Brady Corp. is in exclusive negotiations to acquire Gravotech Holding for approximately $133 million, aiming to enhance its product identification offering with specialized engraving capabilities, expecting to close the deal by the end of fiscal year 2024, with no significant impact on earnings per share anticipated.
Novartis acquires IFM Due, a developer of STING antagonists for inflammatory diseases, for $90M upfront and up to $745M in milestone payments, with an option agreement initiated in 2019.
Scholastic (NASDAQ: SCHL) is set to acquire 100% economic interest in 9 Story Media Group for approximately USD $186 million, aiming to leverage 9 Story's industry-leading production and distribution capabilities to expand its reach across print, screens, and merchandising, solidifying a long-standing collaboration and anticipating substantial improvements in growth and bottom-line results.
Osaic, a leading wealth management provider, expands its portfolio by integrating Latitude Wealth Advisors, a firm based in Hauppauge, New York, with $210 million in client assets, emphasizing personalized service, comprehensive planning, and community involvement, marking a strategic move facilitated by Affiliated Advisors, contributing to Osaic's growth and capacity, totaling over $4 billion in client assets.
Equitrans Midstream (ETRN) surges 8.5% pre-market as EQT Corp. (EQT) announces all-stock acquisition, forming America's first large-scale integrated natural gas producer with $35B+ enterprise value; each ETRN share exchanged for 0.3504 EQT shares, contingent on FERC approval for Mountain Valley Pipeline, with EQT shareholders owning ~74% and ETRN shareholders ~26% of the combined company.
Starwood Capital Entities and Jaws Mustang Acquisition Corp announce a non-binding letter of intent for a potential business combination, aiming to list the combined public company on a national securities exchange, involving the ownership of interests in the Initial Portfolio including 1 Hotels properties in Manhattan and Brooklyn, and the De Vere Portfolio in the United Kingdom, under the leadership of Barry Sternlicht, with plans for further expansion and subject to definitive agreement and regulatory approvals.
The Ministry of Corporate Affairs raised merger approval threshold by 150%, exempting acquisitions below Rs 450 crore in assets or Rs 1,250 crore in turnover from Competition Commission of India (CCI) approval for two years; assets and turnover calculation for combinations are contingent on the value of the segment, division, or business involved.
BlackRock (NYSE: BLK) is set to acquire the remaining equity in SpiderRock Advisors, strengthening its presence in the rapidly growing U.S. wealth market, particularly in separately managed accounts (SMAs), which are expected to reach $4 trillion in assets by 2026.
Tripadvisor's stock surged 3.4% as Apollo Global Management expressed interest amid reports of potential acquisition, following Tripadvisor's formation of a special committee to evaluate proposals, with private equity seen as the likely buyer.
Accenture (NYSE: ACN) announced its acquisition of Udacity, integrating its team into Accenture LearnVantage to enhance technology learning services for clients, with ACN's stock down by -1.95% to $376.22.
