Markets & Finance

Bid & Ask: HSBC, Freeport-McMoRan, KingSett Capital, ADM


1. In a move to revive profit and boost capital, HSBC Holdings (HBC) is selling its stake in China’s Ping An Insurance Group (PNGAY) to Thai billionaire Dhanin Chearavanont for $9.4 billion.

2. Freeport-McMoRan Copper & Gold (FCX) will pay $9 billion for Plains Exploration & Production (PXP) and McMoRan Exploration (MMR), gaining oil fields in the Gulf of Mexico and other energy assets.

3. Toronto-based real estate investor KingSett Capital will bid $4.4 billion for Primaris Retail Real Estate Investment Trust to add shopping malls in Canada.

4. The world’s No. 1 corn processor, Archer Daniels Midland (ADM), raised its bid for GrainCorp (GNC:AU) by 3.8 percent, to $2.9 billion, after the Australian grain handler rejected an earlier offer.

5. Australia’s Woodside Petroleum (WPL:AU) will pay as much as $2.3 billion for a 30 percent stake in Israel’s Leviathan natural gas field as part of a joint venture with Noble Energy (NBL) and others.

6. Canadian dairy products giant Saputo (SAP:CN) will acquire Dean Foods’ (DF) Morningstar Foods unit for $1.5 billion to further expand in the U.S.

7. Germany’s largest retailer, Metro (MEO:GR), is selling its Real grocery stores in Poland, Romania, Ukraine, and Russia to Groupe Auchan of France for $1.4 billion.

8. Blackstone Group (BX) affiliate BRE Select Hotels will pay $1.2 billion for Apple Six, a real estate investment trust that owns 66 hotels across 18 states, with brands including Courtyard by Marriott, Fairfield Inn, and Hilton Garden.

9. Atlanta-based Equifax (EFX), a credit-information company, will pay $1 billion for the credit-services unit of Computer Sciences (CSC).

10. A letter, dated October 1812 and handwritten in code, in which French Emperor Napoleon Bonaparte vows to “blow up the Kremlin” sold for about $244,000 at a Paris auction.

Photographs by Bloomberg (2); Getty Images (2); Osenat
Cwinter
Winter is a reporter for Bloomberg Businessweek in New York.

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