Market Overview

Benzinga's Weekend M&A Chatter

Share:
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

 

Related Articles (FWLT + AMCBF)

View Comments and Join the Discussion!

Dr. Changli Wang Resigned as Chairman and CEO of Hollysys Automation Technologies, Baiqing Shao Named New CEO

Bioniche Life Sciences Horse Product Approved by FDA for Sale in US