Dealytics Weekly M&A Review

Welcome to the Dealytics weekly review where we list a summary of the top M&A deals, announcements, insights from the prior week.

Edition 1

1. Tapestry to acquire Capri Holdings Limited for $8.5 billion (Announced: August 10, 2023)
2. The Campbell's Company to acquire Sovos Brands from Advent for $2.7 billion (Announced: August 7, 2023)
3. CD&R to acquire Veritiv for $2.3 billion (Announced: August 7, 2023)
4. KKR to acquire Simon & Schuster for $1.62 billion from Paramount Global (Announced: August 7, 2023)
5. STG PARTNERS LLC to acquire Avid Inc for $1.4 billion (Announced: August 10, 2023)
6. 诺和诺德 to acquire Inversago Pharma for $1.075 billion (Announced: August 10, 2023)

Dealytics has also published its Top M&A Bankers Globally from the First Half of 2023

Deal details below

(August 10, 2023) Tapestry, the conglomerate behind brands like Coach and Kate Spade has agreed to acquire Capri for $57/share, an approximate 59% premium totaling approximately $8.5 billion.

• 摩根士丹利 (Carmen Molinos and Rohit Singh) served as exclusive financial advisor to Tapestry Inc.
• Latham & Watkins ( Leah Sauter , Josh Dubofksy, and Charles Ruck) served as legal advisor to Tapestry Inc.
• Barclays (Brett Pickett, Lowell Strug ) served as exclusive financial advisor to Capri Holding.
• Wachtell, Lipton, Rosen & Katz ( Mark Stagliano , Emily Johnson, Josh Cammaker ) served as exclusive legal advisor to Capri Holding.

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(August 7, 2023) Campbell Soup Company has agreed to acquire Sovos Brands Inc. for $23/share from Advent International Corp. for $2.7 billion to bolster Campbell's Meals & Beverages division.

• Evercore ( Adam Taetle ) served as exclusive financial advisor to Campbell Soup Company.
• Davis Polk & Wardwell LLP ( Travis Triano , John Amorosi ) served as legal advisor to Campbell Soup Company.
• 高盛 & Co (Benjamin Frost, Timothy Ingrassia, Steven Weiss ) and Centerview Partners (Anthony Kim) served as the financial advisor to Capri Holding.
• Hogan Lovells US LLP ( Richard Aftanas , Toa Leung, Richard Climan ) and Richard, Layton & Finger PA (Mark Gentile) served as legal advisors to Capri Holding and Weil, Gotshal & Manges LLP (James Griffin, Ramona Nee ) served as legal advisor to Advent International.

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(August 7, 2023) Private equity company, Clayton, Dubilier & Rice has agreed to acquire Veritiv Corporation, an Atlanta-based packaging company, for $170/share about a 20% premium totaling approximately $2.3 billion.

• Guggenheim Partners and 富国银行 Securities served as lead financial advisors to Clayton, Dubiliar & Rice. 高盛 , RBC Capital Markets LLC, and 瑞银集团 Investment Bank, BMO Capital Markets served as financial advisors for committed Financing for Clayton, Dubiliar & Rice.
• Kirkland & Ellis LLP (Rachael Coffey, John Mason Wilkes , Kevin Mausert , Richard Campbell) and Debevoise & Plimpton LLP ( Steven Slutzky , Scott Selinger ) served as legal advisor to to Clayton, Dubilier & Rice.
• Morgan Stanley (Greg Weinberger, Paul Kwak , Patrick Roman , John Church) served as exclusive financial advisor to Veritiv.
• Alston & Bird LLP ( Paul W. Hespel , Charlie Morgan, Alison LeVasseur , Scott Ortwein ) served legal advisors to Veritiv.

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(August 7, 2023) Private equity company, KKR, has agreed to acquire book publisher Simon & Schuster for $1.62 billion from Paramount Global in an all cash deal.

• Simpson Thacher & Bartlett LLP ( Naveed Anwar , Marni Lerner) served as legal advisor to KKR.
• LionTree ( Ehren Stenzler ) served as exclusive financial advisor to Paramount Global.
• Shearman & Sterling LLP served as legal advisor to Paramount Global.

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(August 10, 2023) Private equity company, STG Partners have agreed to acquire Avid Technologies, a technology provider for the media and entertainment industry, for $27.05/share, a 32% premium, totaling approximately $1.4 billion.

• Rothschild & Co served as financial advisor to STG Partners.
• 普衡律师事务所 LLP ( Lindsay Sparks , Michael Wise , Jane Song , Suzanne Horne , Dan Stellenberg , Charles Patrizia , Steve Camahort ) served as legal advisor to STG Partners.
• 高盛 & Co ( Jason Tofsky , Brian Siebenburgen ) served as exclusive financial advisor to Avid.
• Sidley Austin LLP ( Christopher Gleason , Sven De Knop , Christian Pilhofer , Kelly Dybala , Matthew Johnson , Beth Berg ) served as legal advisor to Avid.

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(August 10, 2023) Producer of the popular weight loss drugs Ozempic and Wegovy, Novo Nordisk, has agreed to acquire Inversago Pharma, producer of drugs to treat obesity and diabetes through its mechanism of blocking CB1 receptors, for $1.075 billion

• Stikeman Elliott LLP ( Sara Zborovski , Mark Firman, Stephanie Weschler , Daniel Borlack) served as legal advisor to Novo Nordisk.
• Centerview Partners LLC ( E. Eric Tokat , Jason Zuckerbrod ) served as exclusive financial advisors to Inversago.
• Osler, Hoskin & Harcourt LLP ( Sophie Amyot , Shahir Guindi Ad. E. ) and Goodwin Proctor LLP ( Robert Dzialo , Michael Bison ) served as legal advisors to Inversago.