There were 479 transactions in the North American Metals & Mining sector in second quarter of 2019, including 318 private placements, 41 public offerings, 74 mergers & acquisitions, 7 buybacks and 39 shelf registrations, with a total value of C$26.2 billion. Total deal volume decreased by 6% over the second quarter of 2018 and transaction value decreased by 82%.

Some of the most significant transactions in the Mining & Metals sector included:

On April 17, 2019, the Greenbrier Companies, Inc. entered into an asset purchase agreement to acquire ARI Component Venture, LLC, Castings, Llc, Southwest Steel Casting Company, LLC and Manufacturing Business from American Railcar Industries, Inc. for US$350 million.

On April 9, 2019, Wieland-Werke AG entered into a definitive merger agreement to acquire Global Brass and Copper Holdings, Inc. for approximately $990 million.  Wieland will acquire all of the outstanding shares of Global Brass and Copper in an all-cash transaction, Global Brass and Copper shareholders will receive $44/share in cash.  The offer represents a 27% premium to the last undisturbed share price.

Calculations include asset purchases and sales, joint ventures and minority and majority shareholdings that disclosed a transaction value and were announced within the time frame. Cancelled transactions were excluded. Exchange rates based on historical figures.

Sources: Capital IQ, analyst research.

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