Weekly wrap: Gilead, Verizon, Steve Cohen, NY Mets

Register now


Target Acquirer Value ($millions) Synopsis
Immunomedics Inc Gilead Sciences Inc 20,774.5 Gilead Sciences Inc (Gilead) definitively agreed to acquire the entire share capital of Immunomedics Inc (Immunomedics), a Morris Plains-based biopharmaceutical company, for $88 in cash per share, or a total $20.775 bil, via a tender offer. The offer was conditioned upon at least a majority of Imunomedics' shares being tendered. Originally, Gilead was rumored to be planning to acquire Immunomedics.
TracFone Wireless Inc Verizon Communications Inc 6,900.0 Verizon Communications Inc (Verizon) agreed to acquire the entire share capital of TracFone Wireless Inc, a Miami-based provider of wireless telecommunications services, from America Movil SAB de CV, for an estimated total value of $6.9 billion. The consideration was to consist of an estimated $3.125 billion in cash, $3.125 billion in Verizon's common shares and up to $650 million in profit- related payments.
Kraft Heinz Co-Cert Cheese Groupe Lactalis SA 3,200.0 Groupe Lactalis SA of France, a unit of BSA International SA, definitively agreed to acquire certain cheese businesses of Kraft Heinz Co, a Pittsburgh-based manufacturer of prepared sauces, for $3.2 bil.
Versant Health Holdco Inc MetLife Inc 1,675.0 MetLife Inc definitively agreed to acquire the entire share capital of Versant Health Holdco Inc (Versant), a Linthicum-based optometrist's office operator, from Centerbridge Partners LP (Centerbridge) and FFL Partners LLC, for a total value of $1.675 billion in cash. Originally, in December 2019, Centerbridge was rumored to be seeking a buyer for Versant.
Walden e-Learning LLC Adtalem Global Education Inc 1,480.0 Adtalem Global Education Inc definitively agreed to acquire the entire share capital of Walden e-Learning LLC, a Baltimore-based provider of graduate degrees in management and social and behavioral sciences, from Laureate Education Inc, for an estimated value of $1. 48 billion in cash. The transaction was to include Walden University LLC.
Opendoor Labs Inc Soc Cap Hedosophia Hldg II 1,000.0 Social Capital Hedosophia Holdings Corp II (SCH) definitively agreed to merge with Opendoor Labs Inc (OLI), a San Francisco-based software publisher, for a total value of $1 billion in cash, in a stock swap reverse takeover transaction. Originally, in September 2020, SCH was rumored to be planning to merge with OLI. Upon completion, SCH and OLI shareholders were to own a 20. 7% stake and a 79.3% interest, respectively, in the merged entity and was to be named as Opendoor Technologies Inc.
Dow Inc-Terminal Portfolio(3) Vopak Industrial Inf Americas 620.0 Vopak Industrial Infrastructure Americas LLC, jointly owned by Koninklijke Vopak NV and Global Energy & Power Infrastructure Fund, definitively agreed to acquire 3 terminal portfolio of Dow Inc, a Midland-based manufacturer of plastics materials, for $620 mil.
Cnet Networks Inc Red Ventures LLC 500.0 Red Ventures LLC (Red) definitively agreed to acquire CNET Networks Inc (CNET), a San Francisco-based internet portal operator, from ViacomCBS Inc, ultimately owned by National Amusements Inc, for $500 million. Originally, in August 2020, Red was rumored to be planning to acquire CNET.
GAINSCO Inc State Farm Mutual Auto Ins Co 400.0 State Farm Mutual Automobile Insurance Co, a unit of State Farm Insurance Cos, agreed to merge with GAINSCO Inc, a Dallas-based property and casualty insurance holding company, for an estimated $400 mil.
Portworx Inc Pure Storage Inc 370.0 Pure Storage Inc definitively agreed to merge with Portworx Inc, a Los Altos-based cloud native storage and data management company, for an estimated $370 million in cash.
