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Allianz plans to expand 2024 buyback to as much as €1.5bn. (FS)
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KKR , a global investment firm, offered to acquire 富士ソフト株式会社 , an independent IT solution vendor in Japan, in a $4bn deal.?
“As Japan's IT services industry enters a transformative period of digitalization marked by the expanded use of cloud, IoT, and generative AI, we are pleased to have the opportunity to invest in a market leader in FUJI SOFT. We look forward to leveraging KKR’s global platform and industry expertise in the IT services sector to accelerate FUJI SOFT’s long-term growth and to unlock greater value for Japanese businesses and their customers,” Hiro Hirano, KKR Asia Pacific Deputy Executive Chairman and KKR Japan CEO.
Private equity firms SkyKnight Capital and Dragoneer Investment Group agreed to acquire a majority stake in Simplicity Group , a financial products distribution firm, from Lee Equity Partners, LLC , a private equity firm. Financial terms were not disclosed.
"Simplicity is a best-in-class distributor of financial products that empower and enable American financial independence. We are excited to support the Simplicity partners as they continue to build a truly unique company that is delivering for consumers, retail agents and advisors, employees, and shareholder partners. Further, the investment in Simplicity is a continuation of our commitment to partnering with market-defining businesses with broad-based employee ownership. Finally, we are grateful for the opportunity to partner with Dragoneer for a third time in the Financial Services space," Matthew Ebbel, SkyKnight Capital Managing Partner.
Simplicity Group is advised by Waller Helms Advisors and Dentons Sirote . SkyKnight Capital is advised by Piper Sandler , Morrison Foerster and Ropes & Gray LLP . Dragoneer Investment is advised by FGS Global . Lee Equity is advised by Weil, Gotshal & Manges LLP .
Pharmacosmos Therapeutics Inc. , a pharmaceutical company, agreed to acquire G1 Therapeutics, Inc. , a clinical-stage company developing small-molecule therapies, for $405m.
“G1 and Pharmacosmos have a shared commitment to people living with cancer; the transaction announced today will enable a more rapid uptake of COSELA into the ES-SCLC market to maximize availability for patients who need this important drug. Importantly, this acquisition delivers significant value to G1’s stakeholders by providing better and broader access to this important product for the cancer patients we seek to treat and a significant premium to our shareholders. I am proud of all that the G1 team has accomplished over the years, thankful for their great effort, and excited about what’s possible by the combined Pharmacosmos/G1 team as we meet the needs of more cancer patients," Jack Bailey, G1 Therapeutics CEO.
G1 is advised by Centerview Partners , Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and Ropes & Gray LLP . Pharmacosmos is advised by MTS Health Partners and Arnold & Porter .?
The competition watchdog has ruled that Barratt Developments ’s ￡2.5bn?($3.1bn) deal to purchase rival Redrow raises competition concerns in Shropshire that must be resolved to clear the way for the mega-merger
The Competition and Markets Authority said that both house builders currently hold a high combined share of land in the area centred around the Barratt development at Tilstock Road in Whitchurch with the addition of Redrow’s development at Kingsbourne in Nantwich. It warned if the deal goes ahead, this could lead to higher prices and lower quality homes for homebuyers in this catchment area,?Construction Enquirer ?reported.
“Prospective homebuyers must not be disadvantaged as a result of deals like this one – with the potential loss of competition leading to even higher house prices or lower quality homes. Our initial investigation found concerns specifically in one area in and around Whitchurch, the companies now have the opportunity to agree workable solutions which address our concerns rather than move to a more in-depth investigation,” Joel Bamford, CMA Executive Director for Mergers.
Redrow is advised by Barclays (led by Alisdair Gayne), Peel Hunt (led by Marc Jones ), Slaughter and May (led by Sally Wokes ?and Harry Hecht ) and Instinctif Partners . Barratt is advised by 摩根士丹利 (led by Matthew Jarman ?and Shirav Patel ), 瑞银集团 (led by? Jonathan Retter ?and Joe Hannon ), 年利达 and 博然思维集团 (led by Jonathan Glass ). UBS is advised by Davis Polk & Wardwell LLP (led by Will Pearce ?and Dan Hirschovits ).
Allianz plans to expand 2024 buyback to as much as €1.5bn. (FS)
Allianz , the German insurer that owns bond giant PIMCO , decided to expand this year's share buybacks as Chief Executive Officer Oliver Baete returns more excess cash to investors,?Bloomberg ?reported.
The Munich-based company will repurchase an additional volume of as much as €500m ($546m) in shares, after already completing a buyback of €1bn ($1.09bn) in July. The new repurchases will run through December 31.
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