Category: Corporate Finance

You can’t be afraid to make money – Thoma Bravo’s acquisition of Ellie Mae for $3.7bn

Ellie Mae (NYSE:ELLI) – market cap as of 21/02/2018: $3.46bn Introduction On February 12, 2019, Ellie Mae, the leading cloud-based platform provider for the mortgage finance industry, announced that it has entered into a definitive agreement to be acquired by Thoma Bravo LLC, a leading private equity investment firm, in an all-cash transaction that values Ellie […]

Johnson & Johnson’s boost its digital surgery portfolio acquiring Auris Health for $2.35bn

Johnson & Johnson [JNJ: NYSE] – Market Cap as of 19/02/2019 $364.53bn Introduction On February 13th, the healthcare giant Johnson & Johnson announced the acquisition of the privately held surgical robotics firm Auris Health, for approximately $3.4 billion in cash. The terms of the agreement also include additional payments to Auris of $2.35 billion, based […]

The Big Millennial Bet: Morgan Stanley to Acquire Solium Capital for $900m

Morgan Stanley [NYSE: MS] – Market Cap as of 24/02/2019 $71.89bn Solium Capital Inc.  [TSE: SUM] – Market Cap as of 24/02/2019 $1.08bn Introduction On February 11th, Morgan Stanley announced it had struck a definitive agreement to acquire the workplace wealth solutions’ company Solium Capital for $900m. The deal comes just a couple of days […]

Is bank M&A back in vogue? The $66bn BB&T and SunTrust merger

BB&T Corporation (NYSE: BBT) – market cap as of 11/02/2019: USD 38.48bn SunTrust Banks (NYSE: STI) – market cap as of 11/02/2019: USD 29.06bn Introduction The all-stock $66 billion merger between BB&T and SunTrust banks is the biggest M&A deal for the banking industry in more than a decade, signalling bank executives’ growing confidence that […]

Size matters: Bristol-Myers to acquire Celgene in one of the largest pharma deal in history for $74bn

Bristol-Myers Squibb Company (NYSE: BMY) – market cap as of 10/2/2019: $81.98bn Celgene Corporation (NASDAQ: CELG) – market cap as of 10/2/2019: $61.56bn Introduction On the 3rd of January 2019, Bristol-Myers Squibb Company (NYSE: BMY) announced the acquisition of Celgene Corporation (NASDAQ: CELG) in a cash and stock transaction with an Enterprise Value of approximately […]

Antitrust and Protectionism: a case study on authorities’ intervention in M&A

Introduction With the fear of an imminent slowdown in the global economy and the ongoing trade war, uncertainty is currently dominating the upstage, to the detriment of M&A cross-border transactions, which so far could instead count on a positive momentum. With the looming pressure from Chinese companies pushing for acquisitions of US and EU companies […]

SoftBank’s commitment in WeWork grows to 9% of Vision Fund’s AUM, its long-term tech focused investment arm

SoftBank Group CO [9984:TSE] – Market Cap as of 26/11/2018 JPY 9.614T Introduction SoftBank group (SBG) is a true believer in WeWork’s idea, with a total combination of debt and equity funding in the loss-making U.S. shared office space provider of $8.4 bn. This month, WeWork received an additional $3bn injection from SoftBank Corp, in […]

Consolidations amid the Oil slump: Cimarex acquires Resolute

Cimarex Energy Co [NYSE: XEC] – Market Cap as of 01/12/2018 $7.84bn Resolute Energy [NYSE: REN] – Market Cap as of 01/12/2018 $823.7m Introduction On November 19th 2018, Cimarex Energy announced that the company was planning to increase its acreage by 34% with precious shale-rich Permian Basin land through the definitive agreement to acquire Resolute […]

Boston Scientific takes another bite at M&A: the $4.2bn acquisition of BTG

Boston Scientific Corporation (NYSE: BTX) – market cap as of 27/11/2018: USD 48.57bn Introduction On November 20, 2018, Boston Scientific, a company operating as a provider of innovative medical solutions, successfully reached an agreement to acquire BTG plc, the UK developer and distributor of tools employed in the treatment of cancer and other vascular diseases, […]

Waiting paid off: Elliott and Veritas to jointly acquire Athenahealth for $5.7bn

Athenahealth (NASDAQ: ATHN) – market cap as of 11/22/2018: $5.36bn Introduction On the 12th of November 2018, private equity firm Veritas Capital and hedge fund Elliot Management announced their plan to buy Athenahealth Inc. for $5.7bn in an all-cash deal. The deal values Athenahealth at $135 per share, thus offering a 12.2% premium compared to […]

Brookfield Business and CDPQ made the day of Johnson Controls’ Shareholders by acquiring Power Solution Business for $13.2bn

Johnson Control International PLC [JCI: NYSE] – Market Cap as of 21/11/2018 $30.754bn Brookfield Business Partners LP [BBU: NYSE] – Market Cap as of 21/11/2018 $4.613bn Introduction On November 13th, 2018 Johnson Control International announced its intentions to sell Power Solutions Business, one of its most profitable divisions. Generating $8bn of revenues so far this […]

“Xs” and “Os”: SAP acquires Qualtrics for $8bn

SAP SE (FWB: SAP) – market cap as of 23/11/2018: €109.7bn ($124.5bn) Introduction On November 10th, 2018, enterprise software giant SAP announced that it would acquire Qualtrics, one of cloud computing’s rising ‘unicorns’, for $8bn in cash. The announcement was made shortly before the much anticipated Qualtrics IPO, which had been under preparation for months. […]

Canada grows its shale’s footprint: Encana to acquire the North American Newfield in a strategic $5.5bn deal

Encana Corporation [ECA: NYSE] – Market Cap as of 13/11/2018 $7.74bn Newfield Exploration Company [NFX: NYSE] – Market Cap as of 13/11/2018 $4.04bn Introduction On the first of November, 2018, Encana Corporation announced a definitive agreement to purchase all outstanding shares of common stock of Newfield Exploration Company, an all-stock transaction valued at $5.5bn. Following […]

Rush for OTT dominance heats up: Deltatre acquires Massive Interactive

Introduction On November 7, Massive Interactive, a London-based OTT software provider, announced that it had signed an agreement to be acquired by Deltatre, a global provider of sports media services and technology in a transaction worth up to $127m. This transaction is an attempt by Deltratre to enter the entertainment sector, as well as to […]

Connecting the wires: CommScope acquires ARRIS

CommScope (NASDAQ: COMM) – market cap as of 16/11/2018: $3.55bn ARRIS International Plc (NASDAQ: ARRS) – market cap as of 16/11/2018: $5.32bn Introduction On November 8, 2018 CommScope, global leader in infrastructure solutions for communications networks, announced the acquisition of modems and set-top boxes maker, ARRIS International Plc. for $7.4 billion in an all-cash transaction […]

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