India's conglomerate Adani Group agreed to acquire stakes in two cement companies controlled by Switzerland-based Holcim Group for $10.5 billion.
Swedish Match AB agreed to be acquired by Philip Morris International for $16 billion. Philip Morris has been reducing its dependance on cigarettes sales and be smoke-free but not tobacco-free by 2025.
PM
PM
Twitter agreed to be acquired by a company controlled by Elon Musk for $43.5 billion. The deal marks the end of a weeklong saga after the board took defensive measures to stay independent.
TWTR
TWTR
SailPoint Technologies soared 30% after the company agreed to be acquired by private equity firm Thoma Bravo for $6.9 billion or $65.25 a share. The cyber security and identity management firm has doubled its revenues in the last five years with mounting losses. SailPoint listed its stock for $12 a share in a public offering on Nov 17, 2017 and raised $240 million according to 123jump data.
SAIL
Two leading Europe-based independent oil tankers companies agreed to merge in a fragmented industry. Frontline and Euronav have been in discussion for at least five months and shipping rates are only now perking up after hitting the low in the second-half of 2021. The $4.2 billion merger will create the largest oil tanker company with 69 VLCCs and 57 Suezmaxes and 20 Aframax tankers.
Berkshire Hathaway acquired about 11% stake or 121 million shares for $4.2 billion in HP Inc, according to regulatory filings. Warren Buffett has stepped up his investment activities after acquiring Alleghany Insurance for $11.6 billion last month. In recent years the famed investor has taken substantial investments in Apple and IBM after shunning tech companies for decades.
HPQ
HPQ
JetBlue Airways has made an unsolicited $3.63 billion bid for Spirit Airlines. The all-cash offer values the discount carrier at roughly 40% higher than the current merger agreement with Frontier at $2.9 billion. The Justice Department is currently suing JetBlue for its alliance with American Airlines. A Spirit-Frontier merger will build a nationwide network of a ultra low-cost service.
JBLU
JBLU
Farfetch Ltd agreed to take a minority stake of $200 million in Nieman Marcus. The investment will be used to the retailer in expanding its online capabilities and re-plarform and imporve mobile capabilities of Bergdorf Goodman. In addition, Neiman and Bergdorf will join Farfetch Marketplace.
FTCH
FTCH
General Motors and Honda Motor announced a partnership to manufacture electric vehicles using the battery technology developed by GM. The partnership plans to use solid state battery technology and deliver the vehicles in 2027 at a price lower than $30,000. Yesterday, Tesla announced a 69% surge in EV sales in the first quarter and doubled its 2021 sales to 936,000 units.
GM TSLA HMC
GM TSLA HMC
UnitedHealth agreed to acquire home healthcare provider LHC Group for $5.4 billion in cash. The largest health insurer expands its home health services for chronic illnesses suffered by mostly older patients. The largest health insurer agreed to pay $170 a share, 8% premium to the last close and the deal is expected to add to earnings in 2023.
UNH LHCG
UNH LHCG