M&A

November 5, 2021

McAfee Moves +20%

Cybersecurity company McAfee rose 20% on news that it could be purchased by private equity firms Advent International Corp. and Pelmira. The deal would value McAfee at more than $10 billion. 💰 💰

The sale still hasn’t been confirmed, but rumor has it the deal could be announced officially on Monday. People familiar with the situation say the companies are in talks, but a transaction could still fall through (which isn’t all that unusual these days.) 

Last month, McAfee’s Enterprise business was combined with FireEye and purchased by the PE firm Symphony Technology Group in an all-cash deal worth $1.2 billion. McAfee is also partly owned by Thoma Bravo LP and Singapore sovereign-wealth fund. GIC Pte. Ltd. 

$MCFE is up 0.08% in AH.

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M&A

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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January 3, 2024

Egg Investors Try To Keep $CALM

Last time we talked about egg producer Cal-Maine Foods’, its stock price was cracking due to lower egg prices. Unfortunately, this quarter didn’t fare much better, with shares once again falling after its quarterly report.

The company’s second-quarter earnings per share of $0.35 were down over 90% from last year’s $4.07. And revenues of $523.2 million were down about 35% YoY. Both numbers missed analyst expectations of $0.83 and $525 million. 🔻

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January 4, 2024

Self-Driving Vehicle Problems Mount

It’s been a rough time for the self-driving vehicle industry, with issues around GM’s Cruise unit renewing the regulatory spotlight on the space in late 2023. Unfortunately for investors betting on a quick turnaround, self-driving technology company Mobileye Global warned that it may take longer than anticipated. ⚠️

The company said its results this year will be impacted by customers clearing excess inventory for their books before placing new orders. It provided a preliminary 2024 operating loss between $378 and $468 million, much more significant than its preliminary 2023 operating loss of $33 to $39 million. Its 2024 revenue forecast of $1.83 to $1.96 billion also fell short of the $2.58 billion consensus view. 📊

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M&A

February 6, 2023

A Day Of Deals

It was a busy day on Wall Street, so let’s recap the buyouts, IPOs, and more dealmaking you might’ve missed. 👀

First up is the Mediterranean restaurant chain Cava confidentially filing for an IPO. The fast-casual restaurant was founded in 2006 and expanded in 2018 by buying Zoes Kitchen for $300 million. It recently raised $230 million in April 2021 at a valuation of $1.71 billion. Now, the company is looking to go public as the market reheats following an ice-cold 2022. 🥗

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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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M&A

January 10, 2023

AI Is 2023’s New Buzzword

While 2022 was the year of Web3, many are noticing the sharp shift to artificial intelligence (AI) among companies and individuals alike. 🤖

Feeding that feeling is Microsoft’s potential $10 billion investment in ChatGPT-owner OpenAI, which values the company at $29 billion. Microsoft had previously invested $1 billion in the Elon Musk and Sam Altman-founded company in 2019. Its cloud services arm also provides OpenAI’s computing power.

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M&A

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Dealmakers Rush Before Quarter End

While there are typically a lot of deals announced after a weekend, today was exceptionally busy. Let’s take a look. 👇

The world’s largest industrial property real estate investment trust, Prologis, owns 1.2 billion square feet in 19 countries. And it’s about to get even bigger. The company announced today it’s buying a portfolio of U.S. warehouses and distribution properties for $3.1 billion. It signals that industrial properties remain strong in an otherwise shaky commercial property industry. 🏗️

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