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Mergers & Acquisitions

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Pembina Pipeline Corp. (PPL.TO, PBA) said it will acquire Kinder Morgan Canada Limited (KML.TO) and Cochin US from Kinder Morgan. The deal values Kinder Morgan Canada at approximately C$2.3 billion, or C$15.02 per share. Total purchase price is approximately C$4.35 billion. The deal includes the U.S....

Vistra Energy (VST) has agreed to acquire Ambit Energy for $475 million plus net working capital. Headquartered in Dallas, Texas, Ambit serves approximately 1.1 million residential customer equivalents in 17 states. Vistra anticipates Ambit will provide approximately $125 million to adjusted EBITDA...

Elanco (ELAN), a global animal health company, has agreed to acquire the animal health division of Bayer AG (BAYN). The total deal is valued at $7.6 billion with a 70 percent to 30 percent cash-to-equity mix. Bayer AG will receive $5.32 billion in cash, and $2.28 billion or approximately 68 million Elanco...

Shares of IMI plc (IMI.L) were gaining around 2 percent in the early morning trading in London after the specialist engineering company Tuesday announced the proposed acquisition of PBM Inc. for an enterprise value of $85 million or 70.3 million pounds. The deal will be closed within the next two...

Polymer materials company PolyOne Corp. (POL) agreed Monday to sell its Performance Products and Solutions (PP&S) business to SK Capital Partners for $775 million in cash. PolyOne expects to record a pre-tax gain of approximately $600 million at the time the sale is completed. With sales of approximately...

Mitie Group plc (MTO.L), a provider of facilities management and professional services, announced Monday that it has entered into an agreement to sell its catering and hospitality business, Mitie Catering, to CH&CO for a consideration of up to 85 million pounds in cash, on a debt-free, cash-free basis. The...

Applied Industrial Technologies, Inc. (AIT) agreed Monday to acquire Olympus Controls Corp., an automation solutions provider, including design, assembly, integration, and distribution of motion control, machine vision, and robotic technologies. The terms of the deal were not disclosed. The transaction...

Sterling Construction Company, Inc. (STRL) has agreed to buy Plateau Excavation, Inc. The deal is valued at $400 million with $375 million in cash and $25 million in Sterling stock and seller notes. Plateau Excavation is a provider of large-scale site infrastructure improvement contracting services....

CBS Corp. (CBS-A, CBS) agreed to merge with Viacom Inc. (VIA, VIAB) to make ViacomCBS Inc., thus ending years of on-and-off attempts two combine the world's two leading entertainment companies. The combined company will be a scale player globally, with leadership positions in markets across the U.S.,...

Brookfield Business Partners (BBU) has agreed to buy Genworth Financial's (GNW) majority interest in Genworth Canada, the largest private sector residential mortgage insurer in Canada. Genworth Financial's shares represent approximately 56.9% of Genworth Canada's outstanding common shares. The purchase...

CIT Group Inc. (CIT) said CIT Bank will acquire Mutual of Omaha Bank, the savings bank subsidiary of Mutual of Omaha. The purchase price of $1 billion will be comprised primarily of cash and up to $150 million of CIT common stock. The deal adds $6.8 billion in deposits. CIT Group expects the acquisition...

Canadian cannabis company Canopy Growth Corp. (CGC, WEED.TO) said it has agreed to acquire cannabinoid-based medical research firm Beckley Canopy Therapeutics. Financial terms of the deal were not disclosed. Beckley Canopy was formed as a joint venture in January 2018 between Beckley Research & Innovations...

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