Two days, two deals: Can Barclays Capital Canada complete the hat trick on Wednesday?

The second week of February 2016 continues to be very rewarding for Barclays Capital Canada, one of Barclays Bank plc.

On Tuesday, the day Fortis announced it had decided to offer US$6.9 billion to acquire U.S. power transmission company ITC Holdings Corp., tucked away towards the bottom from the release was that Barclays, together with Morgan Stanley, advised the seller.

ITC, that is based in Michigan, operates 25,000 kilometres of transmission lines and facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma. It is “the largest independent pure-play electric transmission company within the U.S.”

Fortis, which is located in St. John’s, is offering US$45 a share. It’ll finance the cash portion of deal using a US$2-billion debt raise, and “the sale of up to 19.9 per cent of ITC to 1 or more infrastructure-focused minority investors.” The equity portion is going to be financed through the offering of 0.7520 Fortis shares for every ITC share held. The transaction, which requires a quantity of approvals, is not likely to close until near year-end.

Goldman Sachs and Scotiabank advised Fortis and provided committed financing.

Related

Fortis shares slip on blockbuster deal to purchase U.S. power-line operator ITC for $6.9 billionFour Amaya employees may join CEO David Baazov in bid to take PokerStars owner private

The day before the Fortis announcement, more details were provided concerning the plans by Amaya to accept company private. For the reason that transaction, David Baazov, Amaya’s chairman and chief executive C with some other key executives C have said they intend to make an all-cash proposal to acquire Amaya for $21 a share.

One of the steps required for that intend to proceed may be the formation of a special committee of the board whose job is to opine on the fairness of the transaction to the rest of Amaya shareholders.

On Monday, Amaya announced the special committee has appointed Barclays Capital Canada Inc. to act since it’s exclusive financial adviser. In that role Barclays will work with Blake, Cassels & Graydon, what the law states firm hired by the special committee.

So with two deals in two days, can Barclays develop a hat trick? I suppose we’ll know on Wednesday.