TargetAcquirerValue ($millions)Synopsis
Dupont-Nutrition & BiosciencesInternational Flavors & Fragra33500.0International Flavors & Fragrances Inc (IFF) definitively agreed to merge with the nutrition and biosciences division of Dupont De Nemours Inc (Dupont) , a Wilmington-based manufacturer of plastics materials, for an estimated $33.5 bil, in a stock swap reverse takeover transaction. IFF offered $26.2 billion in IFF common shares and an estimated $7.3 billion in cash. Upon completion, Dupont and IFF were to own 55.4% interest and 44.6% stake, respectively in the merged entity. Originally, in August 2019, DuPont announced that it was seeking a buyer for its nutrition and biosciences division. Royal DSM NV, Kerry Group Plc, Givaudan SA and International Flavors & Fragrances Inc were named as rumored bidders. Concurrently, DuPont Denmark Holding ApS, a unit of EI du Pont de Nemours & Co, ultimately owned by DuPont announced that it was seeking a buyer for its nutrition and biosciences division.
Cigna-Grp Life & Dis Ins BusNew York Life Insurance Co6300.0New York Life Insurance Co (New York Life) definitively agreed to acquire Group Life & Disability Insurance Business of Cigna Corp (Cigna), a Bloomfield-based provider of healthcare insurance services, for $6.3 billion in cash. Originally, in December 2019, New York Life was rumored to be planning to acquire the Nonhealth Benefits Unit of Cigna. MetLife Inc and Sun Life Financial Inc were named as rumored potential bidders.
ChampionX Holding IncApergy Corp4387.1Apergy Corp (Apergy) definitively agreed to merge with ChampionX Holding Inc, an upstream energy business, from Ecolab Inc (Ecolab), for an estimated $4.387 bil, in a stock swap reverse takeover transaction. The transaction was to include the issuance of an estimated 127 million Apergy common shares valued at $3.895 billion and the assumption of $492 million in liabilities. The shares were valued based on Apergy's closing stock price of 30.67 on 18 December 2019, the last full trading day prior to the announcement. Upon completion, Apergy and Ecolab shareholders were to own 38% stake and 62% interest in the merged entity, respectively. Originally, in February 2019, Ecolab planned to spin off its upstream energy business.
LogMeIn IncLogMeIn Inc SPV4354.9LogMeIn Inc SPV, a special purpose acquisition vehicle, formed by Francisco Partners Management LP (FPM) and Evergreen Coast Capital Corp, definitively agreed to acquire the entire share capital of LogMeIn Inc (LogMeIn), a Boston-based software-as-a-service company, for $86.05 in cash per share, or a total $4.355 bil, in a leveraged buyout transaction. Originally, in November 2019, LogMeIn was rumored to be seeking a buyer for the entire share capital of the company. Thoma Bravo LLC, FPM and Elliott Management Corp were named as rumored potential bidders.
Felix Energy Holdings II LLCWPX Energy Inc2568.8WPX Energy Inc (WPX) definitively agreed to merge with Felix Energy Holdings II LLC, a Denver-based provider of crude petroleum and natural gas services, from Felix Investments Holdings II LLC, for a total $2.569 bil, in a stock swap transaction. The consideration was to consist of $900 million in cash and the issuance of 1.53 million of WPX common shares valued at $1.669 billion. The shares were valued based on WPX's closing stock price of $10. 91 on 13 December 2019, the last full trading day prior to the announcement. Originally, in December 2019, WPX Energy Inc was rumored to be planning to acquire oil & gas assets of Felix Energy LLC (Felix Energy).
Dynetics IncLeidos Holdings Inc1650.0Leidos Holdings Inc definitively agreed to acquire Dynetics Inc, a Huntsville-based provider of computer systems design services, for $1.65 billion in cash.
