Driving Force Collision Network has acquired Brothers Auto Body in Cromwell, Connecticut, adding its ninth location and its first in the state. The transaction closed Oct. 2 and was announced Oct. 28. The deal carries Driving Force, an MSO built around luxury and electric vehicle repairs that require OEM certification, into a fourth Northeast state […]
AkzoNobel Confirms Plan to Sell European Refinish Business to Win EU Approval of Axalta Merger
AkzoNobel’s CEO said the European refinish sale and Axalta’s North American wood coatings sale are the only remedies regulators have requested. AkzoNobel N.V. confirmed Oct. 21 that it plans to sell its European vehicle refinish business to win European Commission approval of its roughly $25 billion merger with Axalta Coating Systems Ltd., while Axalta plans […]
Allstate’s Arity to Acquire Traffic Data Provider INRIX
Deal pairs Arity’s driving-behavior data with INRIX’s traffic and roadway analytics. Arity, the mobility data and analytics subsidiary of The Allstate Corp., has agreed to acquire substantially all the assets of INRIX, a transportation intelligence and mobility analytics provider based in Bellevue, Washington. The companies announced the agreement Oct. 16 and expect the transaction to […]
AkzoNobel Sets Nov. 30 Extraordinary Meeting on Axanzo Name and Final Board Seats
Shareholders will vote to adopt the Axanzo N.V. name and seat three non-executive directors ahead of the Axalta merger’s expected early 2027 close. AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) will hold an extraordinary general meeting Nov. 30 at which shareholders will vote on renaming the company that emerges from its planned merger with Axalta Coating […]
Copart Completes $1.9 Billion Acquisition of ACV Auctions
ACV will operate as an independent Copart subsidiary under its existing leadership team. Copart, Inc. (NASDAQ: CPRT) has completed its acquisition of ACV Auctions Inc. for $10.50 per share in cash, closing the approximately $1.9 billion deal Oct. 15 after its tender offer expired with about 68.43% of ACV’s outstanding shares tendered. ACV’s stock has […]
CCC Intelligent Solutions to Be Taken Private by GTCR, Elliott in $6.1 Billion Deal
Private equity firm and activist investor agree to buy the claims and repair software provider after a months-long sale process. CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCC) has agreed to be acquired by a consortium of private investment firms led by GTCR and including Elliott Investment Management L.P. in an all-cash transaction with an enterprise […]
Penske Corp. and Mitsui to Take Penske Automotive Group Private in $16.3 Billion Deal
Penske Automotive Group Inc. (NYSE: PAG) has agreed to be taken private by its two largest shareholders, Penske Corp. and Mitsui & Co. Ltd., which will pay $212 per share in cash for the stock they do not already own. The deal, announced Oct. 15, values the Bloomfield Hills, Michigan-based dealership group at an enterprise […]
AkzoNobel and Axalta Choose Axanzo as Name for Combined Company
AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) and Axalta Coating Systems Ltd. (NYSE: AXTA) will operate under the name Axanzo once their planned merger closes, the companies announced Oct. 15. The combined company expects to trade under the ticker symbol AXZ on the New York Stock Exchange and Euronext Amsterdam after closing. The companies said closing […]
CCC Reportedly in Advanced Sale Talks With GTCR, Elliott
Private equity firm GTCR and activist investor Elliott Investment Management are reported to be in advanced talks to acquire CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCC), Reuters reported Oct. 9, citing a source familiar with the matter. A final agreement had not been reached, and the source did not disclose financial terms, according to Reuters. […]
Copart Extends ACV Auctions Tender Offer to Oct. 15 as Tendered Shares Pass 50%
Copart, Inc. (NASDAQ: CPRT) has extended its $10.50-per-share cash tender offer for ACV Auctions Inc. (NYSE: ACVA) a second time, moving the expiration to 5 p.m. EDT Oct. 15 to allow the federal antitrust waiting period on the deal to run out. The extension, announced Oct. 8, comes as tendered shares have climbed past the […]
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