Hillenbrand shares soar after it announces $3.8B acquisition
Hillenbrand Inc., one of Indiana’s largest public companies, is set to become private after being acquired by an investment firm headquartered in Dallas, the company announced Wednesday.
Mergers & Acquisitions
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Wall Street sees major jump in profit, helped by soaring stock prices and dealmaking
Wall Street is having one of its best years in dealmaking in a long time. Initial public offerings are back, with several major companies going public this year.
Krieg DeVault acquires Fort Wayne-based Rothberg Law Firm
Michael Messaglia, managing partner of Krieg DeVault, said combining the firms would strengthen some of Krieg DeVault’s key service areas, including banking, business, employment, health care, real estate, and municipal and estate planning.
Could Indianapolis buy AES Indiana? Experts say it’s unlikely.
A few City-County Council members say Indianapolis should consider keeping AES out of private equity’s hands by acquiring the utility.
Fifth Third Bancorp to buy Comerica for $10.9B in combination of big regional banks
Cincinnati-based Fifth Third is one of the largest banks doing business in the Indianapolis area, with more than $7.2 billion in local deposits, 44 area branches and 348 employees as of June 30, 2024.
UPDATE: Indianapolis-based ag giant Corteva to split into 2 separate companies
Corteva, one of Indiana’s largest publicly traded companies, plans to split its seed and pesticide businesses into two independent, publicly traded companies by the end of 2026.
Electronic Arts to be acquired for $52.5B in largest-ever private equity buyout
If the transaction closes as anticipated, it will end EA’s 36-year history as a publicly traded company.
First Merchants Bank announces merger with Jeffersonville bank
The combined company is expected to continue to do business under the First Merchants Bank brand and would have combined assets of $21 billion.
Pfizer amps up push into obesity treatments with $4.9B deal for Metsera
Demand for obesity treatments has soared recently, due to unprecedented weight loss provided by regular injections of market leaders Wegovy from Novo Nordisk and Zepbound from Indianapolis-based Eli Lilly and Co.
Indianapolis-based WSI Technologies under new ownership
Indianapolis-based The September Group purchased the companies that would eventually create WSI—which offers secure audio and video recording solutions for public safety and child welfare organizations—in 2020.
Carmel-based Splenda maker Heartland Food acquires Slimfast US brand
Slimfast, founded in 1977, is known for its once-popular line of meal-replacement shakes, but the brand has struggled with the emergence of new weight-loss pharmaceuticals.
Potbelly being acquired by gas station chain RaceTrac for $566M
Potbelly, which was founded in Chicago in 1977, has 445 restaurants across the United States, including four locations in the Indianapolis area and seven others statewide.
U.S. Steel to end steel production in Illinois, ‘optimize’ operations in Indiana, Pennsylvania
U.S. Steel will cut production at the Illinois plant, likely in November, but it won’t lay off any of the roughly 800 workers there or reduce their pay, it said.
Musk’s SpaceX spends $17B to acquire spectrum licenses from EchoStar
EchoStar said recent deals will resolve inquiries from the Federal Communications Commission about the rollout of 5G technology.
PNC to expand westward with $4.1B acquisition of FirstBank
PNC has been on an acquisition streak in the last few years to make the bank one of the biggest players in retail banking in the country.
Security products company Allegion on acquisition spree in 2025
Allegion, whose Americas division is based in Carmel, has completed nine acquisitions so far this year—a significant increase from recent years.
Carmel-based SePro acquires California-based AI startup
SePro offers water-quality analysis services and chemicals that address problems such as algae blooms and invasive weeds in surface water sources ranging from backyard ponds to large lakes and reservoirs.
Dealmakers top $1T in M&A in busiest August since 2021
The summer surge shows how dealmakers have continued their strong recovery from what was a disappointing start to the year.
Illinois Street Food Emporium changing ownership
Vivian Farris, who acquired the cafe, bakery and catering business in 2014 from founders Ernie and Sue Kobets, is set to retire after a long career in the food-service business.
Lawrence-based Schneider Geospatial acquires Boston software firm
Lawrence-based software firm Schneider Geospatial, which has more than doubled its employee base over the past three years, just acquired its fifth company since 2022.