Yahoo Finance September 15, 2020
(Reuters) – After adapting to working from home in the COVID-19 pandemic, cash-rich technology and healthcare companies have now mastered dealmaking from home.
This week, Nvidia Corp unveiled a $40 billion agreement to acquire chip maker Arm Ltd from SoftBank Group Corp, while Gilead Sciences Inc inked a $21 billion deal for biotech company Immunomedics Inc.
They are the latest examples of companies whose business is minimally affected by, or in some cases benefiting from, the pandemic’s financial fallout and which are embarking on big acquisitions.
“They’ve largely learned to do work from home for their own business, and now it’s about strategic deployment of capital,” said Tom Miles, co-head of mergers and acquisitions (M&A) for the Americas at Morgan...