Merger Monday: Nine Deals You Might Have Missed
- Monday's M&A and corporate activity featured nine notable deals.
- Sectors that saw activity range from utilities, REITs, media and more.
- Private companies, including Uber, also shared the spotlight.
U.S. equities were trading nearly flat early Monday afternoon despite a healthy dose of M&A and corporate activity making the headlines.
1. Duke Energy Corp (NYSE: DUK) has agreed to acquire Piedmont Natural Gas Company, Inc. (NYSE: PNY) for $4.9 billion, or $60 a share. The two companies are key partners in the $5 billion Atlantic Coast Pipeline project that will be the first major natural gas pipeline in Eastern North Carolina.
2. Ctrip.com International, Ltd. (ADR) (NASDAQ: CTRP), Qunar Cayman Islands Ltd (NASDAQ: QUNR), and Baidu Inc (ADR) (NASDAQ: BIDU) announced a three-way agreement in which Baidu has agreed to sell its stake in Qunar to Ctrip.
3. Equity Residential (NYSE: EQR) has agreed to sell 72 properties to Starwood Capital for nearly $5.4 billion. Equity Residential said it will use most of the proceeds to pay a special dividend between $9 and $11 per share.
4. Bluescope Steel, an Australian based producer of metal coated and painted steel buildings products, has agreed to acquire Cargill's 50 percent stake of North Star for $720 million.
5. ConAgra Foods Inc (NYSE: CAG) sale of its Ralcorp business hit a bump in the road, as the New York Post said that its final selling price could fall below the $2.5 billion to $2.7 billion expected range. Back in June the company expected to sell the unit for $3.0 billion to $3.5 billion.
7. AutoNation, Inc. (NYSE: AN), the largest new-car retailer, is in talks to acquire Samuels Auto Group, the 79th-largest dealership group with a reported revenue of nearly $735 million in 2014, according to Automotive News.
8. Uber is planning to raise around $1 billion through venture capital firms. The New York Times noted this will be the company's eighth round of financing and places a $60 billion to $70 billion valuation on the firm.
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