Voya Finl Inc-Indiv Life BusResolution Life US1250.0Resolution Life US (Resolution), a unit of Resolution Life Group Holdings LP, definitively agreed to acquire the Individual Life & Other Legacy Non-Retirement Annuities Businesses of Voya Financial Inc, a New York City-based retirement, investment and insurance company, for a total $1.25 billion. The consideration was to consist of $902 million in cash, $225 million in Resolution's shares and $123 million in retained surplus notes.
TiVo CorpXperi Corp1206.6Xperi Corp (Xperi) definitively agreed to merge with TiVo Corp (TiVo), a San Jose-based entertainment technology company, for a total value of $1.207 bil, in a stock swap reverse takeover transaction. Xperi offered 0.455 common share per TiVo share. Based on Xperi's closing stock price of $20.94, the last full trading date prior to the announcement, each TiVo share was valued at $9.528. Upon completion, Xperi and TiVo were to own 46.5% stake and 53.5% interest in the merged entity, respectively.
SSEP-Industrial PropertyDRA Advisors LLC908.5DRA Advisors LLC acquired industrial property portfolio of Sealy Strategic Equity Partners LP, a Shreveport-based open-end investment fund, ultimately owned by Sealy & Co Inc, for $908.5 mil, in a leveraged buyout transaction.
Devon Energy Corp-AssetsBKV Oil & Gas Capital Partners770.0BKV Oil & Gas Capital Partners LP, a unit of Kalnin Ventures LLC, agreed to acquire barnett shale assets of Devon Energy Corp, an Oklahoma City-based producer of crude petroleum and natural gas, for $770 mil.
Penguin Random House LLCBertelsmann Se & Co KGaA675.0Bertelsmann Se & Co KGaA of Germany, a unit of Verlag Bertelsmann Stiftung, agreed to acquire the remaining 25% stake, which it did not already own, in Penguin Random House LLC, a New York-based book publisher, from its joint venture partner Pearson PLC for $675 mil.
Ferro Corp-Tile Coatings BusPigments Spain SL492.0Pigments Spain SL of Spain definitively agreed to acquire tile coatings business of Ferro Corp, a Mayfield Heights-based manufacturer of coatings, for an estimated $492 mil.
HemaCare CorpCharles River Labs Intl Inc359.9Charles River Laboratories International Inc definitively agreed to acquire the entire share capital of HemaCare Corp, a Van Nuys-based provider of research and development services, for $24.5 in cash per share, or a total $359.858 mil.
Gateway-Loan PortfolioSantander Consumer USA Hldgs77.0Santander Consumer USAHoldings Inc, a unit of Banco Santander SA, acquired indirect auto loan portfolio of Gateway One Lending & Finance, an Anaheim-based provider of consumer lending services, owned by TCF National Bank,Wayzata, Minnesota, for a total $77 mil, based on capitalization rate of 7%.
Zumbro River Brand IncSensoryEffects Flavor Co52.0SensoryEffects Flavor Co (SensoryEffects) planned to acquire the entire share capital of Zumbro River Brand Inc, an Albert Lea-based manufacturer of snack products, for a total $52 million. Concurrently, SensoryEffects acquired Prairie Resources LLC.
Clarity Solution Group LLCAccenture PLCAccenture PLC of Republic of Ireland agreed to acquire Clarity Solution Group LLC, a Chicago-based software publisher.
Coalfire Systems IncApax Partners LLPApax Partners LLP of the UK planned to acquire Coalfire Systems Inc, a Louisville-based software publisher.
Beatty Marketing & Sales LLCAspen Surgical Products IncAspen Surgical Products Inc, a unit of Audax Group LP, acquired Beatty Marketing & Sales LLC, a Redmond-based medical equipment and supplies merchant wholesaler.
Lanier Upshaw IncBaldwin Krystyn ShermanBaldwin Krystyn Sherman Partners LLC planned to acquire Lanier Upshaw Inc, a Lakeland-based insurance agency.
Unifi Software IncBoomi IncBoomi Inc planned to acquire Unifi Software Inc, a San Mateo-based provider of data processing and hosting services.
MosaicCaregiver IncCaregiver Inc planned to acquire Mosaic, an Omaha-based provider of services for the elderly and persons with disabilities.
