A flurry of M&A activity sees Nvidia buy Arm for $40bn, Gilead acquire Immunomedics for $21bn, GardaWorld fight for G4S and TikTok team up with Oracle
- Breaking: Takeover bid for troubled G4S
- Introduction: Three important deals
- TikTok: ByteDance ‘to partner with Oracle’ in US
- Job cut fears as Nvidia buys ARM
- ARM founder: It’s a disaster
- Stocks jump in Asia and Europe amid vaccine hopes
Back in London, G4S has hit back at Garda World’s takeover bid, saying it “significantly undervalues” it.
In a statement to the City, G4S says it unanimously rejected the three approaches from GardaWorld, and adds that “the timing of the proposal is highly opportunistic, coming as it does at a time of severe turbulence in global financial markets.
Shares in Nvidia have jumped sharply in early trading, up over 6% at $517.
They’re now up over 120% since the start of the year, lifted by the wider rally into tech stocks.
Nvidia shares up 8% so that pays for most of the Arm deal