David Kirakosian
Investing.com — In one of its biggest M&A announcements last week, SAP said it could sell its stake in Qualtrics. Here’s a complete list of the latest high-profile deal dispatches first featured on InvestingPro.
Qualtrics shares soar as SAP seeks to sell stake
Shares of Qualtrics International (NASDAQ:) soared more than 32% on Thursday after SAP (NYSE:) said it may sell a stake in the company as part of an effort to rationalize its portfolio. The move is in line with the company’s strategy established by Qualtrics’ 2021 IPO, with SAP saying, “We believe this potential transaction can unlock significant value for both the company and its shareholders. There are.”
SAP highlighted that it has experienced significant growth since its acquisition of Qualtrics in 2018, with revenue growing 3.5x to nearly $1.5 billion. In addition, Qualtrics has expanded its offerings and is widely adopted among enterprise customers.
Qualtrics International shares ended the week up about 37%.
Apollo and Claure Group Consider Acquisition of Millicom
Shares of Millicom International Cellular, SA (NASDAQ:) were announced after the Board of Directors confirmed that they were in discussions with Apollo Global Management (NYSE:) and Claure Group regarding the potential acquisition of all outstanding shares of Millicom. Soared over 23%. However, there is no guarantee that any transaction will occur, nor what the terms, timing or form of any such transaction will be.
Millicom shares closed the week up 19%.
Murdoch withdraws proposed Fox-Newscorp merger
NEWS CORPORATION (NASDAQ:) said Tuesday that its board of directors received a letter from Rupert Murdoch to withdraw its proposed merger between News Corporation and News Corporation. Fox Corporation (Nasdaq:). Murdoch said he and Lachlan Murdoch have now concluded that such a combination is not in the best interests of both companies’ shareholders.
News Corporation shares ended the week up 6%, while Fox Corporation was up 7%.
Sumo Logic spikes with acquisition interest rumors from private equity firms.
Shares of Sumo Logic (NASDAQ:) soared more than 28% on Monday after rumors of interest from the private equity firm surfaced. The Information, a technology-focused business publication, reported that several well-known private equity firms, including Thoma Bravo, Vista Equity Partners and Francisco Partners, may be considering acquisitions. The report did not specify whether any discussions took place or whether a deal was certain.
The stock ended the week up 54%.
Xylem-Evoqua and Qiagen Round Out Biggest M&A News
xylem (NYSE:) to acquire Evoqua (NYSE:) in an all-stock transaction worth $7.5 billion, the companies said.
Upon completion of the transaction (expected in mid-2023), Xylem shareholders will own approximately 75% of the combined company and Evoqua shareholders will own approximately 25% on a fully diluted basis.
Shares of Evoqua jumped more than 15% on Monday following the announcement.
Qiagen (NYSE:) is reportedly considering options to sell a minority stake in its bioinformatics unit, according to a Bloomberg report citing knowledgeable sources.
***
If you’re interested in upgrading your search for new investment ideas, check out InvestingPro.
