4 M&A Deals Flying Under The Radar
Wednesday’s trading session featured several M&A deals that may be flying under the radar given the smaller size of the deals.
Teck Resources Fully Acquires A Zinc Project
Teck Resources (NYSE: TCK), a $12 billion multinational diversified resource company, said on Tuesday that one of its wholly owned subsidiaries exercised a right of first refusal to acquire the 49 percent held by Rox resources Limited in the Teena/Reward zinc project for AUD$10.5 million in cash.
The zinc project is located in the Northern Territory of Australia and within proximity to one of the world’s premier zinc provinces.
Once the deal is closed Teck resources will hold a 100 percent stake in the Teena project.
Stantec Acquires An Architecture Firm
Stantec (NYSE: STN), a Canada-based $2.5 billion infrastructure provider, said on Wednesday it has signed a letter of intent to acquire an architecture firm called Tkalcic Bengert.
Tkalcic Bengert provides architecture, interior design, creative services, urban planning and technical consulting services. Stantec believes that the acquisition will play a significant role in enhancing its building practice and creates a diverse center of design excellence.
Terms of the deal were not disclosed in the press release.
Qunar Cayman Islands Agrees To Sell Itself
Qunar Cayman Islands (NASDAQ: QUNR), a China-based mobile and online travel platform valued at around $4.2 billion, said on Wednesdayit has agreed to sell itself to its parent company, Ocean Management Holdings Limited.
As part of the agreement, Qunar’s ADR investors will receive $30.39 in cash for each share owned.
The go-private deal was originally announced back in June and the buyout price implies a total consideration of $4.4 billion, or a 15 percent premium to the ADR’s closing price the day before the proposal was communicated to investors.
US Foods Buys A Seafood Processor
US Foods Holding (NYSE: USFD), a $5 billion marketer and distributor of fresh, frozen and dry food and non-food products to foodservice customers, announced on Wednesday that it reached a deal to acquire a seafood processor and distributor called Save On Seafood for $80 million.
Save On Seafood provides fresh and frozen seafood products to grocery stores and restaurants across the Southeastern region of the U.S.
US Foods said that the acquisition is expected to strengthen its reach in selling seafood to customers where Save On Seafood operates.