Latest M&A News:
- 08/11/20: Forbion Portfolio Company, KaNDy Therapeutics, to Be Acquired by Bayer
NAARDEN, The Netherlands & BERLIN--(BUSINESS WIRE)--Forbion portfolio company, KaNDy Therapeutics, to be acquired by Bayer - Source: Business Wire Merger/Acquisition News - 08/10/20: Ligand to Acquire Pfenex Inc.
SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) and Pfenex Inc. (NYSE American: PFNX) today announced the signing of a definitive agreement for Ligand to acquire all outstanding shares of Pfenex for $12.00 per share in cash or $438 million in equity value on a fully diluted basis. In addition, Ligand will pay $2.00 per share or $78 million as a Contingent Value Right (CVR) in the event a predefined regulatory milestone is achieved by December 31, 2021, for a total - Source: Business Wire Merger/Acquisition News - 08/10/20: Element Solutions Inc Announces Acquisition of DMP Corporation and the Launch of MacDermid Envio Solutions
MIAMI--(BUSINESS WIRE)--Element Solutions Inc (NYSE:ESI) (“Element Solutions” “ESI” or the “Company”), a global and diversified specialty chemicals company, today announced its acquisition of DMP Corporation (“DMP”), a premier provider of turnkey wastewater treatment and recycle and reuse solutions across multiple manufacturing industries. The Company today also announced the formation of MacDermid Envio Solutions, a new business focused on helping customers profitably reduce their environmenta - Source: Business Wire Merger/Acquisition News - 08/10/20: M&A wrap: Ferrero, Nutella, Kinder, Kelsen, CTH, Autodesk, TA, MiddleGround, Infinedi, Align
Nuetlla family heir looks to grow own firm. TA, MiddleGround and Infindei involved in PE deals. Mergers & Acquisitions speaks Autodesk's Sidharth Haksar about the company's M&A strategy in construction software - Source: The Latest - 08/10/20: Ferrero scion builds $3 billion side bet to Nutella fortune
Giovanni Ferrero, scion of the Italian family behind Nutella and Kinder Chocolate, is forging his own direction - Source: The Latest - 08/10/20: HomeServe HVAC Segment Continues Expansion with Acquisition of Freedom Heating and Cooling in Birmingham, Alabama
NORWALK, Conn.--(BUSINESS WIRE)--HomeServe today announced the acquisition of Birmingham, Alabama-based Worry Free Comfort Systems, Inc., known locally as Freedom Heating and Cooling - Source: Business Wire Merger/Acquisition News - 08/10/20: Accenture Acquires Organize Cloud Labs, Latin America’s First ServiceNow Elite Partner Company
SÃO PAULO--(BUSINESS WIRE)--Accenture acquired Organize Cloud Labs, a Brazil-based company operating as ServiceNow's first Elite partner in Latin America. - Source: Business Wire Merger/Acquisition News - 08/10/20: Principal® Progressing With Integration of Wells Fargo’s Institutional Retirement & Trust
DES MOINES, Iowa--(BUSINESS WIRE)--Principal Financial Group® shares progress of the Wells Fargo Institutional Retirement & Trust (IRT) business integration. - Source: Business Wire Merger/Acquisition News - 08/10/20: Big Finance, Big Tech and Joe Biden
Although they haven’t necessarily fallen in love with the Democratic presidential candidate, many on Wall Street and in Silicon Valley are falling in line. - Source: Mergers, Acquisitions and Divestitures - 08/10/20: Vecima Networks Completes Purchase of DOCSIS Distributed Access Architecture and EPON/DPoE Portfolios From Nokia
ESPOO, Finland & VICTORIA, British Columbia--(BUSINESS WIRE)--Nokia and Vecima announce the successful completion of the sale of Nokia's Gainspeed portfolio, supporting technology and assets to Vecima. - Source: Business Wire Merger/Acquisition News - 08/08/20: Trump Wants U.S. to Get Cut of Any TikTok Deal. No One Knows How That’d Work.
