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BlackRock unveils climate policies for $150bn in funds. (FS)
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RedBird Capital Partners -backed Skydance New Media , an American production company based in Santa Monica, California, agreed to merge with Paramount Global, a global media, streaming and entertainment company, in an $8bn deal.
"In 1987, my father, Sumner Redstone, acquired Viacom and began assembling and growing the businesses today known as Paramount Global. He had a vision that "content was king" and was always committed to delivering great content for all audiences around the world. That vision has remained at the core of Paramount's success and our accomplishments are a direct result of the incredibly talented, creative, and dedicated individuals who work at the company. Given the changes in the industry, we want to fortify Paramount for the future while ensuring that content remains king. Our hope is that the Skydance transaction will enable Paramount's continued success in this rapidly changing environment. As a longtime production partner to Paramount, Skydance knows Paramount well and has a clear strategic vision and the resources to take it to its next stage of growth. We believe in Paramount and we always will," Shari Redstone, Paramount Global Chair.
Paramount Global is advised by Centerview Partners , Rothschild & Co , Cravath, Swaine & Moore LLP and Simpson Thacher & Bartlett LLP . National Amusements is advised by BDT & MSD Partners , Ropes & Gray LLP and Kekst CNC (led by Molly Morse ). Skydance Media is advised by 美国银行 , Moelis & Company , Redbird Advisors , The Raine Group , Latham & Watkins (led by Justin G. Hamill , Bradley Faris , Ian Nussbaum , Max Schleusener , Rick Offsay , and Liliana Paparelli Ranger ), Gagnier Communications (led by Daniel Gagnier ) and Principal Communications Group (led by Melissa Zukerman). RedBird Capital is advised by Sullivan & Cromwell LLP (led by Alison Ressler and Eric Krautheimer ).
Carlsberg Group , a Danish multinational brewer, agreed to acquire Britvic plc , a British producer of soft drinks, for ￡4.1bn ($5.3bn).
"With this transaction, we are combining Britvic's high-quality soft drinks portfolio with Carlsberg's strong beer portfolio and route-to-market capabilities, creating an enhanced proposition across the UK and markets in Western Europe. The proposed transaction is attractive for shareholders of Carlsberg, supporting our growth ambitions and being immediately earnings accretive and value accretive in year three. We are excited about expanding our global partnership with PepsiCo and believe that the longer-term opportunities will be very beneficial for both companies," Jacob Aarup-Andersen, Carlsberg CEO.
Carlsberg is advised by Nomura (led by Adrian Fisk ), 贝克?麦坚时 , and 博然思维集团 (led by Susan Gilchrist ). Britvic is advised by Europa Partners (led by Jan Skarbek ), 摩根士丹利 (led by Anthony Zammit ), 年利达 , and Headland (led by Stephen Malthouse ).
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Devon Energy , an independent energy company that is involved primarily in oil and gas exploration, agreed to acquire Williston Basin business of Grayson Mill Energy , a Houston-based energy exploration and production company, for $5bn.?
“The acquisition of Grayson Mill is an excellent strategic fit for Devon that allows us to efficiently expand our oil production and operating scale while capturing a meaningful runway of highly economic drilling inventory. This transaction also creates immediate value within our financial framework by delivering sustainable accretion to earnings and free cash flow that will result in higher distributions to shareholders over time,” Rick Muncrief, Devon Energy President and CEO.
Devon Energy is advised by 花旗 and Kirkland & Ellis . Grayson Mill Energy is advised by Jefferies .
礼来 , an American pharmaceutical company headquartered in Indianapolis, agreed to acquire Morphic Therapeutic , a biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, for $3.2bn.
"Morphic has always believed that the immense potential of MORF-057 to benefit patients suffering from IBD could be optimized by the ideal strategic partner. Lilly brings unparalleled resources and commitment to the inflammation and immunology field," Praveen Tipirneni, Morphic CEO.
Morphic is advised by Centerview Partners , Evercore and Fenwick & West . Eli Lilly is advised by 花旗 and Kirkland & Ellis .
BlackRock unveils climate policies for $150bn in funds. (FS)
BlackRock is singling out funds with combined assets of $150bn for an extra screen designed to ensure the investments are aligned with strict climate goals. The world’s largest money manager said the decision affects 83 funds domiciled in Europe, Bloomberg reported.
The strategy, which will be applied to portfolios with stated climate and decarbonization objectives, also may be extended to funds in the US and Asia-Pacific region, as well as separate accounts managed for clients.
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