8th March 2021

Dear Reader,

Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.


[M&A] One of the largest alternative asset managers, Apollo Global Management, is merging with Athene Holding, a life insurance company. The merger will give Apollo a market cap of nearly $30 billion. The deal itself will be worth $11 billion. 

Over60: MarketWatch

[M&A] General Electric (GE) will sell its aircraft leasing unit to Irish group AerCap in a deal worth $30 billion. The move comes as GE attempts at restructuring its business, especially since it was badly affected during the 2008 financial crisis. It was reported in 2019 that Apollo Global Management was close to a $40 billion deal with GE for its aircraft leasing unit. 

Over60: Reuters

[Oil and Gas] Prices of oil went above the $70 a barrel mark as Saudi Arabia revealed that its energy facilities were attacked on Sunday.  

Over60: Mint

[Monetary Policy] The Bank of Japan (BoJ) announced that it would maintain its monetary easing policy. The easing policy, which began in 2013, has seen BoJ’s balance sheet increase to more than 100% of Japan’s GDP, while overnight interest rates were at -0.1%. The Bank will also target buying $111 billion in the equity market every year. 

Over60: FT

[SPAC] Indian e-commerce giant backed by Walmart, Flipkart, is considering listing in the U.S. via a SPAC at a valuation of $35 billion. As per certain estimates, the company could realize a valuation of $50 billion immediately after listing through the SPAC route. 

Over60: Nikkei Asia 


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