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MGM in talks with People, Vertex to acquire Crinetics for $10B, and more key deals this week
MGM Resorts has reportedly started discussions with People for a potential buyout after Barry Diller’s media company offered to acquire the casino giant in a transaction worth $12.4 billion last month. Vertex Pharmaceuticals will acquire Crinetics Pharmaceuticals for a total equity value of about $10 billion, or nearly $8.8 billion net of estimated cash acquired. German engine manufacturer Deutz agreed to acquire military vehicle producer FFG Flensburger Fahrzeugbau Gesellschaft in a transaction valued at approximately €1.6 billion, or $1.8 billion. Perfect signed a definitive merger agreement with ProjectNY, an entity controlled by founder and CEO Alice Chang, under which the company will become privately held at $2.00 per share. Axos Nevada, a subsidiary of Axos Financial, announced a definitive agreement to acquire Arc Technologies, a financial technology platform serving technology and growth companies. Qiagen soared 11% after a report that the European molecular testing company is seeing early takeover interest from private equity firms including EQT AB and Advent. Marex Group agreed to acquire Bright Point International to strengthen its presence in the Asia-Pacific region and expand access to China's markets.