Bid & Ask

M&A News: General Electric, Patrizia Immobilien, Lagardère, Bank of Shanghai, Banorte


1. General Electric (GE) will pay about $3.3 billion for Texas-based Lufkin Industries (LUFK), which makes machines used in the oil and natural gas industry.

2. Patrizia Immobilien is buying Bayerische Landesbank’s GBW (GWB:GR) unit, an apartment building owner, in a transaction that values GBW at $3.3 billion, including debt.

3. Paris-based media company Lagardère has unloaded its stake in EADS through a share sale valued at about $2.9 billion.

4. Bank of Shanghai, which counts HSBC Holdings (HBC) among its shareholders, plans to seek $2 billion in an initial public offering in Hong Kong, according to two people with knowledge of the matter.

5. Mexico’s No. 3 lender, Grupo Financiero Banorte (GFNORTEO:MM), hopes to raise about $2 billion through a share offering this year, say two people familiar with the plan.

6. Philanthropist and cosmetics mogul Leonard Lauder is donating 78 cubist artworks valued at $1 billion to New York’s Metropolitan Museum of Art. The gift includes 33 works by Picasso.

7. Norwegian fish food producer Cermaq (CEQ:NO) offered to buy rival Copeinca (COP:NO) for $609 million, trumping a previous bid by Pacific Andes Resources Development (PAH:SP).

8. SeaWorld Parks & Entertainment is seeking as much as $540 million in an IPO after its owner, Blackstone Group (BX), rejected takeover bids for the theme park operator.

9. Australian surf wear maker Billabong International (BBG:AU) is in discussions with a group led by Sycamore Partners Management, which bid $300 million for the company.

10. Blackhawk Network Holdings, the gift-card provider owned by grocer Safeway (SWY), plans to raise as much as $220 million in an IPO.

Jet: Bloomberg; Money: Peter Stone/Alamy; Picasso: Leonard A. Lauder Cubist Collection/Artists Rights Society (ARS)(3); Seaworld: George D Lepp/Getty Images
Cwinter
Winter is a reporter for Bloomberg Businessweek in New York.

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