Every year has its share of mergers and acquisitions and 2019 was no different. Several prominent companies announced their decision to team up with peers in mutually beneficial deals. Let’s take a look at five of the top deals announced this year:
LVMH – Tiffany
In late November, Tiffany & Co. (NYSE: TIF) announced that LVMH Moet Hennessy Louis Vuitton SE (LVMH) agreed to acquire the luxury jeweler for approx. $16.2 billion. The transaction is expected to close in the middle of 2020.
Google – Fitbit
In early November, Alphabet’s (NYSE: GOOGL) subsidiary Google agreed to acquire Fitbit Inc. (NYSE: FIT) for $2.1 billion. The transaction is expected to close in 2020. The deal could reportedly face probes from the Federal Trade Commission and the Department of Justice due to privacy concerns.
AbbVie – Allergan
In June, AbbVie (NYSE: ABBV) agreed to acquire Allergan for approx. $63 billion in a cash and stock transaction that is expected to close in early 2020. The deal is expected to be 10% accretive to adjusted EPS over the first full year post-closing, with peak accretion of greater than 20%.
Raytheon – United Technologies
In June, Raytheon Company (NYSE: RTN) and United Technologies Corp. (NYSE: UTX) announced their merger agreement which received shareholder approval in October and is expected to close in the first half of 2020. Upon completion, United Technologies shareholders will own approx. 57% and Raytheon shareholders will own approx. 43% of the combined company.
Bristol Meyers – Celgene
In January, Bristol-Meyers Squibb Company (NYSE: BMY) announced its decision to acquire Celgene Corporation for $74 billion. The acquisition was completed in November and Celgene is now a wholly-owned subsidiary of Bristol-Meyers.
Most Popular
BIIB Earnings: Biogen Q1 2024 adj. earnings rise despite lower revenues
Biotechnology firm Biogen Inc. (NASDAQ: BIIB) Wednesday reported an increase in adjusted profit for the first quarter of 2024, despite a decline in revenues. Total revenue declined 7% year-over-year to
Hasbro (HAS) Q1 2024 Earnings: Key financials and quarterly highlights
Hasbro, Inc. (NASDAQ: HAS) reported first quarter 2024 earnings results today. Revenues decreased 24% year-over-year to $757.3 million. Net earnings attributable to Hasbro, Inc. were $58.2 million, or $0.42 per
BA Earnings: Highlights of Boeing’s Q1 2024 financial results
The Boeing Company (NYSE: BA) on Wednesday announced financial results for the first quarter of 2024, reporting a narrower net loss, on an adjusted basis. Revenues dropped 8%. Core loss,
Comments
Comments are closed.