Concordia Healthcare Corp. said it would buy Amdipharm Mercury Ltd. from private equity firm Cinven in a deal valued at $3.5-billion.PAUL O'DRISCOLL
DEAL OF THE DAY: Concordia buys Amdipharm in $2.1-billion deal
The acquisition of U.K.-based Amdipharm Mercury Ltd. for $2.1-billion (U.S.) is the largest yet for the Canadian pharmaceutical company that some have dubbed "Baby Valeant."
As The Globe's Niall McGee reports, it's a deal that was months in the making.
"It really is a place where deals are made," said Concordia Healthcare Corp. chief executive officer Mark Thompson, referring to the annual JPMorgan Healthcare Conference in San Francisco.
Mr. Thompson says the January conference, which sees hundreds of pharma companies gather each year, is responsible for the genesis of the Amdipharm deal, as well as a $1.2-billion acquisition in March – and another smaller deal that is yet to be announced.
As for deals of the blockbuster variety, Mr. Thompson hinted Concordia may not be done.
He says the firm's appetite "remains very strong" and that its bigger size gives the company the "opportunity to go after larger things." Full story
MERGERS AND ACQUISITIONS
Blackstone to buy Strategic Hotels
Blackstone Group LP will buy real estate investment trust Strategic Hotels & Resorts in a deal valued at $6-billion (U.S.), attracted by the company's iconic hotel properties in key locations of the United States. Full story
Epic buys Option 1 Healthcare
Epic Health Services Inc., a Dallas-based provider of private duty nursing and therapy for children, has acquired Option 1 Healthcare Solutions. Press Release
SHARE OFFERINGS
Emera announces $1.9-billion financing
Bay Street is officially back to school. After an extremely slow August, September is starting with a bang, fuelled by Emera Inc.'s $1.9-billion financing to help fund its major acquisition of TECO Energy Inc.
Instead of selling straight common shares, Emera is offering $1.9-billion worth of "convertible debentures represented by instalment receipts." Full story & analysis
PRIVATE EQUITY AND VENTURE CAPITAL
AveXis secures financing
AveXis Inc., a gene therapy company, has completed a $65-million (U.S.) class D round of financing led by T. Rowe Price and Associates Inc. Press Release
Selecta completes $38-million round of equity financing
Selecta Biosciences Inc., a clinical stage biotechnology company, announced it has completed a $38-million (U.S.) series E equity financing. Press Release
ANALYSIS AND INSIGHT
Dodge to leave BlackBerry
Dan Dodge, president of BlackBerry's Ottawa-based QNX Software Systems business, a member of chief executive officer John Chen's executive team and the last senior BlackBerry Ltd. executive with close ties to company co-founder Mike Lazaridis, is leaving the company. Full story
Notley's risky infrastructure plan
For Alberta's Premier, investing big in infrastructure to jolt the economy is the logical thing to do. But she'll be vilified for it, Globe reporter Jeffrey Jones writes. Full story
IN CASE YOU MISSED IT
CPPIB, PSP take stakes in Homeplus
Two Canadian pension plans – the Canadian Pension Plan Investment Board and the Public Sector Pension Investment Board – are part of a consortium that purchased South Korean supermarket chain Homeplus from British retailer Tesco for $6.1-billion (U.S.) on Monday. Full story
Know of any coming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? E-mail us at deals@globeandmail.com.