Streetbeat News

Acquisitions Mergers

OMC

Omnicom Group Inc has announced the acquisition of Grabarz & Partner, a creative agency based in Hamburg, Germany. The financial terms of the deal were not disclosed. The acquisition is expected to close in Q3 2023. The move is aimed at boosting Omnicom's presence in Germany. Omnicom's shares are currently trading lower by 2.18% at $91.99.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 4:47 pm

BLCO

JNJ

NVS

Bausch + Lomb Corporation (NYSE:BLCO) has acquired Johnson & Johnson's (NYSE:JNJ) eye and contact lens drops brand Blink for $106.5 million. This is the second acquisition in two weeks aimed at bolstering Bausch + Lomb's portfolio of eye care products. Last week, the company struck a $1.75 billion deal with Novartis AG (NYSE:NVS) to buy several eye-care products.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 4:14 pm

DISH

SATS

Charlie Ergen, the chairman of Dish and EchoStar, is considering merging the two companies. EchoStar is financially stronger than Dish, which is spending heavily to build a nationwide mobile network. Dish has $22 billion of debt, more than 10 times its annual cash flow, while EchoStar is essentially debt-free. Dish is also under pressure from the FCC to meet a 2025 deadline to offer service to 75% of Americans, which may require an additional $3 billion investment.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 3:37 pm

MMC

Marsh & McLennan Companies Inc (NYSE:MMC) has acquired Integrity HR, Inc., a human resources consulting firm. The acquisition is expected to enhance MMC's national Employee Health & Benefits division by adding new HR capabilities. The financial terms of the deal were not disclosed. Last month, MMC also acquired SOLV Risk Solutions, LLC to boost its risk advisory business.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 3:27 pm

TMO

Thermo Fisher Scientific Inc (NYSE:TMO) has agreed to acquire CorEvitas LLC from Audax Private Equity for $912.5 million in cash. CorEvitas provides regulatory-grade, real-world evidence solutions to pharmaceutical and biotechnology companies. The acquisition is expected to be completed by the end of 2023 and will be immediately accretive to adjusted earnings per share by $0.03 in 2024.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 3:19 pm

MOD

Modine Manufacturing Company (NYSE:MOD) has acquired Napps Technology, a manufacturer of air- and water-cooled chillers, condensing units and heat pumps for the K-12 school market. The acquisition is expected to enhance Modine's offerings to the K-12 school market and generate $6 million - $8 million in revenue this year, with a forecast to double within two years. Modine plans to continue manufacturing in Longview, Texas, and Sam Neale, current president of Napps Technology, will join Modine.

Portfolio Pulse from Shivani Kumaresan

July 06, 2023 | 3:09 pm

WLY

Education assistance benefits provider Tuition.io has acquired Wiley's Tuition Manager business, a platform that enables employers to offer tuition assistance benefits to their employees. The financial terms of the deal were not disclosed. The acquisition is expected to strengthen Tuition.io's position in the market and expand its suite of services.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:31 pm

NCR

NCR Corporation is reportedly seeing takeover chatter, according to rumors circulated by DealReporter. Engaged Capital, a large stakeholder in NCR, is also involved, with its founder Glenn Welling sitting on NCR's board.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:06 pm

MMC

Marsh McLennan Agency, a subsidiary of Marsh, has acquired Integrity HR, Inc., a human resources consulting firm. The acquisition will expand Marsh McLennan Agency's national Employee Health & Benefits division to include a full suite of new HR capabilities. The financial terms of the deal were not disclosed.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:03 pm

MOD

Modine (NYSE:MOD) has acquired Napps Technology, a manufacturer of air- and water-cooled chillers, condensing units and heat pumps for the K-12 school market. The acquisition is part of Modine's growth strategy to expand its technology portfolio and improve indoor air quality in schools. Modine expects to generate between $6 million to $8 million in revenue this year from the acquisition and forecasts doubling that within two years.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 1:48 pm