Major Companies Announce Billion-Dollar Acquisitions and Mergers
In a series of significant deals, several major companies have announced acquisitions and mergers. Akero Therapeutics is set to join forces with Novo Nordisk in a $5.2 billion cash deal. Meanwhile, ABB has agreed to sell its robotics division to SoftBank for $5.375 billion. Coinbase and Mastercard have held talks to acquire BVNK, while Protagonist Therapeutics is in discussions with Johnson & Johnson. Fifth Third has agreed to buy Comerica in a $10.9 billion deal, and Qualcomm is acquiring hardware startup Arduino. Bristol Myers Squibb is acquiring Orbital Therapeutics for $1.5 billion in cash, and Clearway Energy is buying a 613 MW operational solar portfolio from Deriva Energy.
Akero Therapeutics, a clinical-stage biopharmaceutical company, has accepted a takeover offer from Danish pharmaceutical giant Novo Nordisk. The deal, valued at up to $5.2 billion in cash, will see Akero's shareholders receive $22.50 per share, a premium of 61% over the stock's closing price on Friday. The acquisition will strengthen Novo Nordisk's position in the obesity market.
In another notable deal, Swiss engineering company ABB has agreed to divest its robotics division to Japanese conglomerate SoftBank. The $5.375 billion cash deal includes ABB's robotics and discrete automation businesses, which generated revenues of $5.2 billion in 2021. SoftBank plans to integrate the acquired business with its existing portfolio, creating a global leader in robotics and automation.
Cryptocurrency exchange Coinbase and financial services giant Mastercard have held advanced discussions to acquire BVNK, a UK-based digital banking platform. The acquisition would expand Coinbase's offerings and help Mastercard tap into the growing digital asset market.
Protagonist Therapeutics, a biopharmaceutical company focused on peptide therapeutics, is in acquisition talks with healthcare giant Johnson & Johnson. Dr. Patel, Ph.D., who serves as President and Chief Executive Officer at Protagonist Therapeutics, is leading the discussions. The acquisition is expected to be completed by the end of 2025, subject to customary closing conditions.
In the banking sector, Fifth Third has agreed to acquire Comerica in an all-stock deal valued at approximately $10.9 billion. The combined entity will create the fifth-largest U.S. regional bank by assets, with a strong presence in the Midwest and Southwest.
Semiconductor company Qualcomm is acquiring hardware startup Arduino, known for its open-source electronic prototyping platform. The acquisition will expand Qualcomm's Internet of Things (IoT) offerings and strengthen its position in the growing IoT market.
Pharmaceutical company Bristol Myers Squibb has agreed to acquire Orbital Therapeutics, a clinical-stage biopharmaceutical company focused on developing oral therapies for immune and inflammatory diseases. The $1.5 billion cash deal will see Bristol Myers Squibb gain access to Orbital's pipeline of oral therapies.
Clearway Energy, a renewable energy company, has agreed to acquire a 613 MW operational solar portfolio from Deriva Energy. The acquisition will expand Clearway Energy's renewable energy portfolio and support its growth in the solar energy sector.
These acquisitions and mergers highlight the ongoing consolidation and strategic partnerships across various industries, from pharmaceuticals and technology to finance and renewable energy. As these deals progress, they are expected to reshape the competitive landscape and drive growth for the involved companies.
