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Week in Review: Yahoo, Actavis, and Seamless

Yahoo’s $1.1 billion acquisition of Tumblr dominated the news this week. While it was certainly newsworthy, some believe the deal was a mistake — especially since Yahoo already failed a similar acquisition over a decade ago with GeoCities. Also interesting — Mayer’s shopping spree continues, as Yahoo already made another acquisition this week.

Even excluding the Yahoo deal, this week was host to several mega deals: Actavis-Warner Chilcott, Seamless-GrubHub, Apax-rue21, and a rumored KKR-Saks-Neiman Marcus. Seems like M&A activity is certainly heating up. Or at least for the big dogs.

Actavis buying Warner Chilcott in $8.5B Deal: Actavis, a global pharmaceutical company, announced on Monday its acquisition of Warner Chilcott. While the $8.5 billion price tag is notable, the more interesting story lies in the fact that the merged companies will be incorporated in Ireland for tax reasons.

Tim Cook, Lawmakers Square Off Over Taxes: Speaking of taxes,  Apple’s CEO Tim Cook spent some time in front of Congress this week defending Apple’s tax practices. The technology giant was accused of dodging taxes on some overseas revenue.  And, for fun, here’s Allan Sloan’s 6-step guide to dodging taxes just like Apple.

Google, Like Facebook, in Talks to Buy Waze: Google is looking to go head-to-head with Facebook — at least for an acquisition. Rumors emerged this morning that Google is considering buying Waze, the Israeli mobile satellite navigation startup. Since Facebook is already in conversation with the startup, a bidding war may ensue, and we know what that means.

Seamless and GrubHub Confirm Merger: The two companies that revolutionized online food ordering have become one. On Monday, Seamless and GrubHub officially confirmed they are merging, with GrubHub’s CEO Matt Maloney becoming CEO. Will the new company threaten to monopolize the industry?

Rue21 to Sell Itself to Apax for $1.1 Billion: Just when you thought the deal making was over, rue21 (NASDAQ: RUE.O) announced its sale to Apax Partners for about $1.1 billion. However, the firm is requesting a 40-day go-shop period. Guess they think they can run their go-shop better than Dell.

Can KKR Dance the Saks Two-Step?  KKR is rumored to be considering an acquisition of both Saks Inc. and Neiman Marcus for a major consolidation play in luxury retail. While there may be evident synergies between the two companies, timing the two deals may be a bit difficult.

Did you hear?

– Jamie Dimon Survives Shareholder Meeting
– David Karp Tweeted about Yahoo Acquisition in 2009
– Investment Bankers in Connecticut Start a Crowdfunding Site
– Secondary Buyouts on the Rise
– Icahn Preparing $5.2 Billion Loan for Rival Dell Bid
– JCPenney Gets $2.25 Billion Loan [Video]
– Softbank Gets State Approval for Sprint Acquisition

Thanks to Magnus Hoij for the photo.

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