Enterprise Products Partners (NYSE: EPD) acquired Whitethorn Pipeline Company and Enterprise EF78, along with Western Midstream Partners' (WES) interests, for $375M in cash, gaining full ownership of assets including a crude oil pipeline and natural gas liquids fractionators, and agreeing to acquire Western Midstream's (WES) 15% interest in Panola Pipeline Company for $25M.
Sanofi's ADRs surged 3.2% on news of private equity interest in its consumer health unit, potentially valued at $20 billion, amid plans for a separation announced in late October.
Capital One (COF) is exploring the acquisition of Discover Financial Service (DFS), with ongoing discussions and no guarantee of a purchase, as reported by Bloomberg; both companies have yet to comment, and Discover is scheduled to present at the UBS Financial Services Conference on Feb. 26.
Sidley represents MDD in its acquisition by Davies, integrating MDD's forensic accounting expertise into Davies' Global Solutions division to enhance its global capabilities, showcasing Sidley's prominence in transatlantic insurance industry M&A.
Uniti (NASDAQ:UNIT) surged 5.5% in after-hours trading following reports of discussions for a potential merger with Windstream, considering a stock-based deal where Uniti would retain its public listing, though no agreement has been finalized and discussions remain ongoing.
The Defence Ministry approved the procurement of military equipment worth Rs 84,560 crore, including new planes, radar systems, torpedoes, and anti-armour munition, to enhance the combat capabilities of the Armed Forces and strengthen maritime surveillance and air defence capabilities.
The delay in FTC approval for Occidental Petroleum's acquisition of CrownRock has pushed the deal's closure to the second half of the year, impacting asset sales and buyback plans, though Occidental's Q4 results exceeded expectations, leading to a 4.9% stock increase.
Manchester United's (NYSE: MANU) stock fluctuated as billionaire Jim Ratcliffe's tender offer was extended until Friday, resulting in an initial 8.7% rise on Tuesday and a subsequent 13% slump as Wednesday marked the last day for investors to participate in the offer, amidst approvals from the Premier League and the Football Association for Ratcliffe's purchase of a 25% stake in the club at $33 a share.
Penn Entertainment (NASDAQ:PENN) is acquiring Wynn Interactive Holdings' mobile sports wagering licenses for $25M, providing access to the New York sports wagering market. Pending regulatory approval, Penn will launch its online betting product, ESPN BET, in New York this year. Despite the potential benefits, PENN shares fell by 4%, while WYNN shares dropped by 2.8% on Monday.
Flame Acquisition Corp. gains stockholder approval for its merger with Sable Offshore Holdings and Sable Offshore Corp., facilitating the creation of Sable Offshore Corp. slated to debut on the NYSE as "SOC" and "SOC.WS" on February 15, 2024, with Flame reporting approximately $62.2 million in its trust account pre-merger.
