| Target | Acquirer | Value ($millions) | Synopsis |
| E*TRADE Financial Corp | Morgan Stanley | 13,026.2 | Morgan Stanley (MS) definitively agreed to merge with E*TRADE Financial Corp (E*TRADE), an Arlington-based provider of financial and online securities brokerage services, in a stock swap transaction valued at $13. 026 billion. MS offered 1.0432 common share per E*TRADE. Based on MS' closing stock price of $56.31 on 19 February 2020, the last full trading day prior to the announcement, each E*TRADE share was valued at $58. 743. Originally, in June 2017, E*TRADE was rumored to be seeking a buyer for its entire share capital. |
| Legg Mason Inc | Franklin Resources Inc | 6,592.5 | Franklin Resources Inc (Franklin) definitively agreed to merge with Legg Mason Inc (Legg), a Baltimore-based provider of asset management and related financial services, for $50 in cash per share, or a total value of an estimated $6.592 bil, including the assumption of an estimated $2 billion in liabilities. Originally, in February 2019, Franklin was rumored to be planning to acquire the entire share capital of Legg. |
| CardWorks Inc | Ally Financial Inc | 2,647.6 | Ally Financial Inc (Ally) definitively agreed to acquire CardWorks Inc, a Woodbury-based provider of consumer lending services, for an estimated $2.648 billion. The consideration was to consist of $1.35 billion in cash and the issuance of 39.5 million in Ally's common share valued at $1.298 billion. The shares were valued based on Ally's closing stock price of $32.85 on 14 February 2020, the last full trading day prior to the announcement. |
| RSA Security Inc | RSA Security Inc SPV | 2,075.0 | RSA Security Inc SPV, a special purpose acquisition vehicle formed by Symphony Technology Group Inc, Ontario Teachers' Pension Plan and AlpInvest Partners NV, definitively agreed to acquire RSA Security Inc (RSA) , a Bedford-based software publisher, from EMC Corp, owned by Dell Inc (Dell), for an estimated $2.075 billion in cash, in a leveraged buyout transaction. Originally, in November 2019, Dell was rumored to be seeking a buyer for RSA. |
| Performance Team Llc | AP Moller-Maersk A/S | 545.0 | AP Moller-Maersk A/S of Denmark, a unit of AP Moller Holding A/S, agreed to acquire Performance Team LLC, an El Segundo-based provider of warehousing and storage services, for a total $545 mil. |
| Saber Interactive Inc-Core | Embracer Group AB | 525.0 | Embracer Group AB of Sweden agreed to acquire core assets of Saber Interactive Inc, a Maplewood-based reproducer of software, for a total $525 million. The consideration was to consist of $100 million in cash, 6.210 million common B shares values at $50 mil, and up to $375 million in profit-related payments. |
| Victoria's Secret Stores Brand | Sycamore Partners LLC | 525.0 | Sycamore Partners LLC (SPL) planned to acquire a 55% interest in Victoria's Secret Stores Brand Management Inc (VS), a Columbus-based manufacturer of apparels, from L Brands Inc (LBI), for an estimated $525 mil, in a leveraged buyout transaction. Originally, in January 2020, SPL was rumored to be planning to acquire VS, from LBI. |
| Adesto Technologies Corp | Dialog Semiconductor PLC | 408.1 | Dialog Semiconductor PLC of Germany definitively agreed to acquire the entire share capital of Adesto Technologies Corp, a Santa Clara-based manufacturer of semiconductors and related device, for $12.55 in cash per share, or a total value of $408.071 mil. |
| PersonalizationMall.com Inc | 800-Flowers Inc | 252.0 | 800-Flowers Inc, a unit of 1-800-Flowers.com Inc, definitively agreed to acquire the entire share capital of PersonalizationMall.com Inc, a Burr Ridge-based provider of ecommerce retail services, from Bed Bath & Beyond Inc, for a total $252 mil. |
| Empire Packing Co LP-Case | JBS USA Holdings Inc | 238.0 | JBS USA Holdings Inc, a unit of JBS SA, planned to acquire Case Ready & Ledbetter Brand of Empire Packing Co LP, a Memphis-based provider of packaging and labeling services, for a total $238 mil. |
| Radius Bancorp Inc | LendingClub Corp | 188.3 | LendingClub Corp (LC) definitively agreed to merge with Radius Bancorp Inc, a Boston-based savings institution, for an estimated $188.284 million. The consideration was to consist of $138.75 million in cash and the issuance of 3.761 million common shares valued at $49.534 million. The shares were valued based on LC's closing stock price of $13.17 on 14 February 2020, the last full trading day prior to the announcement. |
