mergers

KKR owes $1.3 bln debt of gratitude to China

15 January 2021

Applied Materials will pay the buyout shop $3.5 bln for smaller peer Kokusai instead of the $2.2 bln agreed in 2019. Beijing has delayed giving its blessing so long that the microchip sector improved. The rare upward price negotiation should help even if the deal falls through.

A big Chinese backer would be roll of dice for MGM

7 January 2021

Investor Snow Lake wants the casino operator to sell 20% of its $6 bln Macau business to a local buyer. There are merits to the idea, including the edge it could provide for a new licence in the world’s biggest gambling hub. It would also, however, complicate other deals.

Robots drive Hyundai from humdrum to high tech

14 December 2020

The South Korean carmaker is taking control of Boston Dynamics in a $1 bln deal. Seller SoftBank, which admits mechanical dogs are no cash cow, is keeping a 20% stake. That endorses Hyundai boss Euisun Chung’s ambitious vision to upgrade his autos-to-steel empire.