Watermark
Go to Asia edition

LBOs to fly as activists poised to bring more M&A to Europe

As the shareholder acceptance deadline for German pharmaceuticals firm Stada’s €4.1bn buyout loomed on Thursday, there has been talk in the market about the rising influence of activist investors in Europe. Historically a largely US phenomenon, some market participants think Europe is set to experience a surge in shareholder activism of its own, shaking up the corporate landscape and inviting further leveraged buyouts, writes Max Bower.

  • By Max Bower
  • 22 Jun 2017

Bain Capital and Cinven’s planned €4.1bn public-to-private buyout of Stada was precipitated by a year-long campaign by activist shareholder Active Ownership Capital (AOC), which new Stada CEO Matthias Wiedenfels publicly thanked following the buyout agreement for its part in the deal.

Regardless of the Stada deal, however, Klaus ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial
Log in

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 BNP Paribas 21,063.54 101 7.76%
2 JPMorgan 16,658.31 60 6.14%
3 Deutsche Bank 16,649.26 62 6.13%
4 Credit Agricole CIB 16,001.24 81 5.90%
5 UniCredit 14,262.92 85 5.25%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 200.50 2 12.59%
1 Deutsche Bank 200.50 2 12.59%
3 UniCredit 113.00 1 7.09%
3 Sumitomo Mitsui Financial Group 113.00 1 7.09%
3 Mediobanca 113.00 1 7.09%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Bank of America Merrill Lynch 213.33 2 9.92%
2 UniCredit 130.00 1 6.05%
2 SG Corporate & Investment Banking 130.00 1 6.05%
2 JPMorgan 130.00 1 6.05%
2 Citi 130.00 1 6.05%