Paypal acquires Paidy, Sanofi $1.9 billion deal, Britney Spears’ father files to end conservatorship

Yahoo Finance's Julie Hyman breaks down Wednesday’s business headlines.

Video transcript

JULIE HYMAN: PayPal is expanding further into the buy now, pay later space with plans to acquire Paidy for about $2.7 billion. That's P-A-I-D-Y. The Japanese unicorn allows users to make payments with cash in person at local convenience stores. That's because nearly 3/4 of purchases in Japan are still made with paper currency, according to Paypal. The company expects the acquisition to close in the fourth quarter.

And we've got a duo of big pharma deals this morning. Perrigo is buying HRA Pharma for about 2.1 euros from investment firms Astorg and Goldman Sachs Asset Management. HRA is based in Paris, it sells over-the-counter blister care, women's health and scar care products. And French drugmaker Sanofi plans to purchase Kadmon Holdings for $1.9 billion. That's about $950 a share. You can see those Kadmon shares surging this morning. Kadmon makes an approved treatment for chronic graph versus host disease. It also has autoimmune disease therapies in its pipeline.

And Britney Spears' father has filed a petition to stop being conservator of her estate. Jamie Spears has served in that role since it was established in 2009 related to the pop star's mental health issues. He was also conservator of her person until 2019 when Jodi Montgomery, who's a professional conservator, took over in a temporary capacity. Forbes, by the way, estimates Britney's net worth at $60 million. So Soz, a lot of stake here obviously for her personally, but also for her from a business perspective as to what happens from here.

BRIAN SOZZI: Sure, and here's your fun fact of the morning, Julie. Britney Spears, four solo number one singles on the US Billboard Hot 100. I mean, it's Britney. I mean, she's had a lot of hits. No wonder why she's got all that money, right?

JULIE HYMAN: I'm surprised it's not more than four actually. I would have put it higher.

BRIAN SOZZI: Just reporting what I have.