Merger activity increased last week with six new multi-billion dollar deals announced and four deals completed.
The total value of the 19 deals announced in February was over $66 billion. The month of February also saw a new record set for SPAC IPOs filed with 96 SPAC IPOs raising over $30 billion.
The largest deal announced in the month of February was the acquisition of PRA Health Sciences (PRAH) by ICON Public Limited Company (ICLR) for $12 billion. Headquartered in Raleigh, North Carolina, PRA Health Sciences is a contract research organization that operates through two segments – Clinical Research and Data Solutions. The company provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries across the world. Headquartered in Dublin, ICON Public Limited Company is a clinical research organization. On February 24, 2021, ICLR announced that it is acquiring PRA Health Sciences in a cash plus stock deal at a premium of approximately 30% to PRA’s closing price as of February 23, 2021.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There were two new deals announced in the Deals in the Works section last week.