Japanese firms are set to scrutinise overseas deals more intently after U.S. resistance to Nippon Steel's $15 billion U.S. Steel purchase, advisers said...
HONG KONG/TOKYO - Japan ese firms are set to scrutinise overseas deals more intently after U.S. resistance to Nippon Steel 's $15 billion U.S. Steel purchase, advisers said.
Both buyers and sellers of assets were already taking more time analysing political trends and scrutinising whether a target is in an industry that might trigger state intervention, one Tokyo-based banker told Reuters. CFIUS has stepped up its scrutiny since Chinese companies went on a U.S. shopping spree about a decade ago, snapping up assets such as the Waldorf Hotel and tech firm Ingram Micro.
Nevertheless, Japanese companies would be "really, really concerned and shaken up" by the Nippon Steel situation, said a Tokyo-based senior mergers and acquisitions banker, who requested anonymity due to the sensitivity of the matter.If the Nippon Steel deal collapses, break-up fees might increase and buyers will become more cautious, they added.
Japan saw a 45% jump in outbound acquisition deal value last year to $65.8 billion, the Dealogic data shows, as companies looked to tap alternate revenue streams to soften the impact of a deflationary domestic economy. HONG KONG, September 06, 2024--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of "a-" of Ping An Health Insurance Company of China, Ltd. .Today, the Honourable Harjit S.
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