Dealytics Weekly M&A Review

Welcome to the Dealytics weekly review where we list a summary of the top M&A deals, announcements, insights from the prior week.

Edition 19

Top Deals

(December 18, 2023) Nippon Steel Corporation to acquire U.S. Steel Corp for $55.00 per share in an all cash yielding a total deal value of $14.9 billion.

• Goldman Sachs ( Brian Haufrect ) and Evercore ( Roger Altman, Damien Fisher , John Startin , Will Anderson) served as financial advisors to US Steel Corp
• Wachtell, Lipton, Rosen & Katz ( Jonathan Moses, Jenna Levine, Josh Cammaker ) and Milbank LLP ( Drew Wellin , Richard Parker, Christopher Kwan , Manan Shah , James Beebe , Max Goodman, Fiona Schaeffer , Iliana Ongun , Bob Kennedy ) served as legal advisor to US Steel Corp
• Citi ( Ivan Leung, Elio Abou Tayeh ) and Barclays ( Daniel Grabos , Mehmet Ilhan ) served as financial advisors to Nippon Steel Corp
• Fried Frank Harris, Shriver & Jacobson LLP ( Roy Tannenbaum , Philip Richter , Steven Epstein ) and Ropes & Gray LLP ( Samer Musallam , Renata Ferrari , Peter Alpert , Byung Choi , Daniel Ward , Lisa 文琳 Kaltenbrunner , Ama Adams , Andrew O'Connor , Sharon Remmer, Richard Kidd , Jay Kim , Jordan Altman , Faiza Rahman , Ruchit Patel , David Saltzman , Suni Sreepada , Ariel Deckelbaum ) served as legal advisors to Nippon Steel Corp

(December 20, 2023) Aon plc to acquire NFP, an Aon company from a consortium of sellers including HPS Investment Partners, LLC and Madison Dearborn Partners, LLC for $13.4 billion.

• TD Securities , Barclays , Deutsche Bank , Jefferies LLC, Evercore Inc, and Bank of America Merrill Lynch served as financial advisors to NFP Corp.
• Ropes & Gray LLP ( George Raine , Alex Zeltser , Dan Coyne , Brandon Dunn , Jennifer Rikoski Whitney , Pamela Glazier , Matthew Richards ) and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates ( Tracey Chenoweth , David Schwartz , Dwight Yoo , Kenneth Wolff , Gavin White , Kenneth Schwartz , Frederic Depoortere , Jon Hlafter , Joseph Penko , Howard Ellin ) served as legal advisors to NFP Corp.
• UBS Investment Bank ( Scott Lindsay, Eren Tiryakioglu , George Matsuzaki) and Citigroup Inc served as financial advisors to Aon plc
• Cravath, Swaine & Moore LLP ( Eric Hilfers , Keith Hallam , Matthew Morreale , Sasha Rosenthal-Larrea, Jed Zobitz , Lauren Angelilli, Arvind Ravichandran , Margaret T. Segall , Christine Varney, Jin Baek , Craig Arcella , Kelly Smercina , Robert Townsend) and McDermott Will & Emery LLP ( Andrea Best , Michael Byrne ) served as legal advisors to Aon plc
• Paul, Weiss, Rifkind, Wharton & Garrison LLP ( Ian Hazlett , Adam Givertz) served as legal advisor to HPS Investment Partners and Madison Dearborn Partners LLC

(December 22, 2023) Bristol Myers Squibb to acquire neuroscience pharmaceutical company, Karuna Therapeutics , for $330.00 per share cash representing a 53% premium to its previous day closing price totaling a deal value of $12.7 billion.

• Goldman, Sachs & Co ( Marshall Smith, Caitlin Pollak , Peter van der Goes, Jerry Lee ) served as financial advisor to Karuna Therapeutics
• Simpson Thacher & Bartlett LLP ( Andrew Purcell , Preston Miller , Sara Razi , Jakob Rendtorff , Alan M. Klein , Jeannine McSweeney , Lori Lesser , Eric Swedenburg ) served as legal advisor to Karuna Therapeutics
• Citigroup Inc and Gordon Dyal & Co. Advisory Group LP served as financial advisors to Bristol-Myers Squibb Co.
• Covington & Burling LLP ( Drew Fischer , Michael Riella , Catherine Dargan ) served as legal advisor to Bristol-Myers Squibb Co.

