7 biggest deal reports this week: Horizon Therapeutics surges on takeover talks

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7 biggest deal reports this week: Horizon Therapeutics surges on takeover talks
Credit: © Reuters.

Here are 7 head-turning deal dispatches from the past week, as covered first on InvestingPro+.

1. Arco Platform (NASDAQ: ARCE ) announced it had received a non-binding going private proposal from General Atlantic and Dragoneer Investment Group for $11 per share, which represent an approximately 22% premium over the prior most recent closing price of $9.04.

The proposal states that the founders (Oto Brasil de Sá Cavalcante and Ari de Sá Cavalcante Neto) support the offer and will roll over 100% of their Class A common shares and Class B common shares in the transaction, and that after the closing, the founders will maintain the same economic and voting interest in the company as they currently have. The company cautions its shareholders and others considering trading in its securities that no decisions have been made with respect to the company's response to the proposal. Shares gained 43% to $12..41 for the week.

2. Hewlett Packard Enterprise (NYSE: HPE ) has expressed takeover interest in Nutanix (NASDAQ: NTNX ), according to a report from Bloomberg, citing people familiar with the matter. Nutanix shares gained 6.8% to $30.53. HPE shares rose 6.3% to $16.69.

3. Aerojet Rocketdyne (NYSE: AJRD ) is seeing multiple bidders, according to Reuters, which says General Electric (NYSE: GE ) L3Harris Technologies (NYSE: LHX ), Textron (NYSE: TXT ), and Veritas Capital are all vying to acquire the company. Aerojet shares gained 7.4% to $54.57 for the week.

4. EQT (NYSE: EQT ) is in talks to acquire Radius Global Infrastructure Inc (NASDAQ: RADI ) according to a report from Bloomberg, citing people with knowledge of the matter. EQT is speaking to banks about financing. No deal has been reached and talks could still collapse, the report cautioned. Radius shares gained 16.5% for the week to $12.88. EQT lost 3.7% to $39.93.

5. Shares of Horizon Therapeutics (NASDAQ: HZNP ) surged after the company confirmed that it was in "highly preliminary" takeover talks with Amgen Inc (NASDAQ: AMGN ), Janssen Global Services, LLC and Sanofi (EPA: SASY ) (NASDAQ: SNY ). The confirmation followed shortly after a Wall Street Journal article reported that the biopharma company was fielding takeover interest from large pharmaceutical companies. The Journal story added that with a typical takeover premium it could fetch a price well over $20 billion in a deal.

Horizon said the talks with the three parties "may or may not lead to an offer being made for the entire share capital of the Company." The company was forced to make the disclosure in accordance with Rule 2.6 of the Irish Takeover Rules, where it is based. Shares gained 34% for the week to $104.85.

6. Boston Scientific Corporation (NYSE: BSX ) agreed to acquire Apollo Endosurgery (NASDAQ: APEN ), Inc. for a cash price of $10 per share, reflecting an enterprise value of approximately $615 million. Shares gained 5.9% to $46.60 for the week.

7. Amwell (NYSE: AMWL ) is in talks to buy Talkspace Inc (NASDAQ: TALK ) at $1.50 per share, per Calcalist. Talkspace shares gained 14% to $0.85 for the week. Amwell gained 6.4%.

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