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M&A Report: Fiat Chrysler, Siemens and Authentic Brands In the News

M&A Report: Fiat Chrysler, Siemens and Authentic Brands In the News

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In keeping with our mission to provide comprehensive advertising analysis, MediaRadar puts together a report of the most important mergers and acquisitions news each week. Stay in the loop, whether you sell advertising space or focus on business development. 

This week, Fiat Chrysler announces a merger with Groupe PSA, Siemens acquires a $1 billion robotics company, and Authentic Brands takes over New York’s pillar of luxury fashion, Barneys. 

Fiat Chrysler Merging with Groupe PSA 

The French automotive manufacturer Groupe PSA has announced a $48 billion merger with Fiat Chrysler, in which the shareholders of each company will take 50 percent ownership over the combined operation. 

The newly joined company is set to be the world’s third-largest automaker with combined revenues of nearly $189 billion and roughly 410,000 employees. 

The joint operation will be headquartered in the current Fiat Chrysler offices in the Netherlands. The merger also predicts an annual savings of $4.11 billion without any plant closures. Fiat Chrysler had made an attempt at a similar merger earlier this year with Renault, another French automaker before it fell apart. 

Siemens Healthineers Acquires Corindus Vascular Robotics

Siemens Healthineers AG, a leader in medical technology, has acquired Corindus Vascular Robotics Inc. for $1.1 billion. 

Corindus is one of the leading companies offering a robotic treatment platform within the major vascular therapeutic markets. 

Corindus will be integrated into Siemens Healthineeers’ Advanced Therapies segment, where Siemens’ image-based, minimally invasive procedures can be complemented by Corindus’ robotic treatment platform. Siemens hopes that through the acquisition they can open up a new field for their existing Advanced Therapies business, while at the same time tapping into a promising future market. 

Barneys New York Being Acquired by Authentic Brands 

Authentic Brands Group seems poised to take over luxury retailer Barneys New York. 

Barneys was headed for a bankruptcy auction, but that was cancelled when Authentic Brands cast the final bid for $271.4 million. 

Before the deal can be made final, Barneys is keeping the door open for a potential out-bid by a third party with hopes that trade show executive Sam Ben-Avraham will increase his offer of $260 million to beat out Authentic Brands. 

The luxury retailer is hesitant to give the reins to ABG because of its lack of retail experience — the company licenses brands (including personal brands like Shaquille O’Neal and Elvis Presley). 

ABG’s plans for licensing Barneys includes growing its presence in international markets, high-fashion collaborations and a licensing deal with Saks Fifth Avenue to become the retail partner for the Barneys brand in the US and Canada. 

In Other News

These are some other notable deals and developments from the past week: 

  • AMETEK, Inc. has acquired Gatan, a leading manufacturer of instrumentation and software products electron microscopes, from Roper Technologies. The deal is valued at $925 million in cash.  
  • Meredith Corporation has acquired Stop, Breathe & Think, a mindfulness app that has achieved over 4.5 million downloads and over 17 million emotional check-ins.
  • Parker Hannifin Corporation has completed its acquisition of LORD Corporation in a deal valued at approximately $3.675 billion in cash. 
  • Brand management company Bluestar Alliance has reached a definitive agreement to buy Nike subsidiary brand Hurley in a deal that is expected to be complete in December. 
  • San Francisco-based real estate company Prologis, Inc. has entered into a definitive agreement to acquire Liberty Property Trust for approximately $12.6 billion in stocks. The merger is expected to close in the first quarter of 2020, subject to the approval of Liberty shareholders.
  • Clayton, Dubilier & Rice announced that it has reached an agreement to acquire network, security and electronic solutions distributor Anixter International Inc. for an all cash deal valued at $3.8 billion, including debt. 
  • Experiential real estate investment trust VICI Properties has announced an agreement with JACK Entertainment LLC to acquire 100% of the membership interests of JACK Cleveland Casino and JACK Thistledown Racino. The deal has an aggregate purchase price of approximately $843.3 million in cash. 
  • According to the Wall Street Journal, French luxury goods group LVMH Moet Hennessy Louis Vuitton has offered an all-cash takeover bid to acquire iconic New York jeweler Tiffany & Co. for about $120 per share, which values Tiffany at $14.5 billion. 

Google owner Alphabet has extended an offer to buy troubled wearable device maker Fitbit, Inc.

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