Here are the 5 biggest deal dispatches from this past week, as covered first on InvestingPro+.
Coupa Software (NASDAQ:COUP) was recently surging 26% in premarket trade Monday on news it had agreed to be taken private by Thoma Bravo in an all-cash $8 billion transaction, or $81 per share. That's a 77% premium to its close on Nov. 22, "the last full trading day prior to media reports regarding a possible sale transaction involving the company," said the announcement.
Several analysts had previously put the takeout price at $80 to $90 per share. The stock first jumped earlier this morning after Bloomberg said the talks were in an advanced stage. Shares were recently changing hands at $78.99 in the premarket.
Also Monday morning, Horizon Therapeutics (NASDAQ:HZNP) was recently up some 15% premarket after Amgen (NASDAQ:AMGN) agreed to acquire it for $116.50 per share, or $26 billion. If completed, Horizon would become Amgen’s largest-ever acquisition.
Amgen said it expects to complete the deal in the first half of 2023. Amgen CEO Robert Bradway said the buyout is a move that is "consistent with our strategy of delivering long-term growth by providing innovative medicines that address the needs of patients who suffer from serious diseases." Amgen shares were off 2.6% premarket.
Last week, a source told Investing.com that MBIA (NYSE:MBI) has received takeover bids from rivals Assured Guaranty (NYSE:AGO) and another company. Talks are said to be in the more advanced stages. Analysts have seen Assured as a natural buyer of MBIA. Assured has, in the past, made its intentions known that it wants to consolidate the remaining firms in the industry.
MBIA said it has no comment when asked about the two strategic bids. Assured has not responded to a request to comment. After the initial report, MBIA shares climbed some 10% intraday Thursday before settling at a fractional gain for the week. Assured lost 4.3% for the week.
The US Federal Trade Commission (FTC) said Thursday it has voted to block Microsoft's (NASDAQ:MSFT) $69 billion acquisition of Activision Blizzard (NASDAQ:ATVI), stating it would harm competition in high-performance gaming consoles and subscription services by denying or degrading rivals' access to its popular content.
Activision Blizzard shares slumped on the news and were down 2.4% for the week. Microsoft lost 2.6%.
NRG Energy (NYSE:NRG) said it will acquire Vivint (NYSE:VVNT) for $12 per share, or $2.8 billion, in an all-cash transaction with an implied multiple of 6.3x run-rate enterprise value to adjusted EBITDA, and a premium of some 33% to Vivint's Dec. 5 closing price. Vivint shares rose sharply, ending the week up 27.6% to $11.88. NRG slid 20.9%.
Senad Karaahmetovic and Sam Boughedda contributed to this article.
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