|
By Matthew Quinn
The second quarter got off to slow start in terms of mergers and acquisitions, with just five deals worldwide valued at over $1 billion during the week ended April 9, according to data from Thomson Reuters. Only one deal involving US companies topped the $1 billion mark.
Deal-making for the week was also dominated by the energy sector.
The largest deal – or at least attempted deal – was New Hope Corp.'s $3.4 billion offer for Australia's Macarthur Coal. New Hope, also Australian, is bidding against US-based Peabody Energy Corp. and Hong Kong's Noble Group for the world's biggest producer of pulverized coal used by steelmakers. Others are expected to pursue Macarthur.
Canadian oil company Talisman Energy agreed to sell natural gas fields in Alberta and Ontario for $1.9 billion to undisclosed buyers.
The largest deal involving US companies was natural gas and oil company SandRidge Energy's acquisition of Arena Resources for $1.5 billion.
Outside of the energy sector, the biggest deal was a three-way cross-shareholding agreement between Renault, Daimler and Nissan. The three automakers agreed to develop a new generation of small cars, share engines and cooperate in small commercial vans going forward in order to cut costs and boost profits, Dow Jones reported. As part of the tie-up, Renault and Nissan will each hold 1.55 percent of Daimler and Daimler will hold a 3.1 percent stake in each of Renault and Nissan. Daimler's stake in Nissan is valued at $1.7 billion.
Japan's Mori Trust Sogo REIT acquired Tokyo's Shiodome Building for $1.2 billion in another large deal.
 |
in CFO Conversations by 
Subscribe to this comment's feed
