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Deals of the day-Mergers and acquisitions

Published 2020-11-18, 06:01 a/m
Updated 2020-11-18, 04:06 p/m
© Reuters.

(Adds Fiat Chrysler)

Nov 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** British insurance group RSA RSA.L is backing a 7.2 billion pound ($9.55 billion) cash offer from Canada's Intact Financial IFC.TO and Denmark's Tryg TRYG.CO in one of Europe's biggest financial takeover bids this year. Permodalan Nasional Bhd (PNB), one of Malaysia's largest fund managers, said it will sell its entire 56.3% stake in Chemical Company of Malaysia Bhd (CCM) CLMS.KL for 292.8 million ringgit ($71.37 million). Fiat Chrysler FCHA.MI and PSA PEUP.PA shareholders will meet on Jan. 4 to approve their planned merger and create Stellantis, the world's fourth biggest car maker, the two companies said. Swedish games developer Embracer EMBRACb.ST announced 13 acquisitions and reported a sharp rise in quarterly earnings. The company said it would initially pay around 2 billion Swedish crowns ($232.11 million) for the acquired companies, but that the total could rise to 3.8 billion, depending on fulfillment of agreed milestones. Deutsche Boerse DB1Gn.DE said it was aiming to clinch more big deals after a $1.8 billion acquisition of an 80% stake in Institutional Shareholder Services (ISS). Brazilian software firm Linx SA's LINX3.SA shareholders backed a takeover offer from StoneCo Ltd STNE.O , its chief executive said, paving the way for the U.S.-listed card processor to offer its business clients additional services. Hedge fund veteran William Ackman has the support of some of Wall Street's top investors as he tries to pull off the biggest-ever deal carried out by a blank-check acquisition company, according to regulatory filings published in the last few days. Royal Dutch Shell Plc RDSa.L is preparing its 211,146-barrel-per-day (bpd) Convent, Louisiana, refinery for closure while the company continues to offer the plant for sale, said sources familiar with plant operations. Italian insurer Generali GASI.MI is a "very happy shareholder" of Banca Generali BGN.MI and there is no deal on the table to sell its stake to anyone, Generali's chief executive told the FT. Spain's BBVA BBVA.MC struck a cautious tone on a potential merger with smaller rival Sabadell SABE.MC , with its CEO saying the bank would carefully analyse any deal before deciding whether to proceed. India's Vedanta Ltd, the billionaire Anil Agarwal-controlled metals-to-oil conglomerate, said it was interested in buying the government's stake in the state-run Bharat Petroleum Corp Ltd BPCL.NS , India's largest fuel retailer. KKR & Co Inc KKR.N said it will buy a majority stake in animal health firm Argenta Limited, as the pet and animal care industry continues to draw private sector interest. Abu Dhabi state-owned ADQ is in talks with banks for a loan of about $1 billion that would back its acquisition of a 45% stake in commodities trader Louis Dreyfus Co (LDC), three sources said. Britain's SSE (LON:SSE) said it expected to announce the results of its plan to sell a stake in the Dogger Bank offshore wind project in coming weeks. China's Nanjing Iron & Steel Co Ltd 600282.SS said it would invest in a coke plant in Indonesia to sidestep tougher Chinese environmental rules and to build new capacity closer to major coking coal exporter Australia. British electric van startup Arrival has agreed to merge with CIIG Merger Corp CIIC.O to get a U.S. listing at a market valuation of about $5.4 billion, it said. Hemp-derived health products maker Vertical Wellness Inc said it was buying California-based sweet maker The Organic Candy Factory, creating a cannabis-infused edibles maker worth around $110 million.

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