(December 21, 2023) Harbour Energy to acquire non-Russian oil and gas assets of Wintershall Dea AG for $11.2 billion.

• Barclays served as financial advisor to Harbour Energy plc
• Clifford Chance LLP ( Sonia Gilbert , Dominik Engl , Simon Thomas , Dimitri Slobodenjuk , Dominik Heß , Nicola Hemsley , Graham Phillips , Michael Lyons , Clare Hoxey , Chinwe Odimba-Chapman , Greg Olsen , Simon Williams, Steven Fox ) served as legal advisor to Harbour Energy plc
• Morgan Stanley and Moelis & Company served as legal advisor to Wintershall Dea AG

(December 18, 2023) A consortium of investors including Insight Partners and Clearlake Capital Group to acquire Alteryx Inc. for $48.25 per share in cash totaling a deal value of $4.4 billion.

• Qatalyst Partners ( George Boutros , Jeff Chang , Karl Anderson ) served as financial advisor to Alteryx Inc.
• Fenwick & West LLP ( Elizabeth Gartland , David Michaels , Michael Pilo , Jonathan Millard , Ran Ben-Tzur , Michael Brown ) and Wilson Sonsini Goodrich & Rosati PC ( Jack Hamilton , Remi Korenblit , Douglas Schnell , Marty Korman ) served as legal advisors to Alteryx Inc.
• Morgan Stanley ( Wally Cheng , Umi Mehta ), JPMorganChase ( Madhu Namburi , Vineet Seth ), Houlihan Lokey ( Todd Carter, Tara Anand Carter , Brian Ierubino , Mark Su , Andy Weinstein ), and Goldman, Sachs & Co.( Charlie Lytle , Jung Min ) served as financial advisors to Insight Partners and Clearlake Capital Group LP
• Willkie Farr & Gallagher LLP ( Erin Kinney , Matthew Guercio ) and Sidley Austin LLP ( Daniel Belke , Mark Castiglia , Mehdi Khodadad ) served as legal advisors to Insight Partners and Clearlake Capital Group LP

(December 18, 2023) Masonite® to acquire PGT Innovations for $41.00 per share of cash and stock totaling a deal value of $3 billion.

• Evercore Inc ( William Anderson, Rohan Shetty , Benjamin Eldredge ) served as financial advisor to PGT Innovations Inc
• Davis Polk & Wardwell LLP ( Shane Tintle , Michael Mollerus , Arthur Burke , Evan Rosen , Kyoko Takahashi Lin , John Amorosi ) served as legal advisor to PGT Innovations Inc
• Jefferies LLC ( Mark Hudson ) served as financial advisor to Masonite International Corp
• Wachtell, Lipton, Rosen & Katz ( Michael Benn , T. Eiko Stange, Ilene Gotts , Elina Tetelbaum , Michael Schobel , Benjamin Roth ) served as legal advisor to Masonite International Corp

(December 18, 2023) IBM to acquire StreamSets Inc and Webmethod from Silver Lake LP for $2.32 billion.

• Cravath, Swaine & Moore LLP ( Matthew Morreale , Len Teti , Jin Baek , Amanda Hines-Gold, Keith Hallam , George Schoen ) served as legal advisor to IBM Corp.
• Hengeler Mueller ( Oliver Rieckers , Christian Hoefs , Jan Bonhage , Oda Christiane Goetzke , Gunther Wagner , Maximilian Schiessl , Martin Ulbrich ) and Simpson Thacher & Bartlett LLP ( Chris Vallance , Lori Lesser , Shahpur Kabraji , Mark Viera , Ben Schaye , Russell Light , Sarah Lindley, Elizabeth Cooper , Andrew Blau , James R. Howe ) served as legal advisors to Silver Lake LP

(December 18, 2023) A consortium of investors including CRH plc and Barro Group Pty Ltd to acquire Adbri for $3.20 per share totaling a deal value of $1.4 billion.

