It has been a big week for Wall Street dealmakers, with a flurry of high-profile mergers and acquisitions announced in the past 24 hours.
Here’s what you need to know:
- Hewlett-Packard Enterprise announced a deal to sell its software business in an $8.8 billion transaction. The company is creating a company with UK tech company Micro Focus for the unit in a transaction worth $8.8 billion including 50.1% ownership of the new combined company by HPE shareholders and a $2.5 billion cash payment to HPE. JPMorgan and UK stockbroker Numis advised Micro Focus on the deal. The bankers at JPMorgan involved in the deal were: Bill Hutchings, Ben Berinstein, Jay Hofmann, Sanjay Jain, Dwayne Lysaght and Chris Wood. At Numis, it was Alex Ham, Simon Willis and Tom Ballard.
- Private equity company TPG and Intel are jointly spinning out Intel Security in a deal that values the business at $4.2 billion. Intel will get $3.1 billion in cash and a 49% stake in the business, which will be named McAfee. TPG will own a 51% stake.
- Liberty Media agreed a deal to acquire motorsports business Formula One from a consortium of sellers led by private equity company CVC. The deal values Formula One at $8 billion. Morgan Stanley is advising Liberty media, while Goldman Sachs advised the selling group.
That follows a string of deals earlier in the week:
- Canadian pipeline company Enbridge agreed a deal to Houston-based Spectra Energy, creating the largest energy infrastructure company in North America. The deal, valued at $43.1 billion, is the third biggest announced mergers-and-acquisitions transaction this year, according to Dealogic. Credit Suisse and RBC Capital Markets advised Enbridge on the deal, while BMO Capital Markets and Citi advised Spectra.
- Electronic and environmental testing company Danaher struck a deal to acquire molecular diagnostics company Cepheid for around $4 billion.
- General Electric agreed to buy two of the world’s top 3D-printing companies for a total of $1.4 billion. GE bought German-based SLM Solutions, which makes laser machines for metal-based 3D printing for aerospace and automotive companies, and Swedish company Arcam, which specialises in metal-based 3D printing.
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