Latest news with #corporatefinance
Bloomberg
2 days ago
- Business
- Bloomberg
Japan's Hostile Takeover Boom Raises Risks for Megabanks
Hi, it's Taro Fuse in Tokyo, looking at how Japan's megabanks are responding to the rising level of hostile bids in the country. Also today, Ascension Health is nearing a $3.9 billion deal for surgery centers and the 49ers empire now includes Scotland. Today's top stories Japanese megabanks play a powerful role in the country's business landscape—forming deep roots with their corporate customers over the decades through lending relationships, advisory work and even owning stakes.
Reuters
3 days ago
- Business
- Reuters
Goldman Sachs says deal outlook is good, but timing is uncertain
NEW YORK, May 29 (Reuters) - Goldman Sachs President John Waldron said on Thursday that the outlook for investment banking remains "quite good." The bank's pipeline for deals worldwide is strong despite uncertainty over timing as U.S. tariff policies roil markets and stall activity, he told investors at a conference. "Our investment banking business is very strong, and I think the outlook remains quite good," Waldron said. "The pipeline is strong all over the world... but as we've already said, the element of volatility makes it hard" to predict when deals will materialize. Corporate clients have a positive bias toward transactions and are still holding discussions about mergers, acquisitions and raising capital, Waldron said. Despite a broader slump in M&A, he cited a 30% increase in large deals valued at more than $500 million in the year to date as evidence of the market's resilience. "Obviously in the second quarter it's been much slower than in the first... Nonetheless, even post-Liberation Day, we've worked on a number of very sizeable, important M&A transactions."
Arab News
3 days ago
- Business
- Arab News
Qatar's debt market to surpass $150bn on steady issuance, Fitch says
RIYADH: Qatar's debt capital market is expected to exceed $150 billion in the medium term, supported by continued momentum in issuance across sovereign, bank, and corporate segments, according to a new analysis. In its latest report, Fitch Ratings said the Qatari DCM expanded 13 percent year on year in the first four months of 2025, pushing outstanding volume to $131.8 billion. The analysis noted that sovereign issuers accounted for the majority with 60 percent, while banks and corporates contributed 26 percent and 14 percent, respectively. The study positions Qatar's growth within broader Gulf Cooperation Council trends, where the region's overall DCM surpassed $1 trillion as of November, driven by robust oil revenues. In a February update, Fitch projected that the GCC will continue to rank among the top emerging-market issuers of dollar-denominated debt through 2025. On Qatar's DCM growth, Fitch stated: 'Sukuk, ESG (environmental, social, and governance), and Qatari riyal market penetration are on an upward trajectory. The potential development of digital government bonds, as part of the Qatar Central Bank's Central Bank Digital Currency project, can support the market's depth and sophistication.' The DCM, which involves the trading of securities like bonds and promissory notes, serves as a key mechanism for raising long-term capital for both businesses and governments. Qatar ranks as the third-largest DCM source in the GCC, holding a 13 percent regional share by the end of April. However, issuance volume dropped to $9.6 billion in the first four months of the year, a 36 percent decline from the same period in 2024. The share of sukuk in the DCM rose to 16.9 percent or $22 billion, but sukuk issuance slumped 86 percent year on year. Bond issuance fell 18 percent during the same period. 'Fitch's base case is that the government is going to refinance upcoming external market debt maturities and tap markets to cover a small budget surplus in 2025 under the assumption of a Brent oil price of $65 per barrel (excluding QIA investment income), while banks and corporates are likely to continue to diversify funding sources,' the report stated. While 67 percent of outstanding Qatari DCM remains US dollar-denominated, 28 percent is in riyals. In 2024, approximately 90 percent of the sovereign's bond issuance and all sovereign bond sukuk were riyal-denominated. The report highlighted that ESG debt is becoming a key dollar funding tool, accounting for almost 30 percent of all dollar DCM issuance in 2024. ESG DCM volume hit $4.1 billion by April, rising 204 percent year on year, with sukuk accounting for 18 percent. Qatar's debt-to-GDP ratio is expected to rise to 49 percent in 2025 before falling below 45 percent by 2027 on the back of increased gas output and associated budget surpluses. Fitch projects the US Federal Reserve will cut interest rates to 4.25 percent by the end of 2025, a trend the Qatar Central Bank is likely to follow. In a separate February report, the agency forecast Saudi Arabia's DCM would hit $500 billion by end-2025, spurred by the Kingdom's Vision 2030 diversification plan.
