TPC Group, a provider of products to chemical and petroleum-based companies, voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
TD Bank Group signed a definitive agreement to acquire First Horizon in an all-cash transaction valued at $13.4 billion, or $25 for each common share of First Horizon.
FirstDigital Telecom, a fiber-based carrier in the western United States, raised debt financing from a group of investors, including AllianceBernstein, Deutsche Bank, Guggenheim and Webster Bank.
Hilton Grand Vacations refinanced and increased the capacity under its existing revolving facility from $800 million to $1 billion. Bank of America will remain the administrative agent for the new revolving credit facility.
U.S. Bancorp entered into a definitive agreement to acquire MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group. Under the terms of the agreement, U.S. Bancorp will purchase MUFG Union Bank for approximately $8 billion.
Avantor entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital.
Hyatt Hotels entered into a definitive agreement to acquire Apple Leisure Group from affiliates of KKR and KSL Capital Partners for $2.7 billion in cash. Hyatt secured a financing commitment from J.P. Morgan to help support the acquisition.
A subsidiary of Ares Management entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment advisory and distribution business.
Platinum Equity entered into a definitive agreement to acquire Club Car from Ingersoll Rand in a transaction valued at approximately $1.7 billion. BofA Securities will lead the debt financing for Platinum Equity and Club Car in connection with the transaction.
M&T Bank and People’s United Financial entered into a definitive agreement under which M&T will acquire People’s United in an all-stock transaction. The implied total transaction value based on closing prices on Feb. 19, 2021, is approximately $7.6 billion.