Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

M&A

October 22, 2012: 9:25 AM ET

BP PLC has reached a tentative agreement to sell its 50% stake in Russian oil venture TNK-BP to OAO Roseneft for between $26 billion and $28 billion (including $17.1 billion in cash and upwards of a 20% equity stake in Roseneft). www.roseneft.com

Archer Daniels Midland (NYSE: ADM) has offered to acquire Australian grains handler GrainCorp. (ASX: GNC) for $2.76 billion (33% premium to Friday's closing price). www.admworld.com

SS&C Technologies Holdings Inc. (Nasdaq: SSNC) has acquired Hedgemetrix, an Irving, Texas-based boutique hedge fund administrator. No financial terms were disclosed. www.ssctech.com

The Teachers Retirement System of Texas has agreed to acquire a 3% stake in motor racing group Formula One from Lehman Brothers, according to Reuters. The deal would be valued at approximately $200 million. www.formula1.com

Bertelsmann is considering a bid for scientific journal publisher Springer Science and Business, which could be put on the block in Q1 by owners EQT Partners and GIC, according to the FT. Springer could be valued at between €3 billion and €4 billion. www.springer.com

Triton Private Equity has sold German coal tar distilling company Ruetgers AG to India's Rain Commodities (BSE: 500339) for €702 million. www.triton-partners.com

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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