Thursday was M&A Day, $40bn Worth of Deals in the Market 29th April 2016

M&A to the tune of $40bn on Thursday as the markets reeled from Ichan selling out of Apple Inc. End Quote

(1888PressRelease) April 29, 2016 - Baumann Group
As the US markets reeled at the news that super investor Carl Ichan had sold out his position in Apple Inc. over concerns about China, the Mergers& Acquisitions market was awash with deals particularly in the Pharmaceutical division.

Over $40bn worth of deals were put on the table yesterday, the majority of which were in the pharma sector, with the largest being the deal between St. Jude and Abbott at $25bn. The strong offer will increase Abbotts cardiovascular range and is a clear sign of the lengths the Big Pharma corporations need to go to stay competitive.

The 5th largest deal in history involving a venture backed company was struck by Abbvie to purchase the San Francisco company Stemcentrix. The $10.2bn deal is due to be completed early next year and see's the VC Firm Founders Fund get a return of $1.7bn.

A hostile, cross border bid has been placed by Sanofi. The French firm has offered $9.3bn for Medivation. Medivation has previously brushed off an offer earlier in the year and now Sanofi has stepped up their campaign to acquire the company. The cancer drug company Medivation posted Sanofi's original offer letter when its CEO rebuked the deal.

Pharma didn't have all the spotlight.
Comcast is set to buy Dreamworks Animation for an estimated $3.8bn. The media deal will put Comcast in direct competition with Disney with a world class portfolio of characters. The cash deal helped push Dreamcasts share price up 19% the day earlier as rumors of the deal hit the markets.

Despite this huge day for M&A the deals did little to negate the effect of Icahn's sale of Apple which had a knock on effect across the major three indexes.

US Market Closes 28th April:
Dow Jones - 17,830.76 -210.79 (-1.17%)
S&P 500 - 2,075.81 -19.34 (-0.92%)
NASDAQ - 4,805.29 -57.85 (-1.14%)

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