re­jected Bayer’s takeover bid as too low but said it’s open to talks. Buy­ing Mon­santo would make Bayer the world’s big­gest sup­plier of farm chem­i­cals and seeds. Con­sol­i­da­tion in the in­dus­try may end up leav­ing just a few global com­pa­nies that can of­fer a com­pre­hen­sive range of prod­ucts and ser­vices to farm­ers.

$5.4b

A fer­til­izer deal falls apart. In the lat­est plan to col­lapse af­ter the U.S. adopted rules to curb tax in­ver­sions, Illi­nois-based CF In­dus­tries Hold­ings aban­doned its pur­chase of Dutch ri­val OCI.

$3.4b

Money buys money. Ares Cap­i­tal, a lender and pri­vate eq­uity firm, plans to buy as­set man­ager Amer­i­can Cap­i­tal, which had been un­der pres­sure from ac­tivist in­vestor El­liott Man­age­ment.

$3b

GE in­vests in Saudi Ara­bia’s fu­ture. Gen­eral Elec­tric will team up with a state-owned in­vest­ment com­pany to build in­dus­trial fa­cil­i­ties to re­duce the Saudi econ­omy’s de­pen­dence on oil.

$2b

An in­surer goes smoke-free. Axa, France’s largest in­sur­ance com­pany, says it will di­vest its as­sets in the to­bacco in­dus­try, in­clud­ing sell­ing stock and re­tir­ing bond hold­ings as they ma­ture.

$340m

En­er­gizer smells good. The bat­tery maker will buy Hand­stands, which makes car fresh­en­ers. It’s En­er­gizer’s first ac­qui­si­tion since spinning off its per­sonal-care-prod­ucts busi­ness last year.

$160m

Lend­ing­club has a new share­holder. Com­pa­nies con­trolled by Chi­nese bil­lion­aire Tian­qiao Chen dis­closed a stake to­tal­ing as much as 11.7 per­cent of the em­bat­tled on­line loan mar­ket­place.

$70.5m

Tri­bune gets a white knight. Af­ter re­ceiv­ing an in­vest­ment from bil­lion­aire Pa­trick Soon-sh­iong’s Nant Cap­i­tal, the news­pa­per pub­lisher re­jected Gan­nett’s $864 mil­lion takeover of­fer.

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