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Yankees holder Ray Chambers weighs selling stake in NY team.
LVMH deepens partnership with Alibaba to expand presence in China.
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Amphenol , a global provider of high-technology interconnect, antenna and sensor solutions, completed the acquisition of Carlisle Interconnect Technologies , the harsh environment interconnect solutions business of Carlisle Companies Incorporated , an American diversified company, for $2bn.
“The acquisition of CIT enhances Amphenol’s product offerings for highly engineered harsh environment interconnect solutions and will enable us to deliver a more comprehensive technology offering for our customers in the commercial air, defense and industrial markets. We are excited to welcome CIT’s talented employees to the Amphenol family and look forward to working together with them to drive outstanding operating performance,” R. Adam Norwitt, Amphenol President and CEO.
Amphenol was advised by Evercore and Latham & Watkins (led by Robert Katz and Charles Ruck ). Carlisle was advised by J.P. Morgan and Kirkland & Ellis .
Admiral Acquisition, a publicly-listed acquisition vehicle, agreed to acquire Acuren , a North American provider of critical asset integrity services, from American Securities , a private equity firm, for $1.85bn.
"American Securities has been a great partner to Acuren. We're looking forward to working with the Admiral team to support Acuren's next phase of growth as a public company. The Admiral team's successful track record of driving value creation for shareholders while providing great jobs for employees, across diverse businesses, particularly industrial services, is well aligned with our long term growth objectives. Our commitment to providing best-in-class services to our clients remains unwavering," Talman Pizzey , Acuren CEO.
Acuren is advised by Harris Williams , Baird and Weil, Gotshal & Manges LLP . Admiral Acquisition is advised by Jefferies , UBS , Collected Strategies (led by ed hammond and Dan Moore ) and Greenberg Traurig, LLP . Jefferies is advised by Latham & Watkins . American Securities is advised by Weil, Gotshal & Manges LLP and Prosek Partners . Debt financing is provided by Jefferies .
Genmab , a biotechnology company, completed the acquisition of ProfoundBio , a clinical-stage biotechnology company, for $1.8bn.
"With the completion of this strategic transaction, we are excited to welcome our new colleagues and their expertise in developing next-generation antibody-drug conjugates to our exceptionally talented R&D team. We look forward to unlocking new opportunities as we strengthen our oncology portfolio and continue to work towards our goal of transforming the lives of patients with innovative antibody medicines,” Jan van de Winkel, Ph.D. , Genmab President and CEO.
Genmab was advised by Goldman Sachs , Kromann Reumert (led by Bart Creve ), Shearman & Sterling LLP (led by Clare O'Brien , Derrick Lott , Harald Halbhuber and JB Betker ) and Simmons & Simmons (led by Jingyuan Shi ). Financials advisors were advised by Sullivan & Cromwell LLP (led by Matthew Hurd ). ProfoundBio was advised by Bank of America , Morgan Stanley , Cooley LLP (led by Brenden Rowook Park, Rama Padmanabhan , Patrick Loofbourrow and Ruomu Li ), Wilson Sonsini Goodrich & Rosati (led by Julia Minitti ), Jun He Law and Travers Thorp Alberga .
Yankees holder Ray Chambers weighs selling stake in NY team.
US businessman Ray Chambers is renewing efforts to sell a minority stake in the New York Yankees , potentially adding to a string of deals involving iconic sports teams.
Chambers is seeking a buyer for the holding in Yankee Global Enterprises, the Major League Baseball (MLB) franchise’s parent company. Sportico valued the Yankees at about $7.9bn in March, Bloomberg reported.
LVMH deepens partnership with Alibaba to expand presence in China.
French luxury group LVMH will deepen its partnership with Alibaba Group to leverage the, firm's cloud and artificial intelligence capacities and boost its presence in China, DealStreetAsia reported.
The world's biggest luxury group, and the Chinese e-commerce giant first forged a partnership in 2019. The reinforced ties come as luxury companies redouble efforts to cater to shoppers in China, where demand has been dampened by a property crisis and high youth unemployment.
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