Banking M&A Digest #128 (3.6.2021)

Posted by

Corporate Financier’s Notes by Aivars Jurcans

Done! And Done

Old National Bancorp and First Midwest Bancorp have agreed to merge in an all-stock deal valued at about USD 6.5 billion. The combined entity will have USD 45 billion in assets.

Source: Reuters

Deals On The Table

Iceland is said to have launched a privatisation of Islandsbanki, a state-owned lender which was formed in 2008 from the domestic assets of Glitnir (an Icelandic bank that imploded in the financial crisis).

Source: FT

Generali, an Italian insurer, is said to be planning to launch a takeover bid for Cattolica, its smaller rival, between late September and early October. The offer is expected to amount to EUR 1.17 billion.

Source: Reuters

Up-and-Comers

Marqeta, a payments startup, is said to be aiming for a valuation of more than USD 12 billion in its US initial public offering. Marqeta, which helps companies issue credit and debit cards to their staff, reported revenues of USD 290.3 million in 2020.

Source: Reuters

Bought By Many, a UK insurtech, has raised USD 350 million in a funding round that valued it at more than USD 2 billion. The company specialises in providing cover and services for almost half a million pets worldwide.

Source: FT

Wefox, a Berlin-based insurance technology firm, has raised USD 650 million in a funding round that values the company at USD 3 billion.

Source: FT

Exciting Numbers

According to Knight Frank, in the next 4 years the number of people worth USD 30 million or more will have grown by 141,055, collectively worth more than USD 4.23 trillion

Source: FT

A Thought Worth Noting

“We’re in an asset bubble. It’s everything. It’s not particular to high-yield bonds, or to bonds, or stocks. It’s real estate, it’s private equity, it’s everything. The way I describe it is, we’re in a low return world… How do you make a decent return in a low return world? The answer is: it’s hard.”

Howard Marks, co-founder, Oaktree Capital Management

To receive your personal weekly copy of Banking M&A Digest please subscribe at http://eepurl.com/gepqdP

Aivars Jurcans has more than 20 years of corporate finance and investment banking experience. His services are currently available through MURINUS ADVISERS.

Design by Artis Briedis, Photo by Joe Taylor on Unsplash

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s