BHP Group, a global diversified miner supplying iron ore, copper, oil, gas, and metallurgical, has started talks with Wyloo Metals, a mining company, regarding the takeover of Noront Resources, a Canadian-based mining company, as both the companies try to acquire the nickel producer.
In October, BHP increased its all-cash offer for Noront to $0.6 per share, surpassing Wyloo’s $0.56 proposal. BHP also extended the tender expiry for its takeover from November 9 to November 16, 2021, Reuters
“BHP and Wyloo Metals have engaged in initial conversations and are considering a mutually beneficial arrangement regarding the acquisition of Noront by BHP,” BHP.
BHP is advised by BMO Capital Markets, Blake Cassels & Graydon and Kingsdale Advisors. Wyloo is advised by McCarthy Tetrault. Noront is advised by Stifel, TD Securities, Bennett Jones and Longview Communications.
The US Justice Department filed a lawsuit to stop Bertelsmann-backed Penguin Random House, a company that prints and publishes books, from buying Simon & Schuster, a company specialising in publishing and printing books and pamphlets, from ViacomCBS, an American diversified multinational mass media conglomerate, for $2.2bn, Reuters
The deal would give "outsized influence over who and what is published, and how much authors are paid for their work", said the Justice Department.
Bertelsmann is advised by JP Morgan, Arnold & Porter Kaye Scholer and Davis Polk & Wardwell. ViacomCBS is advised by LionTree Advisors, Shearman & Sterling and Finsbury Glover Hering.
Clearlake Capital and TA Associates-backed Confluence, a software firm, agreed to acquire Investment Metrics, a global provider of investment data, performance, analytics and research software solutions, for $500m.
"As we continue to advance on our growth strategy, Confluence is excited to welcome Investment Metrics to the team. There is a growing need in the market for solutions that streamline operational efficiencies and drive scale. By combining our capabilities with those of Investment Metrics, we will be optimally positioned to deliver a comprehensive analytics solution to our clients, while streamlining analysis and providing fiduciary oversight across the wider ecosystem. Together we are committed to fostering a culture of innovation," Mark Evans, Confluence CEO.
Clearlake Capital is advised by Lambert & Co. Confluence is advised by Sidley Austin and Forefront Communications. Investment Metrics is advised by Centerview Partners and DLA Piper.
Cinven and Bain Capital-backed Arxada, a global specialty chemicals business, agreed to merge with Troy, a global provider of microbial control solutions and performance additives. Financial terms were not disclosed.
"The combination of Arxada and Troy will reinforce our position as a leading global provider of microbial control solutions. Our decision to merge with Troy just four months after our launch as an independent company highlights our ambition and commitment to creating the broadest and most innovative solutions for our customers in this sector. The combination also fits with our strategy of expanding our geographic footprint and the scale and depth of our capabilities by bolstering our manufacturing capacity in MCS beyond North America into Europe and Asia," Marc Doyle, Arxada CEO.
Arxada is advised by Piper Sandler, Kirkland & Ellis and FTI Consulting. Troy is advised by JP Morgan and Norton Rose Fulbright.
Atlas, a private investment & equity firm, agreed to acquire RR Donnelley, an integrated communications company, for $2.1bn. Atlas will acquire all of the outstanding shares of RRD common stock for $8.52 per share in cash. The purchase price represents a premium of approximately 29.1%.
"The RRD board regularly reviews the Company’s strategic priorities, and today’s announcement is a culmination of a thorough, multi-year process to maximize value for RRD stockholders. After a careful and thorough analysis, the RRD board believes that this transaction, which delivers an immediate premium and certain cash value, is in the best interest of RRD and our stockholders," John Pope, RRD Chairman of the Board of Directors.
RR Donnelley is advised by Centerview Partners, Skadden Arps Slate Meagher & Flom and Joele Frank. Atlas is advised by Macquarie Capital and Willkie Farr & Gallagher.
CMA CGM, a provider of marine transportation and logistics services, agreed to acquire the remaining 90% stake in Fenix Marine Services, an operator of a container terminal, from EQT for $2.07bn.
“Fenix Marine Services plays an integral role in the complex North American supply chain. We have been proud to support its mission of operational excellence and capacity growth to best meet consumer needs both before and during a pandemic that has highlighted the importance of Port of Los Angeles as a critical trade gateway. It has been a pleasure to partner with Sean and the current management team, each of whom have done a fantastic job implementing our full potential plan, including an ambitious digitalization program and an industry-leading sustainability agenda. Today, Fenix Marine Services is one of the most efficient and environmentally friendly terminals in North America," Alex Darden, EQT Partner and Head of Infrastructure’s US Advisory Team.
EQT is advised by Rothschild & Co and Allen & Overy.
Macquarie Capital, an investment capital provider, agreed to invest in Procentrix, a developer of IT modernization software. Financial terms were not disclosed.
“Partnering with Macquarie Capital, a premier principal investor with extensive capabilities will help us continue to drive the growth and success of the company while retaining the agility and entrepreneurial culture that our employees and customers have grown accustomed to for over 15 years. This partnership will help Procentrix significantly expand its capabilities, customer base and enable us to pursue new growth avenues," Mike Hughes, Procentrix President and CEO.
