Investigative Antitrust/M&A/Pre-Event Reporter. Insights and updates. Views are my own
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Articles by Diane Alter
Biden's data-related EO to extend scrutiny of China outbound US investment beyond CFIUS – lawyers - ION Analytics
China’s investment in targets controlled by third country can be captured under EO EO expands CFIUS’s definition of sensitive personal data A deal could simultaneously trigger CFIUS and the EO Healthcare deals come under the spotlight Data transfer restrictions increase workload for companies, investors The new Executive Order (EO) signed by US President Biden on 28 February aiming to prevent the bulk transfer of sensitive personal data of US citizens to countries of concern could extend...
Elevance Health not pursuing Cigna Medical Advantage auction
Elevance Health [NYSE:ELV] did not submit a final bid for Cigna’s [NYSE:CI] Medicare Advantage business last week, according to three sources familiar with the situation. Last week, Bloomberg reported that Elevance Health, the Indianapolis-based health benefits company, was competing with HCSC to acquire Cigna’s Medicare Advantage business.
L3Harris likely to seek more disposals after avionics
Public By Richard Tekneci, Diane Alter, Bhavna Kaul L3Harris Technologies [NYSE:LHX], the aerospace and defense company, is expected to look at further asset sales after the divestiture of its avionics business, an effort which is at an advanced stage, said three sources familiar with the matter. Two of the sources said L3Harris continues to look at rejiggering its segments and this will likely lead to more divests of businesses that may not fit.
National Instruments/Emerson: SAMR receives third-party complaint; implications...
China’s State Administration for Market Regulation (SAMR) has received at least one complaint regarding US industrial conglomerate Emerson Electric (Emerson) [NYSE:EMR]'s acquisition of electronic test and measurement supplier National Instrument (NI)[NASDAQ:NATI], according to three sources familiar with the matter. The complaint came during the comment seeking process following SAMR’s acceptance on 26 July of Emerson's filing under the regulator’s simplified review procedure.
L3Harris calls for initial bids in avionics divest, sources say
L3Harris Technologies [NYSE:LHX], the aerospace and defense company, is collecting initial bids in early August for the divest of a package of avionics assets, said three sources familiar with the matter. The assets being sold have USD 100m to USD 150m in EBITDA, the three sources and a fourth source familiar said. Melbourne, Florida-based L3Harris is working with financial advisor Morgan Stanley on the divest, as reported by this news service earlier this month.
Deadlines loom as Intel and MaxLinear try to close China chip deals
Intel [NASDAQ:INTC] and MaxLinear [NASDAQ:MXL] appear to have been making serious efforts with Chinese authorities in the past few weeks to get their respective acquisitions of Israel-based Tower Semiconductor [NASDAQ:TSEM] and Taiwan-based Silicon Motion [NASDAQ:SIMO] across the line. These efforts, which involve each party presenting Chinese officials with various solutions, will likely have been welcomed by China’s semiconductor stakeholders.
IBM Negotiating Timing Agreement for Red Hat Acquisition
IBM is presently negotiating a timing agreement with the U.S. Department of Justice regarding its $34 billion all-cash offer for Red Hat, CTFN has learned. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Regulators See Sprint/T-Mobile Efficiencies as Less Persuasive
Updated at 2:32pm EDT March 12, 2019: Efficiency arguments from Sprint and T-Mobile regarding their $26.5 billion merger are not proving as persuasive with regulators in the U.S. Department of Justice as initially believed, CTFN has learned. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Beta Testing of PacBio’s New System Progressing
Pacific Biosciences announced February 11 that in January five centers began beta testing the SMRT Cell 8M chip and platform, what it calls the Sequel® II System. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
MNG Still Lining up Financing For Gannett Bid
MNG Enterprises continues work to secure financing for its $12 per share cash offer for Gannett, it is understood. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
DOJ Staff Make Aggressive Demands of Sprint/T-Mobile
With additional reporting by Robert W. Welkos – Staff at the U.S. Department of Justice have asked for an aggressive remedy package in developing their recommendation on the Sprint/T-Mobile merger, two people close to third parties in the case told Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Bemis/Amcor Update
The U.S. Department of Justice continues its review of Amcor Ltd.’s $6.8 billion all-stock deal for Bemis, CTFN has confirmed. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
US Regulators Expected to Clear Gemalto/Thales As Early As This Week
The U.S. Department of Justice will likely approve Thales’ acquisition of Gemalto as early as this week, several sources said. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
DOJ Staff Could Make Recommendation on Sprint/T-Mobile Soon
Staff at the U.S. Department of Justice is likely to make its recommendation regarding the $26.5 billion Sprint/T-Mobile merger as early as this Friday, CTFN has learned. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Thales’s HSM Auction Robust
An auction for Thales’s general purpose hardware security modules unit, a required divestiture to address antitrust concerns regarding its $5.4 billion acquisition of rival Gemalto, is advancing. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Catalog Companies Center Stage in DOJ Review of LSC Communications-Quad/Graphics
Catalogue companies have moved into the lens of the Department of Justice’s antitrust division as it reviews the merger of LSC Communications and Quad/Graphics, sources told CTFN. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Day 3: Sprint/T-Mobile Hearings at the CPUC
Thank you for your interest in CTFN content. To read this story, please Request A Free Trial CTFN is your source for in-depth news coverage on mergers, events, and major corporate actions, reported with the detail and accuracy commensurate with a professional investor’s perspective.> To learn more about our team’s reporting, please view the Insights section, or contact info@CTFN.news Ed Roberts Ed Roberts began reporting for CTFN in September of 2014.
