ConocoPhillips Divests Nigerian Unit, Mohawk Buys Marazzi Group: Merger and Acquisitions Wrap

The Canadian grain handler Richardson International wins approval from the Competition Bureau for its $808 million acquisition of some country assets, including some of those obtained from Viterra, from Glencore International (GLCFN.PK). The transaction should close as early as feasible next year. Switzerland-based Glencore also intends to divest the bulk of Viterra’s previous farm retail outlets to Agrium (NYSE:AGU) for C$575 million.

JPMorgan Chase & Co. (NYSE:JPM) buys the online coupon site Bloomspot Inc. at a price of $35 million, seeking to offer credit card holders more discounts to local shops, says a memo obtained by Bloomberg News. The acquisition will entail Bloomspot’s tech and around 100 employees, said Bloomspot Chief Executive Jasper Malcolmson in the memo, which was e-mailed to investors.

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ConocoPhillips (NYSE:COP) will sell its Nigerian business unit to affiliates of Oando PLC, including two offshore properties comprised of a 95 percent-operated interest in OML 131 (the Chota Field) and 20 percent nonoperated interest in OPL 214 (the Uge Field), along with a 20 percent nonoperated stake in onshore OMLs 60-63 (NAOC joint venture), a 20 percent nonoperated interest in the Kwale-Okpai Independent Power Plant, and a 17 percent nonoperated interest in the Brass LNG project.

Mohawk Industries (NYSE:MHK) will buy the Marazzi Group, in a cash and equity transaction that would make Mohawk the global leader in ceramic tile. The buyer is acquiring Marazzi for roughly $1.5 billion, and expects the purchase to be accretive in 2013.

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