Macquarie Capital is advised by Prosek Partners. Procentrix is advised by Houlihan Lokey.
Arsenal, a private equity firm, completed the acquisition of AvCarb, a producer of gas diffusion layer and specialty engineered carbon fiber products. Financial terms were not disclosed.
"As AvCarb's customers accelerate the deployment of decarbonization technologies such as fuel cells, their needs for production capacity, development support, and customer service are increasing rapidly. Arsenal brings scale, resources, and experience that will ensure AvCarb continues to support customer success across product lines and around the world," Guy Ebbrell, AvCarb President.
Arsenal was advised by Prosek Partners. AvCarb was advised by Houlihan Lokey.
PT Holdings, a distributor of original equipment manufacturer repair and maintenance parts, completed the acquisition of two providers of repair services K&D Factory Service and Pine Tree Food Equipment. Financial terms were not disclosed.
"K&D Factory Service and Pine Tree Food Equipment have everything we look for in a business: strong OEM parts distribution, manufacturer relationships, a great brand and innovative leadership. We have been working with Dan and the K&D Factory Service and Pine Tree Food Equipment teams for a very long time and are excited to support the continued efforts of these great local brands,” Dave Wenger, PT Holdings President.
PT Holdings was advised by Skadden Arps Slate Meagher & Flom and Finn Partners.
CACI, an information solutions and services provider, agreed to acquire SA Photonics, a developer of photonic systems, for $275m.
"Our innovative space-based photonics technology delivers enhanced capability for missions ranging from national security to human spaceflight. With SA Photonics, our combined technology enables us to deliver immediate FSO communications across all-domains," John Mengucci, CACI President and CEO.
SA Photonics is advised by Jefferies & Company.
TPG led a $202m Series D funding round in Everlaw, a developer of a cloud-based litigation platform. Additional investors include HIG, CapitalG, Menlo Ventures, Andreessen Horowitz and K9 Ventures.
"The legal industry has undergone a decade's worth of technological change in just 18 months. Legal professionals need tools that can keep up with the pace of change without sacrificing security. We're proud of what we've accomplished, but we're not resting on our laurels. This investment is part of a thoughtful and well-paced strategy for global growth, enabling us to support our customers, people and programs, including go-to-market efforts, channel partnerships and product innovation," AJ Shankar, Everlaw CEO and Founder.
Everlaw was advised by Mission North.
Morgan Stanley Infrastructure Partners, a provider of investment advisory services, completed the acquisition of SpecialtyCare, a provider of intraoperative neuromonitoring, perfusion and surgical services, from Kohlberg & Company, a private equity firm. Financial terms were not disclosed.
"We believe that SpecialtyCare provides an essential solution to its partners in an industry with considerable tailwinds through a contracted business model. We look forward to building upon the Company’s successful track record and further supporting their growth trajectory,” Chris Ortega, MSIP Managing Director and Head of the Americas.
Morgan Stanley Infrastructure Partners was advised by Barclays.
Gellert Global-backed Atalanta, a food importer specializing in cheese, charcuterie, deli meat, grocery and seafood products, completed the acquisition of Mitsui Foods, a firm engaged in the wholesale distribution of fresh fruits and vegetables. Financial terms were not disclosed.
"After extensive evaluation and review, Mitsui felt Atalanta and Camerican International were best suited to continue Mitsui Foods' mission to be a leader in the food import and distribution industry. Antarctica Advisors' expertise was instrumental in aiding us in this review and facilitating the successful transaction for Mitsui," Shuichi Matsuzawa, Mitsui SVP & DOO of Foods & Retail Division.
Mitsui was advised by Antarctica Advisors.
Frontenac, a private equity firm, completed the acquisition of EFC International, a distributor of value-added specialty fasteners. Financial terms were not disclosed.
"We have enjoyed strong growth over the past several years as we executed on a number of key initiatives that have expanded our global reach as well as our customer and supplier base. With Frontenac as our new partner, we are excited to leverage their industrial distribution expertise to continue our expansion plans, both organic and inorganic, and continue to increase market share both domestically and abroad," Matt Dudenhoeffer, EFC International CEO.
Cross River Bank, a bank operator, agreed to acquire Betterfin, an operator of a financing management platform. Financial terms were not disclosed.
“For over a decade, Cross River has redefined financial services for fintech partners, communities and individuals around the globe. With the addition of Betterfin, its team of professionals led by Eric Griego, its technology stack and market intelligence, the combination of our core infrastructure and small business offerings will become another powerful tool of our growth engine," Gilles Gade, Cross River Founder, President and CEO.
Americanas, an e-commerce provider in Brazil, agreed to merge with Lojas Americanas, a Brazilian retailer. Financial terms were not disclosed.
Brazilian billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira currently control Lojas Americanas and will hold a 29.2% stake in the combined company Americanas. Shares issued by Americanas held by Lojas Americanas will be canceled and each shareholder of Lojas Americanas will receive 0.186 common share issued by Americanas.