4 big deal reports: Enbridge shells out $14B for Dominion utilities

By Davit Kirakosyan

Here is your Pro Recap of 4 head-turning deal dispatches you may have missed this past week: deals at Enbridge and Dominion Energy, WestRock and Smurfit Kappa, NextGen Healthcare and Thoma Bravo, and potential sale of Alteryx.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Enbridge to pay $14 billion to Dominion Energy for 3 utilities

Enbridge (NYSE:ENB) agreed to acquire EOG, Questar, and PSNC from Dominion Energy (NYSE:D) at a combined value of $14 billion, which includes $9.4B cash and $4.6B of assumed debt, as reported in real time on InvestingPro.

The acquisitions will expand Enbridge's presence in the US utility sector, adding gas utility operations in Ohio, North Carolina, Utah, Idaho, and Wyoming. Post-acquisition, Enbridge’s gas utility business will become the largest in North America.

Following the announcement, Enbridge shares fell more than 5% in Wednesday's session.

WestRock and Smurfit Kappa confirm merger deal

Smurfit Kappa Group and WestRock (NYSE:WRK) confirmed reports of discussions about a possible merger to form "Smurfit WestRock." The new company would be incorporated and domiciled in Dublin, Ireland, with the Americas operations in Atlanta, Georgia.

Post-merger, Smurfit WestRock's ordinary shares will be listed on the NYSE, with a subsequent aim to seek US equity index inclusion. Smurfit Kappa's existing premium listing on the London Stock Exchange might be replaced by a standard listing, and a delisting from Euronext Dublin is also in the cards.

Credit Suisse said the proposed deal "would have significant strategic and operational merits."

InvestingPro

Truist sees $44/share as potential acquisition price for Alteryx

Truist Securities reiterated its Buy rating and $40.00 price target on Alteryx (NYSE:AYX), following reports that the company is working with Qatalyst Partners to explore a potential sale.

According to the firm, Alteryx possesses valuable core technology assets in the self-service data preparation space. With the current industry focus on making data and analytics more accessible through AI, the firm believes that Alteryx's technology could remain relevant whether it continues as an independent entity or merges with another company in the evolving IT landscape.

According to Truist, any acquisition could happen at a valuation that implies a share price of about $44.

Shares closed the week with more than an 18% gain.

NextGen Healthcare to be taken private by Thoma Bravo

Nextgen Healthcare (NASDAQ:NXGN) agreed to be acquired by Thoma Bravo for $23.95 per share in cash. The transaction is anticipated to close in Q4/23, subject to customary closing conditions, including approval by NextGen Healthcare shareholders and required regulatory approvals.

Following the completion of this deal, NextGen Healthcare will transition into a privately held company.

NextGen shares closed the week with more than a 22% gain.

InvestingPro | Anticipate Market Trends With Breaking News

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201)

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: