===Tapestry (TPR) : Judge has blocked acquisition of Capri Holdings (CPRI)

Judge has blocked Tapestry (TPR) acquisition of Capri Holdings (CPRI), according to CNBC. In which, Tapestry issues statement on District Court ruling. 

===Alteryx (AYX) has been acquired by Clearlake Capital and Insight Partners,

 In December 2023, Alteryx announced Clearlake Capital and Insight Partners, two private equity firms, acquired the company in a $4.4 billion deal. The acquisition took Alteryx private and it closed in March 2024.  Alteryx stockholders will receive $48.25 in cash for each share of Alteryx Class A or Class B common stock that they own.

Translate Bio (TBIO) to be acquired by Sanofi (SNY) for $3.2 billion

• Sanofi will pay $38 per share in cash, or $3.2 billion
• Translate Bio specializes in messenger RNA technology, the same used by Moderna and BioNTech in their Covid-19 vaccines.
• IPO on  June 28, 2018

 

 

 

 

Already partners, in June 2018 Sanofi and Translate Bio entered into a collaboration and exclusive licence agreement to develop mRNA vaccines, which was further expanded in 2020 to broadly address current and future infectious diseases.

Under the collaboration, there are two ongoing mRNA vaccine clinical trials: the COVID-19 vaccine Phase 1/2 study (with results expected in Q3 2021) and the mRNA seasonal influenza vaccine Phase 1 trial (with results due in Q4 2021).

The acquisition of Massachusetts-based Translate Bio will also help fast track Sanofi’s plans for its recently announced mRNA Centre of Excellence.

Aon (AON), Willis Towers (WLTW) scrap $30 billion merger

• The Justice Department had alleged the tie-up of insurance brokers would lead to higher prices and reduced innovation for U.S. 

 

Willis Towers Watson and Aon plc (AON) agree to terminate their merger agreement and end litigation with the DoJ; AON to pay WLTW a $1 bln termination fee 

• "Despite regulatory momentum around the world, including the recent approval of our combination by the European Commission, we reached an impasse with the U.S. Department of Justice," said Aon CEO Greg Case. "The DOJ position overlooks that our complementary businesses operate across broad, competitive areas of the economy. We are confident that the combination would have accelerated our shared ability to innovate on behalf of clients, but the inability to secure an expedited resolution of the litigation brought us to this point."
• In connection with the termination of the business combination agreement, Aon will pay the $1 billion termination fee to Willis Towers Watson, Willis Towers Watson's proposed scheme of arrangement has now lapsed, and both organizations will move forward independently. Both firms will provide further financial updates and outlooks on their respective Q2 2021 earnings calls, which take place on July 30 for Aon and August 3 for Willis Towers Watson.

Plantronics, Inc. (PLT) (Poly) reported earnings on Thur 13 May 21 (a/h)

Mar 28, 2022: Poly was acquired by HP in an all-cash deal worth $3.3 billion including debt. 

 

** charts before earnings **

 

** charts after earnings **

 

Poly to change ticker symbol to "POLY", effective May 24

• Poly announced that its ticker symbol on the NYSE will change to "POLY" at the open of market trading on May 24. Poly, formerly Plantronics and Polycom, has traded under the ticker "PLT" since Plantronics' initial public offering in 1994.

Poly beats by $0.30, beats on revs; guides Q1 EPS below consensus, revs below consensus

Reports Q4 (Mar) earnings of $1.23 per share, excluding non-recurring items, $0.30 better than the S&P Capital IQ Consensus of $0.93; revenues rose 16.9% year/year to $478 mln vs the $454.93 mln S&P Capital IQ Consensus.

The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain. End market demand remains strong for Video and Headsets, while Voice demand is recovering. However, the Company's ability to execute on this demand is subject to availability of certain components. Absent supply shortages, we believe demand would support sequential revenue growth off the March quarter. 

Co issues downside guidance for Q1, sees EPS of $0.35-0.55, excluding non-recurring items, vs. $0.79 S&P Capital IQ Consensus; Based on current supply and expected availability of specific components, the Company expects Q1 revs of $410-430 mln vs. $438.76 mln S&P Capital IQ Consensus.

Ferro (FOE) to be acquired by Prince International for $2.1 billion

  

 

 

 

Ferro misses by $0.01, beats on revs 

• Reports Q1 (Mar) earnings of $0.22 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.23; revenues rose 14.3% year/year to $288.4 mln vs the $259.87 mln S&P Capital IQ Consensus.

