M&A Features

EQT to take over Rice Energy

Energy firm EQT is acquiring Rice Energy in a deal worth around USD 8,200 million to expand its natural gas business. The two New York Stock Exchange-listed companies, when merged, will become the largest natural gas producer in the US, according to the purchaser’s press release. The announcement comes as energy companies are pouring money into places like Pennsylvania, West Virginia and Ohio, with the US soon to be the largest natural gas exporter globally, Reuters reported.

Glencore launches rival bid for Rio Tinto’s coal assets

Glencore is attempting to outbid Yanzhou Coal Mining for Coal & Allied Industries (CAI), a thermal coal mining subsidiary of Rio Tinto, with a USD 2,550 million cash offer that remains valid until 26th June this year. The payment, of which USD 500 million will be settled over five years after closing, will be funded by cash on hand and committed facilities.

Deere to purchase Wirtgen Group

Deere is carrying out a EUR 4,600 million deal to acquire Wirtgen Group Holding as it seeks to expand into the road construction sector and grow its footprint overseas. The transaction, which is expected to close next year, will be funded by cash and new debt facilities.

CF to buy Fidelity & Guaranty Life

Blank check company CF is acquiring Fidelity & Guaranty Life (FGL) for about USD 1,835 million, which includes the assumption of debt worth USD 405 million. According to Zephyr, the M&A database published by Bureau van Dijk, the takeover is set to become the second-largest acquisition of a pension products provider to date. This comes after the FGL pulled out of its planned merger with Chinese insurer Anbang almost two months ago following US state regulators’ refusal to approve the USD 1,573 million deal.