Weekly wrap: Charles Schwab, Silver Lake, StubHub

tdameritrade

US M&A Deals Announced November 22 to 28, 2019
Target Acquirer Value ($millions) Synopsis
TD Ameritrade Holding Corp Charles Schwab Corp 28304.7 Charles Schwab Corp (Charles Schwab) definitively agreed to merge with TD Ameritrade Holding Corp (TD Ameritrade), an Omaha-based provider of securities brokerage services and related technology-based financial services, from Toronto-Dominion Bank and other shareholders, in a stock swap transaction valued at $ 28.305 bil. Charles Schwab offered 1.084 common shares per TD Ameritrade common share. Based on Charles Schwab's closing stock price of $ 48.2 on 22 November 2019, the last full trading day prior to the announcement, each TD Ameritrade share was valued at $ 52.234. Originally, in November 2019, Charles Schwab was rumored to be planning to acquire the entire share capital of TD Ameritrade.
The Medicines Co Novartis AG 7384.3 Novartis AG of Switzerland definitively agreed to acquire the entire share capital of The Medicines Co, a Parsipanny-based manufacturer of pharmaceutical preparation, for $ 85 in cash per share, or a total value of $ 7.384 bil, via tender offer.
StubHub Inc viagogo AG 4050.0 viagogo AG of Switzerland definitively agreed to acquire StubHub Inc (StubHub), a San Francisco-based online ticket marketplace operator, from eBay Inc (eBay), for $ 4.05 bil in cash. Originally, in January 2019, eBay was rumored to be seeking a buyer for its StubHub unit. Walmart, Google, Vivid Seats LLC and KKR & Co were rumored to be potential bidders.
Fortitude Group Holdings LLC Investor Group 1800.0 An investor group, comprised of T&D Holdings Inc(51.6%) and Carlyle FRL LP(25%) agreed to acquire a 76.6% interest in Fortitude Group Holdings LLC, reinsurance carrier, from American International Group Inc, for an estimated $ 1.8 bil.
Kosmos Cement Co-Cement plant Eagle Materials Inc 665.0 Eagle Materials Inc definitively agreed to acquire cement plant of Kosmos Cement Co, a Louisville-based manufacturer of cement, jointly owned by Cemex SAB de CV and Buzzi Unicem SpA, for an estimated $ 665 million in cash.
SPX FLOW Inc-Power & Energy Bu Apollo Global Management Inc 475.0 Apollo Global Management Inc definitively agreed to acquire power & energy business (P&E) of SPX FLOW Inc (SPX), a Charlotte-based manufacturer of metal forming machine tools, for an estimated $ 475 million in cash, in a leveraged buyout transaction. Originally, in May 2019 SPX announced that it was seeking a buyer for P&E.
Curt Manufacturing LLC Lippert Components Inc 340.0 Lippert Components Inc, a unit of LCI Industries, definitively agreed to acquire Curt Manufacturing LLC, an Eau Claire-based manufacturer of industrial load moving machinery, from Audax Group LP, for an estimated $ 340 million in cash.
Transcontinental Inc-Paper & Hood Packaging Corp 180.0 Hood Packaging Corp of Canada definitively agreed to acquire the paper & woven polypropylene packaging operations of Transcontinental Inc, a Montreal-based newspaper publisher, for an estimated $ 180 mil.
Aporeto Inc Palo Alto Networks Inc 150.0 Palo Alto Networks Inc definitively agreed to acquire Aporeto Inc, a San Francisco-based software publisher, for a total $ 150 mil.
350 Rhode Island St Bldg PRP LLC 134.2 PRP LLC acquired 350 Rhode Island St Building, from Clarion Partners LLC, a New York-based lessor of real estate property, ultimately owned by Legg Mason Inc, for a total $ 134.2 mil.
Olam W Coast Inc-Real Estate Mesirow Financial Consulting 110.3 Mesirow Financial Consulting, a unit of Mesirow Financial Holdings Inc, definitively agreed to acquire onion & garlic real estate assets of Olam West Coast Inc, fresh fruits and vegetables merchant wholesaler, owned by Olam International Ltd, for a total $ 110.3 mil.
