M&A Review: ING Sells More Assets, New Cnooc-Nexen Episode
The Dutch bank ING Groep’s (NYSE:ING) sale of its world assets to meet European Commission requirements continues quickly, as the firm is now divesting its Malaysian life-insurance operations to Hong Kong’s AIA Group in a transaction worth €1.3 billion, allowing ING a net gain of €780 million.
Heckmann Corporation (NYSE:HEK) has finalized its purchase of a majority interest in Appalachian Water Services which will now operate as a part of the former’s fluid management unit. Appalachian owns and operates a state-of-the-art wastewater treatment recycling facility that is designed to treat and recycle the water involved in Marcellus Shale fracking.
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Cooper Tire & Rubber Co. (NYSE:CTB) might be on the shopping list of Apollo Tyres, says a report in The Economic Times.
The Cnooc (NYSE:CEO) – Nexen (NYSE:NXY) saga continues, as the government of Canada has extended its review of the now-famous proposed merger by 30 days and suggests that this could be followed by yet another extension. Prime Minister Stephen Harper’s government is evaluating the offer under the country’s foreign takeover law, which specifies that such transactions must yield a “net benefit” for Canada if approval is to be granted.