Dave’s Hot Chicken sold to Subway owner Roark Capital in $1B deal
Indianapolis is home to two Dave’s Hot Chicken restaurants. The brand specializes in Nashville-style hot chicken tenders offered at seven different levels of heat.
Mergers & Acquisitions
Articles
US government to have control in Nippon Steel-U.S. Steel deal, officials say
Combining Nippon Steel—the world’s 4th largest steel producer—and U.S. Steel—the world’s 24th largest—would create the world’s 3rd largest steel producer.
Lilly seeks to expand pain pipeline with $1B acquisition
SiteOne Therapeutics is developing a non-opioid therapy that targets sodium ion channels in the human body to treat pain and sensory hyperexcitability disorders.
Salesforce agrees to buy Informatica in deal worth $8B
The deal could be strategic given the intensifying competition in the market for artificial intelligence-driven databases.
UPDATE: Trump announces ‘planned partnership’ between U.S. Steel and Nippon
The proposed acquisition, first announced in December 2023, was originally blocked by former President Joe Biden.
FTC abandons Biden-era effort to block Microsoft’s acquisition of Activision Blizzard
The tech giant sought to acquire Activision Blizzard, maker of the popular “Call of Duty” video game.
Levi Strauss agrees to sell Casual Friday staple Dockers for up to $391M
While it was not the sole—or very first—creator of dressed-down office looks, Dockers has been widely-credited as an integral part to Casual Friday’s rise, particularly in the 1990s.
Report: Nippon increases investment pledge to $14B if U.S. Steel sale is approved
U.S. Steel first announced plans for the acquisition in December 2023 after another purchase offer from rival Cleveland-Cliffs was rejected.
Drugmaker Regeneron to acquire 23andMe out of bankruptcy
Regeneron will pay $256 million in cash to acquire “substantially all” of 23andMe’s assets, excluding its telehealth business.
Dick’s Sporting Goods to buy struggling shoe chain Foot Locker for $2.4B
Dick’s said Thursday that it expects to run Foot Locker as a standalone unit and keep the Foot Locker brands, which include Kids Foot Locker and Champs Sports.
Plainfield-based logistics company acquired by DHL Supply Chain
Founded in 1960, IDS offers fulfillment services and transportation management, shipping 50,000 packages daily.
Indianapolis-based investment firm Sheaff Brock to be acquired
The acquisition of Sheaff Brock will be California-based Allworth Financial’s third and largest Indianapolis acquisition to date.
Capital One $35B purchase of Discover Financial gets regulatory approvals
The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first announced in February 2024.
Takeover expedites Republic Airways’ IPO goal
Mesa Air Group is a quarter of the size of Republic, but Mesa is publicly traded. Once the deal closes, the combined company will change its ticker symbol from MESA to RJET, continuing to trade on the Nasdaq market.
Tariffs create uncertainty for merger and acquisition activity
The impact of the tariffs also has extended to merger and acquisition activity, with M&A attorneys trying to keep pace with Trump’s starts, stops and pauses.
Meta CEO Zuckerberg defends acquisitions as he wraps up his testimony in antitrust case
Meta CEO Mark Zuckerberg testified in federal court on Wednesday that he bought Instagram and WhatsApp because he saw value in the companies—not to take out competitors, as the FCC alleges.
Trump orders new review of Nippon Steel acquisition of U.S. Steel
In January, former President Joe Biden blocked the proposed $14.9 billion acquisition of Pittsburgh-based U.S. Steel by Nippon Steel in Japan. However, President Donald Trump on Monday ordered a new review of the deal.
UPDATE: Republic Airways takes over troubled Mesa Air Group in all-stock deal
The all-stock deal is expected to close in the late third or early fourth quarter of this year.
Lucas Oil sells Indianapolis-based motorsports TV network
MAVTV has been owned by Lucas Oil Co. since 2011. The network and its new mobile application are expected to broadcast a combined 300 or more live races this year.
Dollar Tree selling Family Dollar to private equity firms for $1B
The acquisition price marks a massive discount compared with how much Dollar Tree Inc. paid to buy Family Dollar in 2015 after a bidding war with rival Dollar General.