The president has repeatedly called for a big payment to the Treasury Department if a Chinese company sells the app to Microsoft, but there is no provision in the law for that. - Source: Mergers, Acquisitions and Divestitures - 08/07/20: Intercontinental Exchange buys Ellie Mae from Thoma Bravo for $11 billion
More than 40 of annual U.S. mortgage originations are processed using Ellie Mae software. That gives Ellie Mae insight into trends such as borrowers’ credit profiles and changing underwriting standards. - Source: The Latest - 08/06/20: Customers Bancorp, BankMobile to chart new paths as separate companies
Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions. - Source: The Latest - 08/06/20: Bausch to spin off eye care business
Formerly named Valeant Pharmaceuticals International, the company became infamous on Wall Street for an acquisition spree as well as raising prices on drugs, a practice that drew scrutiny of its business practices. - Source: The Latest - 08/06/20: M&A wrap: WatchGuard, Panda Security, FP, Vector, Bausch, Zynga, TSG, IOP, Genstar, Sentinel, Waud, Advent
Mergers & Acquisitions talks to FP and Vector-backed WatchGuard CEO Prakash Panjwani about cybersecurity M&A. Bausch to spin off eye care business. Zynga buys mobile games maker. TSG, IOP and Genstar involved in PE deals. Waud and Advent form new acquisition platforms. - Source: The Latest - 08/06/20: Uber acquires UK minicab software company Autocab
Move will allow Uber to offer journeys in towns such as Oxford, Doncaster and Aberdeen
Uber has bought the British minicab software company Autocab for an undisclosed amount, giving it a new platform for its first major expansion in the UK in four years.
The purchase will allow Uber to offer users journeys in towns such as Oxford, Doncaster and Aberdeen where it does not currently operate. But rather than booking an Uber car in those towns, riders opening the app will be able to book a minicab from a local outfit instead.
Related: Uber drivers' fight for workers' rights reaches UK supreme court
Continue reading... - Source: Mergers and acquisitions | The Guardian - 08/06/20: More banks opt to sell PPP loans as heavy lifting nears
Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit. - Source: The Latest - 08/05/20: Work From Home boosts cybersecurity M&A, says WatchGuard CEO Prakash Panjwan
"The security market will continue to experience significant consolidation throughout 2020 and beyond" - Source: The Latest - 08/05/20: Blackstone buys Ancestry.com for $4.7 billion
Blackstone is flush with cash as investors continue to bet big on the firm amid the uncertainty caused by the Covid-19 pandemic. - Source: The Latest - 08/05/20: Is TikTok a Good Buy? It Depends on What’s Included
TikTok’s most valuable assets, a hyper-effective algorithm and a community of popular creators, may not be as easy to acquire as the company itself. - Source: Mergers, Acquisitions and Divestitures - 08/04/20: McClatchy, Family-Run News Chain, Goes to Hedge Fund in Bankruptcy Sale
A federal judge signed off on a $312 million deal for the prestigious newspaper company to Chatham Asset Management at a hearing Tuesday. - Source: Mergers, Acquisitions and Divestitures - 08/04/20: Google Faces European Inquiry Into Fitbit Acquisition
Authorities are investigating how Google will use health and wellness data collected from Fitbit’s fitness tracking devices. - Source: Mergers, Acquisitions and Divestitures - 08/04/20: Technology drives construction deals, says Autodesk's Sidharth Haksar
"Pursuing an acquisition in the middle of a pandemic brings with it its own unique set of complexities" - Source: The Latest - 08/04/20: AA could be bought by private equity group as it battles £2.65bn debt
Motoring group’s shares rise after it says it has received three takeover approaches
The AA could be taken back into private equity ownership, as the motoring group said it was in talks with three suitors in an effort reduce its £2.65bn debt pile.
