13 Stocks Making Big M&A News and Rumors This Week
Here’s your Cheat Sheet to this week’s top mergers and acquisition news:
EBay Inc. (NASDAQ:EBAY): Current price $55.58
EBay has purchased the online marketplace for men’s shopping Bureau of Trade. Founder Michael Phillips Moskowitz will come to the eBay Marketplaces team, where his concentration will be on assisting eBay upgrade its personalization efforts. Financial terms of the acquisition were not divulged, but it was an all-cash transaction and an “acceptable” and positive outcome for Bureau of Trade’s investors. The startup had raised $1.2 million in seed funding in a round led by Foundation Capital, with contributions from FF Angel, Founder Collective, Courtney Holt on behalf of the Techfellows Fund, together with other angel investors.
BP (NYSE:BP): Current price $41.96
BP wants to become the first oil major to have a long-term deal to purchase seaborne crude from Rosneft Oil Co., according to trade sources, after several trading houses secured large volumes in 2013 from the Kremlin energy favorite. The trading houses Glencore, Vitol, and Trafigura agreed to lend Rosneft $11.5 billion in return for oil supplies over five years. Big oil has mostly stayed on the sidelines, preferring to acquire Russian crude at spot tenders. Already, BP has received some volumes of Russian Urals crude through the deal, which is still being completed, said three trading sources to Reuters. Both BP and Rosneft would not comment.