Tag

Merger And Acquisition

All articles tagged with #merger and acquisition

business1 day ago•10 min saved

People Incorporated launches $48.30-per-share cash bid to privatize MGM Resorts

People Incorporated, formerly IAC, has made a non-binding all-cash proposal to acquire MGM Resorts International for $48.30 per share of MGM stock not already owned, representing a premium to recent trading levels. With about 26.1% of MGM currently held, People Incorporated would own just over 50% post-close and take MGM private, financing the deal with existing cash plus debt and new equity commitments. The proposal is subject to definitive documentation, due diligence, and regulatory approvals, and MGM's board would need to consider it under Delaware procedures; management continuity is anticipated.

via PR Newswire|

#business #cash-bid #go-private

business3 days ago•2 min saved

Berkshire Bets on U.S. Housing With $6.8B Taylor Morrison Buy

Berkshire Hathaway agreed to acquire Taylor Morrison Home for $6.8 billion in cash, paying $72.50 per share and valuing the company at about $8.5 billion including debt. The deal, expected to close in the second half of 2026, is one of the first major moves under new CEO Greg Abel and signals Berkshire’s bet on a housing-market recovery, leveraging its extensive homebuilding footprint.

via CNBC|

#berkshire-hathaway #business #homebuilding

business22 days ago•18 min saved

Byron Allen Seizes BuzzFeed in $120 Million Buyout, Lands CEO Role

Byron Allen is purchasing BuzzFeed for $120 million, taking a 52% majority stake and the CEO role from founder Jonah Peretti, while Peretti shifts to lead BuzzFeed AI and related ventures. The deal funds include $20 million in cash and a $100 million promissory note due five years after close, with closing expected in May. BuzzFeed has faced declining advertising revenue and losses, and Allen’s takeover could pivot the company toward free streaming video and AI-driven content, including potential spin-offs of assets like Tasty as part of a broader restructuring. The sale marks a dramatic drop from BuzzFeed’s peak valuation during the IPO era, signaling a new path for the digital media company in a changing landscape.

via The Hollywood Reporter|

#ai-strategy #business #buzzfeed

business28 days ago•9 min saved

Global Insider Trading Ring Tied to Law Firms Charged in Tens-of-Millions Scheme

U.S. prosecutors unsealed charges against 30 individuals—mostly corporate attorneys and financial traders—for a decade-long insider trading scheme that stole confidential information from major law firms about nearly 30 mergers and acquisitions, netting tens of millions in illicit profits. Nineteen defendants were arrested in the United States; others include fugitives in Russia and Israel. The scheme used burner phones, encrypted apps, shell accounts, and kickbacks to move MNPI to traders across the U.S. and overseas, with potential penalties including multi-decade prison terms if convicted.

via Department of Justice (.gov)|

#business #federal-charges #insider-trading

business3 months ago•16 min saved

Paramount Skydance Submits Revised Bid for Warner Bros. Discovery as Netflix Deal Stands

Paramount Skydance filed what appears to be a sweeter bid for Warner Bros. Discovery, which the WBD board says it is reviewing with advisers, while Netflix’s existing transaction to buy WBD’s studios and streaming assets remains in effect. Netflix has four business days to match Paramount’s revised offer under the Netflix merger agreement; if Paramount’s proposal is deemed a “Company Superior Proposal” by WBD, the Netflix deal could be terminated and a definitive merger with Paramount could proceed. Financial terms of Paramount’s updated bid were not disclosed.

via Variety|

#business #merger-and-acquisition #netflix

business3 months ago•1 min saved

Gilead to Acquire Arcellx in $7.8 Billion CAR-T Focused Deal

Gilead will buy Arcellx for $7.8 billion in cash, valuing Arcellx at $115 per share with a 79% premium and expanding their joint development of the anti-cancer CAR-T therapy anito-cel for multiple myeloma. The deal follows Arcellx's collaboration with Kite Pharma, and the FDA is reviewing anito-cel with a decision expected by year-end. The acquisition is expected to be EPS-accretive in 2028 and includes a $5 per share milestone payment if cumulative global net sales of anito-cel reach $6 billion through 2029.

via CNBC|

#arcellx #biotech #business

business7 months ago•3 min saved

Novo Nordisk Launches $9B Bid to Outpace Pfizer in Obesity Drug Market

Novo Nordisk has made a $6 billion cash bid to acquire Metsera, escalating a bidding war with Pfizer, which had previously offered $4.9 billion. The move comes amid Novo's recent struggles, including a significant stock decline and leadership changes, and faces political and legal scrutiny due to concerns over market dominance and antitrust laws. The outcome of this bid could impact the competitive landscape of the weight-loss pharmaceutical market.

via Barron's|

#business #merger-and-acquisition #metsera

business9 months ago•2 min saved

Sompo to Acquire Aspen Insurance for $3.5 Billion to Expand Global Presence

Aspen Insurance Holdings (AHL) saw its shares jump 14% after Japan’s Sompo Group agreed to acquire it for $3.5 billion, aiming to expand its global insurance footprint. The deal, valued at a 35.6% premium, is expected to close by mid-2024 and will integrate Aspen’s specialty insurance operations with Sompo’s overseas business, reflecting Japanese firms' interest in Western markets amid domestic growth challenges. Aspen, recently reporting strong Q2 results, is rated a Moderate Buy with an expected 8.5% upside.

via TipRanks|

#aspen-insurance #business #financial-results

finance2 years ago•2 min saved

SEC Charges Former Financial Industry Analyst and Executives with Insider Trading and Accounting Fraud

The Securities and Exchange Commission (SEC) has charged former financial industry analyst Anthony Viggiano and three others with insider trading related to multiple merger and acquisition transactions. Viggiano allegedly obtained nonpublic information about eight transactions and tipped off his friend Christopher Salamone, who made approximately $322,000 in illegal profits. Viggiano also tipped off his college friend Stephen Forlano, who made around $113,000 in illegal profits. Forlano then tipped off Nathan Bleckley, resulting in illegal gains of nearly $25,000. The SEC is seeking injunctive relief, disgorgement, and civil penalties. The U.S. Attorney's Office for the Southern District of New York has also announced criminal charges against Viggiano, Forlano, and Salamone.

via SEC.gov|

#charges #finance #financial-industry

finance3 years ago•3 min saved

"Pfizer's $31 Billion Bond Sale Marks Fourth-Largest Deal Ever for Seagen Takeover Financing"

Pfizer has sold $31 billion of debt in the fourth-largest US bond sale ever, which will finance its purchase of Seagen Inc. The pharmaceutical giant raked in over $85 billion in orders for the eight-part investment-grade deal, making it the largest debt financing for a merger or acquisition this year. The bond sale comes amid a rush by companies to tap capital markets ahead of a potential jump in borrowing costs sparked by the US debt ceiling standoff. Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. managed the sale.

via Yahoo Finance|

#bond-sale #capital-markets #debt-financing