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Deals of the day-Mergers and acquisitions

Published 2020-11-05, 04:00 p/m
Updated 2020-11-05, 04:06 p/m
© Reuters.

(Adds CI Financial, Merck & Co, American Tower, RSA)

Nov 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Canadian asset and wealth manager CI Financial Corp CIX.TO will buy U.S. registered investment advisory (RIA) firm Doyle Wealth Management Inc, the companies said. RSA RSA.L said it is in talks with a consortium of Canadian insurer Intact Financial IFC.TO and Danish insurer Tryg TRYG.CO about a possible break-up deal that values the British firm at 7.1 billion pounds ($9.3 billion). American Tower Corp (NYSE:AMT) said it will buy communications firm InSite Wireless Group LLC in a $3.5 billion deal, aiming to snap up more telecom assets as 5G builds momentum in the United States. Merck & Co Inc MRK.N said it agreed to acquire privately held VelosBio for $2.75 billion in cash, in a move that will help it strengthen its cancer drug portfolio. Saudi Arabia's Public Investment Fund will invest 95.55 billion rupees ($1.29 billion) for a 2.04% stake in Reliance Industries ' RELI.NS retail arm, giving the unit a pre-money equity value of 4.59 trillion rupees, the Indian conglomerate said. Aphria Inc APHA.TO , APHA.O said on Wednesday it plans to buy craft brewer SweetWater Brewing Co for $300 million as it looks to expand into the United States while becoming the first major pot producer to enter the alcoholic beverages market. Canadian convenience store operator Alimentation Couche-Tard Inc ATDb.TO has entered the Asian market through a deal to buy Convenience Retail Asia Ltd 's 0831.HK Hong Kong unit for HK$2.79 billion ($359.80 million), the companies said. Suez SEVI.PA turned down a request by rival Veolia VIE.PA to deactivate a Dutch-based foundation Suez had created to house its French water business as part of efforts to fend off a takeover bid by Veolia. The London Stock Exchange LSE.L has offered concessions to EU antitrust regulators to address concerns over its planned takeover of Refinitiv, according to a European Commission filing.

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