CEOs of Albertsons, Kroger say shoppers would see lower prices after merger
The Federal Trade Commission contends the $24.6 billion deal would eliminate competition and lead to higher food prices for already struggling customers.
Mergers & Acquisitions
Articles
Biden preparing to block Nippon Steel purchase of U.S. Steel
The deal would create the third-largest global steelmaker in a bid to compete with Chinese rivals on the global stage. More than 2,000 people work for U.S. Steel in Gary, Indiana.
Fishers-based Flexware acquires North Carolina-based engineering services firm
Fishers-based Flexware Integration LLC, a fast-growing IT services provider, has acquired Castle Hill Technologies LLC, a North Carolina-based company that provides engineering services to the pharmaceutical industry.
Kroger, Albertsons defend merger plan in federal court against regulators
The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. But the Federal Trade Commission sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices.
Kroger, Albertsons hope to merge but must face skeptical government in court first
Starting Monday, a federal district court judge in Portland, Oregon, will consider both sides and decide whether to grant the FTC’s request for a preliminary injunction.
Kroger sues to halt FTC proceeding meant to block Albertsons merger
Legal experts characterize the move as an extraordinary attempt to interrupt the FTC’s enforcement powers, as it relies on a recent Supreme Court decision that limited a separate federal agency’s use of in-house legal proceedings.
Circle K operator seeks to buy $31B owner of 7-Eleven chain
A merger would create the world’s top operator of roughly 100,000 convenience stores, with hundreds of those stores in Indiana.
AMD buying server maker ZT Systems for $4.9 billion to strengthen AI capabilities
AMD plans to sell ZT Systems’ server manufacturing business after the deal closes, with mergers and acquisitions in tech and elsewhere getting a closer look by regulators under the Biden administration.
Deal worth $30B putting M&M’s and Snickers alongside Cheez-It and Pringles
M&M’s maker Mars Inc. is buying Kellanova Co., the maker of Pop-Tarts, in one of the biggest acquisitions of the year, vastly expanding the number of household-name brands under one roof.
Eli Lilly taps blue-chip bond market to fund Morphic acquisition
Lilly is buying Morphic for $3.2 billion to gain experimental therapies for inflammatory bowel disease and other chronic illnesses.
Capital One offers $265B benefit plan to appease regulators for planned purchase of Discover
Capital One said it plans to buy and merge with Discover Financial Services, which will create the seventh-largest bank in the country as well as the largest credit card company. Capital One would also acquire Discover’s payment network, a rare asset.
Safe Harbor Policy provides ‘carrot’ for voluntary M&A misconduct disclosures
To give an added jolt to government efforts to deter criminal misconduct in merger and acquisition transactions, the U.S. Department of Justice unveiled a new Safe Harbor Policy last year geared toward voluntary self-disclosures.
Elanco completes $1.3B sale of aqua business, allowing it to reduce debt load
The company had debt of $5.7 billion as of March 31 and has been under pressure from Wall Street to reduce it.
Lilly to buy Massachusetts biopharma company for $3.2B
Massachusetts-based Morphic Holding Inc. is a nine-year old, publicly traded company that is developing a class of drugs known as oral integrin therapies to treat autoimmune diseases, pulmonary hypertensive diseases, fibrotic diseases and cancer.
Parent company of Saks Fifth Avenue to buy Neiman Marcus for $2.65B
The new entity will be called Saks Global, creating a luxury powerhouse at a time when the arena has become increasingly fragmented with different players.
Indianapolis tech startup Arrive calls off planned merger
Smart-mailbox startup Arrive AI, which in December announced plans to merge with Canada-based Brüush Oral Care Inc. and become a public company, says it has called off the deal.
Broad Ripple-based PR firm Blastmedia acquired by Boston firm
Blastmedia, a public relations firm which serves business-to-business software companies, is now doing business as PANBlast, a division of PAN Communications. All 40 Blastmedia employees have remained with the company, PAN announced Thursday.
Indiana aims to keep closer eye on mergers, acquisitions
Starting July 1, any health care entity or private equity firm that is planning a merger or acquisition in Indiana—where the assets of at least one of the parties is $10 million or more—must notify the state attorney general at least 90 days in advance.
ConocoPhillips buying Marathon Oil for $17.1B as energy prices rise
The proposed acquisition could face pushback from the U.S. which, under the Biden administration, has stepped up antitrust reviews for energy companies and other sectors as well, such as tech.
T-Mobile to buy almost all of U.S Cellular in deal worth $4.4B
T-Mobile has been among the more active companies in telecommunications with regard to mergers and acquisitions.