Deals of the day: mergers and acquisitions
KKR•BPCE bought a 7% stake in Sabadell, Informa agreed to buy Clarion for £2.24 billion, and CVC and Groupe Bruxelles Lambert raised their Recordati bid to €53 per share. KKR agreed to buy Gen II for $5.1 billion, while McKesson and CD&R are reportedly nearing a deal for Option Care Health valued at more than $5 billion.
1. Stake and acquisitions
France’s BPCE bought a 7% stake in Spain’s Sabadell and plans to be a long-term shareholder. Informa agreed to buy events organiser Clarion for £2.24 billion ($3 billion) and separate its Taylor & Francis academic publishing arm. BP Marsh & Partners acquired a 30% stake in newly formed marine hull underwriting agency Dauntless for a nominal consideration, backed by a £2 million loan facility.
2. Bids and fund services
CVC Capital Partners and Groupe Bruxelles Lambert raised their takeover bid for Italian drugmaker Recordati to €53 per share and extended the offer period. KKR agreed to buy private capital fund administrator Gen II Fund Services in a $5.1 billion deal including debt. McKesson and Clayton Dubilier & Rice are reportedly nearing a deal to acquire Option Care Health for more than $5 billion including debt.