CNS Network IncCNS Network Inc ESOPCNS Network Inc ESOP acquired the entire share capital of CNS Network Inc, a Garden Grove-based provider of biotechnology research and development services.
Stuart Berger Constr CorpCook & Krupa LLCCook & Krupa LLC acquired Stuart Berger Construction Corp, a Lynbrook-based provider of engineering services.
Scuf Gaming International LLCCorsair Components IncCorsair Components Inc, a unit of EagleTree Capital LP, agreed to acquire Scuf Gaming International LLC, a Suwanee-based manufacturer and wholesaler of game controllers.
Kaufman Lynn Constr IncEmployee Stock Ownership PlanKaufman Lynn Construction Inc ESOP acquired Kaufman Lynn Construction Inc, a Delray Beach-based commercial building constructor.
PAQ IncEmployee Stock Ownership PlanPAQ Inc ESOP acquired PAQ Inc, a Stockton-based supermarket operator.
Palmer Holland IncEmployee Stock Ownership PlanPalmer Holland Inc ESOP acquired Palmer Holland Inc, a North Olmsted-based chemical and allied products merchant wholesaler.
Pride & Svc Elevator Co IncEmployee Stock Ownership PlanPride & Service Elevator Co Inc ESOP acquired Pride & Service Elevator Co Inc, a New York-based provider of personal and household goods repair and maintenance services.
Insite Software Solutions IncEpiserver IncEpiserver Inc, a unit of Insight Venture Partners LLC, definitively agreed to acquire Insite Software Solutions Inc, a Minneapolis-based software publisher.
Shape Security IncF5 Networks IncFLASH - F5 Networks Inc planned to acquire an undisclosed majority interest in Shape Security Inc, a Santa Clara-based software publisher. The terms of the transaction were not disclosed, but according to sources close to the transaction, the deal had a reported value of $1 bil.
Superior Energy-US businessForbes Energy Services LtdForbes Energy Services Ltd definitively agreed to merge with the US business of Superior Energy Services Inc, a Houston-based provider of support services for oil and gas operations.
Truck-Lite Co LLCGenstar Capital LLCGenstar Capital LLC acquired an undisclosed majority interest in Truck- Lite Co LLC, a Falconer-based manufacturer of lighting, wiring harnesses, turn signal switches and safety accessories, from BDT Capital Partners LLC, a unit of BDT & Co LLC and Koch Equity Development LLC, a unit of Koch Industries Inc, in a leveraged buyout transaction.
Empire-fuel distribution assetGPM Investments LLCGPM Investments LLC, a unit of Petro Group Ltd, definitively agreed to acquire fuel distribution and retailing assets of Empire Petroleum Partners LLC, a Dallas-based operator of gasoline stations with convenience stores.
Kerr-Boswell IncHilb Group LLCHilb Group LLC, a unit of ABRY Partners LLC, acquired Kerr-Boswell Inc, a Bristol-based insurance agency.
Rebellion Photonics IncHoneywell International IncHoneywell International Inc acquired Rebellion Photonics Inc, a Houston-based manufacturer of analytical laboratory instruments.
Enclara Health IncHumana IncHumana Inc planned to acquire Enclara Health Inc, a West Deptford-based provider of ambulatory health care services, from Consonance Capital Partners LP, ultimately owned by Consonance Capital. Terms of the transaction were not disclosed
Mitsubishi Elec Power-FactoryHyosung Heavy Industries CorpHyosung Heavy Industries Corp of South Korea planned to acquire transformer factory of Mitsubishi Electric Power Products Inc, a Warrendale-based manufacturer of commercial and service industry machinery, ultimately owned by Mitsubishi Electric Corp.
Tellimer Markets Inc-BokerageINTL FCStone IncINTL FCStone Inc planned to acquire bokerage business of Tellimer Markets Inc, a New York City-based provider of marketing consulting services.
