Quentin Webb is an Associate Editor at Reuters Breakingviews. He covers mergers and acquisitions, corporate finance and private equity in Asia. He joined the Hong Kong bureau in May 2015 after four years in London. Before becoming a columnist, he was a news reporter for Reuters, where his last role was as European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. Follow Quentin on Twitter @qtwebb
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Lixil’s China-focused unit Joyou is set to file for insolvency. Though the financial hit is tolerable, this embarrasses both the $6 bln sanitaryware giant and authorities in Germany, where Joyou traded. It also shows the risks in Japan Inc’s frantic overseas dealmaking.
Things are hot in the air-conditioned data-centre business. Equinix is eyeing a $3.5 bln bid for Telecity that would kill the UK outfit’s all-stock purchase of Interxion. It’s hard to see Interxion biting back. Telecity owners are being offered 28 times 2015 earnings.
The surprise exits of the Swiss staffing group’s CEO and CFO lopped almost $1 bln off its $15 bln value. The self-styled “world’s leading provider of HR solutions” might have handled the departures better – like giving investors advance notice that it was looking for a new leader.
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