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Deals of the day-Mergers and acquisitions

Published 2021-03-01, 09:00 a/m
Updated 2021-03-01, 06:24 p/m
© Reuters.

(Adds Credit Agricole (PA:CAGR) Italia, Boingo Wireless Inc and Kering ; updates Iteris Inc, CAE Inc and Rocket Lab USA Inc)

March 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1810 GMT on Monday:

** Credit Agricole Italia said it potentially held 17.7% of Creval PCVI.MI as it awaited European Central Bank authorization to launch its buyout bid. French luxury group Kering PRTP.PA has taken a 5% stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younger and more environmentally conscious shoppers. Wifi solutions provider Boingo Wireless Inc WIFI.O will be taken private in a $854 million deal by infrastructure investment firm Digital Colony Management Llc, the companies said. Traffic camera provider Iteris Inc ITI.O rejected a buyout offer from Rekor Systems Inc REKR.O , saying it undervalued the company. CAE Inc CAE.TO will buy L3Harris Technologies Inc's LHX.N military training division for $1.05 billion in the company's largest-ever deal, boosting its defense business at a time when the pandemic is weighing on civil aviation. Space transportation startup Rocket Lab USA Inc agreed to go public through a merger with a blank-check firm backed by private equity firm Vector Capital, in a deal that values the combined entity at an enterprise value of $4.1 billion. Commercial property data vendor CoStar Group Inc CSGP.O sweetened the deal to buy CoreLogic Inc CLGX.N by adding $450 million more to the original offer. Perrigo Company Plc PRGO.N posted quarterly earnings below estimates and said it would sell its underperforming generic drugs business for $1.55 billion, as the consumer healthcare products company sharpens focus on its core business. PQ Group Holdings Inc PQG.N said it has agreed to sell its performance chemicals business, which makes cleaning and whitening agents for toothpastes and surface coatings, to a partnership formed by Cerberus Capital Management, L.P. and Koch Minerals & Trading LLC for a deal valued at $1.1 billion. Ladbrokes (LON:LCL) owner Entain ENT.L raised its cash offer for rival Swedish sports betting firm Enlabs AB NLABA.ST to value it at around 3.7 billion crowns ($440.16 million) and said it would not increase the price further. Dubai-listed healthcare firm Amanat Holdings AMANT.DU has bought long-term care firm Cambridge Medical and Rehabilitation Center for an enterprise value of $232 million from private equity firm TVM Capital Healthcare. Cloud-communications firm Twilio Inc TWLO.N is in talks to invest as much as $750 million in Syniverse Technologies LLC, the Wall Street Journal reported on Sunday. Danone DANO.PA said on Sunday it was taking a first step towards selling off its stake in its Chinese dairy partner as the French food group faces pressure from shareholders to improve its performance and governance. Brazilian insurer and hospital operator Hapvida Participacoes e Investimentos SA HAPV3.SA and competitor Notre Dame Intermedica Participacoes SA GNDI3.SA disclosed the share conversion terms of a previously announced tie-up that would create the country's largest hospital chain. Israel's Enlight Renewable Energy ENLT.TA said on Sunday it is in talks to buy 90% of an unnamed solar energy provider in the United States in a deal that values the target company at $430 million. MTN Group MTNJ.J remains committed to negotiating a $65 million sale of its 75% stake in its Syrian unit, the South African mobile operator said on Sunday, despite the business being placed under judicial guardianship last week. McDonald's Corp (NYSE:MCD) MCD.N is exploring selling part of Israeli artificial intelligence startup Dynamic Yield Ltd, which it acquired two years ago in an attempt to boost online marketing efforts, the company said on Friday. A Delaware judge on Friday struck down Williams (NYSE:WMB) Cos' WMB.N "poison pill" that the energy company adopted early last year as a defense against a possible takeover in the wake of a sharp drop in oil prices.

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