Weekly wrap: BC Partners, CBS, Crescent

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Signage is displayed outside of Viacom Inc. headquarters in New York, U.S., on Thursday, Jan. 25, 2018. Viacom Inc. is scheduled to release earnings figures on February 8. Photographer: Victor J. Blue/Bloomberg

Target Acquirer Value ($millions) Synopsis
Viacom Inc CBS Corp 11695.4 CBS Corp (CBS), a unit of National Amusements Inc (NAI), definitively agreed to merge with Viacom Inc (Viacom) , a New York City-based producer of motion pictures and videos, from NAI, in a stock swap transaction valued at $11.695 bil, in an internal reorganization. CBS offered 0.59625 common shares per Viacom share. Based on CBS' closing stock prices of $48.88 and $48.04 on 12 August 2019, the last full trading day prior to the announcement, Viacom shares were valued at $29.145 and $28.644. Upon completion, CBS and Viacom were to own 61% and 39% in the merged entity named ViacomCBS Inc, respectively. Originally, in April 2018, CBS was rumored to be planning to merge with Viacom.
Presidio Inc BC Partners LLP 1372.3 BC Partners LLP of the UK definitively agreed to acquire the entire share capital of Presidio Inc (Presidio), a New York City-based provider of infrastructure platform solutions, from AP VIII Aegis Holdings LP (42.442%), a unit of Apollo Investment Fund VIII LP and other shareholders, for $16 in cash per share, or a total $1.372 bil, in a leveraged buyout transaction. Upon completion, Presidio common shares were to be delisted from NASDAQ Global Select Market.
Broadmark Capital LLC Trinity Merger Corp 1198.2 Trinity Merger Corp definitively agreed to merge with Broadmark Capital LLC, a Seattle-based provider of real estate credit services, for a total $1.198 bil, in a stock swap transaction. The consideration was to consist of $1.1 billion in common shares and $98.16 mil cash. Upon completion, the merged entity was to be named Broadmark Realty Capital Inc and be listed in New York Stock Exchange.
Wesco Aircraft Holdings Inc Pattonair Ltd 1122.7 Pattonair Ltd of the UK, a unit of Platinum Equity LLC, definitively agreed to merge with Wesco Aircraft Holdings Inc (Wesco), a Valencia-based wholesaler of aircraft parts and equipment, from The Carlyle Group LP (23.155%), Snyder Trusts (10.546%) and Makaira Partners LLC (10.845%) and other shareholders, for $11.05 in cash per share, or a total $1.123 bil, in a leveraged buyout transaction. Upon completion, Wesco will be delisted from the New York Stock Exchange. Originally, in May 2019, Wesco was rumored to be seeking a buyer for the entire share capital of the company.
Mutual of Omaha Bank CIT Bank NA 1000.0 CIT Bank NA, a unit of CIT Group Inc (CIT Group), definitively agreed to merge with Mutual of Omaha Bank, an Omaha-based federal savings bank, from Mutual of Omaha Insurance Co, for a total value of $1 billion. The consideration was to consist of $850 mil in cash and $150 mil in CIT Group common shares.
Atlas Intermediate Holdings LLC Boxwood Merger Corp 617.0 Boxwood Merger Corp definitively agreed to merge with Atlas Intermediate Holdings LLC, an Austin-based provider of support services, for a total $617 mil. The consideration was to consist of $337 mil in cash, $120 mil in units, and the assumption of $160 mil in liabilities.
Cavion Inc Jazz Pharmaceuticals PLC 312.5 Jazz Pharmaceuticals PLC acquired Cavion Inc, a Charlottesville-based manufacturer of pharmaceutical preparation, for an estimated $312.5 mil. The consideration consisted of $52.5 mil and up to $260 mil in profit- related payments.
Two River Bancorp OceanFirst Financial Corp 183.1 OceanFirst Financial Corp (OceanFirst) definitively agreed to merge with Two River Bancorp, a Middletown-based commercial bank, for a total $183.104 mil, in a stock swap transaction. The consideration was to consist of 0.6663 common share and $5.375 in cash per share. The shares were valued based on Ocean First's closing stock price of $23.14 on 8 August 2019, the last full trading day prior to the announcement. Concurrently, Ocean definitively agreed to merge with Country Bank Holding Co Inc.
Country Bank Holding Co Inc OceanFirst Financial Corp 102.2 OceanFirst Financial Corp (OceanFirst) definitively agreed to merge with Country Bank Holding Co Inc (Country Bank), a New York City-based commercial bank, in a stock swap transaction valued at $102. 233 mil. OceanFirst offered 2000 common shares per Country Bank share. Based on OceanFirst's closing stock price of $23.14 on 8 August 2019, the last full trading day prior to the announcement, each Country Bank's share was valued at $46,280. Concurrently, OceanFirst definitively agreed to merge with Two River Bancorp
Janesville Fiber Solutions Motus Integrated Technologies 85.0 Motus Integrated Technologies, a unit of Atlas Holdings LLC, definitively agreed to acquire Janesville Fiber Solutions, a Southfield-based manufacturer of motor vehicle seats and interior trims, from Jason Industries Inc, for an estimated $85 mil.
Alcentra Capital Corp Crescent Capital BDC Inc 40.9 Crescent Capital BDC Inc definitively agreed to merge with Alcentra Capital Corp (Alcentra), a New York-based business development company, for $3.178 in cash, or a total value of $40.919 mil. Originally, in April 2019, Alcentra was rumored to be seeking a buyer for the company.
