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.
Mergers & Acquisitions
Articles
How Lilly wooed Massachusetts biotech with flurry of offers
It was a mating dance that lasted more than three years. At the end, Eli Lilly and Co. wound up buying a Massachusetts-based biotech developing treatments for inflammatory bowel disease for $3.2 billion.
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.
Three Hancock County organizations partner to acquire Elanco’s Greenfield HQ property
Pride Investment Partners, Hancock Health and energy cooperative NineStar Connect collaborated on the purchase of the 20.4-acre site through a joint venture called HealthStar Partners.
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.
Fishers-based metals recycling company agrees to SPAC merger
American Metals LLC, a subsidiary of Fishers-based American Resources Corp., announced plan this week to merge with New York City-based AI Transportation Acquisition Corp. in a move intended to take the Indiana company public.
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.
KSM accounting firm announces Cincinnati acquisition plans
Once the acquisition closes, Cassady Schiller will become Katz, Sapper & Miller’s largest office outside of its Indianapolis headquarters.
BCforward CEO Justin Christian to acquire NYC-area firm in $29M deal
Christian has set up a new special purpose entity that will purchase all of tech staffing firm TSR Inc.’s outstanding stock for $13.40 per share.
Nate Feltman becomes sole owner of IBJ Media
IBJ Media CEO and Publisher Nate Feltman purchased the shares of Indianapolis businessmen Mickey Maurer and Bob Schloss this month.
JetBlue, Spirit end $3.8B merger plan after federal judge blocks deal
Spirit CEO Ted Christie said he was disappointed that the airlines could not combine and create a new challenger to the nation’s four biggest airlines.
Allegion acquires Spanish access-control firm
Allegion, which has its Americas headquarters in Carmel, announced Monday that it has acquired Spain-based Montajes Electronicos Dorcas S.L.
U.S. sues to block $25B merger of grocery giants Kroger and Albertsons
The Federal Trade Commission said the deal would eliminate competition and lead to higher prices for millions of Americans.