Latest news with #Mergers
Yahoo
4 hours ago
- Business
- Yahoo
Forward Air makes progress on review of company's future
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Forward Air leaders are still considering a review of the company's operations and whether a sale or merger could happen, executives said on an earnings call Monday. The strategic alternative review, which began in early January, is progressing, CFO Jamie Pierson said, stressing that the company isn't letting possible outcomes influence the fundamentals of the newly merged company. If M&A were to occur, company leaders prefer that it not involve piecemeal sales of the business. Pierson said the value of the collective whole is greater than the sum of individual parts, but CEO Shawn Stewart suggested they weren't ruling anything out. 'To unwind it, I think, would be value destructive, but there might be one that we would consider,' Stewart said. Forward Air acquired Omni Logistics in January 2024 following a tumultuous process that involved a 2023 lawsuit from Omni to force the deal to close. The company posted a nearly $1 billion net loss from continuing operations in Q2 2024, driven almost entirely by the new Omni segment. That hit made the financial challenges last quarter seem paltry. In Q2 2025, the transportation provider posted a net loss of nearly $20.4 million. 'We posted yet another solid quarter; even in this challenging environment, our team continues to deliver,' Stewart said in a news release, adding that the company is well positioned to improve earnings and cash flow once the market normalizes. About 70% of the company's revenue comes from its ground transportation segment, covering expedited LTL, TL, brokerage services and other offerings. The merger is allowing synergy between Forward Air and Omni especially in that segment, and Stewart said the Omni sales team is benefitting from the larger organization with its product offerings now and can help drive growth. 'Not only is everybody laser-focused on their product value streams, but consistently on the Omni side really working on the synergy selling of all of our great products around the world, and that focus is really starting to take hold,' he said. Recommended Reading Forward Air reveals new chairman's salary, performance-based stock
CNA
14-07-2025
- Automotive
- CNA
Autodesk focused on strategy, signals deal with PTC will not happen
NEW YORK :Design software maker Autodesk said in a regulatory filing on Monday that it plans to pursue its "strategic priorities" and make only "targeted and tuck-in acquisitions," signaling there will be no deal with software firm PTC. San Francisco-headquartered Autodesk's stock lost nearly 12 per cent late last week amid speculation that it was considering buying computer software and services company PTC Inc. Monday's one-paragraph filing with the U.S. Securities and Exchange Commission did not mention Boston-based PTC by name but left no doubt that any deal that might have been in the works to combine the two companies is now off the table. "We are confident in our plans to drive long-term shareholder value," the company said, adding it will pursue its established strategic priorities in cloud, platform, and AI. It will also allocate capital to organic investment, targeted and tuck-in acquisitions, and to continuing its share repurchase program as free cash flow grows, the filing says. Autodesk investors welcomed the news, sending the stock up nearly 7 per cent in pre-market trading after it closed at $280.39 on Friday. PTC's stock price, meanwhile, dropped 5 per cent in pre-market trading after having jumped some 10 per cent last week. Autodesk's signal that there will be no deal with PTC scuttles what might have been one of the year's biggest mergers, potentially valued up to $30 billion. Investors had been hoping for months that M&A markets might catch fire in the second half of the year after dealmakers urged caution in the first half against a backdrop of uncertainty created by U.S. President Donald Trump's tariff and tax policies as well as geopolitical tensions.