Salix Juanita Village,WA Rise Properties Trust 101.5 Rise Properties Trust of Canada acquired Salix Juanita Village, a Kirkland-based lessor of residential buildings and dwellings, from Guardian Life Insurance Co of America, for a total $ 101. 5 mil.
U Industrial Property,CA Rexford Industrial Realty Inc 56.1 Rexford Industrial Realty Inc acquired Undisclosed Industrial Properties, a Los Angeles-based lessor of nonresidential buildings, for a total $ 56.1 mil.
Cresco Labs Inc-Facilities(2) Innovative Industrial Ppty Inc 38.0 Innovative Industrial Properties Inc agreed to acquire 2 cultivation facilities of Cresco Labs Inc, a Chicago-based manufacturer of medicinals and botanicals, for an estimated $ 38 mil, in a sale and leaseback transaction.
Pharr High Performance Coats Group PLC 37.0 Coats Group PLC of the UK definitively agreed to acquire Pharr High Performance, a McAdenville-based yarn spinning mill operator, from Pharr Yarns LLC, for a total $ 37 mil.
Frankly Inc Torque Esports Corp 36.9 Torque Esports Corp (Torque) of Canada definitively agreed to merge with Frankly Inc (Frankly), a New York City-based developer of software, for a total $ 36.856 mil, in a stock swap transaction. Torque offered 1 common shares per Frankly share. Based on Torque's closing stock price of CAD 1. 61 (USD 1.212) on 22 November 2019, the last full trading day prior to the announcement. Concurrently, Torque Esports Corp definitively agreed to merge with Winview Inc.
Winview Inc Torque Esports Corp 35.0 Torque Esports Corp of Canada definitively agreed to merge with Winview Inc, a Redwood City-based provider of custom computer programming services, for a total $ 35 million. Concurrently, Torque Esports Corp definitively agreed to merge with Frankly Inc.
Kimpton Topaz Hotel Douglas Dvlp Corp. 33.1 Douglas Development Corp acquired Kimpton Topaz Hotel, a Washington DC-based hotel operator, from Pebblebrook Hotel Trust, for a total $ 33.1 mil.
Mckesson Patient Care Adapthealth Corp 30.0 Adapthealth Corp definitively agreed to acquire Mckesson Patient Care Solutions Inc, a Moorestown-based food supplement products retailer, from McKesson Corp, for a total $ 30 mil.
Wealth-X Inc Euromoney Institutional Inv 20.4 Euromoney Institutional Investor PLC of the UK definitively agreed to acquire Wealth-X Inc, a New York City-based provider of data processing and hosting services, for a total $ 20. 4 mil.
Northside Station Westward Capital Group 15.8 Westward Capital Group acquired Northside Station Retail Property, a Charlotte-based lessor of nonresidential buildings, for an estimated $ 15.8 mil.
Kase Farma Inc HTC Purenergy Inc 10.9 HTC Purenergy Inc of Canada agreed to acquire the entire share capital of Kase Farma Inc, a Ceres-based manufacturer of medicinals and botanicals, from Starling Brands Inc, for a total $ 10.9 mil.
Corvus Consulting Llc Bionovelus Inc 9.0 Bionovelus Inc acquired Corvus Consulting LLC, a Centreville-based provider of technical consulting services, for a total $ 9 mil.
Advansource-Assets Mitsubishi Chemical Chem 7.3 Mitsubishi ChemicalPerformance Polymers Inc, a unit of Mitsubishi Chemical Corp, definitively agreed to acquire assets of AdvanSource Biomaterials Corp, a Wilmington-based manufacturer of medical instruments, for a total $ 7.25 mil.
Mendo Distn & Transp Llc LLC Halo Labs Inc 4.8 Halo Labs Inc of Canada planned to merge with Mendo Distribution & Transportation LLC, an Ukiah-based manufacturer of medicinals and botanicals, for a total $ 4.75 mil.
Flexographic Packaging Co Advanced Barrier Extrusions Advanced Barrier Extrusions LLC, a unit of Graham Partners Inc, acquired Flexographic Packaging Co, a Waupun-based provider of packaging and labeling services.
