MergerLinks Daily Review
MergerLinks
Join a community of 250,000+ M&A professionals. Expand your network and discover new business opportunities.
Welcome to MergerLinks Daily Review.?Sign up here ?to get the full round up of your daily dose of blue-chip M&A news directly to your inbox.
GM, SDI will build $3bn battery manufacturing plant in Indiana.
Manchester United shares soar after tweet spurs sale speculation.
You can access today’s complete newsletter?here.
Scroll down for more…
Brookfield Renewable , one of the world's largest owners and operators of renewable power and climate transition assets, agreed to acquire the utility-scale Commercial Renewables business of Duke Energy Corporation , an American electric power and natural gas holding company, for $2.8bn.
"As one of the country's largest renewable energy operators, Brookfield has the resources to support the continued growth and success of the Commercial Renewables' portfolio. This sale is an important step in our transition into a purely regulated company with significant grid and clean energy investment plans that will deliver benefits to our customers and stakeholders," Lynn Good, Duke Energy Chair, President and CEO.
Duke Energy is advised by 摩根士丹利 , 富国银行 and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by? Pankaj Sinha ?and?Katherine Ashley).
Bunge , an agribusiness and food company, agreed to acquire Viterra , an agriculture company, from Glencore , a multinational commodity trading and mining company, for $18bn.
"The merger of Viterra with Bunge is expected to realise significant value for Glencore. Our investment in the agriculture sector dates back over 40 years and has grown from being a small grains trader to being part of a world leading, fully integrated global agriculture network. The combined group would be a premier pure-play agribusiness solutions company, well placed to meet increased global demand as well as the ongoing challenge of providing sustainable, traceable food and feed products to customers around the world. This would be underpinned by a rigorous focus on creating value for all stakeholders," Gary Nagle, Glencore CEO.
领英推荐
Bunge is advised by 美国银行 and Latham & Watkins (led by? Charles K. Ruck ?and? Max Schleusener ).
The merger of India’s most valuable lender and the country’s largest mortgage financier, which could create the world’s fifth most valuable bank, is nearing completion, with only one key step remaining that investors are eyeing.
The so-called ‘record date’ – or scheduled cut-off day for investors – to swap shares of Housing Development for HDFC Bank is expected to be announced within three weeks. The merged entity is likely to trade under the HDFC Bank ticker before July 20, ending the process that began in April 2022. The merger is unprecedented in India, creating a $168bn bank and impacting crores of customers and shareholders of both the companies apart from the group insurance and asset management businesses.
HDFC Bank is advised by 德勤 , Harsh Chandrakant Ruparelia, 法国巴黎银行 , 花旗 , Edelweiss Capital , 高盛 , 汇丰 , ICICI Bank , J.P. 摩根 , 摩根士丹利 , Nomura , Cravath, Swaine & Moore LLP (led by? Philip Boeckman ), Wadia Ghandy & Co. (led by? Gopal Bankar ?and? ashish ahuja ). Financial advisors are advised by 富而德律师事务所 (led by? Arun Balasubramanian ). Housing Development is advised by Bansi S. Mehta & Co. , Ambit Private Limited , Arpwood Capital , AXIS (AXIS Capital) , 美国银行 (led by? Raj Balakrishnan ), 瑞信 , IIFL (India Infoline Group) , JM Financial Ltd , Jefferies , Kotak Investment Banking , Motilal Oswal Financial Services Ltd , AZB & Partners (led by? Ashwath Rau ?and? Zia Mody ), Argus Partners (Solicitors & Advocates) , Singhi Advisors and Nova Dhruva Capital. Financial advisors are advised by Sullivan & Cromwell LLP (led by? Stephen Kotran ).
GM, SDI will build $3bn battery manufacturing plant in Indiana.
通用汽车 and 三星电子 have selected New Carlisle as the site of a new electric vehicle battery cell plant in Indiana. The companies announced in April the joint venture to build the more than $3bn electric vehicle battery cell plant without specifying the location.
The plant will create 1.7k manufacturing jobs, said Governor Eric Holcomb. The project is GM’s fourth joint venture battery cell factory. It has announced three others with South Korea’s LG Energy Solution. A 900-worker factory near Warren, Ohio, is starting to build cells, while plants in Spring Hill, Tennessee, and Lansing, Michigan, are in the works.
The new Indiana plant will house production lines to build nickel-rich prismatic and cylindrical cells and is expected to help significantly increase the accessibility and affordability of electric vehicles. The facility will have more than 30 GWh of capacity once finished.
Manchester United shares soar after tweet spurs sale speculation.
Manchester United shares surged after a tweet from a Qatari newspaper spurred speculation that the Premier League football club is closer to being sold. The stock soared as much as 15%, the biggest one-day jump since February. Al-Watan's tweet referred to "press reports" that a bid for the club from Qatari businessman Sheikh Jassim was a "success,"?Bloomberg ?reported.
The tweet was published at 9:41 p.m. Qatar time on Monday and went on to be cited by international newspapers such as the Daily Mail.?Sheikh Jassim and Ineos head Jim Ratcliffe are battling for control of Manchester United, which is currently owned by the Glazer family. Earlier this month, Jassim submitted his fifth and final bid for club.
Interested to find more??Sign up here ?to get full round up of your daily dose of blue-chip M&A news directly to your inbox.
You can access today’s complete newsletter here.