Adobe & Figma terminate merger, Nippon Steel to buy U.S. Steel: 4 big deal reports
Investing.com — Here is your Pro Recap of 4 head-turning deal dispatches you may have missed this week: Adobe Systems and Figma mutually agree to terminate merger, Nippon Steel to acquire U.S. Steel, Warner Bros. Discovery and Paramount in merger talks, and Aon to acquire NFP.
Looking to build a market-betting portfolio for 2024? Join InvestingPro now and access the AI-powered strategy that outperformed the market by 670% over the last decade.
Adobe Systems (NASDAQ:ADBE) and Figma mutually agreed to call off their previously planned merger, as revealed in a press statement on Monday.
Initially made public on September 15, 2022, the proposed acquisition of Figma by Adobe was to be carried out through a mix of cash and stock transactions. However, this agreement will no longer be pursued, as stated by both companies.
This joint decision to abandon the merger implies a strategic reconsideration or a change in circumstances, leading both companies to reevaluate the benefits and feasibility of the merger. The deal had not secured the required approvals from regulatory bodies such as the European Commission and the UK Competition and Markets Authority.
“Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Shantanu Narayen, chair and CEO, Adobe.
Japan's Nippon Steel (TYO:5401) announced its acquisition of the United States Steel (NYSE:X), commonly known as U.S. Steel. The deal involves an all-cash payment of $55 per share, valuing U.S. Steel at $14.1 billion. With debt inclusion, the total enterprise value of the transaction reaches $14.9B.
Following the announcement, the rating agency S&P placed Nippon Steel's 'BBB+'
Read more on investing.com
