Two health care companies that serve patients in California and across the country have announced plans to merge. Sanford Health and UnityPoint Health signed a letter of intent for a planned $11 billion merger. If the plans are completed, the resulting company would be one of the top 15 not-for-profit health care companies across the country. The combined entity would own 76 hospitals in 26 states and nine different countries. It would also employ 2,600 doctors and 83,000 total staff. In a statement, the CEO of Sanford Health said that both companies were already successful and wanted to build on their records.
California residents and others who use Medicaid may be pleased to hear that WellCare and Centene shareholders have agreed to a merger. The deal would see Centene purchase WellCare for $15 billion. According to Centene's CEO, the combined company will be better able to serve the needs of those who rely on government health benefits. He also noted that the combined entity would make it easier for patients to see improved health outcomes.
Two defense technology companies with customers in California and across the country are working to complete a merger after they received regulatory approval for the acquisition. Harris Corporation set a closing date of June 29 for its all-stock merger with L3 Technologies. After the merger is completed, the new company will take the name L3Harris Technologies, Inc. Shares of the company's stock will trade on the New York Stock Exchange under a new symbol, replacing both companies' earlier presence for investors. People who own L3 stock will receive 1.3 shares in the new company for each share they currently own.
California-based Google intends to purchase Looker for $2.6 billion. Looker has 1,600 customers and offers services pertaining to the multi-cloud. Google has said that it will continue to be friendly toward open source projects that run on the cloud. It said that it wanted to purchase Looker because it had quality data governance protocols in place in addition to running on modern cloud databases.
A couple of the largest aerospace companies in the world, which have locations in California and other states, have decided to merge into one giant company that's expected to generate more than $74 billion in sales per year. After the merger, the shareholders in the smaller of the two companies will own 43% of the new company's stock while the shareholders in the larger company will own 57%. The headquarters of the new company will be located in the Boston Metro area.
California residents may have heard about the potential merger between Fiat Chrysler and Renault. If the two companies were to come together, it would create the third-largest automaker in the world. However, talks were put on hold after the French government asked for more time to talk with Renault ally Nissan. This caused Fiat Chrysler to pull out of talks, and they blamed politics for making such a decision.
Investors in California and around the country who follow the auto sector will likely be aware that Groupe Renault and Fiat Chrysler Automobiles have announced merger plans. If the deal is approved by company executives and withstands regulatory scrutiny, it would create the world's third-largest carmaker. According to Fiat Chrysler, ownership of the newly formed company would be divided equally between Groupe Renault and FCA shareholders.
Many California businesses seek to improve and expand their market strength and offerings through mergers and acquisitions. The same is true of creative companies like comic book publishers. Two interesting comics publishers have announced their merger, bringing together the producers of "Comics for Everyone" and "Rick & Morty" into one new publishing firm. Oni Press is merging with Lion Forge Comics to create a larger independent house that competes with the major players in the comics market like Marvel and DC.
Craft-brewed beers have become extremely popular in California and around the country in the last two decades, and independent breweries that were once struggling are now extremely successful. The Boston Beer Company, which is best known for its Samuel Adams line of beers, has long been one of the leaders in the craft-brewed sector, but smaller local companies like the Dogfish Head Craft Brewery have been taking a larger share of the market in recent years.
Californians who follow business news might be interested in learning about a merger that was recently announced between McGraw-Hill Education and Cengage Learning Holdings II, two large educational publishers. The companies announced that they will merge together in an all-stock deal to create the second-largest publisher of educational materials in the U.S.