Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Deals of the day: Mergers and acquisitions

Published 2020-01-16, 04:06 p/m
Updated 2020-01-16, 04:35 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

© Reuters. Deals of the day-Mergers and acquisitions

Jan 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

Industrial materials maker DuPont Inc (NYSE:DD) is working with advisers to review strategic options, including a sale, for its electronics business, Bloomberg reported, citing people familiar with the matter.

Condor, the airline that used to belong to Thomas Cook, has attracted interest from buyout groups Apollo and Greybull as well as Polish carrier LOT, which are expected to submit final bids next week, a person close to the matter said.

German energy firm E.ON EONGn.DE said it would offer a total of about 2.38 billion euros ($2.65 billion) to buy out minority shareholders of Innogy IGY.DE .

Austria's Erste Group ERST.VI has decided not to submit a nonbinding offer for Commerzbank's CBKG.DE Polish unit mBank MBK.WA, a spokeswoman for the lender said.

U.S. activist fund Elliott will not tender its Altran ALTT.PA shares to French consulting and IT services provider Capgemini's CAPP.PA recently increased offer for the company, it said.

U.S.-based real estate group Hines has acquired the landmark Velasca Tower in the centre of Milan from Italian insurer Unipol UNPI.MI and plans to transform the building into a luxury office-led complex, the company said.

Kirkland Lake Gold Ltd's KL.TO C$4.4 billion ($3.4 billion) all-stock offer to buy rival Detour Gold Corp DGC.TO has won backing from two influential proxy advisory firms on grounds the target's shareholders would reap benefits from a larger company, bolstering chances of the deal going ahead.

The RAG Stiftung will likely pay less than 1 billion euros ($1.1 billion) as part of a consortium it has joined to bid for the elevator division of Thyssenkrupp TKAG.DE, two people familiar with the matter said.

A group of U.S. states suing to block T-Mobile US Inc TMUS.O from merging with Sprint Corp S.N told a federal judge the deal would raise prices for consumers, while the phone companies pushed back and emphasized they would compete aggressively to push prices down.

Takeover target Caltex Australia CTX.AX has signed a confidentiality agreement with Alimentation Couche-Tard ATDb.TO that gives the Canadian firm access to select non-public information in the hope that it will raise its offer.

Brazil's state-run oil company Petroleo Brasileiro said it had put up for sale its entire stake in the Golfinho and Camarupim deepwater clusters in the Espírito Santo basin. XPO Logistics Inc XPO.N said it was considering the sale or spin-off of one or more business units, sending shares of the warehousing and last-mile delivery provider up more than 16% in extended trading.

Chinese automaker Guangzhou Automobile Group Co Ltd 601238.SS said it was in early talks with Tesla challenger Nio Inc NIO.N about a financing proposal, but any potential investment would not exceed $150 million.

Hong Kong-based labelling firm SML Group is seeking a buyer in a deal that could fetch more than $500 million, three people with knowledge of the plans told Reuters.

Far Point Acquisition Corp FPAC.N , a blank-check company set up by hedge fund Third Point LLC and ex-New York Stock Exchange President Thomas Farley, said it had agreed to acquire shopping tax refund firm Global Blue in a $2.6 billion deal. Food delivery group Delivery Hero DHER.DE raised almost 2.3 billion euros ($2.56 billion) over night from the sale of convertible bonds and new shares to help fund its $4 billion takeover of South Korea's food delivery app owner Woowa Brothers.

German chemicals and plastics maker Covestro's 1COV.DE chief executive said it was still hard to carry out takeover deals that create value amid stubbornly high asset prices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.