Coverage: GE to sell its biopharma business for $21 billion
General Electric Co. said on Monday it would sell its biopharma business to Danaher Corp. for $21.4 billion in the biggest strategy reversal since Lawrence Culp took over as the industrial conglomerate’s chief executive in September. Ankit Ajmera and Manas Mishra of Reuters had the news: GE rejected an approach by Danaher for that business a year ago. […]
Coverage: Spotify is buying two podcasting companies
Spotify Technology SA is buying a pair of podcasting companies, accelerating its investment in non-music content as it seeks to broaden its appeal and snap up share of listening time from radio. Anne Steele of The Wall Street Journal had the news: The company, which is already the second-largest podcasting platform, said it would buy podcast publisher Anchor […]
Coverage: Eli Lilly makes $8 billion bet on cancer drugs
Eli Lilly said Monday it will buy Loxo Oncology Inc. for $8 billion, an expensive bet on a pipeline of cancer drugs that target rare genetic mutations and the biggest acquisition in the drugmaker’s 143-year history. Tamara Mathias and Ankur Banerjee of Reuters had the news: The price represents a 68 percent premium to Loxo’s Friday share price close, which […]
Coverage: Bristol-Meyers buying Celgene for $74 billion
Bristol-Myers Squibb Co. said on Thursday it would buy Celgene Corp. for about $74 billion, combining two of the world’s largest cancer drug businesses in the biggest pharmaceutical deal ever. Michael Erman and Ankur Banerjee of Reuters had the story: Both Bristol-Myers and Celgene face separate challenges, and some Wall Street analysts questioned whether the combination – which the companies […]
Forbes has highest profits in more than a decade, looks at deals
Forbes has had the highest profits at the company in more than a decade and is now looking at mergers and acquisitions, reports Sahil Patel of Digiday. Patel writes, “In an interview with Digiday, Forbes Media CEO Mike Federle declined to name a specific revenue figure but said overall revenues were up by more than 18 percent […]
Mergermarket seeks industrials M&A reporter
Mergermarket, an Acuris company, is looking for a reporter to cover industrials M&A trends from our Los Angeles bureau. Candidates should excel in off-diary reporting and be able to write clean copy fast. The position centers on writing forward-looking articles delineating company growth strategies, and scooping the details of deals in progress. A background in […]
Mergermarket seeks M&A reporter in health care
Mergermarket, an Acuris company, is looking for a reporter to cover healthcare M&A from our Los Angeles bureau. Candidates should excel in off-diary reporting and be able to write clean copy fast. The position centers on writing forward-looking articles delineating company growth strategies, and scooping the details of deals in progress. A background in finance […]
Coverage: Nutrisystem is sold for $1.4 billion
Tivity Health Inc. is buying weight-management firm Nutrisystem Inc. in a cash and stock deal the companies value at about $1.4 billion, the firms announced Monday. Allison Prang of The Wall Street Journal had the news: Tivity, however, lost almost a third of its market value as investors reacted negatively to the deal. Tivity is the parent […]
Coverage: GlaxoSmithKline is buying Tesaro for $5 billion
The cancer-focused biotech Tesaro is being acquired by pharmaceutical giant GlaxoSmithKline PLC for $5.1 billion. Adam Feuerstein of STAT had the news: The deal values Tesaro at $75 per share, or a 63 percent premium to Friday’s closing price. Tesaro’s drug Zejula belongs to a class of cancer drugs called PARP inhibitors that work by blocking an enzyme that […]
Coverage: Kellogg wants to sell its cookies and fruit snacks to focus on breakfast
Kellogg Co. is selling its Keebler, Famous Amos and fruit snacks businesses, making it the latest Big Food company to look to pare down to focus on its core. Dawn Kopecki and Lauren Hirsch of CNBC.com had the news: The maker of Special K cereal said Monday it is focusing on its morning foods, snacks and frozen foods brands, […]
