TargetAcquirerValue ($millions)Synopsis
Audentes Therapeutics IncAstellas Pharma Inc3005.5Astellas Pharma Inc of Japan intended to launch a tender offer to acquire the entire share capital of Audentes Therapeutics Inc (Audentes), a San Francisco-based manufacturer of biological products, for a $60 in cash per share or a total value of $3.005 billion. The offer was conditional upon at least a majority of Audentes’ shares being tendered. Upon completion Audentes will be delisted from NASDAQ.
Instructure IncPIV Purchaser LLC1816.3PIV Purchaser LLC, a special purpose acquisition vehicle formed by Thoma Bravo LLC, definitively agreed to merge with Instructure Inc (Instructure), a Salt Lake City-based developer of software, for $47.6 in cash per share, or a total value of $1.816 bil, in a leveraged buyout transaction. Originally, in November 2019, Instructure announced that it was seeking a buyer for its entire share capital.
AK Steel Holding CorpCleveland-Cliffs Inc1083.1Cleveland-Cliffs Inc (Cleveland-Cliffs) definitively agreed to merge with AK Steel Holding Corp (AK Steel), a West Chester-based manufacturer of flat- rolled carbon, stainless and electrical steel products, in a stock swap transaction valued at $1.083 billion. Cleveland-Cliffs offered 0.4 common share per AK Steel share. Based on Cleveland- Cliffs’ closing stock price of $8.41 on 2 December 2019, the last full trading day prior to the announcement, each AK Steel share was valued at $3.364. Upon completion, Cleveland-Cliffs and AK Steel shareholders were to own 68% interest and 32% stake in the merged entity, respectively.
Wellesley Bancorp IncCambridge Bancorp121.7Cambridge Bancorp Inc (Cambridge Bancorp) definitively agreed to acquire the entire share capital of Wellesley Bancorp Inc (Wellesley Bancorp), a Wellesley-based commercial bank, for a total $121.694 mil, in a stock swap transaction. Cambridge Bancorp offered a choice $45.54 per share or 0.580 Cambridge Bancorp common share per Wellesley Bancorp common share. The shares were valued based on Wellesley Bancorp’s closing stock price of $76.36 on 04 December 2019, the last full trading prior to the announcement of the transaction, each Wellesley Bancorp shares were valued at $121.693 mil
Carey Watermark Inv Inc-HotelNoble Investment Group LLC86.6Noble Investment Group LLC acquired 2 hotel portfolio of Carey Watermark Investor Inc, a New York City-based lessor of real estate property, for a total $86. 6 mil.
Schiller Grounds Care-MowerClark Equipment Co81.7Clark Equipment Co, a unit of Doosan Bobcat Inc, agreed to acquire mower business of Schiller Grounds Care Inc, a South Hampton-based manufacturer of lawn and garden equipment, for a total $81.686 mil.
Tocqueville Asset Mgmt LP-TocqSprott Inc50.0Sprott Inc (Sprott) of Canada definitively agreed to acquire Tocqueville Gold Strategies of Tocqueville Asset Management LP, a New York-based portfolio manager, for an amended $50 million. The transaction was to consist of $12.5 million in cash, $2.5 million in common shares and up to $35 million in profit-related payments. Originally, Sprott offered an estimated $10 million in cash, $5 million in common shares and up to $35 million in profit-related payments.
Torotel IncStandex International Corp48.0Standex International Corp definitively agreed to acquire the entire share capital of in Torotel Inc, an Olathe-based manufacturer of electronic coils, transformers and other inductors, for a total $48 mil, including the assumption of $1.4 million in liabilities.
Tech Data CorpBerkshire Hathaway IncBerkshire Hathaway Inc was rumored to be planning to acquire the entire share capital of Tech Data Corp (Tech Data), a Clearwater-based wholesaler of technology products. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $5.14 billion. Originally, Tiger Midco LLC, a special acquisition vehicle formed by Apollo Global Management Inc, definitively agreed to merge with Tech Data.
