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M&A Analysis: FinTech

In a broader theme this month the M&A market was very hot across Financials, a number of deals in the space including: Morgan Stanley (MS) Announced a $13B Deal for E-Trade Intuit (INTU) Announced a $7.1B Deal for Credit Karma Worldine Announced an $8.6B Deal for...

M&A Analysis: Aerospace M&A

Hexcel (HXL) was one of the first large deals of 2020 as Woodward (WWD) announced an all-stock deal to acquire the company that valued it at $6.4B, a modest 4.5% premium to where it traded prior to the announcement. The deal was dubbed a merger of equals and creates a...

M&A Analysis: Cyber-Security M&A

Sophos was a notable deal in October with a $3.9B offer from Thomas Bravo, a notable private equity deal in the cyber-security space. In a statement the CEO stated “Sophos is actively driving the transition in next-generation cybersecurity solutions, leveraging...

M&A Analysis: Biotech Neuro M&A

Alder Bio (ALDR) on 9/16 with a $2B acquisition from Lundbeck that came at an 85% premium and included a CVR. Lundbeck highlighted the fact that eptinezumab could be the first intravenous CGRP drug to come to market. The takeover centers on a near-approval anti-CGRP...

M&A Analysis: Networking Equipment

Acacia Communications (ACIA) shares jumped 40% following a buyout from Cisco (CSCO) agreeing at $70/share in cash, a 46% premium.  Cisco management noted “"With the explosion of bandwidth in the multi-cloud era, optical interconnect technologies are becoming...

M&A Analysis: Biotech M&A – July 2019

The Pfizer (PFE) deal for Array (ARRY) was one of the most interesting deals as it came at a strong 60% premium and options activity in ARRY was well-positioned for the move.  Biotech M&A should remain a theme as a lot of the larger companies are struggling to...

M&A Analysis: Lodging Industry

Chesapeake Lodging (CHSP) on 5-6-19 saw news that Park Hotels (PH) was acquiring the Company for $2.7B in cash and stock, the offer at the time came in at an 11% premium.  This deal follows a bidding war for LaSalle Hotel (LHO) that was won by Pebblebrook (PEB) is a...

M&A Analysis: Oil & Gas Exploration

Anadarko Petro (APC) was a top deal in April 2019 as Chevron (CVX) offered $33B in a cash and stock deal valuing the company at $33B, a healthy near 30% premium to its closing price.  The offer worked out to near 7.35X EV/EBITDA and reports confirmed that Occidental...