Deals of the day: mergers and acquisitions
MGM•Inpex exercised rights to buy a 0.735% stake in its Ichthys LNG project, while Genel raised its cash offer for Capricorn Energy to $436 million. EQT is reportedly preparing to sell its Parques Reunidos stake, and MGM is reportedly discussing a bid for People Inc.
1. Energy deals
Inpex said it exercised pre-emptive rights to buy a 0.735% stake in its Ichthys liquefied natural gas project in Australia from JERA, blocking a deal agreed with MidOcean Energy. Genel Energy raised its cash offer for Capricorn Energy to $436 million, potentially ending a months-long bidding war.
2. Sale and bid discussions
EQT is reportedly preparing to sell its controlling stake in Spanish theme park operator Parques Reunidos. MGM Resorts International is reportedly discussing a bid for People Inc, a day after People Inc withdrew its proposal to buy MGM Resorts.
3. Other transactions
RedBird Capital Partners agreed to acquire a majority stake in newsletter startup Puck in a deal valuing it at about $250 million. Trevi Finanziaria Industriale said its board considered Webuild’s proposed purchase price unfair and said it did not adequately reflect Trevi’s value.
