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Vitamin Shoppe owner Franchise Group received unsolicited proposal.
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Ritchie Bros, a global asset management and disposition company, completed the acquisition of IAA, a global digital marketplace connecting vehicle buyers and sellers, for $7.3bn.
"The closing of the IAA acquisition represents the beginning of an exciting new chapter for Ritchie Bros. as we expect the combination of our businesses to drive long-term, profitable growth and significant, sustainable shareholder value creation. With IAA, we will accelerate our transformation into a premier digital marketplace and expand into an attractive, adjacent vertical, broadening our global footprint. Our combined yard footprint, marketplace infrastructure and comprehensive suite of innovative solutions will allow us to serve customers more effectively and efficiently than ever before," Ann Fandozzi, Ritchie Bros CEO.
IAA was advised by J.P. 摩根 , Latham & Watkins (led by Bradley Faris and Christopher Drewry ), Blake, Cassels & Graydon LLP , Cooley LLP (led by Ian Nussbaum?and? Jamie Leigh ) and ICR (led by? Farah Soi ). JP Morgan was advised by Simpson Thacher & Bartlett LLP (led by? Caroline Bergman Gottschalk ?and? Jakob Rendtorff ). Ritchie was advised by Evercore , 高盛 , Guggenheim Partners , RBC , Dorsey & Whitney LLP (led by? Michael Mills ?and? Christopher Doerksen ), Goodwin (led by? Stuart Cable ,? Lisa Haddad ?and? Mark Opper ), McCarthy Tétrault (led by? David Frost ?and? Shea Small ), Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by? Gregg Noel ) and Joele Frank (led by? Daniel Katcher ?and? Joele Frank ). Financial advisors were advised by 富而德律师事务所 (led by? Paul Tiger ).
Liberty Global , a British-Dutch-American multinational telecommunications company, agreed to acquire the remaining 37.7% stake in Telenet , a provider of cable broadband services, for €904m ($969m).
"We believe an offer of €22 ($23.6) per share provides a good opportunity for Telenet shareholders to monetize their investment at an attractive premium. We welcome the unanimous decision of Telenet's board of directors to support and recommend this offer. We are proud of how Telenet has evolved in recent years, and we are fully committed to Belgium and all the company's stakeholders," Mike Fries, Liberty Global CEO.
Telenet Group is advised by? 高盛 , Lazard ,? 贝克?麦坚时 and 富而德律师事务所 . Liberty Global is advised by 法国巴黎银行 , J.P. 摩根 , LionTree , Allen & Overy , Ropes & Gray LLP and Shearman & Sterling LLP (led by? Daniel Litowitz ,? George Casey ?and?Simon Burrow).
Knight-Swift Transportation , a freight transportation company, agreed to acquire US?Xpress Enterprises, a truckload carrier, for $808m.
"The opportunity to add one of the largest and most well-known brands in our industry, with significant opportunity to improve earnings, gain customers and reach more professional drivers, was very compelling to us. We expect to apply the same playbook that proved successful in the Knight-Swift merger as we share best practices, improve operations and work together to help U.S. Xpress become the best that it can be," Dave Jackson Knight-Swift CEO.?
US?Xpress is advised by J.P. 摩根 , Holland & Hart LLP and King & Spalding . Knight-Swift is advised by Fried Frank and Scudder Law Firm .
Wyloo Metals , a mining company, agreed to acquire the remaining 80% stake in Mincor Resources NL , a company focused on re-establishing nickel production, for $407m.
"Wyloo is providing an immediate opportunity for all Mincor shareholders who wish to dispose of their holdings to do so at a significant premium to Mincor's last closing price. Wyloo's Offer is unconditional; shareholders can sell into Wyloo's on-market bid today and receive certain cash value for their Mincor shares," Luca Giacovazzi, Wyloo Metals CEO.
Wyloo Metals is advised by 美国银行 and Clayton Utz .
Vitamin Shoppe owner Franchise Group received unsolicited proposal.
The Vitamin Shoppe owner Franchise Group had received an unsolicited proposal to buy the company at $30 per share in cash.
The offer represents a near 32% premium to the stock's last close and values the company at about $1.05bn. Shares rose about 9% to $24.85. They have halved in the past 15 months due to weakening demand in the face of still-high inflation.
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