Deals of the day: Mergers and acquisitions
SBUX•The roundup includes Steris’s $2.1 billion deal for Xodus Medical, IonQ’s deal valued at up to $1.3 billion for Elisity, and advanced talks to take Bumble private at roughly $1 billion. Starbucks said it is not buying Chipotle.
1. Deals and talks
Starbucks said it is not buying Chipotle Mexican Grill, quashing talk of a potential deal. Steris will buy privately held Xodus Medical for $2.1 billion, while IonQ said it would buy cybersecurity firm Elisity in an all-stock deal valued at up to $1.3 billion. Bumble is in advanced talks to be taken private by Ithaca Holdings in a deal valuing the dating app operator at roughly $1 billion, a source familiar with the matter said.
2. Other reported activity
EU antitrust investigators opened an investigation into XXXLutz’s proposed acquisition of Porta. Monte dei Paschi di Siena said Intesa Sanpaolo’s sweetened takeover offer leaves its investors exposed to uncertainties. Shareholders in INWIT are arranging financing for a potential take-private deal. Amazon was reportedly in talks to acquire AI startup Decart for around $7 billion, and Nvidia was reportedly in talks to deepen its investment in or acquire Reflection AI. GTCR and Elliott Investment Management are in advanced talks to acquire CCC Intelligent Solutions, while TKO LLC submitted a $2 billion all-cash offer for Service Properties Trust’s hospitality portfolio.
