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Novo Nordisk to acquire a hypertension drug for $1.3bn.
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Searchlight, a global private investment firm, and BCI, one of the largest institutional investors in Canada, agreed to acquire the remaining stake in Consolidated Communications, an American broadband and business communications provider, for $2bn.
"We believe this transaction provides substantial value for our shareholders while also enhancing our flexibility to continue the execution of our fiber expansion strategy. We have been operating in a shifting economic environment over the course of this past year, resulting in higher operating costs and a challenging market for attractive financing options. While we are pleased with how we have managed the business despite these headwinds, several factors recently necessitated that we delay our estimated fiber build completion beyond 2026. As we navigate this environment, we will have increased flexibility as a private company and Searchlight will continue to be an outstanding partner as we advance our transformation to a leading fiber-first provider. We believe this continued partnership will create an outstanding outcome for the Company, our customers and our employees," Bob Udell, Consolidated Communications President and CEO.
Consolidated Communications is advised by Rothschild & Co, Cravath Swaine & Moore and Latham & Watkins (led by Ryan Maierson, Ryan Lynch, and David Miller). Searchlight is advised by Goldman Sachs, JP Morgan, Mizuho Securities, Morgan Stanley, RBC Capital Markets, TD Securities, Wells Fargo Securities and Wachtell Lipton Rosen & Katz (led by Steven A. Cohen and Victor Goldfeld). BCI is advised by Weil Gotshal and Manges.
Czechoslovak Group, a Czech industrial-technological holding company, agreed to acquire the Sporting Products business of Vista Outdoor, an American designer, manufacturer, and marketer of outdoor sports and recreation products, for $1.91bn.
"This is an important strategic step for our company in creating value through separating our Outdoor Products and Sporting Products segments. The previously announced plan to separate our businesses has positioned us to execute seamlessly on this transaction, which we believe is the best path to maximize value for our stockholders, while better positioning Sporting Products and Outdoor Products for future success," Gary McArthur, Vista Outdoor Interim CEO.
Czechoslovak Group is advised by JP Morgan and Clifford Chance. Vista Outdoor is advised by Moelis & Co, Morgan Stanley, Cravath Swaine & Moore and Gibson Dunn & Crutcher.
Blue Wolf, a private equity firm, and Stonepeak, an investment firm, agreed to acquire , a container cargo handling company, for $1.2bn.?
"Since my father started this business more than 70 years ago, we have grown into industry leaders," Madeleine Paquin, LOGISTEC President and Chief Executive Officer.
Blue Wolf is advised by Rothschild & Co, McCarthy Tetrault, and Willkie Farr & Gallagher. LOGISTEC is advised by TD Securities, Fasken, and K&L Gates.?
Tourmaline Oil, a Canadian energy company engaged in the exploration, development, and extraction of crude oil and natural gas, agreed to acquire , an intermediate, dividend-paying Canadian oil and natural gas producer, for $1.06bn.?
Bonavista is the ninth largest natural gas liquids weighted producer in Western Canada and has assets in the Deep Basin which straddles the provinces of Alberta and British Columbia.
Bonavista is advised by Perella Weinberg Partners. Tourmaline Oil is advised by Peters & Co.?
Novo Nordisk to acquire a hypertension drug for $1.3bn.
Novo Nordisk, a Danish multinational pharmaceutical company, agreed to buy ocedurenone, a drug for uncontrolled hypertension with potential application in cardiovascular and kidney disease, from KBP Biosciences for up to $1.3bn, Reuters reported.
"This deal is closely aligned with our strategic focus on expanding from our core in diabetes into other serious chronic diseases, including through novel drug modalities," Novo Nordisk.
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