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Deals of the day-Mergers and acquisitions

Published 2021-02-08, 06:08 a/m
© Reuters.

(Adds Raizen, Coherent , Well Health Technologies, Altrad, Bain Capital)

Feb 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** French waste and water management firm Veolia VIE.PA vowed to press ahead with its bid for smaller rival Suez SEVI.PA despite new legal hurdles and a government warning over the increasingly hostile takeover battle. Angola has asked a Dutch court to hand over a half-billion-dollar stake in the Portuguese oil company Galp linked to ex-first daughter Isabel Dos Santos, its lawyers told Reuters. British online fashion retailer Boohoo has bought the Dorothy Perkins, Wallis and Burton brands from the administrators of Arcadia for 25.2 million pounds ($34.6 million), completing the break-up of Philip Green's empire. Renesas Electronics Corp 6723.T has agreed to buy Dialog Semiconductor DLGS.DE for 4.9 billion euros ($5.9 billion) in cash, boosting its position in low-power technology and connectivity across smart devices, cars and industry. Private equity firm TDR Capital has made a fourth offer for European investor and asset manager Arrow Global, TDR said, at a price of 305 pence per share. Singapore-based activist hedge fund Effissimo Capital Management said it would launch a tender offer to buy up to 30% of Japan's Sanken Electric Co 6707.T . British power producer Drax DRX.L said it would buy Canada-based Pinnacle Renewable Energy Inc PL.TO in a deal with an implied enterprise value of C$741 million ($580.58 million) including debt. Sweden's Castellum CAST.ST said it was withdrawing its bid for Norwegian real estate firm Entra ENTRA.OL as the offer has not won enough backing. Dutch paints and coatings maker Akzo Nobel AKZO.AS has given up efforts to buy Finnish rival Tikkurila TIK1V.HE , it said, four days after U.S. group PPG Industries (NYSE:PPG) PPG.N topped its bid. Matterport Inc, which makes 3D cameras for virtual tours of real estate, will go public through a merger with a blank-check firm backed by billionaire Alec Gores in a deal that values the combined entity at $2.9 billion, the companies said. Cubic Corp CUB.N has agreed to be bought by private equity firm Veritas Capital and U.S. hedge fund Elliott Management in a deal valued at about $2.2 billion, the defense and transportation technology firm. French pharma ingredients and specialty chemicals maker Seqens is being prepared for a sale by its private equity owners who are hoping to cash in on high healthcare valuations, two people close to the matter said. An Indian court on Monday overturned an order that had stalled Future Group's $3.4 billion deal to sell its retail assets, two sources said, in a setback for Future's partner Amazon.com Inc AMZN.O , which has challenged the sale. Italy's biggest bank Intesa Sanpaolo ISP.MI said it had signed a memorandum of understanding with BNP Paribas (PA:BNPP) Cardif to buy non-life insurer Cargeas for 390 million euros ($469 million). Brazil's state-controlled oil company Petroleo Brasileiro SA PETR4.SA said it had agreed to sell its RLAM refinery to Abu Dhabi's Mubadala Capital for $1.65 billion, subject to regulatory approval. Brazil's Raizen, the joint venture between Royal Dutch Shell (LON:RDSa) Plc RDSa.L and Cosan SA CSAN3.SA , has agreed to buy Biosev SA BSEV3.SA , the sugar and ethanol unit controlled by Louis Dreyfus, in a cash-and-stock deal, the companies said. Coherent Inc COHR.O said it had received a $6 billion takeover offer from manufacturing devices maker MKS Instruments Inc MKSI.O , weeks after the laser manufacturer agreed to a deal from Lumentum Holdings Canadian digital healthcare company Well Health Technologies Corp WELL.TO said it would buy CRH (LON:CRH) Medical Corp CRH.TO for $292.7 million to expand into the United States, in a deal partly funded by its billionaire investor Li Ka-shing. French industrial services group Altrad is in talks over a possible acquisition of German rival Bilfinger GBFG.DE , sources close to the matter told Reuters. Bain Capital BCSF.N and Cinven are acquiring Lonza's LONN.S Specialty Ingredients unit in a deal valued at 4.2 billion Swiss francs ($4.67 billion), the Swiss contract drug maker said, as it focuses on its faster-growing drugs division.

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