2016 Reflection on Minnesota Mergers & Acquisitions
As a New Year begins, it creates new opportunities for businesses to continue the growth experienced throughout 2016. This could mean a promising Mergers & Acquisitions marketplace in 2017. However, before 2017 gets in full swing, we wanted to reflect back at 2016 and the strong marketplace for Mergers & Acquisitions. More specifically, we take a look at the Minnesota marketplace and explore 5 prominent M&A transactions announced in 2016, which are expected to close in 2017. Below (in no particular order) are the 5 transactions:
- Abbott Laboratories Will Acquire St. Jude Medical, Inc.
Abbott Laboratories (NYSE: ABT), a global healthcare company with expertise in diagnostics, medical devices, nutritionals, and branded generic pharmaceuticals announced on April 28, 2016 that it will acquire St. Jude Medical, Inc. (NYSE: STJ) for a total transaction equity value of $25 billion. The Transaction has yet to close and is expected to close January 4, 2017.
Read the original full press release at: http://www.abbott.com - Sherwin-Williams Company Will Acquire The Valspar Corporation
Global leader in the manufacture, development, distribution, and sale of coatings and related products, Sherwin-Williams announced on March 20, 2016 that it will acquire Minneapolis based Valspar Corporation. Sherwin-Williams will acquire Valspar for $113 per share, or a total transaction valued at approximately $11.3 billion of enterprise value, or representing a 4.0x Adjusted EBITDA multiple (Adjusted EBIDTA in 2015 was approximately $2.8 billion). The transaction is expected to close in the first quarter of 2017.
Read the original full press release at: https://www.sherwin-williams.com - Fairview Health Services Will Acquire UCare Minnesota, Inc.
Two Minnesota based companies, Fairview Health Services, a non-for-profit health care company that operates hospitals, urgent care clinics, and pharmacies throughout Minnesota announced on April 5, 2016 that it will acquire UCare Minnesota, Inc. – provider of health insurance plans that offer health coverage and services in Minnesota. As of August 17, 2016, a joint statement from Fairview and UCare indicates that due diligence continues with no official set date for a transaction close.
Read the original full press release at: http://www.fairview.org - Cintas Corporation Will Acquire G&K Services, Inc.
On August 16, 2016, Cintas Corporation (NasdaqGS: CTAS), which provides corporate identity uniforms and related business services announced it will acquire Minnesota based G&K Services (NasdaqGS:GK). G&K Services provides branded uniform and facility services programs throughout the U.S and Canada. Cintas agreed to purchase the outstanding shares of G&K Services for $97.50 per share in cash, for a total transaction value of $2.2 billion, which includes net debt.
Read the original full press release at: http://www.cintas.com - Insight Enterprises Will Acquire Datalink Corporation
Insight Enterprises (Nasdaq:NSIT), which provides information technology (IT) hardware, software, cloud, and service solutions announced on November 7, 2016 that it will acquire Datalink Corporation (NasdaqGS:DTLK). Datalink is based out of Eden Prairie, Minnesota and provides data center services and solutions throughout the United Sates. Insight will pay Datalink $11.25 per share for an equity purchase price of approximately $258 million and an enterprise value approximately $196 million. The transaction was announced on November 7th, 2016.
Read the original full press release at:https://www.insight.com
