Mergers and Acquisitions Recap: Winnebago Shares Pop, El Paso’s Deal

Shares of Nucor (NYSE:NUE) move down a bit following late Thursday’s announcement that it will purchase the membership interests of Skyline Steel LLC and its subsidiaries from ArcelorMittal (NYSE:MT) for around $605 million. The move is vertical, as Skyline has distributed Nucor’s piling products for more than two decades.

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El Paso Corp. (NYSE:EP) will sell its Cheyenne Plains Pipeline and additional interest in Colorado Interstate Gas, to El Paso Pipeline Partners (NYSE:EPB) for $635 million and the assumption of approximately $242 million of proportional debt. The deal is projected to close at the same time as Kinder Morgan’s purchase of EP, and should be immediately accretive to distributable cash flow.

Winnebago (NYSE:WGO) shares pop Friday, following a Bloomberg report that private equity North Street is making an $11 per share bid for the company.

Shares of online retail firm Bidz.com (NASDAQ:BIDZ) swell by more than 50 percent after signing a merger deal with Glendon Group, that will take it private. The sale will be for 78 cents a share, on a stock that once traded for $20.

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