Deals of the day-Mergers and acquisitions

Hudbay Minerals

02/03/2026 20:53

Adds BlackRock and Hudbay Minerals

March 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

BlackRock BLK.N has appointed J.P. Morgan and Goldman Sachs to sell its remaining 11.4% stake in Spanish energy firm Naturgy NTGY.MC through an accelerated bookbuild offering, a market filing showed. nL1N3ZQ12B

** Hudbay Minerals HBM.TO, HBM.N said it will buy the remaining shares in Arizona Sonoran Copper Company ASCU.TO for $1.48 billion, as the Canadian miner expands its footprint to capitalize on the growing demand for the red metal. nL4N3ZQ0WQ

** A consortium led by BlackRock's  Global Infrastructure Partners and Swedish private-equity firm EQT AB EQTAB.ST has agreed to buy U.S. power company AES Corp  for $33.4 billion, including debt, in one of the biggest acquisitions in the sector. nL4N3ZQ12Z

** Toyota 7203.T bumped its offer price for supplier Toyota Industries 6201.T, valuing the bid at $30 billion and ending a months-long battle with activist fund Elliott Investment Management, which had pushed for a higher price. nL6N3ZQ0BP

** American fund AIP and Bahrain-based industrial group Alba ALBA.BH have entered exclusive talks regarding the sale of Europe's largest smelter Aluminium Dunkerque, the companies said. nL6N3ZQ0JD

** Australia's Magellan Financial Group MFG.AX said that it will acquire all the issued shares of Barrenjoey Capital Partners that it does not currently own at an implied value of A$1.62 billion ($1.14 billion). nL1N3ZP0AK

 (Compiled by Rajarshi Roy Koyena Das and Sanskriti Shekhar in Bengaluru)

 ((Rajarshi.Roy@thomsonreuters.com))