Intellizence highlights the Merger & Acquisition Deals trends for April 2022 in the most active sectors – technology, healthcare, banking & financial services, energy, and manufacturing.
Largest M&A Deals in May 2022
The top ten largest merger and acquisition deals across sectors were:
Acquiring Company Acquired Company Deal
Broadcom VMware $61 Billion
Intercontinental Exchange Black Knight $ 13.1 Billion
Pfizer Biohaven $ 11.6 Billion
DigitalBridge Investment Management & IFM Switch $11 Billion
Brookfield Asset Management HomeServe $5.04 Billion
e& (9% Stake) Vodafone $4.04 Billion
Carlyle Group CG ManTech International $4.02 Billion
Clayton, Dubilier & Rice and TPG Covetrus $4 Billion
Brookfield Asset Management Watermark Lodging Trust $3.8 Billion
MaxLinear Silicon Motion Technology Corp $3.8 Billion
Major Sector-wise Merger and Acquisition Deals:
Banking, Private Equity & Financial Services
- Private-equity firm KKR has agreed to buy London-listed power generation company ContourGlobal for 1.75 billion pounds ($2.16 billion).
- Private equity firm Carlyle Group has acquired specialty insurance provider NSM Insurance Group from White Mountains Insurance Group Ltd. for $1.78 billion.
- Global Infrastructure Partners has acquired clean energy company Atlas Renewable to bolster its presence in Latin America.
- Brookline Bancorp, has acquired PCSB Financial Corporation for $313 million.
- Pharmacy benefit manager Prime Therapeutics LLC (Prime) has acquired Magellan Health, pharmacy business, Magellan Rx Management, for approximately $1.35 billion.
- Emergent BioSolutions has acquired Chimerix’s exclusive worldwide rights to TEMBEXA, the first antivir FDA for the treatment of smallpox, for $225 million.
- CONMED Corporation has acquired In2Bones Global, for $145 million at closing and up to an additional $110 million in growth-based earnout payments.
- Shopify has acquired shipping logistics startup Deliverr for $2.1 billion.
- The South American retailer Cencosud, has acquired 67% stake in The Fresh Market Holdings, for $676 million.
- Indian food delivery giant Swiggy has acquired Dineout for $200 million.
- GrubMarket has acquired Texas-based Spring Valley and its affiliate, Nogales, Arizona-based Produce Connection.
- Checkout.com has acquired identity verification startup Ubble.
- Parsons Corporation has acquired Xator Corporation in a transaction valued at $400 million.
- Telefónica Tech has acquired BE-terna, an European Microsoft Cloud solutions provider, for up to €350 million.
- Nexi, the Italian payments company, has bought Germany’s Orderbird for $140-150 million to expand its SMB strategy.
Top Five SPAC Mergers Deals in May 2022
SPACs have become more mainstream on wall street today. So far, several companies have gone public either through an IPO, direct listing, or SPAC in 2022.
- ECARX to go public in a $3.82 billion merger with COVA Acquisition Corp.
- Surf Air Mobility to go public via a $1.42 billion merger with Tuscan Holdings Corp. II, accelerating the rollout of industry-leading hybrid-electric aircraft
- Grey Rock Investment Partners, an investment firm, and Executive Network Partnering Corporation, a special purpose acquisition entity, have entered into a definitive agreement to complete a $1.3 billion business combination, forming a publicly traded Granite Ridge Resources.
- Amprius Technologies, the leader in lithium-ion batteries with its Si Nanowire Anode Platform, enter a $939 million merger agreement with Kensington Capital Acquisition Corp. IV, a special purpose acquisition company.
- Grindr, the #1 social network for the LGBTQ+ community, will merge with Tiga Acquisition Corp., a special purpose acquisition company. The combined company will be named Grindr Inc post completion of the transaction.
- First Century Bancorp has terminated the agreement and plan of merger with First Internet Bancorp, the parent company of First Internet Bank.
Major M&A Deals that got Regulatory Approval
- Fulton Financial Corporation has received regulatory approvals for the acquisition of Prudential Bancorp.
- Cartesian Growth Corporation has received required Regulatory and Governmental Pre-Closing Approvals for the proposed business combination with Tiedemann Group and Alvarium Investments.