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Deals of the day: Mergers and acquisitions

Stock MarketsFeb 25, 2020 16:44
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© Reuters. Deals of the day-Mergers and acquisitions

Feb 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

Shares in French speciality chemicals group Arkema AKE.PA jumped after a media report said the company was considering potential asset disposals to pre-empt a campaign by activist fund Elliott Management.

Canada's New Gold Inc NGD.TO said it has agreed to sell a 46% free cash flow interest in its New Afton mine to Ontario Teachers' Pension Plan for an upfront cash infusion of $300 million, which the gold miner will use to cut debt.

Iovance Biotherapeutics Inc IOVA.O is exploring a sale and has held preliminary talks with potential buyers, Bloomberg News reported, citing people familiar with the matter.

Two investor groups bidding for Thyssenkrupp's TKAG.DE 16 billion euros ($17.4 billion) elevator business are making last-minute tweaks to their binding offers this week and could nudge them higher, people familiar with the matter said.

Slovenia's largest bank Nova Ljubljanska Banka (NLB) and the Serbian government have finalised talks over the acquisition of the Komercijalna Banka KMBN.BEL , country's second largest lender, a banker said.

The board of credit investment trust Pollen Street Secured Lending (PSSL) PSSL.L is recommending a takeover offer by U.S. firm Waterfall Asset Management valuing it at around 675 million pounds ($875 million), it said.

Britain's biggest retailer Tesco TSCO.L has completed its exit from China with the 275 million pound ($357 million) sale of its joint venture stake to state-run partner China Resources Holdings ( CRH (LON:CRH)).

Australia's Healius Ltd HLS.AX said private equity firm Partners Group PGHN.S had offered to acquire the medical centre operator for A$2.12 billion ($1.40 billion).

French bank Natixis CNAT.PA said it had agreed to sell a 29.5% stake in credit insurance company Coface COFA.PA to U.S. company Arch Capital Group ACGL.O, in a deal valued at around 480 million euros ($520 million).

Intuit INTU.O said on Monday it would buy privately held personal finance portal Credit Karma in a cash-and-stock deal for about $7.1 billion, as the TurboTax maker seeks to expand further into consumer finance.

Deals of the day: Mergers and acquisitions

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