Deals of the day: Mergers and acquisitions
TSLA•SpaceX and Tesla merger negotiations are reportedly progressing, with a deal possible as early as December. Other reported deals include Hancock Whitney’s roughly $3.2 billion all-stock purchase of Trustmark and Serco’s $292 million purchase of QinetiQ’s US business.
1. Merger talks and buyout pursuit
SpaceX and Tesla are progressing in merger negotiations, and a deal could be announced as early as December. Private equity firms CD&R and GTCR have dropped their pursuit of Global Payments.
2. Bank and company deals
Hancock Whitney will buy Trustmark in a roughly $3.2 billion all-stock deal. Santander raised by 5% the proposed share-swap exchange ratio in its €1.9 billion ($2.1 billion) offer for the roughly 10% stake in its Brazilian unit it does not already own. Serco said it would buy QinetiQ’s US business for $292 million.
3. Oil assets
BP is in talks with Petrobras to sell a stake in its Bumerangue oil block off Brazil, though the potential deal was not considered a priority. Pertamina is in the process of acquiring a new oil field in South America as part of an effort to secure energy supply.