Solar Bear Services LLC Air Pros LLC Air Pros LLC acquired Solar Bear Services LLC, a Miami Gardens-based plumbing, heating and air-conditioning contractor.
Asana Hospice & Palliative Amedisys Inc Amedisys Inc definitively agreed to acquire Asana Hospice & Palliative Care, a Fort Worth-based provider of home health care services.
MRK Industries Inc Armstrong World Industries Inc Armstrong World Industries Inc acquired MRK Industries Inc, a Libertyville-based manufacturer of sheet metal works. Financial terms of the transaction were not disclosed.
Nyhart Consulting LLC Ascensus LLC Ascensus LLC, a unit of Ascensus LLC SPV, has entered into an agreement to acquire Nyhart Consulting LLC, an Indianapolis-based provider of management consulting services, from Alliance Benefit Group. Financial terms were not disclosed.
Surety Solutions Insurance AssuredPartners Inc AssuredPartners Inc, a unit of Apax Partners LP, acquired Surety Solutions Insurance Services Inc, a Rancho Cordova-based insurance agency.
Central Maine & Quebec Canadian Pacific Railway Ltd Canadian Pacific Railway Ltd of Canada have entered into an agreement to acquire Central Maine and Quebec Railway, a Bangor-based railroad operator, from Fortress Transportation & Infrastructure Investors LLC.
Edgemakers Inc Coded Minds Coded Minds of United Arab Emirates acquired Edgemakers Inc, a San Francisco-based provider of computer training services.
First Savanna Savings Bank Collins Community Credit Union Collins Community Credit Union planned to acquire First Savanna Savings Bank, a Savanna-based commercial bank.
Hyatt Regency New Orleans ERG Enterprises LLC ERG Enterprises LLC acquired Hyatt Regency New Orleans, a New Orleans-based hotel operator.
Thrive Guadalupe Family Service Agency Family Service Agency Of Santa Barbara merged with Thrive Guadalupe, a Guadalupe-based provider of individual and family services.
Quasar Distributors LLC Foreside Financial Group LLC Foreside Financial Group LLC, a unit of Lovell Minnick Partners LLC, planned to acquire Quasar Distributors LLC, a Milwaukee-based provider of financial investment services, from US Bancorp,Minneapolis,Minnesota.
Altucell Inc Generex Biotechnology Corp Generex Biotechnology Corp of Canada acquired a 51% controlling interest in Altucell Inc, a Deerpark-based provider of biotechnology research and development services.
Service Express Inc Harvest Partners LP Harvest Partners LP acquired Service Express Inc, a Grand Rapids-based provider of computer and office machine repair and maintenance services, from Pamlico Capital LLC, in a leveraged buyout transaction.
Jagged Peak Inc ID Logistics SA ID Logistics SA of France acquired Jagged Peak Inc, a Tampa-based software publisher, from SP Jagged Peak LLC, ultimately owned by Singapore Post Ltd.
Utopia Pipeline Investor Group An investor group, comprised of Shinhan Investment Corp, a unit of Shinhan Financial Group Ltd, Samtan Co Ltd, EIP Investment Co Ltd, a unit of Energy Innovation Partners Inc and KDB Infrastructure Investments Asset Management Co Ltd, a unit of Korea Development Bank acquired a 50% interest in Utopia Pipeline, a Harrison-based provider of pipeline transportation services of crude oil, jointly owned by Riverstone Holdings LLC and Kinder Morgan Inc.
Richardson Group Inc Kartesia Advisor LLP Kartesia Advisor LLP of the UK acquired Richardson Group Inc, a Philadelphia-based provider of management consulting services, from ClearLight Partners LLC.
Airborne Technologies Inc Kellstrom Defense Aerospace Kellstrom Defense Aerospace Inc, a unit of Merex Inc, acquired Airborne Technologies Inc, a Camarillo-based manufacturer of aircraft parts and auxiliary equipment.
Spire Digital Inc Kin & Carta PLC Kin & Carta PLC of the UK acquired Spire Digital Inc, a Denver-based provider of computer related services.
Novaria Group Inc KKR & Co Inc KKR & Co Inc agreed to acquire Novaria Group Inc, a North Richland Hills-based manufacturer of aircraft engines and engine parts, in a leveraged buyout transaction.
