Merger Monday: Wall Street’s multi-billion dollar deal day
FBN’s Charlie Gasparino discusses how CBS and Viacom may be in negotiations for a possible mega merger.
Monday was a hot bed for merger activity, with numerous companies announcing combinations and sales. Mega deals announced included Marriott’s purchase of ILG and Sainsbury and Walmart’s confirmation that the American retailer will sell its British unit, Asda, to U.K. rival Sainsbury.
On Monday, Marathon Petroleum Corp. agreed to buy pipeline and refining company Andeavor for $23.3 billion, in a deal that would create the largest U.S. fuel maker.
Over the weekend, the $26 billion merger between Sprint and T-Mobile was announced.
Other bids, mergers, acquisitions and disposals included Exxon Mobil’s agreement to acquire Indonesian motorcycle lubricant maker PT Federal Karyatama for $436 million.
Global logistics company Prologis will acquire industrial real-estate investment trust company DCT Industrial Trust in an $8.4 billion all-stock transaction, including the assumption of debt.
AccorHotels will purchase competitor Movenpick Hotels & Resorts for $567 million.