Mergers and Acquisitions

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Abu Dhabi’s TAQA Confirms Naturgy Shareholder Talks as it Eyes Full Takeover

(Reuters) – Abu Dhabi’s TAQA  is in discussions with the three largest shareholders of Spanish energy firm Naturgy, it said on Wednesday, with a view to a possible full takeover bid for the company. Criteria, the main shareholder in lender Caixabank owns a 26.7% stake in Naturgy, which has a current overall market value of 22 billion …

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Kimmeridge Withdraws Merger Proposal for SilverBow

 Kimmeridge Energy Management said on Tuesday it has withdrawn its proposal to combine its gas-producing assets in South Texas with SilverBow Resources. Kimmeridge, SilverBow’s largest shareholder, in its latest attempt to acquire the company over the last two years had sent its offer on March 13 to combine assets. Along with Riposte Capital, SilverBow’s second-largest …

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Halliburton, Baker Hughes May See Deal Pressure After SLB’s Buying Spree, Industry Experts Say

Investors of Halliburton and Baker Hughes are likely to pile up pressure on the top U.S. oilfield service companies to follow the steps of bigger rival SLB in beefing up their portfolios through deals, industry experts said. SLB made a nearly $8 billion bid for ChampionX earlier this month to add new technology offerings, its …

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Possible BP Bid Highlights ‘London for Sale’ Scenario

Possible BP bid highlights ‘London for sale’ scenario (Reuters) – The emergence of a possible bid for BP  by the United Arab Emirates’ state-owned oil group has thrown a spotlight on the vulnerability of the Britain’s largest companies to takeover and the threat to London as a global capital markets hub. New York’s larger investor base and …

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Hess Signals Exxon Arbitration Could Push a Sale into Next Year

(Reuters) – An Exxon Mobil  arbitration case that could block the sale of Hess Corp to Chevron  could drag on until year-end, Hess said in a U.S. securities filing on Friday. The filing signals any closing of its $53 billion sale to Chevron could fall into next year, at least six months later than a prior goal of …

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$200 Billion of M&A Wasn’t Enough in U.S. Oil Patch

There are still too many energy companies chasing too little capital. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” Even after a record $200 billion dealmaking frenzy last year, US oil and …

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Diamondback Sells $5.5 Billion of Bonds for Endeavor Deal

The five-part offering includes a $1 billion, 40-year tranche M&A-related financing is helping fuel record high-grade sales Diamondback Energy Inc. borrowed $5.5 billion in the US investment-grade market to partly help fund its $26 billion takeover of Endeavor Energy Resources LP, joining other blue-chip companies capitalizing on robust investor demand to bring acquisition-related debt deals. Diamondback sold the bonds …

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SLB Announces Agreement to Acquire ChampionX in an All-Stock Transaction

Acquisition strengthens SLB as a leader in production space, with world-class production chemicals and artificial lift technologies Combined portfolios will drive customer value through deep industry expertise and digital integration, as well as enhanced equipment life and production optimization ChampionX shareholders to receive 0.735 SLB shares for each share of ChampionX Annual pre-tax synergies to …

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U.S. Energy Sector Consolidation Trend Continues in 2024

The $250-billion consolidation wave that swept through the US energy sector in 2023 has continued into 2024, with experts anticipating further transactions as energy firms aim to improve inventory longevity while minimising costs. The majority of energy executives polled in December by the Federal Reserve Bank of Dallas expected more oil deals worth $50 billion …

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Enbridge Completes Sale of its Interests in Alliance Pipeline and Aux Sable

CALGARY, AB, April 1, 2024 /PRNewswire/ – Enbridge Inc. (“Enbridge” or “the Company”) (TSX: ENB) (NYSE: ENB) announced today the closing of the agreement to sell its 50.0% interest in Alliance Pipeline and its 42.7% interest in Aux Sable to Pembina Pipeline Corporation (“Pembina”) (TSX: PPL) (NYSE: PBA) for $3.1 billion, previously announced on December 13, 2023. This is an important milestone …

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