Analysis of recent M&A transactions
INTRODUCTION On the 13th of March 2023, Pfizer. Inc announced a definitive agreement to acquire Seagen Inc. for a total enterprise value of approximately $43 billion based on a cash offer price of $229 per share. The deal would benefit from both sides: on one hand it will allow Pfizer to extend their oncology Portfolio … Continue reading Pfizer Inc acquires Seagen Inc in $43 billion deal
Introduction: As of 1st November 2022, Johnson & Johnson announced that it will be acquiring Abiomed, for an enterprise value of approximately $16.6 billion, with $380.00 per share in cash. Existing Abiomed shareholders will also receive up to $35.00 per share in cash under a non-tradeable contingent value right (CVR). As per Joaquin Duato, the … Continue reading Johnson & Johnson acquires cardiovascular technology group in $16.6bn deal
INTRODUCTION Novartis has agreed to sell 53.3 million (approximately 33%) Roche bearer shares in a bilateral transaction to Roche for a total consideration of USD 20.7 billion. Novartis has been a shareholder of Roche since May, 2001 and currently holds 53.3 million bearer shares of Roche’s common stock, representing approximately 33% of aggregate outstanding bearer … Continue reading Novartis sells Roche stake for $20.7 billion
Introduction: On 12 December 2020, AstraZeneca announced a definitive agreement to acquire Alexion Pharmaceuticals, for a value of $39 bn. For each share of Alexion, the shareholders will receive $60 in cash and a little over 2 AstraZeneca American Depositary Shares (ADS), corresponding to half of an ordinary AstraZeneca share. Alexion shareholders will own a 15% share in … Continue reading AstraZeneca’s Alexion $39bn takeover
Introduction: On October 5th, Bristol Myers Squibb announced a definitive agreement to acquire MyoKardia for $225 per share, totaling the deal value to approximately $13.1bn in cash. The transaction was unanimously approved by the Boards of Directors of both companies and was successfully completed on November 17th. With the completion of the acquisition, MyoKardia was … Continue reading Bristol Myers Squibb acquires MyoKardia, expanding its cardiovascular portfolio
Introduction: On August 2nd, Siemens Healthineers announced a definitive agreement to acquire all shares of Varian Medical Systems for $177.5 per share, which corresponds to a purchase price of approximately $16.4bn in cash. This transaction builds on the long-standing collaboration between Siemens Healthineers and Varian to develop improved cancer therapy solutions. Since 2012, they have been working together successfully … Continue reading Siemens Healthineers’ acquisition of Varian Medical Systems for $16.4bn
On February 13th, Johnson & Johnson announced it entered in a definitive agreement to acquire Silicon Valley surgical robotics company Auris Health for $3.4 billion in cash. The deal is considered to be one of the 10 largest venture-backed private deals and highlights J&J's efforts to become a global leader in surgical robotics. Companies Overview … Continue reading Johnson & Johnson paves its way into Robotic Surgery field
Companies overview Elliott Management Elliott Management Corporation is an activist hedge fund and manages two multi-strategy investment funds which combined have approximately $35 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds' investors … Continue reading Elliott and Veritas acquire Athenahealth in a $5.7 billion deal
On December 3rd, 2017 CVS Health Corporation announced its intention to acquire Aetna Inc. in a cash-stock deal for $69 billion, in what will be the largest corporate deal in 2017 so far. The Wall Street Journal reported that the two companies have been in talks since late October. CVS’ stock dropped more than 4.6% … Continue reading CVS Acquires Aetna in the Largest American Healthcare Insurance Deal of All Time
Bocconi Students M&A Circle 
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