Cadence agrees to buy State Bank in $1.4 billion all-stock deal

Cadence agrees to buy State Bank in $1.4 billion all-stock deal

Cadence Bancorp (NYSE:CADE)said on Sunday it had agreed to buy State Bank Financial in an all-stock deal valued at about $1.4 billion, signaling a potential rise in regional bank consolidation in the United States. The agreement, approved by the boards of both banks, will create an entity with $16 billion in assets and about 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas, the banks said in a press release. Investors expect a wave…

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Eli Lilly to buy cancer drug developer AurKa Pharma

Eli Lilly to buy cancer drug developer AurKa Pharma

Eli Lilly will buy AurKa Pharma in a deal potentially worth up to $575 million, the U.S. drugmaker said on Monday, seeking access to the privately held firm’s experimental cancer treatment for solid tumors. The deal is Lilly’s second in less than a week that aims to broaden its portfolio of lucrative cancer drugs. On Thursday, Lilly said it would buy Armo BioSciences for about $1.6 billion. AurKa Pharma will receive $110 million upfront and…

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Aurora to buy MedReleaf for $2.5 billion in pot mega-merger

Aurora to buy MedReleaf for $2.5 billion in pot mega-merger

Aurora Cannabis(OTCMKT:ACBFF;ACB.TO) will buy rival MedReleaf for C$3.2 billion ($2.51 billion), the companies said on Monday, the biggest deal yet to unify major Canadian marijuana growers. The deal comes two months before cannabis is expected to be legalized for recreational use in Canada, and is the latest in a wave of mergers in the industry as marijuana makers — emboldened by similar moves in Europe and a number of U.S. states — seek to cut…

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Walmart’s $16 billion deal for Flipkart a sign US companies are looking to India for deals

Walmart’s $16 billion deal for Flipkart a sign US companies are looking to India for deals

Walmart CEO Doug McMillon (R) speaking next to Flipkart co-founder and CEO Binny Bansal at an event in Bangalore, as a deal was announced for Walmart to buy a stake in Flipkart. – US retail behemoth Walmart will buy a 77 percent stake in Indian e-commerce giant Flipkart for $16 billion, Walmart said in a statement May 9. With U.S.-China relations in a fragile state, American companies are taking a closer look at India for…

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Comcast is said to include $2.5 billion break-up fee in Fox bid

Comcast is said to include $2.5 billion break-up fee in Fox bid

Comcast is prepared to offer $2.5 billion in break-up fees in its bid for Twenty-First Century Fox assets, according to the Financial Times. The cable company, and owner of CNBC-parent NBCUniversal, is planning to make a $60 billion, all-cash offer in mid-June for some of Fox’s assets, sources have said. An earlier bid was rebuffed in lieu of a potential deal with Disney. A regulatory filing last month showed Fox initially chose Disney over Comcast…

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UTC gets European go-ahead for $23 billion purchase of Rockwell Collins

UTC gets European go-ahead for $23 billion purchase of Rockwell Collins

A $23 billion bid from United Technologies Corp (UTC) to buy aircraft electronic equipment maker Rockwell Collins was approved by the European Union (EU) on Friday. The deal between the two U.S. firms is the biggest merger in aerospace history, according to reports. It was given the go-ahead by Europe’s competition watchdog on the condition that UTC first sells businesses making actuators, pilot controls, ice protection and oxygen systems. Commissioner Margrethe Vestager, in charge of…

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Redstone makes concessions on Viacom CEO to clinch CBS merger

Redstone makes concessions on Viacom CEO to clinch CBS merger

Shari Redstone, the media heiress whose family controls CBS and Viacom, has offered CBS CEO Leslie Moonves to drop her demands for Viacom CEO Bob Bakish to be his No. 2 following a merger, as long as Bakish sits on the combined company’s board, people familiar with the matter told Reuters on Friday. The offer is an attempt by Redstone to resolve an impasse in the deal negotiations. Redstone has been trying to put together…

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ConocoPhillips moves to take over Venezuelan PDVSA’s Caribbean assets

ConocoPhillips moves to take over Venezuelan PDVSA’s Caribbean assets

U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions. The U.S. firm targeted facilities on the islands of Curacao, Bonaire and St. Eustatius that accounted for about a quarter of Venezuela’s oil exports last year. The three play key roles in processing, storing…

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Steakhouse Del Frisco’s to acquire tapas restaurant owner Barteca for $325 million

Steakhouse Del Frisco’s to acquire tapas restaurant owner Barteca for $325 million

Del Frisco’s Restaurant Group, Inc.(NASDAQ:DFRG), known for its upscale steakhouses, told CNBC it will acquire Barteca Restaurant Group for $325 million in cash in a bid to expand its footprint and balance its portfolio. The deal announced Monday represents a calculated move by Del Frisco’s, which owns Del Frisco’s Grill, Del Frisco’s Double Eagle and Sullivan’s Steak House, to grow in scale and reach new customers. It’s a big step for a company with a…

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SK Telecom and Macquarie acquire security firm ADT Caps for $1.2b

SK Telecom and Macquarie acquire security firm ADT Caps for $1.2b

SK Telecom, South Korea’s largest wireless carrier, will acquire controlling stakes of local security firm ADT Caps, the company has announced. The company bought a 55 percent stake in Siren Holdings Korea, which owns 100 percent of ADT Caps, for 702 billion won, while investment banking firm Macquarie Group bought 45 percent for 574 billion won. The two bought the firm from Carlyle Group and the acquisition is expected to be completed in the third…

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