Pharmaceutical giant Merck will acquire biotechnology company Prometheus Biosciences for a total equity value of about $10.8 billion, the companies said Sunday, in an agreement stitched together by respective legal advisers Paul Weiss and Latham & Watkins.
Since Russia invaded Ukraine, U.S. appetite for acquisitions in the U.K. and Europe has dampened, as experts say the headwinds of war, combined with inflation and rising interest rates, have combined to create an overall challenging global environment.
The British government has approved a buyout offer of £4.25 billion ($5.3 billion) for Chelsea Football Club from a U.S. private equity-backed consortium financier, putting the soccer club on firm legal ground after its Russian oligarch owner was sanctioned.
Tiffany & Co. and LVMH Moet Hennessy Louis Vuitton will lower the price tag of their merger from $16.2 billion to roughly $15.8 billion and have agreed to settle their legal dispute in Delaware, the companies said Thursday.
TPG, led by Kirkland & Ellis LLP, said Wednesday that it has secured $7.3 billion from limited partners for a fund that targets growth-stage investments in "innovative climate solutions," with examples including companies focused on electric vehicles and solar energy projects.