TargetAcquirerValue ($millions)Synopsis
SunTrust Banks IncBB&T Corp28,281.6BB&T Corp definitively agreed to merge with Suntrust Banks Inc, an Atlanta-based bank holding company, via a stock swap transaction valued at $28.282 billion. BB&T offered 1.295 common shares per Suntrust common share. Based on BB&T’s closing stock price of $48.53 on 6 February 2019, the last full trading day prior to the announcement, each Suntrust share was valued at $62.846. Upon completion of the deal, BB&T and Suntrust shareholders will own 57% and 43% stake of the merged entity.
Ultimate Software Group IncUltimate Software Group Inc SPV10,367.1Ultimate Software Group Inc SPV, a special purpose acquisition vehicle formed by Hellman & Friedman LLC, Blackstone Group LP, GIC Pte Ltd, Canada Pension Plan Investment Board, JMI Equity Inc, and other investors, definitively agreed to acquire the entire share capital of Ultimate Software Group Inc, a Weston-based software developer of payroll and employee management, for $331.5 in cash per share or a total of $10.367 billion via a leveraged buyout transaction.
Liberty Expedia Holdings IncExpedia Inc2,442.1Liberty Expedia Holdings Inc’s unit Expedia Inc plans to acquire the entire share capital of Liberty Expedia Holdings Inc, an Englewood-based provider of ecommerce retail services, via a stock swap transaction valued at $2.442 billion. Expedia offered 0.347 common shares per Liberty share. Based on Expedia’s closing stock price of $121.97 on 1 February 2019, the last full trading day prior to the announcement, each Liberty share was valued at $42.324.
Actagro LLCNutrien Ltd340.0Nutrien Ltd of Canada definitively agreed to acquire the entire share capital of Actagro LLC, a Fresno-based nitrogenous fertilizers manufacturer, from RedCloud Capital Inc for about $340 mil.
SunCoke Energy Partners LPSunCoke Energy Inc271.3SunCoke Energy Inc (SXC) definitively agreed to acquire the remaining 38.35% stake it does not already own in SunCoke Energy Partners LP (SXCP), a Lisle-based steel mill operator, for $271.262 million via a stock swap transaction. SXC offered SXCP 1.4 SXC common share for every SXCP common share not owned. The shares were valued based on SXC’s closing stock price of $10.93 on 4 February 2019, the last full trading day prior to the announcement. Upon completion of the deal, SXCP common shares will be delisted from the New York Stock Exchange.
Truffles Tribeca,New York City,New YorkRelated Cos LP260.0Related Cos LP acquired Truffles Tribeca, a 291-unit apartment building in New York City, for $260 mil.
Maxwell Technologies IncTesla Inc217.9Tesla Inc agreed to acquire the entire share capital of Maxwell Technologies Inc, a San Diego-based electronic capacitors manufacturer. Tesla offered $4.75 per share or a total of $217.874 million via a stock swap transaction.
Undisclosed Logistics Portfolio(21)Dream Industrial Real Estate Investment Trust179.1Dream Industrial Real Estate Investment Trust of Canada acquired a portfolio of 21 industrial buildings in five cities across the Midwest US, namely, Chicago, Cincinnati, Columbus, Indianapolis and Louisville, for a total of $179.1 million (CAD$235 mil).
RhythmOne PLCTaptica International Ltd176.0Taptica International Ltd of Israel plans to merge with RhythmOne PLC, a San Francisco-based internet service provider, for $176 mil.
Ringers Technology LLCAnsell Ltd70.0Ansell Ltd of Australia acquired Ringers Technology LLC, a Houston-based gloves maker, for $70 mil.
Transit Mix Concrete CoLafargeHolcim Ltd27.0LafargeHolcim Ltd of Switzerland acquired Transit Mix Concrete Co, a Colorado Springs-based ready-mix concrete manufacturer, from Continental Materials Corp for $27 mil.
