M&A Features

Hologic to acquire aesthetics firm Cynosure

Hologic has agreed to acquire Nasdaq-listed Cynosure by April this year as it looks to tap the beauty industry for further growth. The deal, which has been approved by the boards of both companies, can be valued at USD 1,440 million, including debt and net of cash. The offer price of USD 66 apiece represents a 28.2 per cent premium over Cynosure’s close of USD 51.50 on 13th February, the last trading day prior to the announcement. According to Zephyr, the M&A database published by Bureau van Dijk, this is Hologic’s first acquisition since its USD 3,743 million purchase of Gen-Probe, a nucleic acid testing system provider, in 2012.

Snap files for IPO

Snap, the parent of social media photo sharing application Snapchat, is trying its hand at the capital market by filing paperwork with the New York Stock Exchange for an initial public offering worth around USD 3,000 million. Founders Evan Spiegel and Robert Murphy, as well as venture capitalists Lightspeed and Benchmark Capital, are expected to divest their stakes through the deal by the end of this year. Underwritten by financial giants including Morgan Stanley, Goldman Sachs and JP Morgan, the IPO is the second largest to have been announced globally in the past four years, according to Zephyr, the M&A database published by Bureau van Dijk. The highest valued IPO during the period is Hotel Lotte’s KRW 5,742 billion (USD 5,002 million) planned listing on the Korea Exchange, which is also set to take place this year.