6 big deal reports: SAP mulls sale of Qualtrics stake

By Davit Kirakosyan

Investing.com -- In one of the biggest M&A announcements this past week, SAP said it may unload its stake in Qualtrics. Here’s the full list of the most recent head-turning deal dispatches, as covered first on InvestingPro.

Qualtrics shares surge as SAP explores a sale of its stake

Shares of Qualtrics International (NASDAQ:XM) jumped more than 32% on Thursday after SAP (NYSE:SAP) said it might sell its stake in the company as part of its effort to streamline its portfolio. This move aligns with the company's strategy established during Qualtrics' 2021 IPO, and SAP said it "believes that this potential transaction could unlock significant value for both companies and their shareholders."

SAP emphasized that since its acquisition of Qualtrics in 2018, the company has seen significant growth, with a 3.5x increase in revenue to around $1.5 billion while delivering profitability. Additionally, Qualtrics has expanded its offerings and gained widespread adoption among enterprise customers.

Qualtrics International shares closed the week with around a 37% gain.

Apollo, Claure Group explore buyout of Millicom

Millicom International Cellular SA (NASDAQ:TIGO) shares jumped more than 23% after its board of directors confirmed that talks are underway with Apollo Global Management (NYSE:APO) and Claure Group about a potential acquisition of all outstanding shares in Millicom. However, there is no guarantee that a deal will occur or what the terms, timing, or form of such a deal might be.

Millicom shares closed the week with a 19% gain.

Murdoch pulls Fox, News Corp merger proposal

News Corporation (NASDAQ:NWSA) said Tuesday that its board of directors received a letter from Rupert Murdoch withdrawing the proposal to merge News Corp and Fox Corp (NASDAQ:FOXA). Murdoch stated that he and Lachlan Murdoch have concluded that such a combination is not in the best interest of the shareholders of both companies at present.

Shares of News Corporation finished the week with a 6% gain, while Fox Corporation was up 7% for the week.

Sumo Logic surges on rumors of takeover interest from private equity firms

Sumo Logic (NASDAQ:SUMO) shares jumped more than 28% on Monday after rumors of interest from private equity firms emerged. The Information, a tech-focused business publication, reported that several well-known private equity firms - including Thoma Bravo, Vista Equity Partners, and Francisco Partners = could be considering a takeover. The report didn't specify if discussions have taken place or if a deal is certain.

Shares closed the week with a 54% gain.

Xylem-Evoqua and Qiagen round out the biggest M&A news

Xylem (NYSE:XYL) will acquire Evoqua (NYSE:AQUA) in an all-stock transaction valued at $7.5B, the companies announced.

Upon closing the transaction (anticipated mid-2023), Xylem shareholders will own approximately 75% and Evoqua shareholders will own approximately 25% of the combined company on a fully diluted basis.

Evoqua shares gained more than 15% on Monday following the announcement.

Qiagen (NYSE:QGEN) is reportedly evaluating the option of selling a minority stake in its bioinformatics unit, as per a Bloomberg report citing knowledgeable sources.

***

If you’re interested in upgrading your search for new investing ideas, check out InvestingPro.