Credit & Capital

M&A

Merck Buys OncoImmune in COVID Treatment Move

The $425 million deal gives Merck access to a promising therapy for treating seriously ill COVID-19 patients.

Matthew Heller
November 23, 2020
The Cloud

Microsoft Cloud Provider AvePoint Going Public Via Apex Technology SPAC

AvePoint is estimating revenue to grow 26% year-over-year to $148 million for fiscal 2020.
Bankruptcy

Guitar Center Files Chapter 11 to Cut Debt Load

The COVID-19 pandemic has plunged the retailer into a liquidity crisis that "could not be resolved through short-term measures."
Credit

Mnuchin to Let Emergency Credit Programs Lapse

If the economy "really goes south," the Treasury Secretary "will go down in history as the man who took away a safety net when it was really needed.”
Capital Markets

China’s Negative Yield Bond Gets Positive Response

The strong demand "shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds"
Credit

PPP “Loan Necessity” Form Causes a Stir

A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.
M&A

Nasdaq to Buy Financial Fraud Detection Company Verafin

The $2.75 billion deal is the largest for the exchange since it acquired OMX in 2008 for $3.8 billion.
IPOs

Video Game Company Roblox Files for IPO

The user-generated gaming platform, hugely popular with kids, has yet to turn a profit.
Bankruptcy

Norwegian Air Files for Bankruptcy in Ireland

The filing follows the decision of Norway’s government last week not to provide the low-cost airline with further financial aid.
The Cloud

IBM to Buy Software Company Instana

The company said the move is part of its hybrid cloud and AI push.
IPOs

Airbnb IPO Filing Shows Rebound From Virus Shock

“Our business rebounded faster than anyone expected, and it showed that as the world changes, our model is able to adapt."
M&A

PNC to Buy BBVA’s U.S. Unit for $11.6B

The cash deal would be the second largest in the banking sector since the 2008 financial crisis.
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