Eyevance Pharms Hldg Inc Santen Holdings US Inc 225.0 Santen Holdings US Inc, a unit of Santen Pharmaceutical Co Ltd, acquired the entire share capital of Eyevance Pharmaceuticals Holdings Inc, a Fort Worth-based optometrist's office operator, from Eyevance Holdings LLC, for a total $225 million in cash.
RR Donnelley & Sons-Business TFI International Inc 225.0 TFI International Inc of Canada definitively agreed to acquire DLS Worldwide Logistics Business of RR Donnelley & Sons Co, a Chicago-based provider of commercial lithographic printing services, for a total $225 million in cash.
Franco Signor LLC Verisk Analytics Inc 160.0 Verisk Analytics Inc acquired Franco Signor LLC, a Bradenton-based software publisher, from BV Investment Partners LP, for a total $160 mil.
Boston Capital Corp-LIHTC Boston Finl Invest Mgmt LP 150.0 Boston Financial Investment Management LP, a unit of ORIX Corp USA, planned to acquire low income housing tax credit fund portfolio of Boston Capital Corp, a Boston-based lessor of real estate property, for an estimated $150 mil.
PurePenn LLC Trulieve Cannabis Corp 106.0 Trulieve Cannabis Corp of Canada definitively agreed to acquire PurePenn LLC, a McKeesport-based manufacturer of medicinals and botanicals, for an estimated $106 million. The consideration was to consists of $19 million in cash, $27 million in subordinated voting stock and up to $60 million in profit- related payments.
Prologis Inc-Office Bldg(3) Ensemble Services LLC 83.0 Ensemble Services LLC acquired a 3 office building portfolio of Prologis Inc, a Philadelphia-based lessor of nonresidential buildings, for a total $83 mil.
LSC Communications Inc Investor Group 63.4 An investor group, comprised of Atlas Holdings LLC and Creditors definitively agreed to acquire the entire share capital of the bankrupt LSC Communications Inc, a Chicago-based provider of commercial gravure printing services, for a total $63.437 mil, in a leveraged buyout transaction. The consideration was to consist of $63.437 million in credit bid of obligations, an undisclosed amount in cash, and the assumption of an undisclosed amount in liabilities. Originally, in April 2020, LSC announced that it was seeking a buyer for the company.
Industrial,St. Louis,MO Plymouth Industrial REIT Inc 51.2 Plymouth Industrial REIT Inc acquired Undisclosed Industrial Building, a St. Louis-based lessor of nonresidential buildings, for a total $51.2 mil.
Torotel Inc TT Electronics PLC 43.4 TT Electronics PLC of the UK agreed to acquire the entire share capital of Torotel Inc, an Olathe-based manufacturer of electronic coils, transformers and other inductors, for a total $43. 4 mil.
Industrial Distribution Ppty KKR & Co Inc 43.0 KKR & Co Inc acquired Undisclosed Industrial Distribution Property, a Phoenix-based lessor of nonresidential buildings, for a total $43 mil, in a leveraged buyout transaction.
Delta Rr Constr Inc Salcef USA Inc 36.1 Salcef USA Inc, a unit of Salcef Group SpA, acquired Delta Railroad Construction Inc, an Ashtabula-based railway services provider, for $36.14 mil.
Keystone Relief Centers LLC Trulieve Cannabis Corp 35.0 Trulieve Cannabis Corp of Canada definitively agreed to acquire Keystone Relief Centers LLC, a Pittsburgh-based drugs merchant wholesaler, for a total $35 million. The consideration was to consists of $10 million in cash, $10 million in subordinated voting stock and up to $15 million in profit- related payments.
ClearStar Inc Hanover Invs Mgmt LLP 18.7 Hanover Investors Management LLP of the UK agreed to acquire the entire share capital of ClearStar Inc, an Alpharetta-based software publisher, for $0. 515 per share, or a total $18.696 mil, in a leveraged buyout transaction.
Industrial Distribution Ppty Elion Partners LLC 16.3 Elion Partners LLC acquired Undisclosed Industrial Distribution Property, an El Cajon-based lessor of nonresidential buildings, for a total $16. 3 mil.
