Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week
Americas
Altra Industrial has acquired Fortive units for $3 billion. The acquirer is an electromechanical power transmission and motion control products manufacturer and marketer. Altra will further expand its portfolio in the tech world with the acquired software content in motion control.
Cigna took over Express Scripts in a $54 billion deal, the latest in a string of healthcare acquisitions that have been taking place recently. Cigna is aiming to try and negotiate down the prescription medicines’ price.
Moving on to another acquisition that took place in the United States this week – a joint venture between GTCR and Sycamore Partners has acquired CommerceHub, an e-commerce software provider, for $1.1 billion.
Furthermore, Inovalon took over ABILITY Network in a $1.2 billion deal. The acquirer is a cloud-based platforms provider that will be able to provide a wider variety of services post the transaction as well as to enhance its value-based data-driven care.
United States Steel has received $1.5 billion financing. The company offers a wide range of steel manufacturing services.
Sands Casino Resort Bethlehem has been acquired by Wind Creek Hospitality for $1.3 billion. The casino is finally sold almost a year after the unsuccessful bid by MGM Resorts International. The seller is the largest casino operator in the world.
Asia-Pacific
The Government of Indonesia has undertaken a $3 billion multi-tranche sukuk issue. The first tranche included a $1.25 billion green sukuk issue. The 3.75% notes are due 2023. Proceeds from the green sukuk will be used to finance renewable energy projects.
Europe, Middle East and Africa (EMEA)
In a cross-border deal between France and Bermuda, AXA has acquired the XL Group for $15.3 billion. The aim is to create the world’s leader in casualty and property insurance. Due to new and tougher regulations, insurance companies are making their way through with new strengthening acquisitions.
Another insurance M&A deal took place this week but this time in a cross-border deal between Morocco and South Africa. Sanlam has undertaken a $1.05 billion takeover of Saham. The company will acquire the rest of the shares of the company giving access to 26 countries with 65 subsidiaries across the continent.