Shareholder group calls for Vera Bradley to consider ‘strategic alternatives’
Fund 1 Investments LLC said Vera Bradley’s board should consider taking the handbag company private or a potential sale, among alternatives.
Mergers & Acquisitions
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Indianapolis-based Loy Instrument acquired by Texas company
Loy Instrument was founded in 1937 and provides process control, combustion, and industrial services for a variety of industries.
Biden will decide on US Steel acquisition after influential panel fails to reach consensus
Nippon Steel of Japan has pledged to invest $2.7 billion in U.S. facilities, including blast furnaces in Gary and in Pennsylvania.
Nissan, Honda to attempt merger that would create world’s No. 3 automaker
The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors Corp. also had agreed to join the talks on integrating their businesses.
Nordstrom to be acquired by Nordstrom family and Mexican retail group for $6.25B
Nordstrom’s board of directors unanimously approved the the proposed transaction, while top executives Erik and Pete Nordstrom—part of the Nordstrom family taking over the company—recused themselves from voting.
Insurance-tech firm Remodel Health raises $100M in growth funding
The firm, which helps employers transition workers to individual health insurance plans, has more than doubled its workforce in the last year and hopes to go on an acquisition spree.
Accounting firm mergers take off in Indiana, with more expected in 2025
As businesses grow in reach and change the way they operate, accounting firms have been forced to change as well. Their conclusion: “We need to get bigger.”
Nissan, Honda confirm talks on closer collaboration but cool merger speculation
Nissan’s share price soared more than 22% after reports citing unnamed sources said it might merge with Honda to form the world’s third-largest automaking group.
Indianapolis courier company acquired by Minnesota logistics firm
Leaders of Indianapolis-based Now Courier expect company growth to continue following the acquisition by Minneapolis-based Priority Courier Experts.
Albertsons gives up on Kroger merger, sues grocery chain for failing to secure deal
Albertsons is accusing Kroger of not doing enough to secure regulatory approval for the $24.6 billion agreement, which would have been the largest grocery store merger in U.S. history.
Nippon Steel clarifies spending pledge in effort to save U.S. deal
Nippon Steel is seeking to allay concerns over job security at plants that use traditional blast-furnace production from iron ore as part of its pending $14.1 billion takeover of U.S. Steel.
Ad agency titans Omnicom, Interpublic to form $30B marketing powerhouse
Omnicom is buying Interpublic Group in a stock-for-stock deal that will create the largest ad agency in the world with combined annual revenue of almost $26 billion.
Old National to acquire Minnesota bank in $1.4B deal
Wall Street appeared to welcome the deal. Shares of Evansville-based Old National were trading at $23.30 shortly after 11 a.m. Monday, up 7.6% from Friday’s closing price.
DirecTV calls off acquisition of rival Dish
DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt.
Jersey Mike’s sandwich chain acquired by private equity firm for $8B
Jersey Mike’s has nearly 30 locations throughout Indiana, including stores in Indianapolis, Noblesville, Carmel, Greenfield, Zionsville, Anderson, Avon, South Bend, West Lafayette, Fort Wayne and Bloomington.
Indiana-based Berry Global acquired by Swiss packaging giant in $8.4B deal
Amcor, the acquirer, said the deal “brings together two highly complementary businesses to create a global leader in consumer packaging solutions.” Berry is one of the state’s largest public companies.
Many dealmakers in Indiana, across nation expect robust 2025
After higher interest rates and a sometimes shaky financial market put a damper on mergers and acquisitions in 2023, Indiana law firms that help facilitate deals are hopeful for a rebound this year.
Cigna confirms it won’t pursue combination with rival Humana
The two health insurance giants, with a combined market value of roughly $125 billion, held talks about a deal last year.
Indianapolis-based KSM acquires New York City-based firm
Katz Sapper & Miller, the largest accounting firm in Indianapolis, has significantly increased its presence in New York City through the acquisition.
OrthoIndy and Indiana Hand to Shoulder Center Combine Orthopedic Practices
Two Indianapolis-based orthopedic medical practices are joining forces, creating a combined operation of more than 100 physicians and 1,200 employees with 22 locations across central Indiana.