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Benzinga's Weekend M&A Chatter

Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday November 29 throught Sunday December 1, 2013:

ArcelorMittal/Nippon Steel & Sumitomo Metal Consortium Acquires ThyssenKrupp Steel USA for US$1.55B

The Deal:
ArcelorMittal (NYSE: MT) announced Friday that it has entered into a 50/50 joint venture partnership with Nippon Steel & Sumitomo Metal Corporation (OTC: OISTF) to acquire ThyssenKrupp Steel USA from ThyssenKrupp (OTC: TYEKF) for $1.55 billion.

The deal, which includes a six-year agreement to purchase two million tonnes of slab annually from TK CSA, is subject to regulatory approvals.

ArcelorMittal closed Friday at $17.17, a gain of more than 1%.

Source Says Petrofac Not Interested Foster Wheeler Deal

The Rumor:
Reuters reported Sunday that Petrofac (OTC: POFCY) is not interested in acquiring Foster Wheeler (NASDAQ: FWLT), according to sources. The UK's Sunday Times reported Sunday that Petrofac had entered a possible bidding war against Amec (OTC: AMCBF).

Reuters had reported interest by Amec in Foster Wheeler on November 26. Foster Wheeler has declined comment on the reports.

Foster Wheeler closed Friday at $30.33, a loss of $0.16.

Posted-In: News Rumors M&A Global Movers


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