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HIG - Hartford Financial Services Inc News Story

$66.65 -0.2  -0.4%

Last Trade - 07/05/21

Large Cap
Market Cap £17.04bn
Enterprise Value £20.27bn
Revenue £14.93bn
Position in Universe 529th / 6858

BREAKINGVIEWS-Capital Calls-Merger bankers are just warming up

Thu 1st April, 2021 2:15am
(The author is a Reuters Breakingviews columnist.  The opinions
expressed are their own.)
    NEW YORK, March 31 (Reuters Breakingviews) - Concise
insights on global finance in the Covid-19 era.

PRIMING THE STOMACH. When it comes to merger fees, 2021 is
shaping up to be the banker equivalent of Nathan’s Famous Hot
Dog Eating Contest. Global deal volume hit a record in the first
quarter, nearly doubling year-on-year to about $1.3 trillion,
according to Refinitiv. The total was the second largest since
records began in 1980. Bankers are just getting warmed up
    Among the highlights, General Electric  GE.N  said it would
merge  urn:newsml:reuters.com:*:nL1N2L81KJ its aircraft leasing unit with Ireland’s 
 AE.N  in a $34 billion transaction. Insurance company Chubb
 CB.BN  offered $23 billion for Hartford Financial Services
 HIG.N   urn:newsml:reuters.com:*:nL1N2LH18F. And special-purpose acquisition companies,
essentially pots of cash, featured heavily, like BowX  BOWX.O 
Acquisition’s deal to buy WeWork, valuing it at $9 billion
    Dealmaking shows no sign of slowing, and the next three
months will surely blow away 2020’s abysmal second quarter.
Still, some combinations push regulatory limits. Two North
American railways announced a $25 billion deal  urn:newsml:reuters.com:*:nL1N2LK00A, and
Canadian mobile-phone rivals plan to merge  urn:newsml:reuters.com:*:nL1N2LD22S.
Watchdogs could make bankers choke on some of their proposals.
(Lauren Silva Laughlin) 
    On Twitter http://twitter.com/breakingviews
    Earlier in Capital Calls:
    Walgreens' Amazon vaccine  urn:newsml:reuters.com:*:nL1N2LT1YN     
    Saudi Arabia adds new scratch to crown jewel  urn:newsml:reuters.com:*:nL4N2LT45X
    Geely’s Volvo IPO may face another downgrade  urn:newsml:reuters.com:*:nL4N2LT444
    Julius Baer gets timely M&A green light  urn:newsml:reuters.com:*:nL4N2LT2XB
    Moutai’s conservatism tests investor patience  urn:newsml:reuters.com:*:nL4N2LT0HA
    - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe

 (Editing by Richard Beales and Katrina Hamlin)
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