The firm, which was founded in 1905 as the Automobile Association, said it needed to raise funds to pay down its debts. With 3,000 patrol vehicles, the AA provides roadside assistance to 12 million members, including 3 million personal members, and also offers home and car insurance and driving lessons.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 08/04/20: What Years of Emails and Texts Reveal About Your Friendly Tech Companies
Theatrics distracted from the real payoff of the congressional hearings: the subpoenaed documents. - Source: Mergers, Acquisitions and Divestitures - 08/03/20: 10 Key Considerations for Going Public with a SPAC
It is a reasonable extrapolation – and we are nothing at Cooley if not wildly reasonable – that more operating companies are considering going public through a merger with a SPAC (commonly referred to as a backdoor IPO) since the beginning of time. There have been some great examples of successful SPAC transactions and more […] - Source: Cooley M&A - 08/03/20: TikTok, Trump and an Impulse to Act as C.E.O. to Corporate America
The president’s interventions in company dealings based on his own instincts are a departure from the arm’s-length approach of predecessors of either party. - Source: Mergers, Acquisitions and Divestitures - 08/03/20: Trump Reverses Course on TikTok, Opening Door to Microsoft Bid
The president said he did not object to a potential acquisition of the Chinese-owned app, retreating from comments about banning the service. - Source: Mergers, Acquisitions and Divestitures - 08/03/20: What Would Microsoft Do With TikTok?
The potential blockbuster deal could go a few different ways. - Source: Mergers, Acquisitions and Divestitures - 08/03/20: With TikTok, ‘Uncool’ Microsoft Aims for the Love of Tweens
Buying one of the largest and most influential social networks in the country could change the perception of the tech giant. - Source: Mergers, Acquisitions and Divestitures - 07/31/20: Owner of UK chip firm Arm reportedly in talks about sale to Nvidia
Japan’s SoftBank could offload semiconductor maker within weeks for at least $32bn
The UK-based microchip designer Arm is the subject of “advanced talks” aimed at selling the British tech company to a US computing giant.
The computing firm Nvidia is negotiating with Arm’s Japanese owner, SoftBank, to acquire the Cambridge-based group in a deal that could be agreed within weeks, according to a report by Bloomberg.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 07/20/20: Walmart restarts talks on selling Asda
US owner looking to sell stakes in supermarket 15 months after collapse of Sainsbury’s merger
The US retail group Walmart has restarted talks on the sale of a stake in Asda in a deal that could value the UK supermarket at £7bn, 15 months after the collapse of a planned merger with Sainsbury’s.
Walmart and Asda said they were in conversation with “a small number of third-party investors” who were interested in acquiring a majority stake in Britain’s third-largest supermarket chain.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 07/16/20: Next in final stages of buying UK arm of Victoria's Secret
Lingerie brand would be second bold acquisition by retailer during coronavirus crisis
Next is finalising a deal to take on the UK arm of the lingerie brand Victoria’s Secret, which fell into administration last month.
The brand, once renowned for its controversial fashion shows featuring models known as “angels”, would give Next access to a potentially younger consumer.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 07/03/20: UK buys £400m stake in bankrupt satellite rival to EU Galileo system
Investment with India made in US firm OneWeb after Brexit locks UK out of Europe’s satellite navigation system
The UK government has pledged to invest $500m (£400m) in bankrupt satellite company OneWeb, giving it a stake in a business that provides broadband from space.
The government, which has proven so far unwilling to take stakes in major British companies hit by the coronavirus pandemic, will receive a “significant equity share” in the loss-making company as it seeks to make “high-risk, high-payoff” investments of the kind advocated by 10 Downing Street adviser Dominic Cummings.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 06/24/20: SEC Amendments to Financial Disclosure Requirements Provide a Welcome Reprieve for Carve-Out Transactions
As previously reported in this Cooley PubCo post, on May 21, the SEC adopted final amendments to the financial disclosure requirements for the acquisition and disposition of businesses. One change relating to the use of abbreviated financial statements stands out as a welcome reform for public or pre-public biopharma and life sciences companies. Historically, if […] - Source: Cooley M&A - 06/23/20: Recorded Roundtable: Assessing Strategic Dealmaking in a Volatile Covid-19 Market
In partnership with The Deal, we hosted a recent discussion with Uber Head of Corporate Development Jennifer Jarret, Goldman Sachs Head of Technology, Media and Telecom M&A Sam Britton, and Cooley M&A Co-Chair Jamie Leigh on navigating unchartered waters when it comes to assessing the current market for dealmaking. Amid the onset of the Covid-19 […] - Source: Cooley M&A - 06/22/20: UK firms critical to public health protected from foreign takeovers
Legislation protects those needed in future pandemics who may be struggling now
The UK government has introduced legislation to protect businesses that are key to public health from foreign takeovers.
