Public offer prospectus
Cash and share exchange offer
SBurger king / Tim Hortons (2014)
The burger chain merged with the Canadian multinational fast-casual restaurant chain, Tim Hortons for $11.5 billons in cash and shares, in order to grow and become to create the world's third largest quick service restaurant company (over 18,000 restaurants in around 100 countries).
Cash exchange offer
Brookfield-QIA/Canary Warf (2015)
Brookfield Property partners and Qatar Investment Authority launched an hostile takeover to acquire Songbird Estates, which has a controlling stake in the Canary Wharf Group development. They made a final, all-cash offer for all of Songbird's outstanding shares that valued the company at about $3.9 billion. The Canary Wharf development, built in a district once known for its docks, has 34 office buildings and nearly 700,000 square feet of retail space.It is the London home of some of the world's biggest banks, including Barclays, HSBC, JPMorgan Chase and Citigroup.
Share exchange offer
Klépierre / Corio (2014)
With this transaction, Klépierre and Corio will create the leading pan-European pure player retail property company. The combined group will operate 182 shopping destinations in 16 European countries, with a combined gross asset value of more than EUR 21 billion.
Initial Public Offering (IPO)
During the IPO, the company raised $21.8bn at a valuation of about $168bn in the first place. And because the price surged 38% after the first trading day, the company and Yahoo sold additional shares for $3.2bn. It has been recognized has the world's largest IPO. With the proceeds of the IPO, Alibaba is said to plan an acquisitions as well as invest massively in brand awareness.
// See Vernimmen chapter 26.
High yield bond issue
Telecom Italia (2014)
After being downgraded below the investment grade in October 2013, Telecom Italia issued a 10-year bond for $1.5bn in May 2014. The transaction lengthens the company's average debt maturity and further diversifies its investor base.
// See Vernimmen chapter 21.
Verizon Communications sold $49 billion of bonds in eight parts in the biggest company debt offering ever. The deal – which is about the size of all outstanding obligations of the Slovak Republic! – is helping to fund the buyout of partner Vodafone's 45% stake in the largest and most profitable U.S. wireless carrier, Verizon Wireless.
// See Vernimmen chapter 21.
Convertible bond issue
LinkedIn is issuing $1.15bn of convertible senior notes due 2019. Proceeds will be used for general corporate purposes. The company is opportunistically raising capital on very attractive terms. The company also wanted to be well positioned to fund additional growth initiatives and make additional tuck-in acquisitions.
// See Vernimmen chapter 25.
The U.K.'s second-largest bank by assets, raised £5.8bn ($8.9bn) to bolster its capital structure, following British regulators strong pressure on banks about their leverage ratio. The bank raised a lot of legal concerns after Libor scandal, leading to expensive settlements with authorities.
Reckitt Benckiser / Indivior (2014)
Reckitt Benckiser, the leading global consumer health and hygiene company, has completed the demerger of its speciality pharmaceuticals business Indivior, with shares in the separate company trading on the London Stock Exchange.
// See Vernimmen chapter 44.