KKR to take Envision private for $5.57 billion in healthcare push

KKR to take Envision private for $5.57 billion in healthcare push

KKR said on Monday it will take U.S. physician services provider Envision Healthcare private in a deal valued at $5.57 billion, its latest acquisition in the healthcare sector. The private equity firm saw off competition from peers Carlyle Group, TPG Global and others as it sealed the deal for $46 per share – a premium of 5.4 percent to Envision’s last close on Friday. Envision’s shares were up 2.4 percent at $44.7 in premarket trading….

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Knauf is buying building products maker USG for about $7 billion

Knauf is buying building products maker USG for about $7 billion

German building materials maker Knauf is buying American building products maker USG in an approximately $7 billion deal. Gebr. Knauf will pay $44 per USG share. That includes $43.50 per share in cash payable once the transaction closes and a special dividend of 50 cents per share that would be paid after shareholders approve the deal. Berkshire Hathaway and its subsidiaries, which own about 31 percent of USG’s outstanding stock, have agreed to vote in…

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Boston Scientific says it won’t comment on reports Stryker made takeover offer

Boston Scientific says it won’t comment on reports Stryker made takeover offer

Boston Scientific said Monday it won’t comment on reports rival medical device manufacturer Stryker made a takeover bid, which was first reported by The Wall Street Journal. Stryker’s shares tumbled more than 4 percent, and Boston Scientific’s rose nearly 8 percent Monday in afternoon trading. They were halted before Boston released its statement. “Boston Scientific … is aware of reports speculating that the company has been approached by Stryker Corporation regarding a potential acquisition.” the…

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Deutsche Bank reportedly discussing Commerzbank merger with top investors

Deutsche Bank reportedly discussing Commerzbank merger with top investors

Deutsche Bank Chairman Paul Achleitner is speaking with top shareholders about a potential merger with rival Commerzbank, Bloomberg reported. Achleitner has also discussed a possible merger with key German officials in recent months. There have been no formal talks between the two German lenders, and a deal is not considered to be imminent, sources told Bloomberg. Deutsche Bank’s share prices, which have declined 39 percent this year, represent a major obstacle for a potential deal….

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Justice Department probes T-Mobile-Sprint merger’s effect on smaller wireless companies

Justice Department probes T-Mobile-Sprint merger’s effect on smaller wireless companies

The U.S. Department of Justice is examining how the proposed merger between T-Mobile US and Sprint could affect prices for smaller wireless operators, according to two people familiar with the matter. A T-Mobile and Sprint merger would eliminate competition between the two carriers that have been the dominant players in selling network access to wireless companies that often serve pre-paid or price-conscious consumers, and could lead to higher prices for those users. The Justice Department,…

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International Paper to drop bid for Smurfit Kappa

International Paper to drop bid for Smurfit Kappa

International Paper confirmed on Tuesday that it will not make an offer for Irish packaging company Smurfit Kappa, because of lack of engagement from Smurfit’s management. “IP believes the revised proposal was highly attractive and formed a sound basis for engagement, which the company viewed as essential to determining the full value potential of the combination,” the paper-packaging firm said in a statement. International Paper has decided to end its pursuit after courting Smurfit for…

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Northrop Grumman wins US antitrust approval to buy Orbital ATK

Northrop Grumman wins US antitrust approval to buy Orbital ATK

U.S. defense contractor Northrop Grumman won U.S. antitrust approval to buy solid rocket motor supplier Orbital ATK with conditions, the Federal Trade Commission said on Tuesday. The $7.8 billion deal was approved on condition that Northrop supply the solid rocket motors to competitors for missile contracts and to separate the two companies’ operations with a firewall, the FTC said in a statement. Northrop said in a statement it expects the transaction will be completed after…

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WhatsApp’s co-founders reportedly gave up $1.3 billion as Facebook merger devolved to ‘low class’ spat

WhatsApp’s co-founders reportedly gave up $1.3 billion as Facebook merger devolved to ‘low class’ spat

New details have emerged about the long-standing tension between Facebook and its biggest acquisition, WhatsApp, according to The Wall Street Journal. The Journal reported on Tuesday that WhatsApp co-founders Brian Acton and Jan Koum gave up $900 million and $400 million, respectively, by leaving Facebook before they were eligible for stock awards. Their departure followed mounting pressure from Facebook executives to consider advertising and other monetization methods, the Journal said. The pair, both vocal critics…

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Sharp to buy Toshiba’s PC business and issue $1.8 billion in new shares

Sharp to buy Toshiba’s PC business and issue $1.8 billion in new shares

Japan’s Sharp said it will buy Toshiba’s personal computer business and issue $1.8 billion in new shares to buy back preferred stock from banks, highlighting a swift recovery under the control of Foxconn. The acquisition of the PC business for $36 million marks a return by Sharp to a market it quit eight years ago, even if its comparatively low cost underscores dwindling demand in a world where many consumers spend more money on their…

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Microsoft to buy GitHub, a platform for software developers, for $7.5 billion in stock

Microsoft to buy GitHub, a platform for software developers, for $7.5 billion in stock

Microsoft on Monday announced plans to acquire software developer platform GitHub in a deal valued at $7.5 billion. GitHub was valued at $2 billion in its last funding round in 2015, though it has yet to turn a profit. Microsoft has seen its once-dominant Windows unit slip in market share in recent years, spurring a cloud-first reorganization and sending Microsoft looking for alternatives to court developers. “Microsoft is a developer-first company, and by joining forces…

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