First Sensor Inc TE Connectivity MOG Inc 13.4 TE Connectivity MOG Inc, a unit of TE Connectivity Ltd (TE), agreed to acquire First Sensor Inc, a Westlake Village-based manufacturer of optical sensor products, from First Sensor AG, owned by TE Connectivity Sensors Germany Holding AG, in an internal reorganization. Concurrently, MEAS Europe SAS, a unit of TE, agreed to acquire First Sensor France SAS, in an internal reorganization. The two transactions were to have a combined value of $13. 428 mil.
Heavy Iron Studios Inc Keywords Studios PLC 13.3 Keywords Studios PLC of Republic of Ireland agreed to acquire the entire share capital of Heavy Iron Studios Inc, a Manhattan Beach-based provider of custom computer programming services, for an estimated $13.3 mil.
S Dakota Partners Inc Brattle Street Investment Corp 1.7 Brattle Street Investment Corp agreed to acquire the entire share capital of South Dakota Partners Inc, a Clear Lake-based manufacturer of printed circuit assemblies, for a total $1.744 mil, in a stock swap transaction.
Adantagecom Networks Inc Investor Group An investor group, comprised of ComfortHost and Cloud Equity Group LLC acquired Adantagecom Networks Inc, a College Place-based internet portal operator. The financial terms of the transaction were not disclosed.
AgriMetis LLC-Glu-L Assets BASF SE BASF SE of Germany acquired Glu-L assets of AgriMetis LLC, a Lutherville-based manufacturer of nitrogenous fertilizers.
American Residential Services Investor Group A management-led investor group, comprised of Charlesbank Capital Partners LLC and GI Partners LLP planned to acquire an undisclosed majority interest in American Residential Services LLC, a Memphis-based plumbing, heating and air- conditioning contractor, from Charlesbank Capital Partners LLC, in a leveraged buyout transaction. The financial terms of the transaction were not disclosed.
Anelixis Therapeutics Inc Novus Therapeutics Inc Novus Therapeutics Inc acquired the entire share capital of Anelixis Therapeutics Inc, a Cambridge-based manufacturer of biological products, in a stock swap transaction.
Apartment Income REIT Shareholders Apartment Investment & Management Co planned to spin off Apartment Income REIT, a Denver-based lessor of real estate property, to its shareholders.
APC Auto Tech-AP Emissions Bus APACE Holding Co LLC APACE Holding Co LLC acquired AP emissions business of APC Automotive Technologies LLC, a Littleton-based manufacturer of automotive, light truck and heavy-duty replacement parts. Terms of the transaction were not disclosed.
Array Biostatistics Llc Cato Research Ltd Cato Research Ltd acquired Array Biostatistics LLC, a Wilmington-based provider of custom computer programming services.
Best Practice Professionals RLDatix RLDatix of Canada acquired Best Practice Professionals Inc, a Salt Lake City-based provider of online healthcare documents site.
Blackline Partners LLC Payroc LLC Payroc LLC, a unit of Parthenon Capital Partners LLC, acquired Blackline Partners LLC, a Hoffman Estates-based provider of financial transactions services. The financial terms of the transaction were not disclosed.
Brick Wall Fire Sprinkler LLC Rapid Fire Protection Grp Inc Rapid Fire Protection Group Inc, a unit of Boyne Capital Partners LLC, acquired Brick Wall Fire Sprinkler LLC, a Colorado Springs-based provider of fire prevention systems and solutions.
Brookstone Ins Grp-Assets Brown & Brown Inc Brown & Brown Inc acquired assets of Brookstone Insurance Group LLC, an Addison-based insurance agency.
Canopy Biosciences LLC Bruker Corp Bruker Corp acquired Canopy Biosciences LLC, a St. Louis-based manufacturer of biological products. Terms were not disclosed.
Carrington Hospice Care Inc Jet Health Inc Jet Health Inc acquired Carrington Hospice Care Inc, an Arlington-based provider of home health care services. The financial terms of the transaction were not disclosed.