National Post
10-07-2025
- Business
- National Post
Starlight Announces Unitholder Approval of Proposed Mergers for Private Pools
Article content TORONTO — Starlight Investments Capital LP (' Starlight Capital'), on behalf of Starlight Private Global Infrastructure Pool, Starlight Private Global Real Estate Pool and Starlight Global Private Equity Pool (the ' Private Pools '), held a special meeting of holders of all series of units (' Unitholders ') of the Private Pools to consider and vote upon the proposed mergers (the ' Mergers ') of each of the Private Pools into Starlight Private Global Real Asset Trust as described in the joint management information circular dated May 30, 2025 (the ' Circular '). Article content At the special meeting, Unitholders approved the special resolution to authorize the Mergers. The Mergers are expected to be implemented on or about September 30, 2025. Article content Further information regarding the Mergers was outlined in the Circular. The Circular is also available on SEDAR+ at Article content Forward-looking statements Article content This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation, including statements regarding the implementation of the Mergers. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'scheduled', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' occur or be achieved. Article content By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Known and unknown risk factors, many of which are beyond the control of the Private Pools could cause actual results to differ materially from the forward-looking information in this press release. Accordingly, readers should not place undue reliance on forward-looking information. The Private Pools do not undertake to update or revise any forward- looking information, except in accordance with applicable securities laws. Article content The Article content 's investment objective is to achieve long–term capital appreciation and regular current income by investing globally in private infrastructure and infrastructure-related investments and in publicly-traded companies with direct or indirect exposure to infrastructure. Article content The Starlight Private Global Real Estate Pool 's investment objective is to achieve long–term capital appreciation and regular current income by investing globally in private real estate investments and in public real estate investment trusts and equity securities of corporations participating in the residential and commercial real estate sector. Article content The Starlight Global Private Equity Pool 's investment objective is to achieve long-term capital appreciation by investing in a diversified global portfolio of private equity investments and publicly traded global equity securities. Article content About Starlight Capital and Starlight Investments Article content Starlight Capital Article content is an independent Canadian asset management firm with over $1 billion in assets under management. We manage Global and North American diversified private and public equity investments across traditional and alternative asset classes, including real estate, infrastructure and private equity. Our goal is to deliver superior risk-adjusted, total returns to investors through a disciplined investment approach: Focused Business Investing. Starlight Capital is a wholly-owned subsidiary of Starlight Investments. Starlight Investments is a leading global real estate investment and asset management firm with over 375 employees and $30B in AUM. A privately held owner, developer and asset manager of over 70,000 multi-residential suites and over 7 million square feet of commercial property space. Learn more at Article content Article content Article content Article content Article content Contacts Article content For further information, contact: Article content Dennis Mitchell Article content Article content Chief Executive Officer & Article content Article content Chief Investment Officer Article content Article content 1-416-855-2642 Article content Article content dmitchell@ Article content Graeme Llewellyn Article content Chief Financial Officer & Article content Article content Chief Operating Officer Article content Article content Article content
National Post
10-07-2025
- Business
- National Post
Starlight Private Global Real Assets Trust Announces Unitholder Approval of Proposed Amendments and Mergers
Article content TORONTO — Starlight Investments Capital GP Inc. (' Starlight Capital '), on behalf of Starlight Private Global Real Assets Trust (the ' Trust '), held a special meeting (the ' Meeting ') of holders of all series of units (' Unitholders ') of the Trust to consider and vote upon the proposed mergers (the ' Mergers ') of Starlight Private Global Infrastructure Pool, Starlight Private Global Real Estate Pool and Starlight Global Private Equity Pool into the Trust and certain amendments to the Trust prior to the Mergers (the ' Pre-Merger Amendments ') as described in the joint management information circular dated May 30, 2025 (the ' Circular '). Article content At the special meeting, Unitholders approved the special resolution to authorize the Pre-Merger Amendments and Mergers. The Pre-Merger Amendments are expected to be implemented on or about July 31, 2025, or in any event, prior to the Mergers, and the Mergers are expected to be implemented on or about September 30, 2025. Article content Further information regarding the Pre-Merger Amendments and Mergers was outlined in the Circular. The Circular is also available on SEDAR+ at Article content Forward-looking statements Article content Certain statements in this press release are forward-looking and involve a number of risks and uncertainties, including statements regarding the implementation of the Pre-Merger Amendments and Mergers. Forward-looking statements ('FLS') are provided for the purpose of assisting the reader in understanding the Trust's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future. Readers are cautioned such statements may not be appropriate for other purposes. FLS involve known and unknown risks and uncertainties, which may be general or specific and which give risk to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities may not be achieved. FLS are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' or 'estimate,' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Article content Information contained in FLS is based upon certain material assumptions applied in drawing a conclusion or making a forecast or projection, including management's perception of historical trends, current conditions and expected future developments, as well as other considerations believed to be appropriate in the circumstances. Although the FLS contained herein are based upon what Starlight Capital believes to be reasonable assumptions, Starlight Capital cannot be sure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Article content The forward-looking statements relate only to events or information as of the date on which the statements are made in this press release. Unless required by