Hogan Finl Mgmt LlcCreative Planning IncCreative Planning Inc acquired Hogan Financial Management LLC, a Milwaukee-based provider of administrative management and general management consulting services.
Illinicare Health Plan IncCVS Health CorpCVS Health Corp planned to acquire Illinicare Health Plan Inc, a Westmont-based direct health and medical insurance carrier, from Centene Corp.
Med Sys Tech LlcDirectMed Parts & Service LLCDirectMed Parts & Service LLC, a unit of Mercury Partners Management LLC, acquired Medical Systems Technologies LLC, a Longmont-based manufacturer of medical instruments.
PRTI IncEnergen Global LtdEnergen Global Ltd of Malta agreed to acquire an undisclosed majority interest in PRTI Inc, a Franklinton-based provider of tire to energy conversion services.
SnapApp IncFlyp Technologies IncFlyp Technologies Inc of Canada acquired SnapApp Inc, a Boston-based developer of software.
Intelliquip IncFPX LLCFPX LLC, a unit of HGGC LLC, acquired Intelliquip Inc, a Bethlehem-based provider of custom computer programming services.
Vertiv CoGs Acquisition Holdings CorpGs Acquisition Holdings Corp was rumored to be planning to acquire Vertiv Co, a Columbus-based manufacturer of computer peripheral equipment, from Platinum Equity LLC. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $5 bil.
ServlineHomeserve PLCHomeserve PLC of the UK acquired Servline, a Chattanooga-based water supply system operator.
HMBD IncHub International LtdHub International Ltd, a unit of Hellman & Friedman LLC, acquired Hamman Miller Beauchamp Deeble Inc, a Long Beach-based insurance agency.
Pie Forensic Consultants IncLerch Bates IncLerch Bates Inc acquired Pie Forensic Consultants Inc, an Arvada-based provider of administrative management and general management consulting services.
Global Stem Cells Group IncMeso Numismatics IncMeso Numismatics Inc planned to acquire Global Stem Cells Group Inc, a Miami Lakes-based medical equipment and supplies merchant wholesaler.
Synesso IncMiddleby CorpMiddleby Corp acquired Synesso Inc, a Seattle-based commercial equipment merchant wholesaler.
GAT Airline Ground Support IncMoog IncMoog Inc acquired GAT Airline Ground Support Inc, a Peachtree-based provider of air transportation support services, from Atlantic Street Capital Management LLC. Concurrently, Moog Inc acquired Gat Gesellschaft Fuer Antriebstechnik GmbH. The two trasnactions were to have a combined deal value of EUR 48.5 million (USD 53.423 mil).
New Haven HotelNoble Investment Group LLCNoble Investment Group LLC acquired New Haven Hotel, a New Haven-based hotel operator.
BFY Brands LLCPepsiCo IncPepsiCo Inc definitively agreed to acquire BFY Brands LLC, a Middletown-based manufacturer of foods.
Tvs FiltersPleatco LLCPleatco LLC acquired Tvs Filters, a Bessemer-based manufacturer of air purification equipment. Terms of the transaction were not disclosed.
Scantron CorpTransom Capital Group LLCTransom Capital Group LLC acquired Scantron Corp, a Tustin-based manufacturer of computer peripheral equipment, from John H Harland Co, in a leveraged buyout transaction.
URS Mgmt Svcs Inc-Finl SvcsTransworld Systems IncTransworld Systems Inc, a unit of Platinum Equity LLC, definitively agreed to acquire financial services business of URS Management Services Inc, a Houston-based provider of financial investment services.
N&S Supply of Fishkill IncWatsco IncWatsco Inc acquired N&S Supply of Fishkill Inc, a Fishkill-based air- conditioning equipment and supplies merchant wholesaler. Terms were not disclosed.
Versare Solutions LLCWilsquare Capital LLCWilsquare Capital LLC acquired Versare Solutions LLC, a Minneapolis-based furniture store operator.
US M&A Deals Announced November 29 to December 05, 2019