Peoples Bankshares Inc,Montross,Virginia C&F Financial Corp 21.5 C&F Financial Corp (C&F) definitively agreed to merge with Peoples Bankshares Inc (Peoples), a Montross-based commercial bank, for $54. 989 per share, or a total $21.525 mil, in a stock swap transaction. The consideration was to consist of $27 in cash per share and 0.5366 C&F common share per Peoples share. Based on C&F's closing stock price of $52.16 on 12 August 2019, the last full trading day prior to the announcement, each Peoples share was valued at $54.989.
Campbellohio-Water Treatment & Distribution Assets Aqua America Inc 7.5 Aqua America Inc agreed to acquire water treatment & distribution assets of Campbellohio, a Campbell-based city government, the US state-owned Campbell,Ohio, for a total $7.5 mil.
Dabble Extracts Medicine Man Technologies Inc 3.5 Medicine Man Technologies Inc (Medicine Man Technologies) definitively agreed to acquire the entire share capital of Dabble Extracts, a Colorado Springs-based cannabis concentrate company, for a total $3.511 mil, in a stock swap transaction. The consideration was to consist of $0.75 mil in cash and 0. 997 mil common shares valued at $2.761 mil. The shares were valued based on Medicine Man Technologies' closing stock price of $2.77 on 9 August 2019, the last full trading day prior to the announcement.
Real Broker LLC ADL Ventures Inc ADL Ventures Inc of Canada entered into a Letter of Intent {LoI} to acquire the entire share capital of Real Broker LLC, real estate agency.
Premier Consulting Associates LLC AssuredPartners Inc AssuredPartners Inc, a unit of Apax Partners LP, acquired Premier Consulting Associates LLC, an Amherst-based provider of health benefits consulting services
Tumblr Inc Automattic Inc Automattic Inc planned to acquire Tumblr Inc, a New York-based internet portal operator, from Verizon Communications Inc, in a reverse takeover transaction. Originally, in May 2019, Verizon Communications Inc was rumored to be seeking a buyer for its Tumblr Inc unit. Pornhub was rumored bidder.
WBR Insurance Agency LLC Brown & Brown Insurance Agency of Virginia Inc Brown & Brown Insurance Agency of Virginia Inc, a unit of Brown & Brown Inc, acquired WBR Insurance Agency LLC, a Virginia Beach-based insurance agency. The transaction was to include Wilson Insurance Agency Inc, Bell Insurance Agency Corp and Robertson Insurance Agency Co.
Ritter Communications Grain Management LLC Grain Management LLC definitively agreed to acquire an undisclosed majority interest in Ritter Communications, a Jonesboro-based wireless telecommunications carrier, from E Ritter & Co, in a leveraged buyout transaction.
GSL Biotech LLC GraphPad Software Inc GraphPad Software Inc, a unit of Insight Venture Partners LLC, acquired GSL Biotech LLC, a Chicago-based software publisher.
Insys Therapeutics Inc-Assets Hikma Pharmaceuticals PLC Hikma Pharmaceuticals PLC of the UK agreed to acquire assets of the bankrupt Insys Therapeutics Inc, a Chandler-based manufacturer of pharmaceutical preparation. Originally, in June 2019, the bankrupt Insys Therapeutics Inc announced that it was seeking a buyer for its assets.
Brooklyn Nets Basketball Team Joseph Tsai Joseph Tsai of Canada was rumored to be planning to acquire the remaining 51% interest, which it did not already own, in Brooklyn Nets Basketball Team, a Brooklyn-based sports club, from Onexim Sports & Entertainment Holding Usa Inc, owned by Gruppa Oneksim OOO. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $2.35 bil.
C&A Industries Inc Medical Solutions LLC Medical Solutions LLC, a unit of TPG Growth LLC, definitively agreed to acquire C&A Industries Inc, an Omaha-based provider of executive search services. Terms were not disclosed.
Regent Wealth Management Group Inc Mercer Global Advisors Inc Mercer Global Advisors Inc, a unit of Marsh & McLennan Cos Inc, acquired Regent Wealth Management Group Inc, a Woodbridge-based provider of financial investment services.
The Mechanic Group Specialty Program Group LLC Specialty Program Group LLC, a unit of Hub International Ltd, acquired The Mechanic Group, a Pearl River-based insurance agency.
Greats Brand Inc Steven Madden Ltd Steven Madden Ltd acquired Greats Brand Inc, a Brooklyn-based manufacturer and retailer of footwear.
Pivotal Software Inc VMware Inc VMware Inc, a unit of EMC Corp, was rumored to be planning to acquire the entire share capital of Pivotal Software Inc, a San Francisco-based software publisher. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $4 bil.
Best & Cavallaro William Pitt Sotheby's International Realty William Pitt Sotheby's International Realty acquired the entire share capital of Best & Cavallaro, a Salisbury-based law office.
Zoom North America LLC Zoom Corp Zoom Corp of Japan planned to raise its interest to 66.666%, from 33.333%, by acquiring a 33.333% stake in Zoom North America LLC, musical instruments retailer, from Rudolph Family Group LLC and Scott Elliot Goodman.
US M&A Deals Announced August 09 to 15, 2019
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