Bid & Ask: The Deals of the Week
1. International Paper agreed to buy corrugated packaging manufacturer Temple-Inland for $3.7 billion, increasing its all-cash bid rather than mounting a hostile takeover.
2. Former BP CEO Tony Hayward’s investment vehicle, Vallares, will merge with Turkey’s Genel Energy International in a $2.1 billion deal to gain oil fields in Iraq’s Kurdistan region.
3. A group led by Baosteel Group and Citic Group is paying $1.95 billion for a 15 percent stake in Brazil’s Companhia Brasileira de Metalurgia e Mineracão, the top producer of niobium, a mineral used to strengthen steel.
4. Toshiba will buy Shaw Group’s 20 percent stake in nuclear-plant designer Westinghouse Electric for $1.6 billion, increasing its share to 87 percent.
5. PepsiCo will extend its sponsorship of the National Football League through the 2022 playoffs, paying $1 billion, according to the Associated Press.
6. Royal Dutch Shell agreed to sell its stake in Gassled, Norway’s joint-venture natural gas pipeline, to Infragas Norge, a wholly owned subsidiary of Canada’s Public Sector Pension Investment Board, for $723 million.
7. Developer Sun Hung Kai Properties paid $400 million at a land auction to buy a residential site owned by the Hong Kong government.
8. Tokyo-based Marubeni agreed to pay $324 million for 49.9 percent of a Dong Energy offshore wind facility, which produces enough electricity to power 125,000 British homes.
9. Carlyle Group, the private equity firm, registered for a $100 million public offering. That value is a placeholder and may change before the share sale.
10. A Christie’s auction raised $7.6 million, including $539,291 for a 300-bottle collection of Château Lafite Rothschild that contained 25 cases of Bordeaux for each year from 1981 through 2005.