NxStage/Fresenius Likely Next Test for Divided Commission
The U.S. Federal Trade Commission has been reviewing Fresenius’ $2 billion acquisition of NxStage Medical for nearly a year and a half, making it the longest deal under review at the agency. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Update from Sprint/T-Mobile CPUC Hearings
Thank you for your interest in CTFN content. To read this story, please Request A Free Trial CTFN is your source for in-depth news coverage on mergers, events, and major corporate actions, reported with the detail and accuracy commensurate with a professional investor’s perspective.> To learn more about our team’s reporting, please view the Insights section, or contact info@CTFN.news Ed Roberts Ed Roberts began reporting for CTFN in September of 2014.
New York DFS Surprises Fidelity National Financial
Fidelity National Financial was “blindsided” by the New York State Department of Financial Services’ January 31 written notice of disapproval of FNF’s application to acquire Stewart Information Services’ New York subsidiary, a person close to FNF told Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Update on Bemis/Amcor Deal
The Department of Justice’s antitrust division staff did not look at Amcor’s $5.26 billion acquisition of Bemis during the partial government shutdown, a person close to the matter told CTFN. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
DOJ Wants Upfront Buyer for Gemalto/Thales Divestiture
The U.S. Department of Justice has requested an acceptable upfront buyer of Thales’s global general purpose HSM business in order to approve Thales’s $5.6 billion acquisition of Gemalto, CTFN has learned. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Zayo and Private Equity Consortium Differ on Price
Zayo and the private equity consortium that has made an offer to buy the company continue to differ on the price, CTFN has learned. Sarah Cohen Sarah Cohen joined CTFN in August of 2015. Sarah is a New Jersey-based telecom and technology M&A reporter whose work has appeared in Forbes, TheStreet, FT.com, and many other publications including Mergermarket, where she worked for 10 years. Sarah has covered Yahoo, the data center space, new and incumbent telecoms, FCC matters, and CFIUS for CTFN.
DOJ Review of Sprint/T-Mobile Continued Through the Shutdown
Depositions are wrapping up in the U.S. Department of Justice’s review of the Sprint/T-Mobile merger, while economic analyses continue, a person close to the matter told CTFN. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Looking to Upcoming Sprint/T-Mobile Evidentiary Hearings in California
California’s utility ratepayer advocate and a major labor union have emerged as key opponents of the pending Sprint/T-Mobile merger in the state as the California Public Utilities Commission gears up for a crucial evidentiary hearing into the transaction Robert W. Welkos Robert Welkos began reporting for CTFN in August of 2014.
Gannett Likely to Reject MNG Approach
A response from Gannett is expected soon on the unsolicited $12 per share cash offer from MNG Enterprises, a person close to the matter said. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Four Essentials from CTFN this Week
FDC/FISV First Look Industry participants that CTFN spoke to believe the deal will be transformative for the industry. Sources referenced customers who believe the companies’ product offerings will be complementary as they do not see the two as direct competitors in most segments.
First Data/Fiserv First Look
On January 16, Fiserv announced the acquisition of First Data Corporation for 0.303 shares of Fiserv for each share of First Data common stock. The combined company will be led by Fiserv CEO Jeffery Yabuki with the current CEO of First Data Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
ERSE Approval Not Required in Advance for EDP/China Three Gorges
China Three Gorges is not required to submit a formal filing to Portuguese regulator ERSE in order to gain approval for its planned takeover of Portuguese utility Energias de Portugal, a source close to the matter confirmed. Valeria Camerino Valeria Camerino began reporting for CTFN in September 2015 and has covered various regulatory agencies such as the European Commission, CADE, the Competition Commission of South Africa, and others.
CADE Expected to Clear Fox/Disney with Behavioral Remedies January 30
Valeria Camerino Valeria Camerino began reporting for CTFN in September 2015 and has covered various regulatory agencies such as the European Commission, CADE, the Competition Commission of South Africa, and others. Prior to joining CTFN, Valeria was a Senior Reporter at London-based TelecomFinance, where she wrote about telecom M&A, financing, and regulation across Southern Europe and Latin America, providing proprietary intelligence and analysis on the latest industry developments.
CTG to Submit EC Filing for EDP Acquisition in First Quarter
China Three Gorges hopes to submit a formal notification to the European Commission for its planned merger with Energias de Portugal in the first quarter, a source close to the matter told CTFN. Valeria Camerino Valeria Camerino began reporting for CTFN in September 2015 and has covered various regulatory agencies such as the European Commission, CADE, the Competition Commission of South Africa, and others.
