The rise in equity markets and low funding costs encouraged chief executives with strong balance sheets to spend their cash on buying growth. Nvidia (NVDA) which makes the microchips used for games, said it was buying U.K.-based chip designer Arm from SoftBank (JP:9984) for $40 billion; U.S. drugmaker Gilead Sciences (GILD) paid $21 billion to acquire biotech Immunomedics (IMMU) and Verizon Communications (VZ) snapped up Tracfone, a unit of Mexican telecom América Móvil (AMOV) for $6.25 billion. Technology deals are soaring, rising 18.6% in value from a year ago to mark the highest level since 2000, Refinitiv data shows. Read More...
The rise in equity markets and low funding costs encouraged chief executives with strong balance sheets to spend their cash on buying growth. Nvidia (NVDA) which makes the microchips used for games, said it was buying U.K.-based chip designer Arm from SoftBank (JP:9984) for $40 billion; U.S. drugmaker Gilead Sciences (GILD) paid $21 billion to acquire biotech Immunomedics (IMMU) and Verizon Communications (VZ) snapped up Tracfone, a unit of Mexican telecom América Móvil (AMOV) for $6.25 billion. Technology deals are soaring, rising 18.6% in value from a year ago to mark the highest level since 2000, Refinitiv data shows.
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