In our last monthly report, we saw another $34 billion in closed mergers and acquisitions, bringing the year’s total to roughly $160 billion across more than 380 deals.
Going forward, MediaRadar’s advertising mergers and acquisitions posts will be weekly. But first, we need to recap the month of May to-date. Let’s take a look at the completed and announced mergers and acquisitions, as well as some rumors and updates in the advertiser and brand space in the month of May.
Completed Deals
These deals have gone through all necessary steps and have been completed.
Meredith Xcelerated Marketing Acquired by Accenture Interactive
Meredith Xcelerated Marketing, a digital and customer relationship marketing agency previously owned by Meredith Corporation, has been acquired by Accenture Interactive (NYSE: ACN). The acquisition, which will significantly bolster Accenture’s marketing capabilities and content strategy operations, is the latest acquisition by the consulting firm as it seeks to better compete with traditional agencies. Accenture has previously acquired several European agencies.
(More details on Business Wire and AgencySpy)
Akron Beacon Journal Acquired by Gatehouse Media, Inc.
New Media Investment Group Inc., through its publishing arm, GateHouse Media, has completed its acquisition of the Akron Beacon Journal, along with Ohio.com from Black Press, Ltd. for $16 million. With the addition of the Akron Beacon Journal, GateHouse now owns more than 140 daily newspaper.
(More details on BusinessWire and Ohio.com)
Ainsworth Pet Nutrition, Inc. Acquired by The J.M. Smucker Co.
The J. M. Smucker Company (NYSE: SJM) has acquired Ainsworth Pet Nutrition for approximately $1.7 billion. The acquisition is the latest move in Smucker’s efforts to bolster both the current scope and prospective growth of their pet food and pet snacks business. The company previously acquired Big Heart Pet Brands in March 2015.
(More details on PR Newswire)
Bravo Brio Restaurant Group Inc. Acquired by Spice Private Equity Ltd.
Bravo Brio Restaurant Group, Inc., parent company of several Italian restaurant chains, has been acquired by Spice Private Equity for approximately $100 million. Following the deal, shares of Bravo Brio will cease trading on the NASDAQ as the company goes private.
(More details on GlobeNewswire)
Announced Deals
These deals have been announced, but are still subject to varying levels of approval. While it is likely they will eventually close, there is a chance they may be called off or altered.
Glassdoor Acquired by Recruit Holdings for $1.2 Billion
The jobs and salary website Glassdoor, Inc. announced that it has agreed to be acquired by a Japanese-based recruiting company, Recruit Holdings Co., Ltd. for $1.2 billion. CEO and co-founder Robert Hohman will continue to lead the company, as Glassdoor will operate independently as a member of Recruit Holdings.
(More details on Fortune)
Walmart and Flipkart Agree on Previously Rumored Deal
As previously reported in the April M&A report, Walmart Inc. (NYSE: WMT) has agreed to buy a 77% stake in Flipkart, an Indian e-commerce company, for $16 billion. Walmart entered the Indian market in 2007 through a joint venture and hopes this acquisition will make the company more competitive in the e-commerce market against rival Amazon’s (NASDAQ: AMZN) 27% market share.
(More details on Reuters)
Sivantos Pte. Ltd. Merging with Widex A/S
Germany’s Sivantos Pte Ltd. and Denmark’s Widex A/S recently announced that they are merging to form the world’s third largest hearing aid maker behind Sonova and William Demant. The combined company is expected to generate annual sales of $1.89 billion with a market valuation of over $8 billion.
(More details on Business Standard)
Xerox Corp. Abandons Merger with Fujifilm Corporation
Xerox Corp. (NYSE: XRX) has ended its pursuit of a merger with FujiFilm. Instead, the global document management company has reached an agreement with two of its top shareholders to replace the CEO of the company, as well as the board of directors.
(More details on Democrat & Chronicle)
Aspire Health being Acquired by Anthem, Inc.
American health insurance company Anthem, Inc. (NYSE: ANTM) is acquiring Aspire Health, a healthcare company specializing in palliative care. The acquisition will help Anthem enhance its medical care business, making it increasingly innovative and unique in combination with their other clinical care assets, which include Blue Cross and Blue Shield plans in 14 states.
(More details on Business Wire)
Home Chef being Acquired by The Kroger Co.
Kroger Co. (NYSE: KR), the nation’s largest supermarket chain announced that it is acquiring Chicago-based meal kit company Home Chef for $200 million. After the completion of the deal, Home Chef will integrate its products into Kroger, while also maintaining its online business as a subsidiary of Kroger.
(More details on TheSpoon)
Fanduel Limited being Acquired by Paddy Power Betfair plc
British bookmaking firm Paddy Power Betfair has announced that it will merge its U.S. asset with fantasy sports league company FanDuel. Paddy Power Betfair will provide $158 million in cash in exchange for a 61% ownership in the combined entity, which could be valued at more than $1 billion.
(More details on Fortune)
Rumors
These deals are rumored to be in the works although nothing has been finalized or officially announced by the parties involved. They may or may not ever materialize.
Comcast Corporation Bidding On Twenty-First Century Fox, Inc.
Comcast (NASDAQ: CMCSA) is keeping a close eye on the pending AT&T acquisition of Time Warner and, if it goes through, is preparing a $60 billion hostile bid for the entertainment assets of 21st Century Fox (NASDAQ: FOXA) including a controlling stake in Hulu.
The bid would put Comcast in direct competition with Disney which previously agreed to purchase Fox for $52.4 billion. Fox had previously rejected a similar bid from Comcast because of regulatory concerns. However, those concerns could ease if a federal judge rules that the AT&T deal for Time Warner is allowed to go through. That trial ended April 30th and a ruling is expected June 12th.
(More details on arstechnica and CNBC)
Elliott Management Makes Unsolicited Bid for AthenaHealth, Inc.
Elliott Management has made an all-cash unsolicited bid of $6.9 billion for healthcare software producer AthenaHealth, Inc. (NASDAQ: ATHN). Prior to the current bid, Elliott owned a 9% stake in AthenaHealth. The current offer comes as part of a decisive effort to compel AthenaHealth to make operational and strategic adjustments that have been unattainable while the company has been public.
(More details on The New York Times)
