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Consumer goods giant Unilever said Tuesday it will split off its ice cream unit — which includes Ben & Jerry’s, Magnum and Breyers — as part of a restructuring affecting up to 7,500 mostly office-based workers around the world. The turnaround plan will start right away and is expected to finish by the end of 2025, delivering cost savings of around $868.3 million. Unilever said plans for the ice cream business spinoff are not yet final, but that a “demerger" that creates a new listed business is the most likely. The shakeup will leave the company with four core businesses: beauty and wellbeing, personal care, home care and nutrition.

Elon Musk said that his prescribed use of ketamine alleviates periods of low mood and is in the best interest of investors in Tesla and the other companies he runs. For Wall Street, “what matters is execution,” Musk said in an interview with former CNN anchor Don Lemon streamed Monday on YouTube. “From an investor standpoint, if there is something I’m taking, I should keep taking it,” he said referring to Tesla’s success.

Singapore is one of the largest financial hubs in Southeast Asia. And Singapore is hoping its latest bet gives the small island country an economic boost. Singapore is reportedly paying Taylor Swift $3 million per show to give the country a much-needed boost. Known for its strict, work-focused culture and the infamous chewing gum ban, the country is seeking a transformation by leveraging the star power of Taylor Swift, whose U.S. tours sparked an economic boom. As part of the agreement, she is taking an undisclosed sum of money and has agreed not to perform in other neighboring countries. And, given how high-profile Taylor Swift has become, even the Prime Minister of Singapore is chiming in on the controversy. He defended Singapore for hogging Taylor Swift. Taylor Swift’s six Singapore concerts could generate between $260M - $372M in the country’s economy. Singapore has become a hub for asset managers, with some calling it the "Switzerland of Asia." Ray Dalio, Ken Griffin, and Steve Cohen have all set up shop there since the pandemic. And thanks to bankers escaping Hong Kong's zero-Covid policies, Singapore is arguably the leading financial center in Asia. Takeaway: Singapore is finding that one of the easiest ways for the country to shed its stern reputation is through hosting concerts. They’ve recently hosted Ed Sheeran, Coldplay, and now Taylor Swift. With 70% of the Taylor Swift concert-goers expected to be coming from outside the country, Singapore is trying to invest in rehabilitating its image. If these cultural investments help Singapore eclipse Hong Kong as the leading financial center in Asia, the long-term benefits could be invaluable.

List of Mega Deals That Attract Huge Attention From Around the World In the 2023 Biggest M&A deal of the year 2023 goes to: 1. Chevron acquisition $53Bn of Hess Corporation Chevron agreed to acquire Hess for $53Bn via an all stock deal. At the time of the deal, this was a 5% premium over the close price prior to the announcement. Chevron and Hess are both US oil & gas producers, and Chevron is now poised to take on Exxon, which also completed a large acquisition this year. 2. Nippon Steel Corporation acquisition U$15 Bn of United States Steel Corporation The fourth-largest steelmaker in the world, has agreed to buy US Steel for US$15bn. The acquisition would create one of the world's biggest steel companies outside of China, and would end the independence of one of America’s oldest industrial enterprises.  The takeover would also give Nippon Steel an inroad into the American market, and make it one of the country’s top suppliers for its auto industry. The $15bn purchase of the 122-year-old steelmaker would create one of the world's biggest steel companies.  Biggest Buyout deal of the year 2023 goes to: 1. Roark Capital $9.6Bn Buyout Acquisition of Subway A. Synergies: Roark already owns a significant number of fast food chains and franchised businesses, including Jimmy John’s, which positions it well to capitalize on the integration of Subway into its portfolio. B. Deal Structure / Pricing: Subway’s owners initially wanted a $10Bn buyout, which Roark was able to negotiate down. While you may argue that $400M off of a $10Bn acquisition isn’t that impressive, Roark’s structure was pretty clever. C. Regulator: While there tends to be limited regulatory scrutiny on PE deals anyway, it’s not like sandwiches are vital to national security, so there is likely to be limited government oversight here. 2. Blackstone Buyout Acquisition Rover.com for $2.3Bn A. Synergies: With Blackstone network and connections in the pet care industry, the acquisition can be expected to leverage Rover growth and connect with more companies and organizations in the industry, bringing it closer to a global expansion and making more pet parents around the world happier. B. Deal Structure / Pricing: Rover will go private with company valuation of approximately $2.3 billion, where over stockholders will receive $11.00 per share in cash, representing a premium of approximately 61% share price of Rover’s Class A common stock. The acquisition transaction via all in cash deal. C. Regulator: there is no big impact on regulator view for this private equity deal. Source: Short Squeez, Reuters, & Private Equity Insights #privateequity #investmentbanking #capitalmarkets #dealmaking #buyout #mergersandacquisitions #finance #dealstructure

"The three stages of career development are: (1) I want to be in the meeting; (2) I want to run the meeting; and (3) I want to avoid meetings." — Jay Ferro I enjoyed this. Thanks, Short Squeez for the content.