SpaceX, Cargill, DraftKings, and WeWork Complete Major Mergers And Acquisitions

It’s the summer of love and big business is just around the corner. In numerous industries, affairs between various big players develop into full-fledged unions in a series of high-profile mergers, acquisitions and partnerships this week.

SpaceX, DraftKings and the agricultural corporation Cargill are each ready to add new companies to their corporate portfolios. WeWork, meanwhile, signs a new partnership with commercial real estate company Cushman & Wakefield.

The price is correct

It’s a buyer’s market, and that market is hot, hot, hot. Even Elon Musk’s notoriously anti-acquisitions space company SpaceX is joining the fun with the purchase of satellite data startup Swarm Technologies. Meanwhile, DraftKings picked up a cyber casino competitor in Tilman Fertitta’s Golden Nugget Online, and Cargill expanded its chicken game with the purchase of poultry producer Sanderson Farms.

A few details about the offers:

• Swarm Technology and its 120 “tiny SpaceBee satellites” are slated to become a wholly owned subsidiary of SpaceX. Although the financial details are not yet known, Swarm was last valued at $ 85 million in a funding round that closed in January 2019, according to the Pitchbook. The company’s SpaceBee fleet is believed to be tied into SpaceX’s existing Starlink satellite network.
• As demand for poultry soars, Cargill and agricultural investment firm Continental Grain have agreed to buy Sanderson Farms for $ 4.5 billion.
• DraftKings has agreed to acquire Golden Nugget Online Gaming for $ 1.6 billion in stock, giving the daily sports fantasy and gambling site access to Golden Nugget’s 5 million trusted online casino customers.

Play the odds: According to experts, virtual casino players are worth seven times as much as sports betting customers. It doesn’t take a Sheldon Adelson-style casino magnate to realize that in the time it takes a player to miss a soccer bet, a player can lose a few blackjack hands.

WeWork with new friends: WeWork is undergoing a $ 150 million merger with commercial real estate company Cushman & Wakefield, valued at $ 9 billion including debt, the often contested shared office company. But can the duo respond effectively to the surge in remote work?