The weekly wrap: Bristol-Meyers, Fortis, GI Partners

Target Acquirer Value ($millions) Synopsis Celgene Corp Bristol-Myers Squibb Co 79,266.9 Bristol-Myers Squibb Co definitively agreed to merge with Celgene Corp, a Summit-based biopharmaceutical company, via a stock swap transaction valued at $ 79.267 bil. Bristol-Myers offered 1 common share, $ 50 in cash and 1 contingent value right per Celgene common share. Based on Bristol-Myers’ closing stock price of $ 52.43 on 2 January 2019, the last full trading prior to the announcement, each Celgene share was valued at $ 102.43. Upon completion of the deal, Bristol-Myers and Celgene will respectively own 69% and 31% of the merged entity. CNL Healthcare Properties Inc-Medical Buildings(55) Welltower Inc 1,250.0 Welltower Inc definitively agreed to acquire 55 medical buildings of CNL Healthcare Properties Inc, an Orlando-based real estate investment trust ultimately owned by CNL Financial Group Inc, for $ 1.25 bil. In June 2018, CNL Healthcare Properties announced that it was seeking a buyer for its company. MedEquities Realty Trust Inc Omega Healthcare Investors Inc 326.7 Omega Healthcare Investors Inc definitively agreed to merge with MedEquities Realty Trust Inc (MRT), a Nashville-based lessor of real estate property, for about $ 326.693 mil via a stock swap transaction. The consideration would consist of $ 2 in cash per share or a total of $ 63.681 mil. Omega offered 0.235 shares per MRT stock. Based on Omega’s closing stock price of $ 35.15 on 31 December 2018, the last full trading day prior to the announcement, each MRT share was valued at $ 8.260. Biotest Pharmaceuticals Corp Scranton Enterprises BV 286.0 Scranton Enterprises BV of Netherlands acquired Biotest Pharmaceuticals Corp, a Boca Raton-based in-vitro diagnostic substances manufacturer, for $ 286 mil from Grifols Shared Services North America Inc, ultimately owned by Grifols SA. Concurrently, Scranton acquired Haema AG from Grifols. Promise Healthcare Inc-Facilities Select Medical Corp 63.0 Select Medical Corp, jointly owned by Welsh Carson Anderson & Stowe and Thoma Cressey Bravo Inc, plans to acquire the facilities of the bankrupt Promise Healthcare Inc, a Boca Raton-based hospital operator, for $ 63 mil via an auction. Originally, in November 2018, the bankrupt Promise was seeking a buyer for the company. Highlands Apartment Community Security Properties Inc 16.5 Security Properties Inc acquired Highlands at Red Hawk, a 56-unit, Class-A, garden-style apartment community in Castle Rock, for $ 16.5 mil. Milan Supply Co Franklin Electric Co Inc 5.9 Franklin Electric Co Inc acquired Milan Supply Co, a Mount Pleasant-based wholesaler of plumbing and heating equipment and supplies, for $ 5.9 mil. GML Associates PC Dakota Wealth Management Dakota Wealth Management acquired GML Associates PC, a Boston-based certified accounting firm. Gemini Rosemont Llc-Albuquerque Property Management Operations Duke City Management LLC Duke City Management LLC acquired the Albuquerque property management operations of Gemini Rosemont LLC, a Santa Fe-based lessor of nonresidential buildings. Valkyrie Enterprises Inc Employee Stock Ownership Plan Valkyrie Enterprises Inc ESOP plans to acquire an 80% stake in Valkyrie Enterprises Inc, an Indianapolis-based manufacturer of relays and industrial controls. JRM Construction Holdings LLC Employee Stock Ownership Plan JRM Construction Holdings LLC ESOP acquired a 75% stake in JRM Construction Holdings LLC, a commercial building constructor. Lease Crutcher Lewis Employee Stock Ownership Plan Lease Crutcher Lewis ESOP acquired Lease Crutcher Lewis, a Seattle-based housing constructor. Infinite Packaging Group Inc Fortis Solutions Group LLC Fortis Solutions Group LLC acquired Infinite Packaging Group Inc, a Lewisville-based manufacturer of plastics packaging films and sheets, from Svoboda Capital Partners LLC. Single Digits Inc GI Partners LLP GI Partners LLP acquired Single Digits Inc (SDI), a Bedford-based internet service provider, via a secondary buyout transaction from Bregal Sagemount LLC (BSL), owned by Bregal Investments Inc. Originally, BSL acquired a majority interest in SDI via a primary buyout transaction. Adello Biologics LLC-Assets Kashiv Pharma LLC Kashiv Pharma LLC acquired the assets of Adello Biologics LLC, a Piscataway-based provider of biotechnology research and development services. Altavair LP KKR & Co Inc KKR & Co Inc’s unit KKR & Co LP plans to acquire a 50% stake in Altavair LP, an Issaquah-based special purpose finance company, via a leveraged buyout transaction. E & M Power Motorcar Parts of America Inc Motorcar Parts of America Inc acquired E & M Power, a Binghamton-based electrical equipment manufacturer. Seterus Inc Mr Cooper Group Inc Mr. Cooper Group Inc agreed to acquire Seterus Inc, a Grand Rapids-based provider of financial investment services, for around $ 24 bil. Commonwealth Mortgage LLC New Fed Mortgage Corp New Fed Mortgage Corp plans to acquire Commonwealth Mortgage LLC, a Woburn-based provider of real estate credit services. Celtic Energy Inc NV5 Global Inc NV5 Global Inc acquired Celtic Energy Inc, a Glastonbury-based provider of technical consulting services. Commercial Air Inc Pueblo Mechanical & Controls Inc Pueblo Mechanical & Controls Inc acquired Commercial Air Inc, a Phoenix-based contractor for plumbing, heating and air-conditioning. Trupet LLC Sport Endurance Inc Sport Endurance Inc signed a letter of intent to acquire the remaining stake it does not already own in Trupet LLC, an Oldsmar-based manufacturer of dog and cat foods. Tri-Star Gases LLC Tech Air Of Connecticut Inc CI Capital Investors II LP’s unit Tech Air of Connecticut Inc acquired Tri-Star Gases LLC, an El Monte-based wholesaler of industrial supplies. Guardian Life Insurance Co Of America-Dental Service Organization Western Dental Services Inc New Mountain Finance Corp’s unit Western Dental Services Inc acquired the dental service organization of Guardian Life Insurance Co of America, a New York-based direct life insurance carrier. Howe Riley & Howe PLLC Wipfli LLP Wipfli LLP acquired Howe Riley & Howe PLLC, a Bedford-based certified accounting firm. US M&A Deals Announced December 28, 2018 to January 3, 2019 Source: Thomson Reuters