Hi, it’s Michelle in New York and happy Merger Monday. Welcome to today’s edition of the Deals newsletter where I’ll tell you about an interesting twist in how a large carveout today was structured. We also have a fresh chip deal brewing.
Today's top stories
Investors welcomed PerkinElmer’s announcement today that it’s divesting its applied, food and enterprise businesses to private equity firm, New Mountain, as it looks to become a “pure-play” life sciences and diagnostics company. It’s the latest example of big strategics selling or spinning off non-core assets to become more focused companies, a trend keeping us busy even as M&A slows globally. —Michelle F. Davis