| Commerce Finl Hldg Inc | Nicolet Bankshares Inc | 129.6 | Nicolet Bankshares Inc definitively agreed to acquire the entire share capital of Commerce Financial Holdings Inc, a West Bend-based commercial bank, for a total $129.6 mil. |
| Dolce Villagio Townhomes,AZ | Bascom Arizona Ventures LLC | 11.5 | Bascom Arizona Ventures LLC, jointly owned by Bascom Group LLC and Multifamily Advisors LLC, acquired Dolce Villagio Townhomes, a Tempe-based lessor of residential buildings and dwellings, for a total $11.5 mil. |
| Fusion Pkg I LP | AptarGroup Inc | | AptarGroup Inc agreed to acquire Fusion Packaging I LP, a Dallas-based nondurable goods merchant wholesaler. |
| Coastal Corrugated Inc | Atlantic Corp | | Atlantic Corp acquired Coastal Corrugated Inc, a Charleston-based provider of packaging and labeling services. |
| Harbor Platform Inc | BitGo Inc | | BitGo Inc acquired Harbor Platform Inc, a San Francisco-based software publisher. The terms of the deal were not disclosed. |
| Premier Processing Llc | Cadence Aerospace LLC | | Cadence Aerospace LLC, a unit of Arlington Capital Partners LP, acquired Premier Processing LLC, a Southfield-based provider of consumer lending services. |
| Barton Creek Senior Living | CareTrust REIT Inc | | CareTrust REIT Inc acquired Barton Creek Senior Living, a Bountiful-based elderly home operator. |
| Wilcox Paper LLC | Cntrl Natl Gottesman-Lindenmey | | Central National Gottesman Inc-Lindenmeyr Publications Group, a unit of Central National Gottesman Inc, acquired Wilcox Paper LLC, a Champlin-based manufacturer of paper industry machinery. |
| Growers Holdings Inc | Icl Israel Chem Ltd | | Icl Israel Chemicals Ltd of Israel acquired Growers Holdings Inc, a Durham-based provider of farm data analytics services. Terms were not disclosed. |
| Broadway Technology LLC | Investor Group | | An investor group, comprised of ION Investment Group Ltd and Long Ridge Equity Partners LLC planned to acquire an undisclosed majority interest in Broadway Technology LLC, a New York-based software publisher. |
| Akoya LLC | Investor Group | | An investor group, comprised of Bank of America Corp, Capital One Financial Corp, Citigroup Inc, KeyBank NA,Cleveland,Ohio, a unit of KeyCorp,Cleveland,Ohio, PNC Financial Services Group Inc, US Bancorp,Minneapolis, Minnesota, Wells Fargo & Co, Clearing House Payments Co LLC, a unit of Financial Services Roundtable, TD Bank NA, a unit of Toronto- Dominion Bank, Huntington Bancshares Inc,Columbus,Ohio, JPMorgan Chase & Co and Truist Financial Corp acquired an undisclosed majority interest in Akoya LLC, a Boston-based provider of data processing and hosting services, from Fidelity Investments, ultimately owned by FMR LLC. |
| Aurora City Place | Prep Ppty Grp Inc | | PREP Property Group Inc acquired Aurora City Place, an Aurora-based lessor of nonresidential buildings. |
| I Technical Services LLC | Prime Technological Services | | Prime Technological Services LLC acquired I Technical Services LLC, an Alpharetta-based manufacturer of printed circuit boards, electronics assemblies and electrical and electronic products. |
| Bath & Body Works Direct Inc | Shareholders | | L Brands Inc planned to spin off Bath & Body Works Direct Inc, a Reynoldsburg-based manufacturer of toilet preparations, to its shareholders. |
| TRAC Intermodal Corp | Stonepeak Infrastructure | | Stonepeak Infrastructure Partners LP definitively agreed to acquire TRAC Intermodal Corp, a Princeton-based provider of machinery and equipment rental and leasing services, from Fortress Investment Group LLC, ultimately owned by Softbank Group Corp, in a leveraged buyout transaction. |
| Len The Plumber Inc | Thompson Street Capital Part | | Thompson Street Capital Partners LP acquired Len The Plumber Inc, a Baltimore-based plumbing, heating and air-conditioning contractor, in a leveraged buyout transaction. Terms were not disclosed. |
| Freestyle Marketing LLC | Touchstone Merchandise Grp | | Touchstone Merchandise Group LLC acquired Freestyle Marketing LLC, a Scottsdale-based provider of marketing consulting services. Terms were not disclosed. |
| US M&A Deals Announced February 14 to 20, 2020 | | | |
