M&A; Watch: Berkshire, IBM, Evercore, ABS, VeriFone, Point International, Bank of America, CCB, America Movil ,Telmex, Carlisle, Tri-Star Electronics
Monday, November 14, 2021 1:55 PM

Following are some of the noticeable M&A today.

Berkshire Buys 5.5 Pct Of IBM

Warren Buffet said that Berkshire Hathway (NYSE:BRK.A) bought a 5.5 percent stake in IBM (NYSE:IBM) for $10.7 billion, in an interview to CNBC.  With the acquisition, Berkshire is now holds same stake as State Street Global Advisors.

Bank of America To Sell 10.4 Bln Shares In Chinese Bank

Bank of America Corp. (NYSE:BAC) announced to sell remaining stake in the China Construction Bank Corp. (CCB) for $6.6 billion in cash thus making $1.8 billion in post-tax gain. Bank of America agreed to sell around 10.4 billion shares of CCB through private transactions with a group of investors. The income from the sale will help allow bank to realize its deferred tax assets and will boost the tier 1 common capital by about $2.9 billion, it said. Bank of America will hold 1 percent stake in CCB after the deal.

Evercore to Acquire 45 Pct Stake in ABS Investment

Investment bank Evercore Partners Inc. (NYSE:EVR) will buy 45 percent non-controlling interest in ABS Investment Management LLC for $45 million in cash. ABS is privately-owned with focus on equity long/short hedge fund-of-funds manager, with close to $3.6 billion in assets under management. The transaction will close in fourth quarter.

Verifone to Buy European Payment’s Firm for $815 Million

VeriFone Systems, Inc. (NYSE:PAY), a payments company, will buy Stockholm-based Point International for around $815 million from private equity firm Nordic Capital. Additionally VeriFone will also pay off $230 million debt of Point International. The deal is based on the premise that electronic transactions in Europe will weather away debt crisis and sputtering European economy.

America Movil to Increase Stake in Telmex to 93 Pct

Mexico based mobile phone company America Movil(MXK:AMXL) announced that its stake in Telmex has increased to 93 percent from current 60 percent after the results for shareholders buyout offer were declared.

Carlisle to Buy Tri-Star Electronics for $285 Million             

Carlisle Companies, Inc.  (NYSE:CSL), a diversified manufacturer, will acquire Tri-Star Electronics International from private equity firm Brockway Moran & Partners for $285 million. California-based Tri-Star makes electronic interconnect components, with an annual sales of about $95 millon. Carlisle’s product lines serve the construction materials, energy, agriculture, mining and construction equipment, aerospace and electronics, among others