• Barrenjoey Advisory Pty. Ltd. and JPMorganChase served as financial advisors to Adbri Ltd.
• Herbert Smith Freehills served as legal advisors to Adbri Ltd.
• UBS Investment Bank served as financial advisors CRH plc

(December 22, 2023) HG Capital, LLC , a consortium of investors, including General Atlantic LLC, Warburg Pincus LLC; TPG Capital LP to acquire Visma AS from Montagu Private Equity $1.22 billion.

• Morgan Stanley and Arma Partners served as financial advisors to Hg Capital

(December 22, 2023) TFI International Inc. to acquire Daseke Inc. for $8.20 per share in cash totaling $1.1 billion.

• JPMorgan Securities LLC served as financial advisor to Daseke Inc.
• Kirkland & Ellis ( Lanchi Huynh , Stephen Jacobson , Douglas Bacon, David Feirstein , Jennifer Gasser) served as legal advisor to Daseke Inc.
• Scudder Law Firm PC LLO served as legal advisor to TFI International Inc.

(December 19, 2023) Kodiak Gas Services to acquire natural gas and oil production compression company, CSI Compressco LP , for $854 million.

• Jefferies LLC served as financial advisor to CSI Compressco LP
• Vinson & Elkins LLP ( Matthew Dobbins , Sean Becker , Hill Wellford , Ryan Carney , David D'Alessandro , Dave Johnson , David Wicklund , Kara Kuritz , Lande Spottswood , David Palmer Oelman ) served as legal advisor to CSI Compressco LP
• Barclays ( Michael Cormier, Santino Basile , Randy Bennett , Jeremy Michael , Andrew Steinau ) served as financial advisor to Kodiak Gas Services Inc.
• King & Spalding LLP ( Salomé Cisnal de Ugarte , John Green, Hap Shashy , Jeffrey Spigel , Robert Leclerc , Meredith Sheldon O'Leary , Keith Townsend ) served as legal advisor to Kodiak Gas Services Inc.

(December 21, 2023) AAR Corp. to acquire Triumph Group 's product support business for $725 million.

• Bank of America Corp. and Wells Fargo Securities LLC served as financial advisors to AAR Corp.
• Latham & Watkins LLP served as legal advisor to AAR Corp.
• Goldman, Sachs & Co. served as financial advisor to Triumph Group
• Skadden, Arps, Slate, Meagher & Flom LLP ( Michael Zeidel , Tracey Chenoweth , David Schwartz , Thomas Wood , Kenneth Schwartz , Giorgio Motta , Erica Schohn , Bruce Goldner , Marie Gibson ) served as legal advisor to Triumph Group

(December 20, 2023) Orica Ltd to acquire Terra Insights from Vance Street Capital for about $378 million.

• Lazard served as financial advisor to Terra Insights
• Davies Ward Phillips & Vineberg LLP and O'Melveny & Myers LLP served as legal advisors to Terra Insights
• JPMorgan Securities LLC served as financial advisor to Orica Ltd
• Gilbert + Tobin served as legal advisor to Orica Ltd

(December 18, 2023) H.I.G. Capital to acquire ZimVie Inc's spine business for $375 million.

• McDermott Will & Emery LLP served as legal advisor to H.I.G. Capital LLC
• Centerview Partners served as financial advisor to ZimVie Inc
• Cravath, Swaine & Moore LLP ( Len Teti , Sanjay Murti , Kimberley Drexler , Michael Arnold , Margaret T. Segall , Christopher Kelly , Matthew Morreale , Jonathan Katz , Keith Hallam , David Kappos , Robert Townsend) served as legal advisor to ZimVie Inc

(December 19, 2023) BC Partners LLP to acquire Kin + Carta plc for about $303 million.

• Citigroup Inc ( Robert Farrington , David Fudge, Avinash P. ) served as financial advisor to Kin and Carta plc
• Herbert Smith Freehills LLP served as legal advisor to Kin and Carta plc
• Europa Partners served as financial advisor to BC Partners LLP
• Linklaters LLP served as legal advisor to BC Partners LLP