M&A; Around The Globe: BMY, Amira Pharma, AngloGold, First Uranium, AAPL, Hulu
Friday, July 22, 2021 11:53 AM

As the US stocks trade mixed after disappointing quarterly results from Caterpillar Inc., several M&A activities took place around the world. Some notable M&A activities are discussed here.

Bristol Myers to Buy Amira Pharmaceuticals

Bristol-Myers Squibb Co. (NYSE: BMY) said that it has entered into a definitive agreement to acquire privately held Amira Pharmaceuticals, a small-molecule pharmaceutical company focused on the discovery and early development of new drugs to treat inflammatory and fibrotic diseases. Under the terms of the agreement, Bristol-Myers Squibb will acquire all of Amira Pharmaceuticals’ issued and outstanding shares of capital stock and stock equivalents in an all-cash transaction for a purchase price of $325 million upfront and potential additional milestone payments totaling $150 million. Bristol-Myers Squibb will secure Amira Pharmaceuticals’ fibrosis program, including the lead asset AM152, and it will also obtain Amira Pharmaceuticals’ preclinical autotaxin program, which may be useful in the treatment of neuropathic pain and cancer metastases. The closing of the transaction is subject to customary regulatory approvals. BMY is trading lower by 0.44 percent to $29.43 a share.

AngloGold to Buy Stake in First Uranium

Afrca’s biggest gold miner AngloGold Ashanti said Friday that it has agreed to acquire a 19.79 percent stake in Canadian gold and uranium producer First Uranium Corp. for $30 million. AngloGold said it would buy the stake, which consists of 47 million shares and priced at $0.64 a share, from South Africa's Village Main Reef Gold Mining. "The acquisition was effected by AngloGold Ashanti for investment purposes," it said in a statement. The company added it could acquire additional First Uranium shares. Village said in a separate statement the proceeds of the purchase will be used to pay its debts. Village has granted lock-up rights and rights of first refusal to AngloGold Ashanti for its remaining 5.7 percent stake in First Uranium.

Apple May Bid for Hulu Online Video Service

Apple Inc. (Nasdaq: AAPL) is in early talks to join the bidding for Hulu, the online video site that Walt Disney Co, News Corp and its other owners have put up for sale, Bloomberg cited two unidentified sources as saying. Apple with $76.2 billion in cash and securities on its books is well positioned to acquire companies, which it thinks could boost up its iTunes business. Hulu would give Apple a new subscription service and represent a possible challenge to Netflix Inc. (Nasdaq: NFLX) Hulu’s media- company owners, Walt Disney Co. (NYSE: DIS), News Corp. (Nasdaq: NWSA) and Comcast Corp. (Nasdaq: CMCSA)’s NBC Universal, are offering suitors a five-year extension of program rights, including two years of exclusive access, people familiar with the matter said earlier this week. Hulu's owners, which also include Comcast Corp's NBC Universal and Providence Equity Partners, have begun preliminary sale talks with about a dozen potential buyers, including Google Inc and Microsoft Corp a source familiar with the situation said this month .The video site is expected to have 1 million paid subscribers by the end of summer, earlier than previously forecast. AAPL is trading higher by 0.76 percent to $390.23 a share.