M&A

April 12, 2022

$FRG Joins Kohl’s Bidding War

Kohl’s has been feeling the heat as its activist hedge fund investors (specifically, Macellum Advisors) want the company to sell. Today, Franchise Group Inc became the fourth bidder in pursuit of a Kohl’s acquisition. 💰 🔥

Franchise Group Inc is the owner of Sylvan Learning, Pet Supplies Plus, the Vitamin Shoppe, and other popular franchised brands. The company offered Kohl’s a deal worth $9 billion, or $69/share. Kohl’s posts about 83% higher annual revenue than Franchise Group, so a successful Kohl’s acquisition could certainly stand to benefit $FRG in the long run.

Although Franchise Group Inc just offered Kohl’s $9 billion, it’s not the company’s highest bidder. The Canada-based luxury retail manager Hudson’s Bay (owner of the boujee Sak’s Fifth Avenue) offered Kohl’s $70/share. The hedge fund Acacia Research Corp and PE firms Sycamore Partners and Leonard Green & Partners have also offered their bids for Kohl’s in two other deals. 

The Kohl’s Board said that it is engaging in a “robust and intentional process to evaluate potential bids” going forward. $KSS investors seemed optimistic about the latest bid — Kohl’s stock gained 5.35% today to close at $60.30. 📈

Learn More About...

You Might Also Enjoy

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. 🏭

Read It

Earnings

January 12, 2024

UnitedHealth Drops Despite Beat

One of the key factors driving services inflation has been medical costs. And unfortunately for UnitedHealth Group, those higher costs are pressuring its earnings. Let’s take a look at how the company fared after reporting results. 👀

The health insurer reported adjusted earnings per share of $6.16 on sales of $94.4 billion, topping the expected $5.98 and $92.1 billion. Revenue from its managed care business was better than anticipated, but earnings from operations were lighter. Meanwhile, its health services business revenue and earnings both topped expectations.

Read It

M&A

February 20, 2024

Walgreens Gets The Boot

It’s tough being part of the U.S. stock market’s largest indexes. With thousands of individual stocks to choose from, if any one component isn’t performing, it’s simply replaced by something else. 🔀

In other words, everyone is replaceable. That’s the harsh truth that Walgreens is facing today after discovering Amazon is replacing it in the Dow Jones Industrial Average. 🔀

Read It

More in   M&A

View All

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.

Read It

M&A

April 3, 2023

An M&A Monday

It was a busy day for dealmakers, so let’s recap some of the biggest movers. 🤩

After months of searching for a deal, Vince McMahon’s World Wrestling Entertainment (WWE) has agreed to merge with the UFC as part of a deal with Endeavor Group. The deal values WWE at $9.3 billion and Endeavor’s asset UFC at $12.1 billion. 💰

Read It

M&A

June 26, 2023

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. 🏗️

Read It

M&A

October 23, 2023

A Day Of M&A Madness

As is usually the case, there was a lot of weekend news regarding mergers, acquisitions, partnerships, and more. So, let’s review the biggest ones. 👇

First up is oil giant Chevron buying its U.S. rival Hess for $53 billion, marking the second-largest deal in decades. The all-cash deal comes just weeks after Exxon Mobil purchased Pioneer Natural Resources for $59.5 billion to expand its reach in the Permian Basin. It also purchased Denbury this summer for $4.9 billion.

Read It