The long Memorial Day weekend may have given Wall Street a rest, but mergers and acquisitions don’t take a holiday. Here are a few deals that investors may have missed.
Investment firm KKR & Co L.P. Unit (NYSE:KKR) kicked off a belated Merger Monday, announcing that it will buy BMC Software Inc for an undisclosed amount.
The software solutions provider was acquired by Bain Capital and Golden Gate Capital in 2013 in US$6.9bn deal. This deal may be worth as much as US$10bn, according to a report by the New York Post.
"Our growth outlook remains strong as BMC is competitively advantaged to continue to invest and win in the marketplace,” said BMC CEO Peter Leav in a statement.
Shares of KKR were down less than 2% in Tuesday trading to US$22.06.
PepsiCo Inc (NASDAQ:PEP) is expanding its snacking portfolio, entering an agreement to acquire Bare Foods Co. The snack company makes baked fruit and vegetable snacks, including baked apple chips and baked sea salt beet chips.
READ: Merger Monday: Marriott, Prologis, Marathon, J Sainsbury Plc. and United Therapeutics on a buying spree
Pepsi’s subsidiary Frito-Lay has started offering healthier alternatives to its normal salty snacks including baked version of its classic brands like Lay’s potato chips as well as new products like Stacy’s baked pita chips.
"Bare premium baked fruit and vegetable chips are an exciting expansion of Frito-Lay's better-for-you snack offerings," said Frito-Lay North America COO Vivek Sankaran.
Shares of the snack giant were down less than a percent to US$100.20.
Publishing company Tronc Inc (NASDAQ:TRNC) has acquired The Virginian-Pilot Media Companies LLC in a US$34mln deal. Founded in 1865, the Virginian-Pilot is Virginia’s largest daily newspaper with a Sunday circulation of 132,000 readers, according to Tronc’s release. Its website receives nearly 2 million monthly visitors.
“The inclusion of The Virginian-Pilot further strengthens our presence in the region and renews our commitment to our longstanding tradition of journalistic excellence,” said Tronc CEO Justin Dearborn.
Along with the media properties, the sale includes the paper’s main office in Norfolk and its printing facility in Virginia Beach.
Tronc also owns the New York Daily News, Chicago Tribune, Baltimore Sun, Orlando Sentinel, Hartford Courant as well as other regional papers.
Shares of the media company were up 1.5% to US$16.57.
Finally, British sandwich chain Pret a Manger is to be taken over by Luxembourg-based JAB Holdings in a deal worth more than £1.5bn.
JAB, which acts as an investment vehicle for the reclusive Reimann family, currently owns Panera, doughnut maker Krispy Kreme and coffee brands Kenco, Douwe Egberts, and Tassimo. The group secured a US$18.7bn deal earlier this year to acquire fizzy drinks maker Dr .Pepper Snapple.