M&A News: General Electric, Patrizia Immobilien, Lagardère, Bank of Shanghai, Banorte
1. General Electric will pay about $3.3 billion for Texas-based Lufkin Industries, which makes machines used in the oil and natural gas industry.
2. Patrizia Immobilien is buying Bayerische Landesbank’s GBW unit, an apartment building owner, in a transaction that values GBW at $3.3 billion, including debt.
3. Paris-based media company Lagardère has unloaded its stake in EADS through a share sale valued at about $2.9 billion.
4. Bank of Shanghai, which counts HSBC Holdings among its shareholders, plans to seek $2 billion in an initial public offering in Hong Kong, according to two people with knowledge of the matter.
5. Mexico’s No. 3 lender, Grupo Financiero Banorte, hopes to raise about $2 billion through a share offering this year, say two people familiar with the plan.
6. Philanthropist and cosmetics mogul Leonard Lauder is donating 78 cubist artworks valued at $1 billion to New York’s Metropolitan Museum of Art. The gift includes 33 works by Picasso.
7. Norwegian fish food producer Cermaq offered to buy rival Copeinca for $609 million, trumping a previous bid by Pacific Andes Resources Development.
8. SeaWorld Parks & Entertainment is seeking as much as $540 million in an IPO after its owner, Blackstone Group, rejected takeover bids for the theme park operator.
9. Australian surf wear maker Billabong International is in discussions with a group led by Sycamore Partners Management, which bid $300 million for the company.
10. Blackhawk Network Holdings, the gift-card provider owned by grocer Safeway, plans to raise as much as $220 million in an IPO.