Deals of the day-Mergers and acquisitions

Peak Rare Earths

15/05/2025 15:16

Adds: Enbridge  Updates: Dick's Sporting Goods

May 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** Canada's Enbridge  said that Stonlasec8 Indigenous Alliance will buy a 12.5% stake in the pipeline operator's Westcoast system for C$715 million ($511.19 million), as Indigenous communities look to own stake in energy firms.

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**  Dick's Sporting Goods  has agreed to buy smaller rival Foot Locker  for $2.4 billion, the second major footwear deal this month after the buyout of Skechers, as U.S. retailers look to navigate a tough demand landscape.

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** Belgian bank KBC Groep  said it has reached a cash agreement to acquire 98.45% of 365.bank, in a deal valuing the Slovakia-based lender at 761 million euros ($852 million).

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** Convenience food manufacturer Greencore  said it had agreed to the terms of a recommended acquisition of UK fresh food provider Bakkavor Group , in a deal valued at 1.2 billion pounds ($1.59 billion).

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** Strathcona Resources  has sold all of its Montney assets for about $2.84 billion and acquired Hardisty Rail Terminal as part of its "core area consolidation" strategy, the Canadian oil and gas producer said on Wednesday.

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** Peak Rare Earths  said that Chinese rare earths producer Shenghe Resources <600392.SS> will acquire the Australian firm for A$150.5 million ($96.62 million), in addition to the full amount raised under Peak's proposed A$7.5 million entitlement offer.

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** Insurance Australia Group  said it will buy The Royal Automobile Club of Western Australia's insurance business and entered a licensing agreement for its home, motor and niche insurance products for a total of A$1.35 billion ($867.51 million).

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** Databricks said on Wednesday it would buy database startup Neon in its latest deal valued at about $1 billion, aiming to strengthen its analytics platform with technology that can help businesses develop and use artificial intelligence agents more easily.

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** Dick's Sporting Goods  was nearing a deal to buy rival footwear retailer Foot Locker  for about $2.3 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

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 (Compiled by Rajarshi Roy and Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))