ChargePoint Inc Switchback Energy Acq Corp Switchback Energy Acquisition Corp was rumored to be planning to merge with ChargePoint Inc, a Campbell-based manufacturer of power, distribution and specialty transformers. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $2 bil.
Colony Bkcorp-Thomaston,GA Br SouthCrest Finl Grp Inc SouthCrest Financial Group Inc agreed to acquire the Thomaston branch of Colony Bankcorp Inc, a Fitzgerald-based bank holding company.
ePreop Inc ProVation Medical Inc ProVation Medical Inc, a unit of Clearlake Capital Group LP, acquired ePreop Inc, a Seal Beach-based reproducer of software.
Frank E Neal & Co Inc Brown & Brown Of Tennessee Inc Brown & Brown Of Tennessee Inc, a unit of Brown & Brown Inc, acquired Frank E Neal & Co Inc, a Nashville-based insurance agency.
Freshtex Produce LLC GrubMarket Inc GrubMarket Inc acquired Freshtex Produce LLC, an Alamo-based fresh fruits and vegetables merchant wholesaler.
Grail Inc Illumina Inc Illumina Inc was rumored to be planning to acquire Grail Inc, a Menlo Park-based provider of biotechnology research and development services. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $6 bil.
Hanlon Advisory Software LLC Lincoln Investment Sftwr Grp Lincoln Investment Software Group LLC, a unit of Lincoln Investment Capital Holdings LLC, acquired Hanlon Advisory Software LLC, an Egg Harbor Township-based software publisher, from Hanlon Investment Management Inc. The financial terms of the transaction were not disclosed.
Hilo Nutrition Inc Highlander Partners LP Highlander Partners LP acquired Hilo Nutrition Inc, a Columbus-based fitness and recreational sports center operator, in a leveraged buyout transaction. The financial terms of the transaction were not disclosed.
i3 Broadband LLC Wren House Infra Mgmt Ltd Wren House Infrastructure Management Ltd of the UK, a unit of the Kuwaiti state-owned Kuwait Investment Authority, agreed to acquire i3 Broadband LLC, an East Peoria-based wired telecommunications carrier, from CountryWide Broadband LLC and Seaport Capital LLC.
Insurance Technologies LLC Thomas H Lee Partners LP Thomas H Lee Partners LP, a unit of Thomas H Lee Co, planned to acquire Insurance Technologies LLC, a New York City-based software publisher, from NexPhase Capital LLC, in a leveraged buyout transaction. Terms of the transaction were not disclosed.
Intl Bond & Marine Brkg Ltd OneBeacon Insurance Group Ltd OneBeacon Insurance Group Ltd, a unit of Intact Financial Corp, acquired International Bond & Marine Brokerage Ltd, a Hoboken-based insurance agency.
J&H Inc Kelley Connect Kelley Connect acquired J&H Inc, a Bozeman-based business technology company.
Kent Lubrication Ctrs-Lube Valvoline Inc Valvoline Inc definitively agreed to acquire 14 quick lube stations of Kent Lubrication Centers Ltd, a Midland-based automotive lubrication shop operator. Terms of the transaction were not disclosed.
Ncutt Dental-Hoover & Helena StoneCreek Dental Care StoneCreek Dental Care acquired Hoover & Helena branches of Northcutt Dental, a Fairhope-based dentist's office operator.
New York Mets Steven Cohen Steven Cohen agreed to acquire New York Mets, a Queens-based owner and operator of professional baseball team, from Sterling Partners GP LLC, owned by Sterling Capital Management LLC. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $2.45 billion. Originally, in February 2020, Sterling Partners GP LLC, announced that it was seeking a buyer for an 80% interest in its New York Mets. Josh Harris, David Blitzer, Alexander Emmanuel Rodriguez, Jennifer Lynn Lopez and Steven Cohen were rumored as potential bidders.
PC Synergy Inc Visible Supply Chain Mgmt Llc Visible Supply Chain Management LLC acquired PC Synergy Inc, a San Marcos-based developer of retail shipping software.
PlaceMe Inc Splitspot Inc Splitspot Inc acquired PlaceMe Inc, a Cambridge-based lessor of residential buildings and dwellings. Terms of the deal were not disclosed.
