Bidding war for Spirit Airlines heats up ahead of vote
JetBlue said Monday that it will now provide a $350 million reverse break-up payable to Spirit if a deal between the two isn’t completed for antitrust reasons.
Mergers & Acquisitions
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Musk threatens to walk away from Twitter deal
Elon Musk is threatening to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts.
Local tech firm Greenlight Guru acquires Danish firm
This is the third acquisition announced this year for Indianapolis-based Greenlight Guru, which offers a platform to help medical device makers with regulatory requirements.
Big tech deals keep coming: Broadcom buys VMware for $61B
With the perceived value of tech companies on the decline, at least for now, more buyouts could be on the way with targeted companies appearing relatively cheap.
Fire protection firm sweeping across Midwest
Indianapolis-based CertaSite is gobbling up companies quickly to expand its reach.
McDonald’s selling all 850 of its restaurants in Russia
Last year, McDonald’s Russian operations contributed 9% of the company’s total annual sales, or around $2 billion.
Musk wars with Twitter over his buyout deal—on Twitter
The sharp turnaround by the world’s richest man makes little sense except as a method to scuttle or renegotiate a deal that’s becoming increasingly costly for him, experts said.
Indianapolis-based Resultant acquires Texas-based consulting firm
Indianapolis-based technology consulting and analytics firm Resultant has acquired Teknion Data Solutions, which is based in the Dallas metro area. It’s the fourth and largest acquisition Resultant has made in the past three years.
Musk hints at paying less for Twitter than his $44B offer
Tesla CEO Elon Musk told a Miami technology conference that a viable deal at a lower price would not be out of the question, according to a report by Bloomberg News.
JetBlue launches hostile takeover bid for Spirit Airlines
Analysts say a merger of any of the two carriers could create an airline with the scale and routes to more effectively compete with the nation’s four largest air carriers.
Musk says $44B Twitter acquisition ‘temporarily on hold’
Elon Musk’s concern about spam and fake accounts on the social media platform represents yet another twist amid signs of internal turmoil over the proposed acquisition.
Louisiana-based company acquires Indianapolis IT services firm
Indianapolis-based Accelerate Inc., a 27-year-old IT managed services provider, has been acquired by The Purple Guys, the companies announced Tuesday.
Duke Realty rejects $24B Prologis acquisition bid, deeming it ‘insufficient’
Prologis, one of the world’s largest real estate investment trusts, said it has been trying to acquire Indianapolis-based Duke since November. Duke said in a written statement issued Wednesday that those buyout efforts simply haven’t been good enough.
Prologis offers to acquire Duke Realty for nearly $24 billion
In a public letter, Prologis CEO and co-founder Hamid Moghadam said his San Francisco-based company has been trying to acquire Indianapolis-based Duke quietly without luck since late November and decided to make the effort public.
Musk lines up $7.1B in investor financing for Twitter bid
The infusion adds heft to the Tesla chief’s offer and eases some of the financial pressure he’s taken on in pursuit of the social media platform.
KAR’s $2.2B ADESA sale expected to close within days
The sale of ADESA to Arizona-based Carvana, which KAR announced in February, is part of KAR’s ongoing shift away from physical auto auctions toward digital platforms and tools.
Home improvement firm New Bath Today acquired by Atlanta firm
Brothers Mike and Ryan Redman started Indianapolis-based New Bath Today as a spinoff of their contracting business in 2016 and it has been growing quickly ever since.
Penske Automotive acquires Terry Lee dealerships in Noblesville
The acquisitions of Terry Lee Hyundai and Terry Lee Genesis closed on Tuesday. Lee, who has owned car dealerships since 1995, said the sale marked his departure from the automotive sales business.
Spirit Airlines rejects JetBlue’s $3.6B bid, citing concerns over federal approval
The board of Spirit Airlines said it would continue to pursue a merger with Frontier Airlines.
First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.