ConocoPhillips yesterday announced it will buy US shale oil producer Concho Resources for US$9.7 billion, in the latest example of consolidation in the energy sector following depressed oil prices and demand due to the COVID-19 pandemic. The deal sees 1.46 shares of ConocoPhillips swapped for each...
Privately-held Chrysaor has struck a reverse takeover deal with Premier Oil that will create the biggest quoted independent oil and gas exploration and production company listed in London. North Sea-focused Premier’s US$2.7 billion of debt and hedging liabilities will be repaid and cancelled via a $1.232...
The boards of Northern Star Resources and Saracen Mineral Holdings have approved a US$4.14 billion shares and cash deal that will create a global top-10 gold miner by market value. The high-profile merger is set to create an Australia-based gold giant worth $11.5 billion, with Northern...
Canada’s SSR Mining has confirmed it will buy Alacer Gold in an all-stock deal valued at US$1.72 billion, in a sign of the growing appetite for consolidation among the upper echelons of the gold mining sector. In the wake of the COVID-19 outbreak gold prices have...
A latest Global Data report has found that the global metals and mining industry recorded US$1.26 billion in mergers and acquisition (M&A) deals during February. This represents an 18.4% rise on the value of M&A deals recorded in January, but a 67.1% fall on the 2019...
The shareholders of Canadian miners Equinox Gold and Leagold Mining have approved the merger deal, creating an Americas-focused gold giant with a market capitalisation of around US$1.75 billion. First announced in December, the deal will bring together Leagold’s four mines in Mexico and Brazil with Equinox’s...
Canada’s Endeavour Mining has dropped its plan to acquire Egypt-focused Centamin for US$1.9 billion as it did not get enough information on the latter’s assets during an assessment. Centamin’s sole operating asset is the Sukari Gold Mine, located in the Eastern Desert approximately 700 km from...
London-listed gold miner Centamin has rejected a US$1.9 billion all-stock takeover bid from Endeavour Mining, saying it did not offer enough value to the company’s shareholders. Endeavour, which owns four gold mines in West Africa, said its offer was a 13% premium on Centamin’s most recent...
China’s largest gold producer Zijin Mining has agreed to buy Canadian miner Continental Gold for around US$1 billion, in the latest major deal to be struck in the gold sector this year. State-owned Zijin made a cash offer of C$5.50 per share, which represents close to...
Royal Dutch Shell has agreed to sell its 22.45% stake in the Caesar Tonga field in the Gulf of Mexico for US$965 million to a subsidiary of Israeli energy conglomerate Delek Group. Delek CT Investment will buy Shell’s stake in the field, which currently produces 71,000...