Mergers and Acquisitions Recap: Goldman Sachs and Abbott Labs

Goldman Sachs (NYSE:GS) and Cinven will receive €1.8 billion ($2.4 billion) from Capital Partners, for Ahlsell, a Nordic construction products and machinery distributor, in what some call Europe’s largest private equity deal since the summer’.

Investing Insights: Wells Fargo, Goldman Sachs in the Lion’s Den.

Abbott Laboratories (NYSE:ABT) has made a development agreement on Wednesday with Galapagos, which will put it squarely in competition with Pfizer (NYSE:PFE) in a competition to develop a largely used drug for rheumatoid arthritis. Galapagos CEO Onno van de Stolpe calls the deal the “largest Phase 2 deal in the history of the industry”, and his company’s shares are thus up considerably in European trading.

On Tuesday a Delaware Chancery Court judge blocked BB&T’s (NYSE:BBT) attempt to buy BankAtlantic’s (NYSE:BBX) lending business, saying that the proposed deal favored BBX management over debtholders (as hedge fund investors had complained). BBX’s holding company, which owed $330 million to holders of its trust preferred securities, would have retained its loans in foreclosure, had the acquisition not been disallowed.

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