Deals of the day-Mergers and acquisitions

Summit Materials

02/12/2024 14:56

(Adds: Summit Materials, Mubadala Capital, Old National
Bancorp, EQT, Sidenor)
       Dec 2 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on Monday:

        ** Summit Materials  SUM.N  said rival Quikrete would
acquire the company in a cash deal valued at $11.5 billion, in a
move to capitalize on higher demand for building materials.
  
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        ** Abu Dhabi's Mubadala Capital will take CI Financial
 CIX.TO  private in a C$12.1 billion ($8.66 billion) all-cash
deal, including debt, the Canadian asset and wealth manager
said.
  
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        ** Regional lender Old National Bancorp  ONB.O  will buy
privately held Bremer Financial in a $1.40 billion
cash-and-stock deal, the companies said, creating a combined
bank with over $70 billion in assets.
  
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        ** Natural gas producer EQT  EQT.N  said that
alternative asset manager Blackstone  BX.N  would buy minority
stakes in some of its pipelines for $3.5 billion in cash through
a joint venture.
  
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        ** Basque steelmaker Sidenor has made an offer to buy a
29.9% stake in Spanish train maker Talgo  TLGO.MC  held by
global investment fund Trilantic, a source close to the
negotiations said, confirming an earlier report by Expansion
newspaper.
  
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    ** Italy's UniCredit  CRDI.MI  launched a surprise 10
billion euro ($11 billion) bid for domestic peer Banco BPM
 BAMI.MI , which CEO Andrea Orcel said would not get in the way
of a potential deal for Germany's Commerzbank  CBKG.DE .
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    ** Pipeline operator ONEOK  OKE.N  said on Sunday it would
buy the remaining shares of peer EnLink Midstream  ENLC.N  for
$4.3 billion in an all-stock deal, boosting its presence in the
Permian Basin amid increased consolidation in the U.S. energy
sector.
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    ** QatarEnergy has entered into an agreement with
TotalEnergies to acquire additional offshore exploration
interests in the Orange Basin off the coast of Namibia, it said
on Sunday.
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 (Compiled by Rajarshi Roy and Aamir Sohail in Bengaluru)
 ((Aamir.sohail@thomsonreuters.com))