Contanda Terminals LLCJPMorgan Asset Management IncJPMorgan Asset Management Inc, a unit of JPMorgan Chase & Co, acquired Contanda Terminals LLC, a Houston-based petroleum bulk merchant wholesaler, from EQT Infrastructure II GP BV, owned by EQT Infrastructure BV.
Maple & MainJVM Realty CorpJVM Realty Corp acquired Maple & Main Apartments, a Downers Grove-based lessor of residential buildings and dwellings.
Hct Grp Hldg LtdKnowlton Development Corp IncKnowlton Development Corp Inc of Canada, a unit of Novacap LP, planned to acquire Hct Group Holdings Ltd, a Santa Monica-based provider of packaging and labeling services.
IQ Systems IncLogically IncLogically Inc, a unit of The Riverside Co, acquired IQ Systems Inc, a Reno-based provider of outsourced information technology services. Terms of the transaction were not disclosed.
Tenet Healthcare Corp-HospitalMethodist Le BonheurMethodist Le BonheurHealthcare planned to acquire hospitals,memphis of Tenet Healthcare Corp, a Dallas-based hospital operator.
Vertical Commun IncNti Connect LlcNti Connect LLC acquired Vertical Communications Inc, a Dallas-based structural steel and precast concrete contractor.
ZippinNTT DOCOMO Ventures IncNTT DOCOMO Ventures Inc of Japan, a unit of NTT DOCOMO Inc, acquired Zippin, a San Francisco-based merchandise store operator.
EyeCare Partners LLCPartners Group AGPartners Group AG of Switzerland, a unit of Partners Group Holding AG, definitively agreed to acquire an undisclosed majority interest in EyeCare Partners LLC (EyeCare Partners), a Ballwin-based provider of eyecare services, from Friedman Fleischer & Lowe LLC (FFL), in a leveraged buyout transaction. Terms of the transaction were not disclosed. Originally, in October 2019, FFL was rumored to be seeking a buyer for EyeCare Partners.
Vidswap LllcPixellotPixellot of Israel acquired VidSwap LLLC, an Eden Prairie-based provider of custom computer programming services.
Bader CoPpty First Grp LPProperty First Group LP acquired Bader Co, an Indianapolis-based insurance agency, from StorSmart Insurance Co, owned by Storable.
Prairie Resources LLCSensoryEffects Flavor CoSensoryEffects Flavor Co (SensoryEffects) planned to acquire Prairie Resources LLC, manufacturer of foods. Concurrently, SensoryEffects acquired Zumbro River Brand Inc.
Safe-Guard Products Intl LLCStone Point Capital LLCFLASH - Stone Point Capital LLC was rumored to be planning to acquire an undisclosed majority interest in Safe-Guard Products International LLC, an Atlanta-based direct insurance carrier, from GS Capital Partners LP, owned by Goldman Sachs & Co. The terms of the transaction were not disclosed, but according to sources close to the transaction, the deal had a reported value of $1 bil.
Sigstr IncTerminus Software LlcTerminus Software LLC acquired Sigstr Inc, an Indianapolis-based internet portal operator.
Accelerated Svc Entrp LlcTiptree IncTiptree Inc planned to acquire Accelerated Service Enterprise LLC, a Richardson-based new car dealer.
Marcotte Insurance Agency IncUSI Insurance Services LLCUSI Insurance Services LLC, jointly owned by KKR & Co LP and Caisse De Depot Et Placement Du Quebec, acquired Marcotte Insurance Agency Inc, an Omaha-based insurance agency.
CredentialmydocVeritystreamVerityStream, a unit of HealthStream Inc, acquired CredentialMyDoc, a Savannah-based software publisher, from Covenant Technology Group LLC. The deal had a reported value of $9 mil.
WealthFlexYieldstreet IncYieldstreet Inc acquired WealthFlex, a Bellevue-based provider of custom computer programming services.
Miror Partners Llc- Cert AstsZRG Partners LLCZRG Partners LLC planned to acquire certain assets of Miror Partners LLC, an Irvine-based provider of executive search services.
US M&A Deals Announced December 13 to 19, 2019