Insights: Mergers & Acquisitions

Mergers & Acquisitions

Compass/Anywhere

Based on research to date, we expect Compass/Anywhere will receive a second request from the DOJ. Feedback from industry participants (who are not involved in the deal) as well as industry reports indicate that the combined company will have a dominant share of the luxury home brokerage services market at both a national and local level. We...

Mergers & Acquisitions

The EC will soon decide whether to issue a formal statement of objections (SO) against the deal. An SO typically issues on or around the 40th business day of the EC’s review, which would be October 10th in this case. The M&A publication Dealreporter reported today that the case team reviewing the transaction has found no basis for an SO and has...

Mergers & Acquisitions

Baker Hughes/Chart Industries

The transaction’s initial 30-day HSR waiting period is scheduled to expire on October 3. The DOJ historically has had jurisdiction over energy products and services mergers and will likely review this deal as well.

Mergers & Acquisitions

MasterBrand/American Woodmark

The transaction’s initial 30-day HSR waiting period is scheduled to expire on October 6. We continue to expect MasterBrand/American Woodmark will receive a second request from the DOJ. New feedback from industry participants (who are not involved in the deal) suggests the deal eliminates one of two commodity-grade or “stock” cabinet manufacturers...

Mergers & Acquisitions

Paramount Sydance/Warner Discovery

Upcoming/recent developments… The Wall Street Journal reported recently that Paramount Skydance (Paramount) is preparing a majority cash bid for Warner Brothers Discovery (Warner). The bid is apparently for the entire company. Our outlook… We believe Paramount/Warner would ultimately be cleared by federal regulators. As we are observing...

Mergers & Acquisitions

The companies are due to file HSR by August 29. We do not expect HNI/Steelcase will receive a second request from the FTC or DOJ, but we do observe material risk of such an outcome.