Intellizence highlights the Merger & Acquisition Deals trends for October 2022 in the most active sectors – technology, healthcare, banking & financial services, energy, and manufacturing.
Largest M&A Deals in October 2022
The top ten largest merger and acquisition deals across sectors were:
Acquiring Company Acquired Company Deal
Kroger Albertsons (Merger) $24.6 Billion
Blackstone Emerson’s Climate Technologies Business $14.4 Billion
RWE Con Edison’s Clean Energy Businesses $6.8 Billion
Regal Rexnord Altra Industrial Motion $4.95 Billion
Vista Equity Partners KnowBe4 $4.6 Billion
bp Archaea Energy $4.1 Billion
Marathon Oil Ensign Natural Resources (Assets) $3 Billion
Thermo Fisher Scientific The Binding Site Group $2.6 Billion
Kismet Avito (Prosus Russian classifieds business) $2.4 Billion
Thoma Bravo ForgeRock $2.3 Billion
Major Sector-wise Merger and Acquisition Deals:
Banking, Private Equity & Financial Services
- UserTesting is to be acquired by Thoma Bravo and Sunstone Partners for $1.3 billion.
- Mizuho Financial Group’s securities unit will acquire a 19.99% stake in Rakuten Securities for $552 million to beef up its online brokerage business.
- WAG Payment Solutions to acquire Grupa Inelo SA, a fleet management solutions and work time management provider in Poland and Slovenia, for up to €306 million.
- Peoples Bancorp will acquire, in an all-stock merger, Limestone, a bank holding company, in a transaction valued at approximately $208.2 million.
- Sumitovant Biopharma Ltd., in conjunction with parent company Sumitomo Pharma Co., will acquire Myovant for $2.9 billion.
- Eli Lilly to acquire Akouos to discover and develop treatments for hearing loss. For $487 million.
- Medical Properties Trust to sell three Connecticut hospitals to Prospect Medical Holdings for a total sale price of $457 million.
- Walgreens Boots Alliance accelerates the full acquisition of CareCentrix for $392 million.
- TELUS International to acquire WillowTree, a full-service digital product provider focused on end-user experiences, for a total enterprise value of $1.225 billion.
- Teleperformance, the outsourced customer, citizen experience management, and related digital services, has acquired PSG Global Solutions for $300 million.
- Alphawave IP has acquired optical DSP chip developer Banias Labs for $240 million.
- Google has acquired Twitter-backed AI avatar startup Alter for $100 million.
Top Five SPAC Mergers Deals in October 2022
SPACs have become more mainstream on wall street today. So far, several companies have gone public through an IPO, direct listing, or SPAC in 2022.
- Movella, a global leader in the digitization of movement, to become publicly traded on Nasdaq via a business combination with Pathfinder Acquisition Corporation.
- American Oncology Network to become a publicly traded company via a merger with Digital Transformation Opportunities Corp., a special purpose acquisition company focused on the healthcare industry.
- Zoomcar, the World’s largest emerging market-focused car-sharing platform, is to be publicly listed through a merger with Innovative International Acquisition Corp., a SPAC.
- Molecular diagnostics firm DiaCarta to go public on the New York Stock Exchange through a merger with publicly traded special purpose acquisition company (SPAC) HH&L Acquisition.
- Estrella Biopharma, a biopharmaceutical company, to become a publicly traded company via a merger with SPAC TradeUP Acquisition Corp.
- Verano Holdings Corp., a multi-state cannabis company, has terminated the arrangement agreement to acquire Goodness Growth Holdings.
- G Squared and Transfix mutually agree to terminate the business combination agreement.
Major M&A Deals that got Regulatory Approval
- OCC approval was received for the merger of New York Community Bank and Flagstar Bank.
- U.S. Bancorp has received full regulatory approval to acquire MUFG Union Bank.