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Fake $14.7bn Textron takeover bid leads to criminal charge.
Thoma Bravo announces $3.3bn close of Credit Fund II. (FS)
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JetBlue, a major American low-cost airline, offered to acquire Spirit Airlines, an ultra-low-cost carrier, for $7.3bn. JetBlue believes that its offer is superior to the $6.6bn merger agreement between Spirit and Indigo Partners-backed Frontier Airlines, an American ultra-low-cost carrier.
"Customers shouldn't have to choose between a low fare and a great experience, and JetBlue has shown it's possible to have both. When we grow and introduce our unique value proposition onto new routes, legacy carriers lower their fares and customers win with more choice. The combination of JetBlue and Spirit – coupled with the incredible benefits of our Northeast Alliance with American Airlines – would be a game-changer in our ability to deliver superior value on a national scale to customers, crewmembers, communities, and shareholders. The transaction would accelerate our strategic growth and create sustained, long-term value for the stakeholders in both companies," Robin Hayes, JetBlue CEO.
Spirit Airlines is advised by Barclays, Morgan Stanley, Debevoise & Plimpton and Sard Verbinnen & Co. Financial advisors are advised by Skadden Arps Slate Meagher & Flom and Sullivan & Cromwell. JetBlue is advised by Goldman Sachs and Shearman & Sterling. Debt financing is provided by Goldman Sachs. Indigo Partners is advised by Lambert & Co. Frontier Airlines is advised by Citigroup, Latham & Watkins and Joele Frank.
Dave & Buster's, an owner and operator of entertainment and dining venues, agreed to acquire Main Event, a family entertainment company, from Ardent Leisure Group, one of Australia's most successful leisure and entertainment groups, and RedBird Capital Partners, a private investment firm, for $835m.
"On behalf of the entire team at Main Event, we are excited to join the Dave & Buster's family. Together, we will be well-positioned to leverage our collective experience and provide our consumers with a category-defining entertainment experience," Chris Morris, Main Event CEO.
Main Event is advised by Goldman Sachs, JP Morgan and Weil Gotshal and Manges. Dave & Buster's is advised by Deutsche Bank and Kirkland & Ellis. Debt financing is provided by BMO Capital Markets, Deutsche Bank and JP Morgan. Ardent Leisure is advised by Gilbert + Tobin. RedBird Capital is advised by Fried Frank Harris Shriver & Jacobson.
Canada Pension Plan Investment Board, a global investment management organization, led an $805m funding round in VerSe Innovation, a local language technology platform, with participation from Ontario Teachers' Pension Plan Board, Luxor Capital, Sumeru Ventures, Sofina Group and Baillie Gifford.
"India's digital content is experiencing phenomenal growth, and VerSe Innovation is well-positioned to be one of the leaders in the fast-growing short video and local language content space. This investment aligns with our approach of providing strategic capital to industry leaders in India's technology sector. We look forward to supporting the next phase of VerSe Innovation's growth journey, which we believe will deliver strong risk-adjusted returns for the CPP Fund," Frank Su, CPPIB Managing Director, Head of Private Equity Asia.
Fake $14.7bn Textron takeover bid leads to criminal charge.
A supposed $14.7bn?offer to buy defense contractor and aircraft maker Textron?in 2020 has resulted in criminal charges against the would-be acquirer.?
Melville ten Cate, 53, a dual US-Netherlands citizen, was charged with fraud connected to several alleged schemes involving his now-defunct company, Xcalibur Aerospace, including the fake tender offer,?Bloomberg?reported.
Thoma Bravo announces $3.3bn close of Credit Fund II. (FS)
Thoma Bravo, a?software investment firm, announced the completion of fundraising for Thoma Bravo Credit Fund II at $3.3bn in total available capital, including leverage.
“The successful closing of Credit Fund II demonstrates our ability to translate a deep understanding of the evolution of the software industry and broader market into differentiated investment opportunities,” Oliver Thym, Thoma Bravo Partner and Head of the Credit Platform.?
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