Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

Hawaiian acquired by Alaska Air, AbbVie boasters portfolio: 4 big deal reports

Published Dec 08, 2023 08:37AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
HA
-0.50%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ALK
-2.46%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
HON
-0.72%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LYB
-0.47%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ABBV
+0.40%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CARR
-0.41%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com — Here is your Pro Recap of 4 head-turning deal dispatches you may have missed this week: deals at Hawaiian and Alaska Air , AbbVie and Cerevel, Carrier Global selling security unit to Honeywell, and LyondellBasell Industries selling its Ethylene Oxide & Derivatives unit to INEOS Oxide.

Unlock the potential of InvestingPro for up to 60% off this Cyber Monday Extended and never miss out on a market winner again.

Hawaiian stock jumps following Alaska Air acquisition announcement

Shares of Hawaiian (NASDAQ:HA) experienced a significant surge on Monday, rising more than 192%, following the news that Alaska Air (NYSE:ALK) intends to acquire the airline for a total of $1.9 billion. The proposed deal includes a cash payment of $18 per share by Alaska Air, factoring in Hawaiian Airlines' existing net debt of $0.9 billion.

The companies foresee potential synergies from the acquisition, estimating a conservative figure of around $235 million in run-rate synergies. The completion of this acquisition is expected within the next 12 to 18 months.

Analysts highlighted the strategic rationale of the deal, emphasizing that it provides Alaska Air with international exposure and access to the Oneworld airline alliance. Despite the perceived benefits, analysts also cautioned that the deal may encounter regulatory resistance, citing the opposition faced by JetBlue's proposed merger with Spirit Airlines (NYSE:SAVE).

As a result, shares in Alaska Air dropped more than 14% on Monday.

AbbVie to acquire Cerevel for $8.7 billion

AbbVie (NYSE:ABBV) announced it will acquire Cerevel Therapeutics (NASDAQ:CERE), a move that will significantly bolster AbbVie's presence in the neuroscience sector. This acquisition will see AbbVie taking over Cerevel's extensive pipeline, which includes a variety of clinical-stage and preclinical neuroscience candidates.

Under the terms of the acquisition, AbbVie plans to buy all outstanding shares of Cerevel for $45.00 per share in cash, valuing Cerevel at approximately $8.7 billion in total equity.

"Our existing neuroscience portfolio and our combined pipeline with Cerevel represents a significant growth opportunity well into the next decade," said AbbVie CEO Richard Gonzalez.

The boards of directors of both entities have endorsed the deal. It is anticipated to conclude by mid-2024 pending approval from Cerevel's shareholders, regulatory clearances, and meeting other standard closing prerequisites.

Following this announcement, Cerevel's shares saw a notable increase, rising over 11% on Thursday.

cyber monday

Carrier Global shares surge after deal to sell security unit to Honeywell for $4.95B

Honeywell International (NASDAQ:HON) today announced its acquisition of the Global Access Solutions business of Carrier Global (NYSE:CARR) in an all-cash transaction valued at $4.95B.

Following this announcement, Carrier's shares experienced a notable rise of nearly 6% while Honeywell fell more than 2% pre-market today.

This strategic move is expected to be immediately accretive to Honeywell's cash-EPS in the first full year of ownership, contributing to growth, gross margins, and operating margins.

LyondellBasell Industries to sell its Ethylene Oxide & Derivatives unit for $700M

LyondellBasell Industries (NYSE:LYB) today announced it has agreed to sell its Ethylene Oxide & Derivatives (EO&D) business along with the production facility located in Bayport, Texas to INEOS Oxide. The agreed-upon sale price for this transaction is set at $700M.

The transaction is expected to close in the second quarter of 2024 following the completion of the planned maintenance at the facility and is subject to regulatory and other customary closing conditions.

Missed out on Black Friday? No problem, we've got you covered for Cyber Monday Extended at InvestingPro! There's still time to enjoy generous discounts. Elevate your market research with faster data, giving you the edge you need. Don't let this opportunity pass—act now and make your market insights even more powerful.

cyber monday

Hawaiian acquired by Alaska Air, AbbVie boasters portfolio: 4 big deal reports
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email