Deals of the day: Mergers and acquisitions
WEN•Wendy’s rejected a $1.4 billion take-private offer, DTE Energy agreed to sell DTE Vantage for about $3 billion, and several other companies announced deals, including a reportedly $10 billion AstraZeneca offer for Rhythm Pharmaceuticals.
1. Key deal updates
Wendy’s rejected a $1.4 billion take-private offer from Trian Fund Management and its partners and adopted a “poison pill” plan. DTE Energy agreed to sell its non-utility business, DTE Vantage, for about $3 billion, saying it aims to focus on regulated electric and gas operations.
2. Other reported transactions
Permira agreed to acquire a majority stake in Flint Group. Adani Ports and Special Economic Zone said it would acquire Evos B.V. for an enterprise value of €2.56 billion ($2.88 billion), while Acesur and Dcoop agreed to buy Deoleo in a deal valuing it at €520 million ($586 million).
3. Energy and pharma deals
BP said it raised about $1.06 billion by selling a 5% stake in Aker BP. AstraZeneca reportedly made an offer of about $10 billion to acquire Rhythm Pharmaceuticals, according to three people familiar with the matter.
