Expedia Buys Trivago Position, Adobe Purchases Behance: Merger and Acquisitions Recap
Should its proposed takeover of NYSE Euronext (NYSE:NYX) fail due to antitrust roadblocks, IntercontinentalExchange (NYSE:ICE) will pay the former $750 million. The terms of the acquisition also require each exchange to pay their partner $300 million if a superior bid is chosen and $450 million to the counterparty if the other exchange’s board reneges.
On Friday, Expedia (NASDAQ:EXPE) said that it will purchase a 61.6 percent equity position in Trivago for total consideration of roughly $632 million, based on current exchange rates. The buyer expects the deal to be accretive to adjusted earnings per share next year. Trivago is a leading metasearch company headquartered in Düsseldorf.
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Aviva (NYSE:AV) will divest Aviva USA Corporation, its domestic life and annuities division, and related asset management operations to Athene Holding for $1.8 billion. The seller will retain the North American asset management activities of Aviva Investors along with Aviva assets outside of the United States.
Adobe Systems Incorporated (NASDAQ:ADBE) purchases the privately-held Behance, a top online social media platform that permits creative persons to showcase and share their work. The acquisition of Behance steps up Adobe’s strategy of providing great community features to Creative Cloud, making it the ultimate center for creatives globally. Sources to Om Malik at Gigaom.com believe that the transaction was worth between $100 and $150 million.
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