June 6, 2018
- Alphabet (GOOG): MarketWatch reported that European Union antitrust authorities are planning to fine Alphabet Inc. up to $11 billion for antitrust issues related to the company’s Android operating system.
- UnitedHealth (UNH): UnitedHealth Group Incorporated announced that its Board of Directors authorized the company to repurchase 100 million shares of its common stock, which represents approximately 10% of the company’s total outstanding stock. The repurchase authorization replaces a prior authorization under which approximately 29 million shares remained as of May 31, 2018.
- Fortive (FTV) and Johnson & Johnson (JNJ): Fortive Corporation announced that it made a binding offer to purchase Johnson & Johnson’s Advanced Sterilization Products business for approximately $2.7 billion, in cash. Fortive stated that it expects the acquisition to be accretive to its adjusted net earnings in the first full year following the acquisition, which it expects to occur no later than early 2019.
- Plug Power (PLUG): Plug Power Inc. announced that it acquired American Fuel Cell, a privately-held developer of technology for fuel cells.
- Devon Energy (DVN), EnLink Midstream Partners (ENLK) and EnLink Midstream, LLC (ENLC): Devon Energy Corporation and EnLink Midstream Partners L.P. announced that Devon entered into an agreement to sell its ownership interests in EnLink Midstream Partners, LP and EnLink Midstream, LLC to an affiliate of Global Infrastructure Partners, an independent infrastructure fund manager, for $3.125 billion. Additionally, Devon announced that its board of directors has increased the size of the company’s share-repurchase authorization to $4 billion, from $1 billion.