Innovizant LLCR Systems Inc4.0R Systems International Ltd’s unit R Systems Inc acquired the entire share capital of Innovizant LLC, a Downers Grove-based provider of data processing and hosting services, for $4 mil.
HniAcrisure LLCAcrisure Holdings Inc’s unit Acrisure LLC acquired HNI, a New Berlin-based investment advisor specializing in insurance benefits and de-risking strategies.
TA Corporate Holdings IncAirgas IncAir Liquide International SA’s unit Airgas Inc definitively agreed to acquire TA Corporate Holdings Inc, a Danbury-based wholesaler of chemical and allied products.
TEN Publishing Media LLC-Adventure Sports NetworkAmerican Media IncAMI Merger Corp’s unit American Media Inc acquired Adventure Sports Network of TEN Publishing Media LLC, a Bonita Springs-based periodical publisher.
Lamber Riddle Schimmel & Co LLLPBrown & Brown Insurance Agency of Virginia IncBrown & Brown Inc’s unit Brown & Brown Insurance Agency of Virginia Inc acquired Lamber Riddle Schimmel & Co LLLP, a Fairfax-based insurance agency.
HCHoodCo IncCook & Boardman IncLittlejohn & Co LLC’s unit Cook & Boardman Inc acquired HCHoodCo Inc, a Bellefonte-based building equipment contractor.
Arsenal Energy Holdings LLCCreditorsBankrupt Arsenal Energy Holdings LLC, a Wexford-based producer of crude petroleum and natural gas, plans a debt restructuring transaction with creditors. Creditors will receive equity interest in exchange for outstanding debt. Upon completion of the deal, creditors will hold a majority interest in the restructured Arsenal. The book value of the existing debt that will be exchanged under the terms of the offer is $861 mil.
Noland Drilling EquipmentEpiroc USA LLCEpiroc USA LLC acquired Noland Drilling Equipment, a Roanoke-based manufacturer of oil and gas field machinery and equipment.
WhiteWater Midstream LLCFirst Infrastructure Capital Advisors LLCFirst Infrastructure Capital Advisors LLC definitively agreed to acquire WhiteWater Midstream LLC, an Austin-based provider of support services for oil and gas operations, from Denham Capital Management LP and Ridgemont Partners Management LLC. The transaction would include WhiteWater’s 60% stake in the Agua Blanca pipeline system. Concurrently, First Infrastructure definitively agreed to acquire a 20% stake in Agua Blanca from WPX Energy Inc. Originally, in November 2018, Denham and Ridgemont were rumored to be seeking a buyer for WhiteWater.
Worms Way Inc-Certain AssetsGrowgeneration CorpGrowGeneration Corp acquired certain assets of Worms Way Inc, a Mooresville-based wholesaler of indoor and traditional gardening supplies ultimately owned by Sun Capital Partners Inc.
HBP Retirement Group IncHanson McClain IncParthenon Capital Partners LLC’s unit Hanson McClain Inc acquired HBP Retirement Group Inc, a Napa-based investment advisor.
MIOX CorpIndustrie De Nora SpAIndustrie De Nora SpA of Italy acquired MIOX Corp, an Albuquerque-based wholesaler of electrical apparatuses and equipment, from Johnson Matthey PLC.
Ecolab Inc-Upstream Energy BusinessShareholdersEcolab Inc plans to spinoff its upstream energy business to its shareholders.
Foster Farms LLCTyson Foods IncTyson Foods Inc is rumored to be planning to acquire Foster Farms, a Livingston-based poultry processor, for around $2 bil.
GFI Insurance Brokerage IncUSI Insurance Services LLCUSI Insurance Services LLC, jointly owned by KKR & Co LP and Caisse De Depot Et Placement Du Quebec, acquired New York City-based GFI Insurance Brokerage Inc.
Glynlyon IncWeld North LLCWeld North Holdings LLC’s unit Weld North LLC definitively agreed to acquire Glynlyon Inc, a Chandler-based educational technology company, from Linsalata Capital Partners Inc.
US M&A Deals Announced February 1 to 7, 2019
Source: Thomson Reuters