Deals of the day—mergers and acquisitions
SBUX•Starbucks has reportedly explored a takeover of Chipotle Mexican Grill. Devon Energy agreed to sell its Eagle Ford assets for $4.2 billion, while Viatris said it would buy Pacira BioSciences for $1.65 billion in cash.
1. Potential Starbucks bid
Starbucks has explored a takeover of Chipotle Mexican Grill, a move that would reunite Chief Executive Brian Niccol with the burrito chain he led before joining Starbucks two years ago.
2. Energy and drug deals
Devon Energy will sell its Eagle Ford assets to Crescent Energy for $4.2 billion, trimming its portfolio to focus on core operations in the Permian Basin following its $58 billion merger with Coterra Energy. Viatris said it would buy Pacira BioSciences for $1.65 billion in cash, adding two non-opioid pain treatments as it expands its branded medicines business.
3. Other transactions
AkzoNobel and Axalta are set to win EU antitrust approval for their $25 billion merger after pledging to sell AkzoNobel's vehicle refinish business, people familiar with the matter said. BAM Groep agreed to buy privately owned A.Hak at an enterprise value of €504 million ($565 million), while Webuild raised its cash offer for Trevi to €5.165 per share from €4.50.
