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Indigo, an investment banker specializing in M&A transactions, is currently providing services to two clients, SP Holdings Ltd (SPHL) and Total Manufacturing Ltd (TML). SPHL

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Indigo, an investment banker specializing in M&A transactions, is currently providing services to two clients, SP Holdings Ltd (SPHL) and Total Manufacturing Ltd (TML). SPHL is a conglomerate interested in selling Art Online Ltd (AOL). Despite several capital injections. AOL is losing profits and is a financial burden on SPHL. TML is a startup company whose strategic plan is to grow the company using acquisitions. TML identified New Beginnings Ltd, which it wants to acquire to strengthen its earning capacity. i) Provide the names and explanations of these two engagements in investment banking M \& A activities. (4 Marks). ii) Given the information relating to SPHL and TML, which company might Indigo place a higher priority on? Give reasons for your answer. (4 Marks)

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