Valued at $37-billion, it's the biggest American insurance industry merger ever: Aetna and Humana are now one, and industry watchers say the merger could kick off even more consolidation in the American insurance sector. Meanwhile, here at home, the Caisse has partnered up with an Irish multinational to snap up IPL, a Quebec plastics producer that specializes in plastic tubs and other food packaging. (And yes, for those watching, the saga at Pacific Rubiales continues to drag on, with no end in sight.)
DEAL OF THE DAY: Caisse partners with One51 to buy packaging company
A trio of Quebec institutional investors has partnered with Irish-based multinational One51 to acquire Quebec-based injection-moulded plastic producer IPL for $280-million. Private equity firm Novacap is selling its 70-per-cent stake in IPL and One51 is putting up $90-million for a 67-per-cent stake in the company. The Caisse de dépôt et placement du Québec is investing $50-million for a 22-per-cent stake while the labour federation, known as the FDQ, is putting up $30-million and will come away with an 11-per-cent stake. Full story
MERGERS AND ACQUISITIONS
Aetna to buy Humana for $35-billion in largest ever insurance deal
Health insurer Aetna Inc. said it would buy smaller rival Humana Inc. for about $35-billion (U.S.) in cash and stock, in the largest ever deal in the insurance industry. The combination will push Aetna close to Anthem Inc.'s No. 2 insurer spot by membership, and would nearly triple Aetna's Medicare Advantage business. Full story
Crescent Point to acquire light-oil producer Coral Hill
Crescent Point Energy Corp, Canada's No. 4 independent oil producer, said on Thursday it will acquire privately owned light-oil producer Coral Hill Energy Ltd., operating in west central Alberta. Crescent Point, which already owns 8.7 per cent of Coral Hills' outstanding shares, said the deal values Coral Hill at roughly $258-million (Canadian). Full story
Junior oil sands firm SilverWillow agrees to be sold to Value Creation
Cash-strapped SilverWillow Energy Corp. – which had a stock market value of $90-million back in 2012 – has agreed to sell itself for $1.7-million to another Calgary-based junior oil sands company, privately held Value Creation Inc. Full story
INITIAL PUBLIC OFFERINGS
Canadian IPO crop has fallen flat since first-day pops
The headlines tell you that 2015 has been a banner year for Canadian initial public offerings – and some of the numbers certainly bear that out. What this means for the average retail investor, however, is decidedly more mixed. Full story
Ferrari valued at $11-billion or more in IPO, Marchionne says
The listing of Ferrari may value the sports car unit at least €10-billion ($11-billion U.S.), Fiat Chrysler's chief executive Sergio Marchionne said on Friday. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
RBC invests $1-million in iNovia Capital's CareGuide
CareGuide, a portfolio company of Canadian venture capital firm iNovia Capital and other investors, has obtained $1-million (Canadian) in funding from the Knowledge Based Industries group of Royal Bank of Canada. Full story
ANALYSIS AND INSIGHT
Potash Corp. confident it can address K+S's concerns
Potash Corp. of Saskatchewan Inc. said it wants to meet with management of K+S AG as soon as possible to address concerns that led the German fertilizer producer to reject its €7.8-billion ($8.7-billion U.S.) takeover offer. Full story
Battle for control of Pacific Rubiales heats up
The South American-focused energy producer's shares surged 4 per cent after the group proposing a $2-billion (Canadian) cash takeover offer postponed an investor vote in the face of a heated proxy battle that threatens the deal. Full story
More M&A deals likely as crude recovery runs out of gas
Hopes for a major recovery in oil prices this year are dimming, which could lead to a gusher of energy company mergers and acquisitions as corporate finances creak under the strain. Full story
Know of any upcoming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? Email me at deals@globeandmail.com. I'll respond personally to every email.