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.
Lawrence Ho’s $11 bln gambling empire has offered to buy the rest of its Manila resort operator. The valuation methods are creative and Melco is trying to bully minority holders. Prospective investors in a planned New York IPO should take note of this treatment, however distant.
The Tokyo-based chipmaker is buying U.S. peer Integrated Device Technology for $6.7 bln. A promised uplift in revenue from selling self-driving and connected-car technology sounds optimistic. Even if Renesas can achieve such synergies, the return on investment barely stacks up.
Renesas Electronics is considering buying U.S. peer Integrated Device Technology, for a price that could be around $6 bln. Its last acquisition hasn’t obviously delivered and the implied return on investment of this one is just 5 pct. Small wonder that investors are skeptical.