5 biggest deal reports: UBS plans to buy Credit Suisse for $1 billion | Pro Recap

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Investing.com — Here is your Pro Recap of 5 head-turning deal dispatches from the past week you may have missed on InvestingPro. Start your free 7-day trial to get this news first.

UBS (NYSE:UBS) has offered to buy Credit Suisse (NYSE:CS) for up to $1B in an all-share deal, with the Swiss government planning to change laws to bypass a shareholder vote on the deal, according to a Financial Times report today.

The proposed deal is set to be signed as soon as Sunday evening at a fraction of Credit Suisse’s closing price on Friday. This week alone, Credit Suisse’s shares have dropped more than 24% amid a series of scandals that have led to a decline in investor and client confidence, forcing the company to obtain $54B in central bank funding.

The proposed offer was made on Sunday morning at a price of 0.25 Swiss francs ($0.27) per share to be paid in UBS stock, as per the newspaper report, citing people familiar with the matter. Credit Suisse’s shares closed at 1.86 Swiss francs on Friday.

However, the acquisition talks are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine. According to a Reuters report earlier today, UBS is seeking $6B in government guarantees for the takeover, which would cover the cost of winding down parts of Credit Suisse and potential litigation charges.

T-Mobile US (NASDAQ:TMUS) announced on Wednesday that it will acquire Ka’ena Corporation and its subsidiaries, including popular prepaid wireless brand Mint Mobile, international calling service Ultra Mobile, and wholesaler Plum. T-Mobile will pay a maximum of $1.35B, consisting of 39% cash and 61% stock, for the acquisition. The final price will be determined based on Ka’ena’s performance during specific periods both before and after the transaction closes.

Seagen (NASDAQ:SGEN) shares jumped more than 14% on Monday after it was announced that Pfizer (NYSE:PFE) has entered into a definitive merger agreement to acquire Seagen for $43 billion or $229 per share. The acquisition, which is set to become Pfizer’s largest acquisition since 2009, is aimed at helping the company offset the decline in sales of its COVID-19 vaccines. The deal is expected to be completed in late 2023 or early 2024, subject to customary closing conditions.

Seagen shares gained 16% for the week, while Pfizer shares closed the week with a nearly 2% rise.

TikTok is in talks with potential buyers, despite resistance from its Chinese owners to sell the app under pressure from the Biden administration, New York Post reported on Thursday, citing sources familiar with the matter. The company is considering deals that were previously explored during the Trump administration’s threat to ban the app. One of these deals involved Oracle (NYSE:ORCL) partnering with Walmart (NYSE:WMT) to own a U.S. TikTok subsidiary.

Calls for a forced divestiture of TikTok from its Chinese parent, ByteDance, are growing among politicians from both sides of the aisle.

ACI Worldwide (NASDAQ:ACIW) shares surged more than 4% on Friday after Bloomberg reported that Motive Partners is in talks to purchase the company, citing people familiar with the matter. Motive is currently seeking financing for the potential acquisition, but no final deal has been reached yet.

Earlier this month, ACI Worldwide reported its Q4 results, with both EPS and revenues coming in better than the consensus estimates.

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