Hot M&A Catch-Up: Johnson & Johnson, Yamana

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Hot M&A Catch-Up: Johnson & Johnson, Yamana
Credit: © Reuters.

By Sarina Isaacs, Reuters - Here are the hottest pieces of M&A news from the past week, as covered first on InvestingPro+.

Pan American Silver (NASDAQ: PAAS ) Corp. and Agnico Eagle (NYSE: AEM ) Limited announced a definitive binding $4.8 billion offer to acquire Yamana Gold (NYSE: AUY ) Inc. to rival Gold Fields' (NYSE: GFI ) planned acquisition of the Canada-listed miner. The deal would see pan American and Agnico Eagle split Yamana's mines between them. Gold Fields' all-stock author was worth $6.7 billion when first inked in May, but a slump in its shares has brought the offer's value to just north of $4 billion. Yamana rose 11.6% for the week; Pan American lost 6.5%; Agnico Eagle dropped 1.3%; and Gold Fields climbed 8%.

Johnson & Johnson (NYSE: JNJ ) agreed to acquire Abiomed (NASDAQ: ABMD ) for an upfront payment of $380 per share, or $16.6 billion. Abiomed shareholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to receive up to $35 per share in cash if certain commercial and clinical milestones are achieved. Abiomed leapt 48.4% for the week; Johnson & Johnson slipped 1.4%.

Poseidon Acquisition agreed to buy marine and energy asset owner Atlas (NYSE: ATCO ) Corp. for $15.50 per share, or $10.98 billion, in an all-cash transaction. Poseidon is an investment vehicle backed by Atlas's current chairman, David Sokol, among others. Atlas was up 3.3% for the week.

Voya Financial (NYSE: VOYA ) agreed to buy Benefitfocus (NASDAQ: BNFT ) for 10.50 per share, or $570 million, in an all-cash transaction. Benefitfocus soared 47.4% for the week; Voya was off 2.1%.

Marathon Oil (NYSE: MRO ) said it would acquire Ensign Natural Resources' Eagle Ford assets for $3 billion in cash. Marathon Oil shares rose 5.2% for the week.

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