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Altria Group in talks to acquire NJOY for $2.75bn.?
UK's big energy short pays off with ￡1.2bn windfall.
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The US Federal Trade Commission is expected to challenge ICE 's $16bn deal for mortgage software company Black Knight ,?Reuters ?reported.
The FTC has been scrutinizing the Black Knight deal for months amid concerns from some US lawmakers the pricing power ICE would gain in the mortgage data market that lenders rely on could lead to higher costs for consumers.
Black Knight is advised by J.P. 摩根 and Wachtell, Lipton, Rosen & Katz (led by?Edward Herlihy?and? Jacob Kling ). JP Morgan is advised by Cravath, Swaine & Moore LLP (led by?Minh Van Ngo?and? Andrew Wark ). Intercontinental Exchange is advised by 瑞信 , 高盛 , 富国银行 , Morgan, Lewis & Bockius LLP and Shearman & Sterling LLP (led by? Cody Wright ?and? Rory O'Halloran ).
Thoma Bravo , a private equity firm, completed the acquisition of Coupa Software , a cloud platform for business spend management, for $8bn.
"This is an important milestone for Coupa, underscoring our market-leading position and the value we're co-creating with our customer community. Thoma Bravo shares our vision and brings strategic and operational expertise. This move is an opportunity for us to strengthen our business fundamentals and continue delivering leading-edge innovation on our platform," Rob Bernshteyn, Coupa Chairman and CEO.
Coupa Software was advised by Qatalyst Partners (led by? George Boutros ?and? Jeff Chang ), 富而德律师事务所 (led by? Damien Zoubek ?and? Jenny Hochenberg ) and Joele Frank (led by? Matthew Sherman ). Qatalyst Partners was advised by Morrison Foerster (led by? Spencer Klein ). Thoma Bravo was advised by 高盛 , Piper Sandler , Kirkland & Ellis (led by? Cole Parker ,? Peter Stach ?and? Matthew Benedetto ), and FGS Global (led by? Elizabeth Micci ).
Ranger Oil Corporation , a pure-play independent oil and gas company, agreed to acquire a 37% stake in Baytex Energy Corp. , an oil and gas corporation, for $925m.?
"I couldn't be more proud of the Ranger team and the company we've built together. We expect that combining with the balance sheet strength, deep asset base, and operational excellence of Baytex will create a unique company of scale which will deliver sustained free cash flow growth and differentiated shareholder returns. We look forward to bringing together our complementary teams and assets to realize the long-term value of this combination for our shareholders," Darrin Henke, Ranger President and CEO.
Ranger Oil is advised by 美国银行 , 富国银行 , Kirkland & Ellis and Stikeman Elliott LLP .?
Altria Group in talks to acquire NJOY for $2.75bn.?
Marlboro maker Altria is in advanced talks to buy e-cigarette startup NJOY for at least $2.75bn and plans to divest its stake in Juul Labs,?WSJ ?reported.
The deal for NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, could be announced as soon as this week. The proposed deal includes an additional $500m earnout if certain regulatory milestones are met.
UK's big energy short pays off with ￡1.2bn windfall.
The UK government is set to make ￡1.2bn ($1.4bn) from a short position it took in power and natural gas markets after seizing control of collapsed supplier Bulb Energy last year,?Bloomberg ?reported.
When Bulb was in the Special Administration process, Treasury rules prevented the buying of energy in advance to match the amount already sold to the failed utility's 1.5m customers. That set up a short position, and when energy prices fell, the government's position became profitable.?
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