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Mergers & Acquisitions

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Asbury Automotive Group, Inc. (ABG) has agreed to acquire certain assets of Park Place Dealerships for $1 billion, excluding vehicle inventory. Park Place, a luxury dealer group, has a mix of large dealerships with revenue comprised of 38% Mercedes-Benz, 32% Lexus, 11% Jaguar/Land Rover, 7% Porsche,...

Continental Resources Inc.'s (CLR) founder and CEO Harold Hamm to step down from his current role, effective January 1, 2020. Hamm will step up to the role of Executive Chairman. William Berry has been appointed Chief Executive Officer and President Jack Stark will assume the additional role of Chief...

DuPont (DD) announced Wednesday it has signed an agreement to acquire Desalitech Ltd., a closed circuit reverse osmosis (CCRO) company. The transaction is expected to close in January 2020, subject to customary closing conditions and regulatory approvals. Financial terms of the agreement were not disclosed. DuPont...

Commerzbank AG (CRZBY.PK) said the acceptance deadline has now expired for the acquisition offer for comdirect. Comdirect shareholders had tendered a total of 457,343 shares, corresponding to a proportion of approximately 82.63 percent of all the shares. As the offer condition of a minimum acceptance...

Axel Springer AG (AXELF.PK) said KKR's voluntary public tender offer may be closed as all closing conditions are fulfilled. Based on the acceptance rate of the tender offer plus further market purchases, KKR has secured 44.28 percent of the share capital and the voting rights of Axel Springer SE. Axel...

Barrick Gold Corp. (GOLD, ABX.TO) announced Tuesday that it and its Senegalese joint venture partner have reached agreement to sell their aggregate 90 percent interest in the Massawa project in Senegal to Teranga Gold Corp. (TGZ.TO) for total consideration of up to $430 million. The consideration...

Amneal Pharmaceuticals, Inc. (AMRX) and AvKARE Inc. announced Tuesday they have entered into a definitive agreement under which Amneal will acquire a 65.1 percent majority interest in AvKARE and its related affiliate doing business as R&S Northeast for an implied enterprise value of $340 million. Following...

Just Eat plc (JE.L) announced its Board has unanimously recommended that shareholders accept the Takeaway.com offer, either through CREST or by completing and returning the Takeaway.com form of acceptance. The Board has recommended that shareholders reject the Prosus offer of 740 pence per share. The...

Exchange holding company Cboe Global Markets (CBOE) announced Tuesday that it has entered into a definitive agreement to acquire EuroCCP, a pan-European equities clearing house. The transaction, which Cboe plans to fund with cash on hand, would close in the first half of 2020, pending the receipt...

Biopharmaceutical company Merck (MRK), known as MSD outside the U.S. and Canada, agreed Monday to acquire, through a subsidiary, its peer ArQule, Inc. (ARQL) for $20 per share in cash for an approximate total equity value of $2.7 billion. The transaction is expected to close early in the first quarter...

The Board of Just Eat plc (JE.L) stated that it is currently reviewing the increased offer by Prosus N.V. The Board advised its shareholders to take no action with regards to the increased offer at the current time. Meanwhile, Takeaway.com requested Just Eat shareholders to ignore the Prosus proposal...

Pharma services company hVIVO plc announced Monday that it has reached an agreement on the terms of a recommended offer to be made by Open Orphan Plc for the entire share capital of hVIVO. Under the terms of the Offer, each hVIVO shareholder will be entitled to receive 2.47 new Open Orphan shares. The...

Prosus NV announced the terms of an increased cash offer for the entire issued and to be issued share capital of Just Eat (JE.L) by MIH Food Delivery Holdings, a wholly-owned indirect subsidiary of Prosus. Under the terms, Just Eat shareholders will be entitled to receive 740 pence in cash for each Just...

Senior plc (SNR.L), a manufacturer of high technology components and systems, Monday confirmed that it has been reviewing all strategic options for its Aerostructures business. This includes an early stage assessment of a potential divestment of the division. The company issued the statement in response...

French drug maker Sanofi (SNYNF, SNY) announced Monday that it has agreed to acquire Synthorx, Inc. (THOR), a clinical-stage biotechnology company, for $68 per share in cash. The deal represents an aggregate equity value of about $2.5 billion. The transaction was unanimously approved by both the Sanofi...

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