Associated Press
5 days ago
- Business
- Associated Press
Gevo Promotes Leke Agiri to Chief Financial Officer
ENGLEWOOD, Colo., May 27, 2025 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO), is pleased to announce the appointment of Oluwagbemileke (Leke) Agiri as Chief Financial Officer, effective as of May 21, 2025. Mr. Agiri succeeds L. Lynn Smull, who will continue with the Company in a new role as Executive Vice President and Senior Advisor to the Chief Executive Officer, focusing on strategic initiatives and to aide and support a seamless transition. Mr. Agiri brings extensive experience and leadership in corporate finance, capital markets, and strategic growth, both organic and inorganic. Since joining Gevo in August 2022, he has served in key leadership roles, most recently as Executive Vice President, Finance, where he has been instrumental in driving financial strategy and planning. His prior experience includes finance positions in the renewable energy and energy sectors at organizations including Bank of America (BAC), Occidental Petroleum Corporation (OXY) and Anadarko Petroleum Corporation (APC). Mr. Agiri earned a Masters in Business Administration in Finance and Energy from Jones Graduate School of Business at Rice University and a Bachelor of Science in Chemical Engineering from the University of Virginia. 'We've been developing Leke to replace me as the CFO as I approach retirement in my future. Leke has stepped up to every challenge that we have thrown at him. I look forward to a smooth transition with him. It's my duty to make sure I can help Gevo in any way possible. I also look forward to bringing my skills to bear on some of the exciting projects that Gevo is developing,' said Lynn Smull, Executive Vice President and former CFO of Gevo. 'Leke has been an integral part of our finance team and has demonstrated outstanding leadership and expertise in advancing Gevo's mission,' said Patrick Gruber, CEO of Gevo. 'His appointment reflects our long–term succession planning and confidence in his ability to help lead Gevo through its next phase of growth. This leadership evolution reflects Gevo's commitment to building a strong, future-ready team capable of executing on its ambitious goals for innovation and value creation.' About Gevo Gevo is a next-generation diversified energy company committed to fueling America's future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo's innovative technology can be used to make a variety of renewable products, including synthetic aviation fuel ('SAF'), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo's business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas ('RNG') facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration ('CCS') facility, further solidifying America's leadership in energy innovation. Additionally, Gevo owns the world's first production facility for specialty alcohol-to-jet ('ATJ') fuels and chemicals. Gevo's market-driven 'pay for performance' approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market. For more information, see Forward-Looking Statements Certain statements in this press release may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the promotion of Leke Agiri, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo. Media Contact Heather L. Manuel VP, Stakeholder Engagement & Partnerships [email protected] Investor Contact Eric Frey, PhD Vice President of Finance & Strategy [email protected]
Forbes
6 days ago
- Business
- Forbes
Five Companies That Consistently Buy Back Their Own Shares
The MetLife corporate logo at the top of a New York city skyscraper. MetLife is one of several ... More companies that stand out for consistently buying back their own stock. Photo byWhen a company buys back its own shares, shareholders often benefit. With fewer shares outstanding, each share is likely to be worth more. In the past 20 years, buybacks have become increasingly popular. Many companies prefer them to dividends because they have a softer tax impact. Dividends stick shareholders with taxes on their next tax return, while buybacks don't. Of course, companies can also do both – dividends plus buybacks. Buybacks can be a sign that a company's board of directors considers the company's stock undervalued. To be sure, buybacks are a bad idea if a company takes on excessive debt to fund them, or if the buyback siphons off cash that would be better used to beef up the company's core business. On the whole, though, I view buybacks as a good sign. Standard & Poor's has a Buyback Index (basically the 100 stocks in the S&P 500 with the highest percentage of buybacks). In the past five years, it has beaten the S&P 500 Total Return Index by about seven percentage points cumulatively, returning 16.29% a year versus 15.61% for the S&P 500. Over the past 25 years, the Buyback Index has outperformed the benchmark S&P 500 18 times out of 25. Here are five companies that stand out for their consistent use of buybacks. Each has bought back more than 4% of its shares per year over the past one, three and five years. MetLife Inc. (MET), based in New York City, is one of the largest insurance companies in the U.S. It specializes in group benefit packages. Last year it took in about $45 billion in premiums, and another $18 billion or so in investment income. It paid out roughly $43 billion in claims. In the past five years, MetLife has bought back, on average, 5.8% of its stock each year. During that time, the stock has risen about 114%. The stock seems reasonable priced to me, selling for less than 13 times earnings and about 0.75 times revenue per share. Nobody wants homebuilding stocks these days. Mortgage rates are unpleasantly high, and home prices are steep (a mixed blessing for homebuilders). New home sales this year have been weak, bordering on terrible. Several homebuilding companies have been buying back their own stock. One that I like is PulteGroup Inc., whose average home sells for about $570,000. That's a few notches higher than the U.S. average (about $504,000) and median price (about $438,000). Who knows when industry conditions will improve? It's not clear, but if you're a patient investor, you can take heart from the fact that homebuilders have enjoyed periodic booms in the past. Pulte stock, like that of other homebuilders, is cheap at present, selling for about seven times earnings. Pulte has bought back about 6% of its stock annually in the past five years. Also at seven times earnings is Academy Sports and Outdoors Inc. (ASO), which has its headquarters in Katy, Texas. It has averaged a 4% buyback in the past five years, and picked up the pace to 8% last year. Wall Street analysts are split on Academy. Of 20 analysts who cover it, half rate it a 'buy' or 'outperform' and half don't. But the average one-year price target for all analysts is more than $55, well above the current market price of less than $41. A nearly debt-free choice is Employers Holdings Inc. (EIG), out of Reno, Nevada. It's a workers' compensation insurer, concentrating on 'small and mid-sized businesses engaged in low-to-medium hazard industries.' Growth has been slow here, but profitability has been consistent: No losses in the past 23 years. The company has only a speck of debt, and more than $26 in cash for each dollar of debt. Known for high-end cookware and home goods, Williams-Sonoma Inc. (WSM) has seen its stock quadruple in the past decade. It has been astonishingly profitable, with a return on equity recently of 52%. Analysts obviously think the party's over: Our of 25 analysts who cover the stock, only five recommend it. The reason for analysts' gloom is obvious: The company imports about 23% of its merchandise from China, the target of the harshest tariffs proposed (though currently paused) by the Trump administration. The stock is down more than 15% year to date (through May 23). It sells for about 18 times earnings, which I think is not bad considering that Williams-Sonoma has grown earnings at better than a 22% annual clip for the past ten years. Disclosure: I own MetLife for some of my clients.
