Another week, another acquisition. Actually… two purchases, but in different sectors.
The first one has in the foreground two companies from the energy sector: Chevron and Noble. Chevron announced that it would purchase Noble Energy Inc in an all-stock deal worth $5 billion. The deal will strengthen Chevron's position in shale oil production. Also, it will give them access to the largest natural gas field in the Eastern Mediterranean – Leviathan. The Basin of Colorado and the Permian Basin received by Chevron from Noble could bring California-based company an annual cost saving of $300 million.
This deal is the largest in the United States energy sector this year, and it values Noble at $13 billion, debt included.
Noble's stock price gained almost 9% in pre-market trading, while Chevron lost 0.1%. Overall, Noble's stock slid 61.1%, and Chevron's 27.2%. USA30 dropped by 6.5%.
The second deal of the day comes from the pharmaceutical sector. The British Giant,GlaxoSmithKline, just signed an agreement with the German CureVac. The deal implies research, development, manufacturing, and commercialization of five vaccines and antibodies. By this deal, GSK will have a 10% stake in the latter. The stake costs GSK 150 million EUR, out of which 120 million represents an upfront cash payment.
It is the second deal that GSK closes this year after the one with Sanofi meant to develop a vaccine against COVID-19.
Currently, GlaxoSmithKline is trading 0.37% lower. This year it lost 11%.
Sources: reuters.com, marketwatch.com, seekingalpha.com