|Bid||2.8400 x 3100|
|Ask||2.9700 x 2900|
|Day's range||2.8900 - 2.9200|
|52-week range||2.1000 - 3.3000|
|Beta (5Y monthly)||0.59|
|PE ratio (TTM)||9.35|
|Forward dividend & yield||0.12 (4.25%)|
|Ex-dividend date||29 Sept 2022|
|1y target est||N/A|
Mizuho (MFG) signs an agreement to acquire Greenhill for $550 million. The deal will hasten the company's IB expansion efforts.
Play The Godfather theme song because Mizuho Bank CEO Tatsufumi Sakai believes in America. At a time when more foreign banks seem to be going...
Mizuho has agreed to buy boutique investment bank Greenhill & Co in a $550mn deal, betting that the struggling group can help kick-start its ambitions in the US. Greenhill was one of the first M&A advisory companies to go public when it sold shares in 2004 but in recent years has faced an ever-growing wave of competitors including Moelis, PJT Partners and Centerview Partners. Mizuho, one of Japan’s largest financial institutions, will pay $15 a share for Greenhill, more than double the stock’s closing price on Friday.
(Reuters) -Mizuho Financial Group Inc will buy U.S. M&A advisory firm Greenhill & Co Inc for $550 million including debt, the companies said on Monday, as Japan's No. 3 lender eyes a bigger share of the world's largest investment-banking fee pool. Greenhill shares more than doubled to close at $14.66 on Monday after the announcement, just below the offer price of $15 per share. Monday's boost helped Greenhill shares erase their losses accumulated over the last 12 months due to the impact of higher interest rates on deal-making.
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The Bank of Japan's decision to let long-term rates rise more has not sparked a boom in revenue from lending as the central bank has yet to end its policy of negative interest rates, the head of the country's third-largest lender said on Thursday. The comments from Masahiro Kihara, the president and CEO of Mizuho Financial Group, highlight the challenges Japanese banks still face even as the central bank's surprise move last month sparked hopes of a windfall for lenders after years of being squeezed by rock-bottom rates. Kihara also told Reuters that Mizuho, which is looking to expand its capital markets and digital finance capabilities in Asia, was considering a potential deal but he did not elaborate.
Britain's markets regulator said on Wednesday it planned to ban three former Mizuho International bond traders from Britain's financial services industry for alleged dishonesty and deliberate market manipulation of Italian bond futures in 2016. The Financial Conduct Authority (FCA) said it also planned to fine former managing director Diego Urra 395,000 pounds ($480,800) and former senior rates trader Jorge Lopez Gonzalez and Poojan Sheth, once an associate, 100,000 pounds each. The FCA said the trio was contesting the decision, which will now be considered by the independent Upper Tribunal, a body that deals with challenges to FCA notices.
The trust bank unit of Japan's Mizuho Financial Group Inc is fielding about 100 enquiries a month from companies seeking advice on shareholder engagement, highlighting deepening pressure from activist investors in Japan. The number of such enquiries "has more than tripled or quadrupled from last year, as so-called activist funds boost their presence," Kei Umeda, chief executive of Mizuho Trust & Banking, told Reuters in an interview. Japan has seen shareholder activism flourish in recent years, becoming one of the world's most popular destinations for such investors, on reform expectations prompted by policies to improve the appeal of Japanese firms for foreign shareholders.
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Mitsubishi UFJ Financial Group Inc reported a 70% plunge in first-quarter net profit, blaming one-off losses related to the sale of MUFG Union Bank and a drop in the value of its stake in ride-hailing firm Grab Holdings. The bank, Japan's largest lender by assets, booked an appraisal loss of 254 billion yen ($1.9 billion) on bonds and other assets held by MUFG Union Bank, an accounting treatment required ahead of the $8 billion sale of the U.S. retail banking unit to U.S. Bancorp later this year. The previously flagged loss would be partly offset when the sale is complete, and the overall impact on full-year net profit is expected to be around 200 billion yen, the bank said.