Protect Pharmaceutical Corp Novgorod Group Novgorod Group of Russia agreed to acquire the entire share capital of Protect Pharmaceutical Corp, a Las Vegas-based manufacturer of biological products.
Quantitative Brokers LLC Deutsche Boerse AG Deutsche Boerse AG of Germany planned to acquire an undisclosed majority interest in Quantitative Brokers LLC, a New York City-based financial technology company. Specific terms of the transaction were not disclosed.
Sectigo Ltd GI Partners LLP GI Partners LLP definitively agreed to acquire Sectigo Ltd, a Roseland-based provider of data processing and hosting services, from Francisco Partners Management LP, in a leveraged buyout transaction. The financial terms of the transaction were not disclosed.
SkyVerge GoDaddy Inc GoDaddy Inc definitively agreed to acquire SkyVerge, a Boston-based WooCommerce product developer. Financial details of the transaction were not disclosed.
Striata Inc Doxim Inc Doxim Inc of Canada, a unit of GI Partners LLP, acquired Striata Inc, a New York-based reproducer of software. The financial terms of the transaction were not disclosed.
Syn-Apps LLC Intrado Corp Intrado Corp, a unit of West Corp, acquired Syn-Apps LLC, a Portland-based provider of custom computer programming services. The financial terms of the transaction were not disclosed.
Tampa Healthcare Facility CVMC REIT II Inc Carter Validus Mission Critical REIT II Inc acquired Tampa Healthcare Facility, a Tampa-based owner and operator of healthcare facility.
The Bensman Group Associated Agencies Inc Associated Agencies Inc acquired The Bensman Group, a Bannockburn-based insurance agency. The transaction was to include Bensman Risk Management Inc and Bensman Associates Ltd.
The Hotel at Avalon Crescent Real Estate LLC Crescent Real Estate LLC acquired The Hotel at Avalon, an Alpharetta-based owner and operator hotel.
The Kirksey Agency Inc Arthur J Gallagher & Co Arthur J Gallagher & Co acquired The Kirksey Agency Inc, a West Monroe-based direct property and casualty insurance carrier. The financial terms of the deal were not disclosed.
Ultimate Medical Services Inc UMS Holdings LLC UMS Holdings LLC, a unit of Wolfgang Capital LLP, acquired Ultimate Medical Services Inc, a Los Angeles-based owner and operator of diagnostic imaging center.
Umpqua Bank-Branches(4) Spokane Teachers Credit Union Spokane Teachers Credit Union agreed to acquire 4 branches of Umpqua Bank, Roseburg,Oregon, a Roseburg-based commercial bank, ultimately owned by Umpqua Holdings Corp. Terms were not disclosed.
Univa UD Inc Altair Engineering Inc Altair Engineering Inc acquired Univa UD Inc, a Hoffman Estates-based developer of open source software.
Wabtec-Shipper TMS Bus Accel-KKR LLC Accel-KKR LLC, jointly owned by Kohlberg Kravis Roberts & Co LP and Accel Partners & Co Inc, acquired the Shipper TMS business of Westinghouse Air Brake Technologies Corp, a Pittsburgh-based manufacturer of railroad rolling stock, in a leveraged buyout transaction.
Webpagetest LLC Catchpoint Systems Inc Catchpoint Systems Inc agreed to acquire Webpagetest LLC, a South Riding-based software publisher. The financial terms of the transaction were not disclosed.
XCM Solutions Wolsters Kluwer TAA NA Wolsters Kluwer TAA NA acquired XCM Solutions, a Quincy-based provider of accounting services.
Zywave Inc Clearlake Capital Group LP Clearlake Capital Group LP, a unit of Reservoir Capital Group LLC, definitively agreed to acquire Zywave Inc (Zywave), a Milwaukee-based software publisher, from Aurora Capital Group, in a leveraged buyout transaction. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $900 million. The consideration is to include the insurance services of Zywave.
US M&A Deals Announced September 11 to 17, 2020