Paint maker Ferro to be acquired by Prince International Corporation for $22.00/share in $2.1 bln all-cash transaction

Co  announced it has entered into a definitive agreement to be acquired by Prince International Corporation, a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash.

Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of Ferro for $22.00 per share in cash.

Long trade : GenMark Diagnostics (GNMK) +20% (6/20)

Update: GenMark to be acquired by Roche for $24.05 per share or $1.8 billion. (May 1, 2021)

• June 10, 20: #6, 10, 20, 44, 52; vol. 1.7M 

 

=Pacific Biosciences (PACB) to be acquired by Illumina (ILMN) for $8.00/share

• Update Jan 02, 2020 NEW YORK – Gene sequencing company Illumina abandons $1.2 billion deal to buy rival Pacific Biosciences. Antitrust authorities in the U.S. and U.K. had been scrutinizing the deal, the companies said. 
• Illumina would pay Pacific Biosciences $98 million for the terminated deal, which was announced in 2018 and had attracted scrutiny from antitrust authorities in the United States and UK, both the companies said in a joint statement.
  

*****

• Oct. 30: #1, 5; vol. 777K

Pacific Biosciences to be acquired by Illumina (ILMN) for $8.00/share in cash, or approximately $1.2 bln
With its acquisition of Pacific Biosciences, Illumina will be positioned to provide integrated workflows and novel innovations that bring together the best of both technologies to help researchers advance their discoveries faster and clinicians offer new tests economically. The transaction is subject to approval by the shareholders of Pacific Biosciences, as well as other customary closing conditions, including applicable regulatory approvals. Illumina expects to close the transaction in mid-2019.

Pacific Biosciences misses by $0.04, misses on revs;

Reports Q3 (Sep) loss of $0.19 per share, $0.04 worse than the S&P Capital IQ Consensus of ($0.15); revenues fell 22.9% year/year to $18.16 mln vs the $22.39 mln S&P Capital IQ Consensus.

Illumina (ILMN) will acquire Pacific Biosciences at a price of $8.00 per Pacific Biosciences share in an all-cash transaction. This price represents a premium of 71% to Pacific Biosciences' 30 trading day volume weighted average share price as of the market close on October 31st, 2018, and a total enterprise value of approximately $1.2 billion on a fully diluted basis.

President Trump bars Chinese firm from buying U.S. chipmaker Lattice (LSCC)

Lattice Semi and Canyon Bridge Capital Partners terminate merger agreement 

• Lattice Semiconductor announced the termination of the acquisition by Canyon Bridge Capital Partners, of Lattice Semiconductor following an order from the President of the United States.
• The Committee on Foreign Investment in the United States referred the transaction with Canyon Bridge to the U.S. President for a decision, having been unable to come to an agreement with the parties on mitigation measures.
• After consideration, the President prohibited the proposed transaction on the recommendation of CFIUS in an executive order dated September 13.

** chart before announcement **

(Reuters) - U.S. President Donald Trump blocked a Chinese-backed private equity firm from buying a U.S.-based chipmaker on Wednesday, sending a clear signal to Beijing that Washington will oppose takeover deals that involve technologies with potential military applications.

Canyon Bridge Capital Partners' planned $1.3-billion acquisition of Lattice Semiconductor Corp (LSCC) was one of the largest attempted by a Chinese-backed firm in the U.S. microchip sector and was the first announced deal for the buyout fund, which launched last year with a focus on technology investment.

U.S. regulatory scrutiny grew after Reuters reported in November that Canyon Bridge was funded partly by capital from China's central government and had indirect links to its space program.

U.S. defense officials subsequently raised concerns about the Lattice acquisition by a firm backed by the Chinese government.

Portland, Oregon-based Lattice makes chips known as field-programmable gate arrays, which allow companies to put their own software on silicon chips for different uses. It said it no longer sells chips to the U.S. military, unlike its two biggest rivals, Xilinx Inc (XLNX) and Intel Corp's (INTC) Altera.

Trump said in an executive order that Lattice and Canyon Bridge "shall take all steps necessary to fully and permanently abandon the proposed transaction" within 30 days.

Trump's decision chimes with the views of the Committee on Foreign Investment in the United States (CFIUS), which scrutinizes deals for potential national security threats.