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BlackRock and Vanguard invest in $6.1bn DEWA listing. (FS)
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KKR, a global investment firm, agreed to acquire Barracuda Networks, a provider of cloud-first security solutions, from Thoma Bravo, a software investment firm, for $4bn.
"We believe that with the support of KKR, we will continue to invest in growth and foster a culture that gives our team the resources and inspiration to continue to create and deliver the next generation of leading cybersecurity solutions for our customers and partners. We are very appreciative of Thoma Bravo's support and very excited to be working with KKR on this next phase of Barracuda's journey," Hatem Naguib, Barracuda CEO.
Barracuda Networks and Thoma Bravo are advised by JP Morgan, Kirkland & Ellis and Finsbury Glover Hering. KKR is advised by Barclays, DBO Partners, Guggenheim Partners and Simpson Thacher & Bartlett.
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Shareholders of Bluerock Residential Growth REIT, a residential REIT, approved the $3.6bn acquisition by The Blackstone Group. The acquisition is currently expected to close in the second quarter of 2022.
"We are pleased that our stockholders have approved this transaction and thank them for their continued support. Today's stockholder approval marks a key step in completing the transaction and delivering on the tremendous value it offers to our stockholders," Ramin Kamfar, Bluerock Residential Growth REIT Chairman and CEO.
Bluerock Residential Growth REIT is advised by Bank of America, Duff & Phelps, Eastdil Secured, Morgan Stanley, Kaplan Voekler Cunningham & Frank, Vinson & Elkins and Wachtell Lipton Rosen & Katz. Financial advisors are advised by Cravath Swaine & Moore. Blackstone is advised by Barclays, Wells Fargo Securities, Simpson Thacher & Bartlett and Joele Frank.
Noble and Maersk Drilling provided an update on the ongoing merger control process for their $3.4bn business combination. The transaction has been unconditionally approved by the competition authorities in Brazil, Norway, and the Republic of Trinidad & Tobago. Accordingly, the only outstanding pre-closing merger control clearances are in Angola and the United Kingdom. The parties expect the competition authority in Angola to unconditionally approve the transaction in April 2022.
"This combination carries strong industry logic. With the combination we are creating a differentiated provider of offshore drilling services, which will be able to enhance the customer experience through increased scale, global reach, and industry-leading innovation. The combination will create value for all shareholders and will offer investors a unique opportunity to benefit from the market recovery, a robust financial position and strong free cash flow potential, all paving the way for the potential return of capital to shareholders," Claus V. Hemmingsen, Maersk Drilling Chairperson.
Maersk Drilling is advised by JP Morgan, Davis Polk & Wardwell and Gorrissen Federspiel. JP Morgan is advised by Cravath Swaine & Moore. Noble is advised by DNB Bank, Ducera Partners, Kirkland & Ellis, Plesner and Travers Smith. Financial advisors are advised by Morrison & Foerster.
GlaxoSmithKline, a science-led global healthcare company, agreed to acquire Sierra Oncology, a late-stage clinical drug development biopharmaceutical company, for $1.9bn.
"Sierra Oncology complements our commercial and medical expertise in haematology. Momelotinib offers a differentiated treatment option that could address the significant unmet medical needs of myelofibrosis patients with anaemia, the major reason patients discontinue treatment. With this proposed acquisition, we have the opportunity to potentially bring meaningful new benefits to patients and further strengthen our portfolio of specialty medicines," Luke Miels, GSK CCO.
GlaxoSmithKline is advised by PJT Partners and Cleary Gottlieb Steen & Hamilton. Sierra Oncology is advised by Lazard and Wilson Sonsini Goodrich & Rosati.
BlackRock and?Vanguard invest in $6.1bn DEWA listing. (FS)
Dubai Electricity & Water Authority’s $6.1bn IPO attracted global investors including BlackRock and Vanguard Group,?Bloomberg?reported.
Dubai’s main utility also drew in Fidelity Investments, Franklin Templeton and?GIC. T. Rowe Price also submitted orders.
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ou can access today’s complete newsletter?here.