applicable law, it is not undertaken and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Article content About Starlight Private Global Real Assets Trust Article content The Starlight Private Global Real Assets Trust 's investment objective is to provide unitholders with stable cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors. Article content Starlight Capital is an independent Canadian asset management firm with over $1 billion in assets under management. We manage Global and North American diversified private and public equity investments across traditional and alternative asset classes, including real estate, infrastructure and private equity. Our goal is to deliver superior risk-adjusted, total returns to investors through a disciplined investment approach: Focused Business Investing. Starlight Capital is a wholly-owned subsidiary of Starlight Investments. Starlight Investments is a leading global real estate investment and asset management firm with over 375 employees and $30B in AUM. A privately held owner, developer and asset manager of over 70,000 multi-residential suites and over 7 million square feet of commercial property space. Learn more at and connect with us on LinkedIn at Article content Article content Article content Article content Contacts Article content Dennis Mitchell Article content Article content Chief Executive Officer & Article content Article content Article content 1-416-855-2642 Article content Article content dmitchell@ Article content Graeme Llewellyn Article content Article content Chief Financial Officer & Article content Article content Article content Article content
Yahoo
30-06-2025
- Business
- Yahoo
Analysis-Larger deals power global M&A in H1, bankers signal appetite for megadeals
By Sabrina Valle, Milana Vinn and Kane Wu NEW YORK (Reuters) -Mergers and acquisitions during the first half of this year were not what investment bankers had hoped for, but a burst of big deals in Asia and renewed optimism in U.S. markets could be paving the way for megadeals. Market uncertainties stemming from U.S. President Donald Trump's trade war, high interest rates and broader geopolitical tensions hampered — but did not completely derail — what bankers expected to be a blockbuster year for global M&A, dealmakers say. Trump's tariff policies, kicked off by his self-styled "Liberation Day" on April 2, cast a chill over the markets and pushed several deals and initial public offerings into subsequent quarters. "The expectation was we would see a lot of deal activity in the first half of 2025, and the reality is we didn't see it," said Tommy Rueger, global co-head of equity capital markets at UBS, which Dealogic ranked No. 9 in equity capital markets revenue, according to preliminary data from January 1 through June 27. Interviews with more than a dozen top bankers signal growing confidence that the worst of the market turbulence is over. Fresh record closing highs for the S&P 500 and Nasdaq indexes have helped renew optimism that M&A in the second half of the year will be even stronger, dealmakers say. "There were a lot of deals that were put on hold that will come back," said Ivan Farman, co-head of global M&A at Bank of America, which was ranked No. 3 in overall investment banking revenue and No. 5 for M&A in Dealogic's year-to-date rankings. "I'm optimistic about the second half." There is reason for optimism, dealmakers say, with the recovery in the markets and Trump's easier antitrust policies paving the way for bigger deals. "The probability of very large transactions, perhaps $50 billion-plus, has increased versus a year ago," said John Collins, global co-head of Mergers & Acquisitions at Morgan Stanley, which was ranked No. 4 in overall fee revenue among investment banks and No. 3 for M&A deals. Some $2.14 trillion in deals were signed from January 1 through June 27, up 26% from the same period last year. Part of that increase, however, came from Asia, where activity more than doubled to $583.9 billion. Deal activity in North America rose to $1.04 trillion from January 1 through June 27, up 17% from the first half last year, according to preliminary data from Dealogic. Market volatility, as measured by the VIX index, has dropped to levels that indicate investors feel safer to invest today. "It's been clear that momentum continues to build, paving the way for larger transactions. People are feeling more positive than they were a month ago and starting to implement their decisions," said Philip Ross, vice chairman of Jefferies bank. As the markets calm down, institutional investors are starting to jump back in to equities and more companies are moving forward with IPO plans that had been postponed earlier this quarter. 'The combination of all of those together has created, over the last three to four weeks, an incredibly strong new issue backdrop and we've seen a significant uptick in activity," Rueger said. Saadi Soudavar, head of equity capital markets for Europe, Middle East and Africa at Deutsche Bank, added: "Equity markets have shown a remarkable ability to shrug off a lot of the tariff and geopolitical related volatility." MORALE BOOSTERS A few big deals helped boost market morale at the height of tariff turmoil, including Global Payments' $24.25 billion acquisition of a card processing and account services firm in April. Charter Communicationsin May agreed to buy privately held rival Cox Communications for $21.9 billion. And U.S.-based equipment manufacturer Chart Industries and Flowserve Corp agreed to merge, valuing the combined company at about $19 billion. There were 17,528 deals signed during the first half of this year, compared with 20,583 deals in the same period last year, according to Dealogic. But this year's deals were bigger in size, pushing the total value of deals higher. There was a 62% increase in the number of $10 billion-plus deals versus the same period last year, the data shows. Dealmaking in Asia was a bright spot. Overall M&A activity rose to $583.9 billion in the first six months, up from $269.9 billion a year ago. Led by Japan and China, the region accounted for 27.3% of the global M&A activity, gaining more than 11 percentage points from the same period last year. Some of the region's biggest deals were kept within the Asia-Pacific region. Toyota Motor announced plans on June 3 to take one of its suppliers private for $33 billion. On June 16, a consortium led by Abu Dhabi's National Oil Company (ADNOC) launched an $18.7 billion all-cash takeover of Australia's second-largest oil producer Santos. Asia also helped drive global equity issuance higher despite the market volatility, with overall volume rising nearly 8% to $350 billion from the same period last year. "You will see more Asia-to-Asia activity," said Raghav Maliah, global vice chairman of investment banking at Goldman Sachs, which was ranked No. 2 in overall investment banking fees and No. 1 in M&A revenue. "Japan has been a big driver in all the deal volumes (in Asia) and we do believe that trend will continue." 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