M&A; Around The Globe: APAC, JPM, NYX, Deutsche Boerse, PFE
Thursday, July 07, 2021 3:20 PM

US stocks were trading higher after better-than-expected economic data. As the Markets climb, several M&A activities took place around the world. Some notable M&A activities are discussed here.

JPMorgan Unit to Acquire APAC Customer Services for $470 Million

APAC Customer Services Inc. (Nasdaq: APAC) a leader in global outsourced services and solutions, has agreed to be acquired by One Equity Partners, the private investment arm of JPMorgan Chase & Co, in an all-cash transaction with an aggregate equity value of $470 million. Under the terms of the agreement, One Equity Partners will pay APAC stockholders $8.55 per share in cash, which represents a premium of approximately 57 percent over APAC’s closing share price on July 6, 2011, the last trading day prior to today’s announcement. The acquisition is anticipated to be funded through committed equity and credit facilities and is not subject to any financing contingencies. OEP will seek to combine APAC with NCO Group to build market leadership in business process outsourcing and customer care solutions. Shares of APAC jumped 54.96 percent to $8.43, while JPM gained 2.05 percent to $41.39 on Thursday.

NYSE Euronext Shareholders Approve Merger

NYSE Euronext (NYSE: NYX) said Thursday that its shareholders have approved the adoption of the business combination agreement with Deutsche Boerse AG and related proposals. The proposals, which required approval by a majority of the outstanding shares or in some cases majority of shares voted of NYSE Euronext common stock, were approved at a special shareholders meeting held today in New York. Based on preliminary results, approximately 96.09 percent of the shares present at the special meeting voted for the approval of the combination, representing 65.68 percent of NYSE Euronext’s outstanding common shares. The combination of the two Boerse’s is expected to provide compelling industrial logic based on a shared vision that is consistent with the long-term strategy of both companies, and synergies of EUR550 million ($798 million), including EUR400 million ($580 million) in full run-rate cost savings and EUR150 million ($218 million) in revenue enhancements. The acceptance period during which shareholders of Deutsche Boerse can tender their shares in exchange for shares in the new combined company will end next week, on July 13, 2011. NYX was trading higher by 2.74 percent to $35.30 on Thursday.

Pfizer may Sell 2 Business Unit after Review

Pfizer Inc. (NYSE: PFE) said Thursday, that it may sell its animal health and nutrition business in the next two years so it can focus on expanding its low-cost pharmaceuticals unit. Pfizer Chief Executive Officer Ian Read, a company veteran who took the helm in December, has been reviewing the drugmaker's various businesses to determine whether they should be sold. Pfizer has been facing pressure to eliminate some business units and return more cash to shareholders, said the moves will allow investors to get more value for the businesses. The company may also consider transactions including spinoffs and may pursue different strategies for each business. The transaction relating to sale of its business could take one to two years and the company does not expect to provide any further updates on the possible sale until 2012. Shares of Pfizer were down 2.17 percent to $20.33 on Thursday.