M&A deals roundup: Merck, Seadrill, Kraft Heinz, Spirit Airlines and more

The pace of mergers and acquisitions remained strong this week, with Kraft Heinz, Engineering software firm Altair, and Spirit Airlines grabbing headlines. Here’s a list of other key deals this week:

Merck (NYSE:MRK) has acquired Modifi Biosciences, a developer of DNA modification-enabled cancer drugs, for $30M upfront and up to $1.3B in potential milestone payments.

Seadrill (NYSE:SDRL) +10.2% post-market Wednesday following a report it is in ongoing discussions with larger offshore drilling contractor Transocean (NYSE:RIG) about a potential merger.

DigitalBridge (NYSE:DBRG) is exploring a sale of Brazilian firm Scala Data Centers in a deal that could fetch $2B or more.

Summit Materials (NYSE:SUM) jumped 7% after a report that Quikrete Holdings approached the company about a takeover.

Brazilian meatpacker JBS (OTCQX:JBSAY) and Mexico’s Sigma Alimentos are among companies competing to buy Kraft Heinz’s (NASDAQ:KHC) Oscar Mayer business.

TKO Group (NYSE:TKO) has struck a deal to buy Professional Bull Riders (NYSE:PBR), On Location, and IMG in an all-equity transaction valued at $3.25 billion from Endeavor Group (NYSE:EDR).

Spirit Airlines (NYSE:SAVE) soared 16% after a report that the discount airline has had early-stage merger talks with Frontier Group (NASDAQ:ULCC).

Altair Engineering (NASDAQ:ALTR) rose 4% after a report that Siemens AG (OTCPK:SIEGY) is in talks about a possible takeover of the engineering software maker.

Thomson Reuters (NYSE:TRI) has acquired US-based startup Materia in a transaction that is complementary to its AI roadmap.

Smartsheet (NYSE:SMAR) rose 1.1% after background in the company’s proxy filing for its planned $8.4 billion sale to Vista Equity Partners and Blackstone (NYSE:BX) indicated another party was interested in a stock and cash bid.

Eni (NYSE:E) agreed to sell a 25% stake in its Enilive biorefining company Enilive to KKR (NYSE:KKR) for €2.94B (~$3.17B), giving the division a valuation of €11.75B.