Big Deal Round-Up In the second week of July, the M&A market witnessed significant deals, as Exxon acquired Denbury for $4.9B and Kering, the parent company of Gucci, purchased Creed fragrance for $3.9B. Additionally, Qatar acquired a 5% stake in the Washington Wizards in the private equity sector. Notably, ground-breaking Domino's-Uber and Shutterstock-OpenAI partnerships contributed to the surge in shares of Domino's and Shutterstock. This week also saw various noteworthy developments. M&A: - Exxon is set to acquire Denbury for $4.9B, making a significant investment in carbon storage.
- In a strategic step into the competitive high-end beauty sector, Kering, the luxury company that owns Gucci, paid $3.93B for the fragrance brand Creed.
Private Equity: - The Qatar Investment Authority has invested $200M, acquiring a 5% stake in Monumental Sports, the owner of the Washington Wizards.
- In a $1.04B cash and equity deal, TransAlta Corp intends to purchase all of TransAlta Renewables Inc.
- The Rothschild family acquired 8.2 million shares of a Paris-based investment bank.
- Private equity corporation KKR successfully negotiates a company's $1.6B purchase by offering less and emphasizing the financing and rivalry risks.
Partnerships: - Shutterstock and OpenAI have announced an expanded six-year agreement; Shutterstock will grant access to its video, image, and audio libraries to supply superior training data for ChatGPT.
- Domino's has announced a global agreement with Uber Eats, making it their exclusive third-party platform in the U.S. until 2024.
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