Nexstar in Discussions with Multiple Firms for Divestitures
Nexstar Media Group will likely reach out to the new Fox Corporation and to several smaller media companies in seeking bidders for television stations in overlapping markets where Nexstar must divest to win regulatory approval for its $6.4 billion Robert W. Welkos Robert Welkos began reporting for CTFN in August of 2014.
DOJ Working on Sprint/T-Mobile Despite Shutdown
The review of the Sprint/T-Mobile transaction by the Department of Justice is proceeding, despite the partial U.S. government shutdown, a person close to the matter told CTFN. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Fidelity National’s Acquisition of Stewart Seeing Little Opposition
Fidelity National Financial’s acquisition of Stewart Information Services is moving ahead with little apparent opposition to the transaction, a former official in the U.S. Federal Trade Commission’s Bureau of Competition told CTFN. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Nonessential FTC Employees to be Furloughed
At 11:59 p.m. on December 28, 2018, nonessential employees at the U.S. Federal Trade Commission will be furloughed as a result of the government shutdown, the regulatory agency confirmed to CTFN. Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders.
Idaho PUC May Rule on Avista/Hydro One Before Year-end
The Idaho Public Utilities Commission may rule before year’s end on Toronto-based Hydro One Ltd.’s controversial bid to acquire Spokane-based Avista Corporation, according to two sources familiar with the proceedings. Robert W. Welkos Robert Welkos began reporting for CTFN in August of 2014. He covers utility, cable, and banking deals, among other matters and has proven adept at picking apart state regulatory processes and regulatory reviews with public interest hurdles.
Sprint/T-Mobile Antitrust Review Not Near Conclusion
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
Update: Express Scripts/Cigna DMHC Review
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
Gemalto/Thales EC Clearance Expected Soon
Rachel Rigby Rachel spent 12 years at Mergermarket, most recently as head of special coverage. Her role included liaising with European CEOs and reporting for dealReporter. Rachel’s various interests lie in the travel, media, clean energy, and healthcare sectors. As a journalist, she specializes in covering large private equity transactions and M&A.
Media Reports Keep Hydro One Governance Question in Focus
Robert W. Welkos Robert Welkos began reporting for CTFN in August of 2014. He covers utility, cable, and banking deals, among other matters and has proven adept at picking apart state regulatory processes and regulatory reviews with public interest hurdles. Robert spent 20 years as a reporter for the Los Angeles Times, covering the legal beat among other matters, and shared in two Pulitzer Prizes awarded to the newspaper’s Metro staff.
NxStage/Fresenius Merger: FTC Update
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
Experts Opine on Panel for Time Warner/AT&T Appeal
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
New York DFS Approval Looks in Sight for Aetna/CVS
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
China Three Gorges Presses Ahead with EDP Regulatory Approval
Valeria Camerino Valeria Camerino began reporting for CTFN in September 2015 and has covered various regulatory agencies such as the European Commission, CADE, the Competition Commission of South Africa, and others. Prior to joining CTFN, Valeria was a Senior Reporter at London-based TelecomFinance, where she wrote about telecom M&A, financing, and regulation across Southern Europe and Latin America, providing proprietary intelligence and analysis on the latest industry developments.
Proposed NxStage/Fresenius Settlement Agreement Advanced to Commissioners
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
Drama-Free Public Hearing in Iowa on Aetna/CVS Merger
Ed Roberts Ed Roberts began reporting for CTFN in September of 2014. Ed specializes in litigation and regulatory matters. He attended and reported on every major antitrust trial of 2015 and 2016, has covered complex multi-jurisdictional cases such as Fannie Mae/Freddie Mac, and has interviewed senior officials at regulatory bodies such as the FTC. Previously, Ed was a Washington-based reporter covering Congress and Wall Street for a variety of publications for more than two decades.
CADE to Seek Behavioral Remedies in Fox/Disney Case
Valeria Camerino Valeria Camerino began reporting for CTFN in September 2015 and has covered various regulatory agencies such as the European Commission, CADE, the Competition Commission of South Africa, and others. Prior to joining CTFN, Valeria was a Senior Reporter at London-based TelecomFinance, where she wrote about telecom M&A, financing, and regulation across Southern Europe and Latin America, providing proprietary intelligence and analysis on the latest industry developments.
NYDFS Public Hearing on Aetna/CVS Addresses Concerns and Possible Conditions
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
NYDFS Public Hearing on Aetna/CVS Merger Set for Thursday
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
Linde/Praxair Vote at FTC Could Come Any Day
Diane Alter Diane Alter began covering stories for CTFN in September of 2014, and has since developed an extensive network of contacts in the antitrust community and among academia, institutional shareholders, and corporate leaders. Diane previously reported on business and markets for publications including CNN Money, CBS News, the San Francisco Chronicle, Boston.com, IPO News, AOL Finance, and Yahoo Finance.
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