The changes give the government the power to protect companies that could be critical in helping the country in future health emergencies but which may be struggling to weather the coronavirus pandemic.
Related: Markets hit by coronavirus second-wave fears, as gold touches one-month high - business live
Continue reading... - Source: Mergers and acquisitions | The Guardian - 06/17/20: Boohoo sales surge as it pays £5.25m for Oasis and Warehouse brands
Consumers turn to online retailer’s loungewear and athleisure during lockdown
Boohoo’s sales surged by 45% in the quarter to the end of May as consumers turned to online shopping during the coronavirus lockdown.
The online fashion retailer, which owns brands including Nasty Gal, Pretty Little Thing, Coast and Karen Millen, said customers were opting for loungewear and athleisure as a result of the shift to a more home-centred lifestyle.
Related: High street splurge unlikely anytime soon despite £60bn unspent
Continue reading... - Source: Mergers and acquisitions | The Guardian - 06/11/20: Just Eat beats Uber to snap up Grubhub for £5.8bn
Planned takeover will create world’s largest food delivery service outside China
European food delivery service Just Eat Takeaway has agreed to buy the US-based app Grubhub for $7.3bn (£5.8bn) in a deal that would create the world’s largest food delivery service outside China.
Confirmation of the all-stock takeover deals a blow to Uber, which has its own food delivery business and was reportedly in discussions with Grubhub.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 06/11/20: Key Themes From Cooley’s M&A Dealmakers Roundtable: Insights on the Life Sciences M&A Market
On May 27th, Andy Pasternak, Executive Vice President, Chief Strategy Officer at Horizon Therapeutics and Eric Tokat, a partner in the healthcare practice at Centerview Partners joined Cooley M&A co-chair, Barbara Borden for a discussion of the life sciences M&A market, with a focus on business development. As part of Cooley’s M&A Dealmakers Roundtable series, […] - Source: Cooley M&A - 06/08/20: Anti-buyout law would hit UK recovery, say business groups
Plan for tough rules on foreign takeovers comes as UK clashes with China on Hong Kong
Business groups have warned that introducing a law to prevent foreign takeovers that threaten national security could have a “chilling” effect on investment in the UK.
The government is said to be considering new rules that would mean directors could be jailed or companies could be fined hundreds of thousands of pounds for failing to report attempted takeovers by foreign firms that could put national security at risk.
Related: UK economy faces longer and slower recovery from Covid
Continue reading... - Source: Mergers and acquisitions | The Guardian - 06/04/20: Spanish Puig snaps up Charlotte Tilbury makeup empire
Barcelona-based firm is thought to have fought off bids from Unilever, L’Oréal and Shiseido
The celebrity makeup artist Charlotte Tilbury has handed a control of her namesake makeup and skincare empire to a Spanish fashion and fragrances business in a deal that could have valued the company at up to £1bn just seven years after she started it.
Tilbury, 47, personally owned between half and 75% of the company until signing a deal with the Barcelona-based Puig will likely have handed her a cash payout worth tens of millions of pounds. The Spanish firm also owns brands including Paco Rabanne, Jean Paul Gaultier and Nina Ricci.
