- REUTERS/Laszlo Balogh
It has been a big week for Wall Street dealmakers, with a flurry of high-profile mergers and acquisitions announced in the past 24 hours.
There has now been more than $100 billion worth of deal activity in the week starting September 5, according to Thomson Reuters.
It is the first time weekly deal activity has topped $100 billion since Brexit.
Here’s what you need to know:
Hewlett Packard Enterprise announced a deal to sell its software business in an $8.8 billion transaction. The company is creating a company with UK tech company Micro Focus for the unit in a transaction worth $8.8 billion including 50.1% ownership of the new combined company by HPE shareholders and a $2.5 billion cash payment to HPE. Goldman Sachs advised HPE, according to Thomson Reuters. JPMorgan and UK stockbroker Numis advised Micro Focus on the deal. The bankers at JPMorgan involved in the deal were: Bill Hutchings, Ben Berinstein, Jay Hofmann, Sanjay Jain, Dwayne Lysaght, and Chris Wood. At Numis it was Alex Ham, Simon Willis, and Tom Ballard. Private-equity company TPG and Intel are jointly spinning out Intel Security in a deal that values the business at $4.2 billion. Intel will get $3.1 billion in cash and a 49% stake in the business, which will be named McAfee. TPG will own a 51% stake. Liberty Media agreed to a deal to acquire motorsports business Formula One from a consortium of sellers led by private-equity company CVC. The deal values Formula One at $8 billion. Morgan Stanley is advising Liberty Media, while Goldman Sachs advised the selling group.
That follows a string of deals earlier in the week:
Canadian pipeline company Enbridge agreed to a deal for Houston-based Spectra Energy, creating the largest energy infrastructure company in North America. The deal, valued at $43.1 billion, is the third biggest announced M&A transaction this year, according to Dealogic. Credit Suisse and RBC Capital Markets advised Enbridge, while BMO Capital Markets and Citi advised Spectra. Electronic and environmental testing company Danaher struck a deal to acquire molecular diagnostics company Cepheid for around $4 billion. Morgan Stanley advised Danaher, and Goldman Sachs advised Cepheid, according to Thomson Reuters. Oil and gas company EOG Resources agreed a deal to buy Yates Petroleum in a deal valued at $2.5 billion. Wells Fargo advised Yates on the deal. General Electric agreed to buy two of the world’s top 3-D printing companies for $1.4 billion. GE bought the German company SLM Solutions, which makes laser machines for metal-based 3-D printing for aerospace and automotive companies, and the Swedish company Arcam, which specializes in metal-based 3-D printing.