Bid & Ask: The Deals of the Week
1. Chicago Bridge & Iron offered $3 billion for nuclear energy contractor Shaw Group in the largest construction acquisition of the year, making a big bet on a nuclear renaissance.
2. Canadian home-improvement retailer RONA spurned a $1.8 billion takeover offer from Lowe’s. RONA’s stock had a record one-day gain, a sign that investors anticipate a bidding war for the company.
3. Roper Industries will pay $1.4 billion for Sunquest Information Systems, making the health-care software firm its largest acquisition in at least 17 years.
4. Sumitomo closed a $1.4 billion deal with Devon Energy, purchasing a stake in a pair of Texas oilfields and funding drilling operations in two others.
5. Toyota Tsusho, the trading company affiliated with the automaker, agreed to pay $845 million to become the majority shareholder in French car distributor CFAO.
6. Billionaire Carl Icahn will sell back his $590 million stake in MGM Holdings as it prepares to go public.
7. Swiss trading company Prominvest edged out India’s Aditya Birla Group in bidding for Northern Iron, offering $550 million for the Australian miner.
8. Apple dipped into its $117 billion cash hoard to pay $356 million for AuthenTec. The company’s fingerprint-recognition technology will likely be added to the iPad and iPhone.
9. Manchester United, the English soccer club that claims more than 650 million fans, plans to raise as much as $333 million in a U.S. initial public offering. The club is expected to pay down debt with the proceeds.
10. The original cover art for issue 328 of The Amazing Spider-Man sold for $657,250 at a Beverly Hills event held by Heritage Auctions. It was the highest auction price ever for a piece of American comic book art.