M&A

September 1, 2021

Intuit + Mailchimp ❤️ 🙈

Some big M&A news today: Intuit is in talks to buy Mailchimp in a deal valuing the company at $10 billion.

You probably know Intuit as the TurboTax guys, but Intuit actually makes more money from services for small businesses (SMBs.) Mailchimp would be a big pickup for Intuit, adding a suite of digital marketing tools to Intuit’s finance-centric product suite. 🤖 💰

M&A chats have been dicey lately, but Mailchimp has been looking for a buyer for most of the year. The company reportedly made around $300 million in 2020, according to sources.

Intuit was in the news last year for another big line-item purchase when it bought Credit Karma for $7.1 billion. The company has capitalized on the digital transformation accelerated by the COVID-19 pandemic, thanks to tools like Quickbooks, Mint, and its online tax services.

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January 22, 2024

Just Another M&A Monday

Mondays have been full of mergers and acquisitions activity this year, and today was no different. So, let’s quickly recap some of the biggest deals. 📝

Sunoco is buying NuStar Energy in a deal valued at $7.3 billion, including debt. The equity portion of the deal comes up to $2.99 billion, with NuStar’s shareholders each receiving 0.40 shares of Sunoco for each share they held, representing a roughly 32% premium. The oil distribution giant is acquiring the fuels storage and pipeline operator to diversify its core business beyond motor fuel distribution. ⛽

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Samsung Slashes Profit Expectations

Shares of Samsung Electronics fell today after the consumer electronics giant warned about its fourth-quarter results. It now expects a 35% YoY decline in operating profit during the fourth quarter of 2023, coming in at 2.8 trillion South Korean won vs. 4.31 trillion a year ago. 🔻

Given it is the country’s largest company and the world’s largest maker of dynamic random-access memory chips, analysts closely watch it as a bellwether for the consumer electronics industry. 👀

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M&A

December 11, 2023

An M&A Mashup

It was another busy Monday of M&A and fundraising news, so let’s quickly recap. 👇

First up is Macy’s, which saw shares soar 20% on reports that the 165-year-old retailer is considering a buyout offer from Arkhouse Management and Brigade Capital Management. It’s unclear how the company’s board feels about the offer, but clearly, these firms have value in Macy’s real estate. Analysts speculate that the investor group may sell off real estate and spin off its e-commerce business to deliver short-term gains. However, that would come at the expense of the core retail business people know and love it for. 🏬

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M&A

April 25, 2022

For Musk, It’s “Funding Secured” On Twitter Buyout

An 11-day long fight between the world’s richest person and one of the most beloved social media platforms has come to a close: Elon Musk is buying Twitter. 

The deal’s terms haven’t changed — Musk will pay $44 billion, that’ll be $54.20/share — to acquire the site. Twitter originally didn’t take Musk’s deal seriously. In fact, the Board even imposed a “poison pill” to prevent Musk from acquiring more than 15% of the company.

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M&A

February 5, 2024

Another Day Of M&A

As usual, it was another busy Monday of mergers and acquisitions. Let’s recap the biggest deals. 📝

First, Danish pharmaceutical giant Novo Nordisk’s parent company is buying drug manufacturer Catelent for $16.5 billion to help boost the supply of popular weight loss injection Wegovy and diabetes shot Ozempic. Novo Nordisk will then buy three of Catalent’s manufacturing sites from its parent company for $11 billion, giving it further access to the fill-finish part of its Wegovy product. 🏭

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