csl-and-philips-raise-a-combined-22-billion

CSL and Philips raise a combined $2.2 billion

The successful block trades in CSL and TSMC shares come at a time when the equities markets are traditionally quiet.

Daniel Inman

August 15, 2008

In less than 24 hours, in what is normally a quiet time of the year, two companies were able to raise a combined $2.2 billion from successful block trades. AustraliaÆs CSL raised $1.5 billion to fund its latest acquisition, and Royal Philips Electronics sold its final stake in Taiwan Semiconductor Manufacturing Company TSMC.

CSL, a company that develops and manufactures vaccines and plasma therapies, raised $1.5 billion in AustraliaÆs largest ever overnight placement. The deal was launched on the same day that the company announced that it had signed an agreement to purchase an American competitor, Talecris Biotherapeutics.

The shares were priced at A$36.75 $32.25, or a 5.8% discount to the last...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 3 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222