M&A IN Pipeline 20181005


mergers

DEAL OF THE DAY:  North American drilling contractor Precision Drilling Corp said it would buy Trinidad Drilling Ltd in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services.

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MORE DEALS:

Blackstone

** BackBlstone Group LP said it has agreed to acquire life sciences investment firm Clarus, in an effort by the world’s largest alternative asset manager to scale up its investments in healthcare.

** Intu Properties shares jumped more than 27 percent on Friday, lifted by news of a potential cash takeover offer for the business as it grapples with a downturn in Britain’s bricks-and-mortar retail sector.

** Russian farming conglomerate Rusagro said it had acquired the rights to purchase a controlling interest in Quartlink Holding Limited which owns the holding company Solnechnye Producty.

** Steinhoff’s Mattress Firm Inc, the largest U.S. mattress retailer, has filed for voluntary bankruptcy protection, giving it breathing room to restructure and shore up its finances as its South African parent company fights for survival.

** Italy’s Salini Impregilo is working with Bank of America Merrill Lynch and advisers Vitale & Co on options for a possible full or partial takeover of troubled builder Astaldi, sources close to the matter said.

** Italian broadcaster Mediaset and infrastructure fund F2i successfully took over Italian masts group EI Towers as investors tendered shares equivalent to 97.45 percent of its capital, preliminary data published by the Milan bourse showed.

** Egypt has signed an agreement with three banks to manage the sale of a 24 percent stake in state oil company Engineering for Petroleum and Process Industries (ENPPI) on the Egyptian stock exchange, the petroleum ministry said.

** Hootsuite Inc, a Canadian company that describes itself as the world’s most widely used platform for managing social media, is exploring a sale that could value it at more than $750 million, people familiar with the matter said. (Compiled by John Benny and Soundarya J in Bengaluru)

M&A IN Pipeline 20181004


** Comcast said it had secured over 75 percent of Sky’s shares, bringing it closer to finalising the $40 billion takeover of the British pay TV group.

Blackstone

** Blackstone Group said it would acquire global life sciences investment firm Clarus for an undisclosed amount, as the investment manager pushes deeper into the healthcare sector.

** Honda Motor Co Ltd will invest $2.75 billion and take a 5.7 percent stake in General Motors Co’s Cruise self-driving vehicle unit, to jointly develop autonomous vehicles for deployment in ride services fleets around the world.

** Smiths Group said it would buy United Flexible Inc, a U.S.-based maker of parts for aircraft engines, from private equity firm Arlington Capital Partners for an enterprise value of $345 million.

** Barnes & Noble Inc said it would explore strategic options after several parties, including founder-chairman Leonard Riggio, showed interest in buying the bookseller.

** Saudi British Bank (SABB) and smaller rival Alawwal Bank are merging to create Saudi Arabia’s third-biggest lender with a market capitalization of about $17.2 billion.

** Italian state-owned bank Monte dei Paschi di Siena is close to selling its Belgian unit to private equity firm Warburg Pincus in a 50 million euro ($57 million) deal, a source familiar with the matter said.

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