The original bidder for Kansas City Southern has returned with a $27 bln offer to challenge rival Canadian National. While the price is lower and changing railroads mid-journey for a second time isn’t free, reduced regulatory risk makes it a better deal for KCS shareholders.
UniCredit may buy most of sickly Monte dei Paschi, with government help. It’s unclear if that means taking on its junior debt, which would be a windfall for creditors at the expense of Italian taxpayers and EU rules. Yet bond markets are starting to hope for something juicy.
The enlarged Indonesian tech group will make gains in data analytics, helping it keep pace with $130 bln Sea. Getting goods closer to customers will trim order costs and boost on-demand services. It hints at complexities in the pair’s reliance on third-party logistics too.
Beijing is trying to slow a blistering rally reinforced by foreign capital. The currency’s strength has yet to dent China’s goods surplus, but it could further saddle U.S. consumers with higher prices. That puts pressure on the White House to cut tariffs without losing face.