Jeffrey oversees Asia for Reuters Breakingviews from Hong Kong. He previously spent seven years in New York, most recently as U.S. Editor. Before becoming a columnist in 2007 and helping spearhead European commentary of the financial crisis for Breakingviews, Jeffrey wrote about banking, M&A, international trade, healthcare and tech for Reuters and BNA in New York, Phoenix and Washington, D.C. From London, he led the European corporate finance team for Reuters and coverage of the continent's media sector. He has a master's in journalism from Columbia University and a bachelor's in finance from the George Washington University.
The Japanese brewer is adding iconic London Pride to Peroni and Grolsch in its cooler. Paying a sudsy 24 times EBITDA for Fuller’s beer signifies the need for upscale and craft ales to keep up with liquor rivals. Cheap money should help make the deal go down easier for Asahi.
As the $13 bln Japanese company turns 100, it is inviting pushy investor ValueAct onto the board, slashing costs and zooming in further on endoscopes and other medical kit. Changing the corporate culture has been a slog, though. A weak camera business also blurs the picture.
Japan’s Takeda and China’s CIC have been among the regional leaders in overseas M&A in recent years. South Korean conglomerate SK Group may be next. It is tech-hungry, hampered at home and flush with cash from chipmaking. Bankers should put boss Chey Tae-won on speed dial.