Related: Charlotte Tilbury eyes £500m payout as makeup firm goes up for sale
Continue reading... - Source: Mergers and acquisitions | The Guardian - 05/22/20: SEC Adopts Final Amendments for M&A Financial Statement Disclosure
Yesterday, once again without an open meeting, the SEC voted (with a dissent from Commissioner Allison Lee) to adopt amendments to the requirements for financial statements relating to acquisitions and dispositions of businesses. According to the press release, the amendments are intended to improve disclosure of financial information, facilitate more timely access to capital and […] - Source: Cooley M&A - 05/22/20: Brewers Carlsberg UK and Marston's announce merger
Smaller breweries warn deal could harm independent beer firms
Danish brewer Carlsberg and British pubs and cask ale firm Marston’s have announced a joint venture, prompting concern among small brewers who fear being squeezed out of the market.
Shares in Marston’s surged by 36%, recovering some of the value lost since the Covid-19 lockdown shut pubs across the country, as investors applauded the tie-up.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 05/14/20: Chinese threat prompts calls for UK to toughen company takeover laws
Minsters want national security measure after failed boardroom coup at technology firm
An aborted Chinese-led boardroom coup at a British technology firm is set to force the UK government to adopt stronger intervention powers to prevent hostile countries taking major stakes in strategic UK businesses.
The coup, involving putting four Chinese government-backed members on to the board of Imagination Technologies, has led Tory backbenchers to demand ministers toughen pre-existing plans to add a stronger national security element to UK takeover laws. It was abandoned after MPs called on ministers to intervene.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 05/11/20: Social Distancing From a (Supposed) Life Partner: Early Lessons From Deals Terminated and On the Rocks in the COVID-19 Era
In “La La Land,” Damien Chazelle’s Oscar winning film, the audience thinks it has a formulaic Hollywood love story on its hands: boy and girl meet; boy and girl fall in love; boy and girl break up; and boy and girl get back together. But in a twist on the classic love story, boy and […] - Source: Cooley M&A - 05/07/20: JD Sports says blocking Footasylum merger is 'absurd' amid Covid-19 crisis
Competition and Markets Authority’s decision fails to take account of fallout from pandemic, sports retail chain says
JD Sports Fashion has criticised the competition watchdog for paving the way for potential job losses after the retailer was blocked from merging with a struggling rival, Footasylum.
Peter Cowgill, the executive chairman of the UK’s largest sports retailer, said the company “fundamentally disagreed” with the Competition and Markets Authority’s decision, which was “absurd” in the light of the high street’s struggles.
Related: JD Sports stops paying rent to landlords
Continue reading... - Source: Mergers and acquisitions | The Guardian - 05/07/20: Virgin Media and O2 owners confirm £31bn mega-merger in UK
Tie-up between parent groups Liberty Global and Telefonica aims to take on BT and Sky
The owners of Virgin Media and O2 have confirmed a £31bn merger deal to create a new “national champion” to challenge BT and Sky in the UK.
Liberty Global, which owns the UK’s largest cable company Virgin, and Telefónica, which owns Britain’s biggest mobile operator O2, are to merge their UK operations in a new 50-50 joint venture.
Continue reading... - Source: Mergers and acquisitions | The Guardian - 05/05/20: Whataday for Special Committees: Salladay v. Lev Clarifies Committee Formation Requirements in Non-MFW Scenarios
In late February as the COVID-19 pandemic was accelerating, the Delaware Chancery Court issued an important decision that is likely to impact transactions during the expected recession. In Salladay v. Lev, C.A. No. 2019-0048-SG (Del. Ch. Feb. 27, 2020) (“Salladay”), the court held that a conflicted transaction – not involving a controlling shareholder – could […] - Source: Cooley M&A - 05/01/20: Virgin and O2 plan merger to challenge Sky and BT
Owners of telecoms giants set to team up and challenge major sector players
The owners of Virgin Media and O2 are in talks to create a new TV and mobile power player to challenge BT and Sky in the UK.
Billionaire John Malone’s Liberty Global, which owns Virgin Media and a 10% stake in ITV, is understood to be in talks with Spanish telecoms giant Telefonica to combine their UK assets in a joint venture.
Continue reading... - Source: Mergers and acquisitions | The Guardian
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