Markets & Finance
Bid & Ask: The Deals of the Week
1. Chesapeake Energy (CHK) will sell assets including portions of oil and natural gas fields in Texas and New Mexico for $6.9 billion.
2. In a deal doubling its crude production, Houston-based Plains Exploration & Production (PXP) will acquire BP’s (BP) and Royal Dutch Shell’s (RDS.A) stakes in a group of Gulf of Mexico oil fields for $6.1 billion.
3. Morgan Stanley (MS) will pay Citigroup (C) $1.9 billion for an additional 14 percent stake in Morgan Stanley Smith Barney, their brokerage joint venture. It will pay $4.73 billion for the remaining 35 percent by 2015. The deal values Smith Barney at $13.5 billion.
4. Canada’s largest security company, Garda World Security (GW:CN), agreed to be taken private in a $1.1 billion deal led by its founder and CEO Stéphan Crétier.
5. India’s state-owned energy explorer Oil and Natural Gas Corp. will pay Hess (HES) $1 billion for a stake in Azerbaijan’s largest oil fields and an associated pipeline.
6. Danish shipping group A.P. Moeller-Maersk (AMKBY) is buying a 37.5 percent stake in Russia’s No. 1 container-terminal operator for about $860 million.
7. ARA Asset Management (ARA:SP), the property company backed by billionaire Li Ka-shing, is seeking about $649 million in the first dual-currency—yuan and Singapore dollar—IPO in Singapore, say two people with knowledge of the matter.
9. Indian software exporter Infosys (INFY) will purchase Swiss management consulting company Lodestone Holding for $349 million to diversify its business.
10. A 21-acre island off Ireland’s west coast that once belonged to John Lennon is on sale for $384,000. The Beatle reportedly paid $2,700 for the property in 1967 and hoped to retire there.