Growing healthy: Roche to acquire Spark therapeutics in $4.3bn deal

Roche Holding AG (SIX: ROG.VZ) – market cap as of 03/09/2019: $233.86bn Spark Therapeutics, Inc. (NASDAQ: ONCE) – market cap as of 03/09/2019: $4.32bn Introduction On February 25, 2019, the Swiss multinational healthcare company, Roche, announced that it entered into an agreement to buy Spark Therapeutics in a transaction that is valued at approximately $4.3 […]

The bigger they are… the harder they fall – General Electric sells its BioPharma division to Danaher for $21.4 bn

General Electric Company [GE: NYSE] – Market Cap as of 03/03/2019 $89.40bn Danaher Corporation [DHR: NYSE] – Market Cap as of 03/03/2019 $91.18bn Introduction On Monday 25th February 2019 General Electric (GE) announced the sale of its BioPharma business to Danaher for a total consideration of $21.4 billion, including $21 billion in cash. GE, which had previously come under investor pressure in relation […]

Liberty Global is finally free! Restructuring completed after a $6.3bn sale of Swiss Unit

Liberty Global plc [LBTYA: NASDAQ] – Market cap as of March 10th $18.36bn Sunrise Communications Group AG [SRCG: SW] – Market cap as of March 10th CHF3.41bn ($3.41bn) Introduction On February 27, 2019, Liberty Global, the biggest international TV and broadband internet company, agreed to the sale of its Swiss business – UPC Switzerland – […]

Students loans are not cheap! Navient refuses a $3bn takeover offer

Navient Corp. [Nasdaq: NAVI] – Market Cap as of 28/02/2019  $3.07B Introduction: On February 18, 2019, student-loan servicer Navient rejected a $3.2 billion takeover bid from two investors, the hedge fund Canyon Capital Advisors and the private-equity firm Platinum Equity Advisors, as it believed the offer undervalued the company. Navient’s board voted to reject the […]

Never change a winning team: Hellman & Friedman and Blackstone for Scout24

The Blackstone Group L.P. [BX: NYSE] – Market Cap as of 26/02/2019 $41.77bn Scout24 AG [G24: XETRA] – Market Cap as of 26/02/2019 €4.96bn Introduction On Friday 15 February 2019 Scout24, the leading German online classifieds group, received a voluntary public takeover offer by Blackstone and Hellman & Friedman. At a cash offer of €46 […]

Looking ahead: BlackRock and KKR to buy oil pipelines in the UAE for $4bn

BlackRock, Inc. (NYSE: BLK) – market cap as of 26/02/2019: $69.83 bn KKR & Co Inc Class A (NYSE: KKR) – market cap as of 26/02/2019: $18.97 bn Introduction On February 24th 2019,the Abu Dhabi National Oil Company (ADNOC) announced a landmarked partnership between the national state-owned oil company and two of the world’s leading […]

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, […]

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