The month of November 2024 has been a period for mergers and acquisitions (M&A), with high-value deals reshaping industries ranging from finance and healthcare to telecommunications and energy. Here’s a breakdown of the most notable transactions, shedding light on strategic shifts and industry trends.
Mubadala Acquires CI Financial’s Private Division for C$12.1 Billion
Mubadala, Abu Dhabi’s sovereign wealth fund, expanded its investment portfolio by acquiring the private wealth arm of CI Financial for C$12.1 billion. This deal underscores Mubadala’s ambitions to diversify its assets globally and CI Financial’s focus on streamlining its operations.
Quikrete Merges with Summit Materials in an $11.5 Billion Deal
Construction industry leaders Quikrete and Summit Materials have joined forces in a merger worth $11.5 billion. The combined entity aims to leverage synergies in materials production and distribution, positioning itself as a dominant player in North America’s construction sector.
Peabody Energy Acquires Anglo American’s Steelmaking Coal Business for $3.8 Billion
Peabody Energy bolstered its coal operations with the $3.8 billion acquisition of Anglo American’s steelmaking coal division. The deal reflects a strategic focus on high-quality metallurgical coal, critical for the global steel industry.
Roche Purchases Poseida Therapeutics for $1.5 Billion
Roche solidified its position in the biotech sector with the acquisition of Poseida Therapeutics for $1.5 billion. This move emphasizes Roche’s commitment to gene therapy and innovative treatments for genetic disorders.
Amber DWM Holding and iClick Interactive Asia Group Merge
On November 30, Amber Group’s subsidiary, Amber DWM Holding, announced its merger with iClick Interactive Asia Group. The deal, centered on combining expertise in digital marketing and financial services, aims to drive innovation in Asia’s fast-evolving digital economy.
Macquarie Acquires Renewi for $887 Million
Australian investment giant Macquarie made headlines with its $887 million acquisition of UK-based waste-to-product company Renewi. This transaction highlights a growing investor interest in sustainability and recycling-focused businesses.
Amcor Acquires Berry Global for $8.4 Billion
In one of the year’s largest packaging industry deals, Amcor acquired Berry Global for $8.4 billion. The acquisition is set to enhance Amcor’s product portfolio and global market reach.
Blackstone Acquires Jersey Mike’s Subs for $8 Billion
Blackstone continued its foray into the consumer sector with an $8 billion acquisition of Jersey Mike’s Subs. The deal represents a significant bet on the growing demand for fast-casual dining.
AeroVironment Acquires BlueHalo for $4.1 Billion
AeroVironment expanded its defense technology capabilities by acquiring BlueHalo for $4.1 billion. This acquisition aligns with AeroVironment’s strategy to become a leader in advanced defense systems.
Protective Industrial Products Acquires Honeywell’s Protective Equipment Business for $1.33 Billion
Protective Industrial Products secured a key foothold in the safety equipment market with a $1.33 billion acquisition of Honeywell’s protective equipment business, enhancing its product lineup and market share.
Coterra Energy Acquires Franklin Mountain Energy and Avant Natural Resources Assets for $3.95 Billion
Coterra Energy expanded its oil and gas footprint with a $3.95 billion deal to acquire assets from Franklin Mountain Energy and Avant Natural Resources. This acquisition underscores the resilience of traditional energy investments despite the global energy transition.
Cardinal Health Strikes Two Key Deals Worth Over $3.9 Billion
Cardinal Health made waves with two significant acquisitions in November. It acquired GI Alliance for $2.8 billion, expanding its specialty healthcare services, and Advanced Diabetes Supply Group for $1.1 billion, strengthening its capabilities in diabetes care solutions.
General Mills Buys Whitebridge Pet Food for $1.45 Billion
General Mills ventured further into the pet care sector by acquiring Whitebridge Pet Food for $1.45 billion, a strategic move to tap into the growing demand for premium pet nutrition products.
Hilcorp Acquires ExxonMobil Assets for $1 Billion
Hilcorp secured valuable upstream oil and gas assets from ExxonMobil for $1 billion, reinforcing its presence in the energy sector while optimizing ExxonMobil’s asset portfolio.
Cencora Acquires Retina Consultants of America for $4.6 Billion
Cencora enhanced its healthcare service offerings by acquiring Retina Consultants of America for $4.6 billion. The deal strengthens its focus on specialty healthcare services in ophthalmology.
BCE Acquires Ziply Fiber for $3.65 Billion
Canadian telecom giant BCE expanded its fiber broadband capabilities with the $3.65 billion acquisition of Ziply Fiber. This deal highlights BCE’s commitment to enhancing digital connectivity across North America.
Stonepeak Acquires Air Transport Services Group for $3.1 Billion
Stonepeak diversified its investment portfolio by acquiring Air Transport Services Group for $3.1 billion, a move reflecting growing interest in the logistics and aviation sectors.
GHO Capital and Ampersand Capital Partners Acquire Avid Bioservices for $1.1 Billion
Private equity firms GHO Capital and Ampersand Capital Partners teamed up to acquire Avid Bioservices for $1.1 billion, betting on the continued growth of the biopharmaceutical contract manufacturing market.
AT&T Acquires US Cellular Corp. for $1.02 Billion
In a move to enhance its wireless coverage, AT&T acquired US Cellular Corp. for $1.02 billion. This acquisition is expected to strengthen AT&T’s network in underserved regions.
November 2024 will undoubtedly be remembered as a transformative month in M&A, with transactions reshaping industries and setting the stage for future growth. These deals reflect a dynamic business landscape, where innovation, consolidation, and strategic pivots are key drivers of value creation.