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Sports Streamer DAZN explores raising as much as $1bn. (FS)
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Honeywell, a technology and manufacturing company that offers energy, safety, and security solutions and technologies, agreed to acquire the global access solutions business from Carrier, an intelligent climate and energy solutions provider, for $4.95bn.
"Honeywell's strong track record delivering building automation products and services makes this a natural fit that will create a leading security platform with forecasted annual revenue in excess of $bn. By leveraging the capabilities of the combined company's advanced security and safety systems, customers will be able to maximize their performance, efficiency and cost-effectiveness and create long-term, sustainable value," Vimal Kapur, Honeywell CEO.
Honeywell is advised by Evercore, Simmons & Simmons, Skadden Arps Slate Meagher & Flom (led by Allison Schneirov and Alexandra McCormack ) and Womble Bond Dickinson. Carrier is advised by Goldman Sachs, JP Morgan, Linklaters and Paul Weiss Rifkind Wharton & Garrison (led by Laura Turano ).
AMETEK, a provider of industrial technology solutions, completed the acquisition of Paragon Medical, a provider of highly engineered medical components and instruments, from American Securities, a private equity firm, for $1.9bn.
"We are excited to welcome the Paragon team to AMETEK. Paragon's outstanding capabilities and market leadership align seamlessly with AMETEK's commitment to delivering high-performance solutions, further broadening our presence in the attractive MedTech industry," David A. Zapico, AMETEK Chairman and CEO.
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Paragon Medical was advised by Jefferies & Company and Piper Sandler. American Securities was advised by Hunton Andrews Kurth, Weil Gotshal and Manges and Prosek Partners.
General Atlantic, a global growth equity firm, and Dragoneer Investment, a public and private investor, completed the acquisition of Arco Platform, a developer of educational software, for $1.5bn.
The per share merger consideration represents a 55% premium over the closing price of $9.04 per Share on November 30, 2022, the last trading day before the company disclosed receipt of the bidders' proposal to acquire all of the public shares.
Arco Platform was advised by Evercore, Barbosa Mussnich & Aragao, Carey Olsen (led by Alistair Russell ), Davis Polk & Wardwell (led by Manuel Garciadiaz and Cheryl Chan ), Lobo de Rizzo, Maples Group and Skadden Arps Slate Meagher & Flom (led by J. Mathias von Bernuth ). Evercore was advised by Sullivan & Cromwell (led by Stephen Kotran ). General Atlantic was advised by Mattos Filho Veiga Filho Marrey Jr. e Quiroga Advogados, Paul Weiss Rifkind Wharton & Garrison (led by Christopher Cummings) and Walkers. Dragoneer was advised by Ropes & Gray (led by Thomas Holden and Eric Issadore ).
Digital Realy, a provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, and Blackstone, a private equity firm, agreed to form a joint venture, in a $875m deal. Blackstone will acquire an 80% ownership interest in the joint venture for approximately $700m of initial capital contributions, while Digital Realty will maintain a 20% interest.
"By partnering with Blackstone, the world's largest alternative asset manager, Digital Realty is better able to deliver capacity to meet the burgeoning demand of our hyperscale customers, by accessing a deep pool of likeminded private capital. Digital Realty is focused on executing on the sizable opportunity that lies ahead and this partnership helps to accelerate the monetization of nearly 20% of our industry-leading land bank," Andy Power, Digital Realty President and CEO.
Digital Realy is advised by Latham & Watkins. Blackstone is advised by Simpson Thacher & Bartlett (led by Anthony Vernace and Michael Chao ).
Sports Streamer DAZN explores raising as much as $1bn.
DAZN Group, the sports streaming platform backed by billionaire Len Blavatnik, is exploring ways to raise fresh funding as it seeks to accelerate its global expansion, Bloomberg reported.
London-based DAZN has held early conversations with potential advisers about raising capital and could move forward with a process as soon as the coming months. It’s considering raising as much as $1bn.
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