M&A; Watch: LINN Energy, Plains Exploration, MobileMD, Siemens Healthcare, IAG, Anglo American, De Beers
Friday, November 04, 2021 2:05 PM

Some noticeable merger and acquisition activities on Friday are discussed below.

LINN Energy to buy Texas assets from Plains Exploration

LINN Energy LLC (NASDAQ:LINE)  announced that it has agreed to acquire mid-continent oil and natural gas properties located in the Granite Wash of Texas and Oklahoma from Plains Production and Exploration Co. (NYSE:PXP) for a contract price of $600 million. LINN expects the deal to add to its earnings and double its inventory of horizontal drilling locations to more than 400 in the Granite Wash.  PXP's aggregate working interest in the Texas properties generated total sales volumes of about 84 MMcfe per day during the third quarter of 2011 and had 263 billion cubic feet equivalent (Bcfe) of estimated proved reserves as of December 31, 2010.

Siemens unit to acquire health information exchange co

Siemens AG (NYSE:SI)’s Healthcare unit agreed to acquire MobileMD Inc., a health information exchange provider, for an undisclosed sum. Siemens said MobileMD addresses the technical, legal and business complexities of connecting health systems, hospitals and physician communities in the United States healthcare market.

Phoenix Asset Management to acquire insurance services co

DAVID Corp., a 27-year old software company and engages itself in providing risk management and insurance services, announced that it has been acquired by Phoenix Asset management, a private equity firm. Financial details of the deal were not disclosed. Alex Aminian, President and CEO of DAVID Corp., said, “We have been in the business of providing risk management software solutions for over 27 years and believe that the investment of capital by Phoenix Asset Management will help propel us to the next level of our strategic growth objectives.”

IAG to buy Lufthansa’s UK bmi unit

British Airways owner International Consolidated Airlines Group (LON:IAG) has agreed to buy Lufthansa’s loss-making bmi unit to boost its presence at Heathrow Airport and expand its services in Latin America and Asia. Terms of the deal were not disclosed.

Anglo American Raises De Beers Stake To 85 Pct

Miner Anglo American Plc (LON:AAL) announced today that it is buying 40 percent of diamond miner De Beers from South Africa’s Oppenheimers family for $5.1 billion, taking its total stake to 85 percent. Nicky Oppenheimer, representing the Oppenheimer family interests, said: "This has been a momentous and difficult decision as my family has been in the diamond industry for more than 100 years and part of De Beers for over 80 years…….Anglo American is the natural home for our stake as they have been major shareholders in De Beers since 1926 and have a deep knowledge of the diamond business.”