This Wednesday, Oct. 16, 2013 file photo shows trucks run past Teva Pharmaceutical Logistic Center in the town of Shoam, Israel. Israel's Teva Pharmaceutical Industries Ltd. said Monday it is purchasing Dublin-based Allergan PLC's generic pharmaceuticals business for $40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli company.Dan Balilty/The Associated Press
DEAL OF THE DAY: Teva snaps up Allergan's generic business in $40-billion deal
Teva Pharmaceutical Industries has agreed to buy Allergan PLC's generic drug business for $40.5-billion (U.S.). Allergan will receive $33.75-billion in cash and shares of Teva valued Monday at $6.75-billion. The deal will make Israeli-based Teva one of the world's largest pharmaceutical firms. Full story
MERGERS AND ACQUISITIONS
Allergan acquires depression-drug developer
In a transaction not related to the deal of the day but involving Allergan PLC, the company has acquired Naurex, a privately held biopharmaceutical firm, in an all-cash transaction. Under the terms of the agreement, Allergan will acquire Naurex for a $560-million (U.S.) upfront payment net of cash acquired, $460-million of which is payable upon the closing of the acquisition and $100-million of which is payable by January of 2016. Press release
First Majestic and SilverCrest agree on friendly acquisition
First Majestic Silver Corp. has agreed to acquire all of the issued and outstanding common shares of SilverCrest Mines Inc. for an implied value of $1.30 a share, a 35-per-cent premium to SilverCrest's previous closing price. Following the transaction, First Majestic will issue approximately 32.8 million common shares, valuing SilverCrest's equity at approximately $154-million. Press release
Flight simulator firm CAE selling mining division
Constellation Software Inc. has acquired CAE Inc.'s mining division, known as Datamine. Datamine will operate within Constellation Software's Vela software division. The value of the transaction is undisclosed, though one analyst estimates it is slightly below the asset's net book value of $47-million. Full story
TransAlta makes move into solar and wind power
TransAlta Corp. has announced the acquisition of 71 megawatts of long-term contracted assets from an affiliate of Rockland Capital LLC for a purchase price of $75.8-million (U.S.), together with the assumption of certain tax equity obligations and $41.8-million of project debt. The assets acquired include 21 MW of solar projects located in Massachusetts and a 50-MW wind facility in Minnesota. Full story
McGraw Hill financial expands reach with acquisition
McGraw Hill Financial Inc. has agreed to buy the financial data and information provider SNL Financial for $2.2-billion (U.S.) in cash. McGraw will acquire the company from an affiliate of the private equity firm New Mountain Capital and former members of SNL's management. The deal will strengthen McGraw Hill's data unit, S&P Capital IQ, particularly in providing information on banking and insurance, the company said. Full story
Firm Capital Property Trust adds property interests to its portfolio
Firm Capital Property Trust has announced the purchase of a 70-per-cent interest in seven industrial buildings located in Waterloo, Ont. The acquisition price for 100 per cent of the properties is approximately $43.3-million, excluding transaction costs. Press release
ANALYSIS AND INSIGHT
Canadian VC and PE deal making surge in first half of 2015
Data from Thomson Reuters show that it was the strongest first half for venture capital funding in Canada since 2002 and the strongest for private equity funding since 2007. Venture capital firms invested $636-million in 143 deals in the second quarter, 15 per cent higher than the first quarter. Private equity invested $11.4-billion in 205 deals. Full story
IN CASE YOU MISSED IT
Alstom lowers purchase price to keep GE deal on track
Alstom is taking a cut of $333-million in its deal with General Electric as a way of supporting GE's efforts to win anti-trust clearance in Europe. The last-minute 2.4-per-cent discount to the previously agreed €12.35-billion deal is the latest in a series of knocks Alstom shareholders have suffered since the deal was announced in April, 2014. Full story
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