Has 2013 been ''The'' Year of Mergers and Acquisitions?
By EI Staff | September 27, 2013
2013 has been a remarkable year for mergers and acquisitions. Listed below are some of the Billion Dollar Plus deals, out of well over 200 in total that have occurred this year so far.
1. On January 07, Nationstar Mortgage Announced Agreement to Acquire Approximately $215 Billion in Mortgage Servicing Assets from Bank of America. The purchase price for the mortgage servicing rights was approximately $1.3 billion.
2. On Jan 24, Starwood Property Trust and Starwood Capital Group, a leading global private investment firm, on behalf of Starwood Distressed Opportunity Fund IX, announced that they have entered into a definitive agreement to acquire LNR Property LLC for a total purchase price of $1.05 billion in cash.
3. On Jan 31, Scientific Games Corporation and WMS Industries Inc. announced that the companies have entered into a definitive agreement under which Scientific Games has agreed to acquire WMS for $26.00 in cash per common share or approximately $1.5 billion.
4. On Feb 5, Praxair, Inc. announced it has entered into an agreement to acquire NuCO2 Inc. from Aurora Capital Group, a Los Angeles, California based private equity firm, for $1.1 billion in cash.
5. On Feb 5, Liberty Global, Inc. and Virgin Media, Inc. announced that they have entered into an agreement, subject to shareholder approvals, pursuant to which Liberty Global will acquire Virgin Media in a stock and cash merger valued at approximately $23.3 billion.
6. On Feb 5, Silver Wheaton Corp. announced that it has entered into a binding term sheet to acquire from a subsidiary of Vale S.A. an amount of gold equal to 25% of the life of mine gold production from its Salobo Mine, located in Brazil, as well as 70% of the gold production, for a 20-year term, from certain of its Sudbury Mines located in Canada. Silver Wheaton will pay Vale total cash consideration of US$1.90 billion, plus 10 million Silver Wheaton warrants with a strike price of US$65 and a term of 10 years.
7. On Feb 6, Reliance Steel & Aluminum Co. and Metals USA Holdings Corp. announced a definitive merger agreement whereby Reliance Steel & Aluminum Co. will acquire all outstanding shares of Metals USA Holdings Corp. for $20.65 per share in cash, representing an enterprise value of approximately $1.2 billion.
8. On 11 Feb, Hakon Invest signed an agreement with Ahold to acquire the remaining 60 per cent of the shares in ICA for a cash consideration of SEK 20 billion (approximately $3 billion)
9. On Feb 14, Cardinal Health announced plans to acquire privately held AssuraMed, a leading provider of medical supplies to patients in the home, for $2.07 billion, or $1.94 billion, net of the present value of tax benefits.