U Industrial Distn Property KKR & Co Inc KKR & Co Inc acquired four unndisclosed Industrial Distribution Properties (4) located within Atlanta, Georgia, Inland Empire, California, and Orlando, Florida.
Milton Industries Inc Levine Leichtman Cap Ptnrs Inc Levine Leichtman Capital Partners Inc acquired Milton Industries Inc, a Chicago-based manufacturer of motor vehicle parts, from Crimson Investments Ltd.
AssuredPartners Inc Mack Mack & Waltz Ins Grp Inc Mack Mack & Waltz Insurance Group Inc acquired AssuredPartners Inc, a Lake Mary-based insurance agency, from Apax Partners LP, ultimately owned by Apax Partners LLP.
Jam Theatricals Nederlander Organization Inc Nederlander Organization Inc acquired Jam Theatricals, a Chicago-based theater company.
Power Partners Inc Pioneer Transformers Ltd Pioneer Transformers Ltd of Canada, a unit of Provident Pioneer Partners LP, acquired Power Partners Inc, an Athens-based manufacturer of power, distribution and specialty transformers, from OpenGate Capital LLC.
Boss Mnfng Co-Operations Protective Industrial Prod Inc Protective Industrial Products Inc planned to acquire gloves boots rainwear operations of Boss Manufacturing Co, a Kewanee-based manufacturer of gloves, ultimately owned by Boss Holdings Inc.
Built Strong Exteriors LLC Restoration Builders Inc Restoration Builders Inc acquired Built Strong Exteriors LLC, an Oakdale-based roofing contractor.
Empyrean Benefit Solutions Inc Securian Financial Group Inc Securian Financial Group Inc, a unit of Minnesota Mutual Cos Inc, definitively agreed to acquire Empyrean Benefit Solutions Inc, a Houston-based provider of human resources and executive search consulting services.
First Advantage Corp Silver Lake Management LLC Silver Lake Management LLC (Silver Lake) definitively agreed to acquire an undisclosed majority interest in First Advantage Corp (First Advantage), an Atlanta-based provider of background screening, identity and information services, from Symphony Technology Group LLC, in a leveraged buyout transaction. Terms were not disclosed. Originally, in November 2019, Silver Lake was rumored to be planning to acquire First Advantage.
Paragon - Pharmacy Business Soleo Health Hldg Inc Soleo Health Holdings Inc acquired the pharmacy business of Paragon Infusion Therapy, a Dayton-based outpatient care center operator.
MVB Bank-Banking Center(4),SC Summit Community Bank Inc Summit Community Bank Inc planned to acquire 4 wv eastern panhandle banking centers of MVB Bank Inc, a Fairmont-based commercial bank, ultimately owned by MVB Financial Corp.
National Tree Co Inc Sun Capital Partners Inc Sun Capital Partners Inc acquired National Tree Co Inc, a Cranford-based flower, nursery stock and florists supplies merchant wholesaler.
Polymer Solutions Grp-Division The Jordan Co LP The Jordan Co LP acquired polymer additives division of Polymer Solutions Group, an Acworth-based manufacturer of plastics materials, ultimately owned by Arsenal Capital Partners LP, in a leveraged buyout transaction.
Allegiant Partners Inc Tokyo Century Corp Tokyo Century Corp of Japan acquired Allegiant Partners Inc, a Bend-based provider of machinery and equipment rental and leasing services.
Envi Partners Inc TRC Cos Inc TRC Cos Inc, a unit of New Mountain Partners IV LP, acquired Environmental Partners Inc, an Issaquah-based provider of environmental consulting services. The terms of the agreement were not disclosed.
Tritec Seal LLC Trelleborg Sealing Solutions Trelleborg Sealing Solutions of Germany, a unit of Trelleborg AB, acquired Tritec Seal LLC, a Fenton-based manufacturer of packing devices.
J-Line Pump Co Wilo Usa LLC Wilo Usa LLC, a unit of WILO SE, acquired J-Line Pump Co, a Collierville-based industrial machinery and equipment merchant wholesaler.
ZNLabs LLC Zoetis Inc Zoetis Inc acquired ZNLabs LLC, a Louisville-based provider of veterinary services.

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